Trailer Life Magazine Open Roads Forum: Beginning RVing: LLC buying an RV
Open Roads Forum Already a member? Login here.   If not, Register Today!  |  Help

Newest  |  Active  |  Popular  |  RVing FAQ Forum Rules  |  Forum Posting Help and Support  |  Contact  

Search:   Advanced Search

Search only in Beginning RVing

Open Roads Forum  >  Beginning RVing

 > LLC buying an RV

Reply to Topic  |  Subscribe  |  Print Topic  |  Post New Topic  | 
Page of 2  
Next
Sponsored By:
GoGators1776

Florida

New Member

Joined: 01/10/2018

View Profile


Offline
Posted: 01/13/18 11:24pm Link  |  Quote  |  Print  |  Notify Moderator

Can my LLC that is registered in Florida buy a RV? I would need to finance it as all my money is invested in the company and my house. This isn't to avoid the sales tax like a Montana LLC. Thank you to all who answer.

Mocoondo

Chicago, IL

Senior Member

Joined: 02/23/2010

View Profile



Good Sam RV Club Member

Offline
Posted: 01/13/18 11:28pm Link  |  Quote  |  Print  |  Notify Moderator

Of course an LLC can hold tangible property. The question is whether your bank will hold paper on it.





Bumpyroad

Virginia

Senior Member

Joined: 12/01/2005

View Profile


Offline
Posted: 01/14/18 05:08am Link  |  Quote  |  Print  |  Notify Moderator

ask who you are going to finance it with these questions
bumpy





Sprink-Fitter

Anywhere we want to be.

Senior Member

Joined: 10/23/2013

View Profile


Offline
Posted: 01/14/18 07:34am Link  |  Quote  |  Print  |  Notify Moderator

I usually try to get all my tax advice on a John Deere tractor forum, you might check there.


2006 Coachman Adrenaline 228FB

2012 Can Am Commander XT 1000

accsys

Green Cove Springs, FL

Senior Member

Joined: 07/09/2006

View Profile



Good Sam RV Club Member

Offline
Posted: 01/14/18 07:46am Link  |  Quote  |  Print  |  Notify Moderator

I see no reason why a FL LLC couldn't purchase it but I also see no reason for an LLC to buy it unless you plan to use it strictly as business property and depreciate it accordingly which means it should be used for business purposes close to 100 percent of the time. Since it would be business property, insurance would be much higher than if it were personal property as well as harder to obtain. There is also a good chance financing would be much more difficult.


John & Doris
Doris and Robbies Blogs
2007 Tiffin Phaeton QDH 40 w/Cat 7 350
2004 Liberty Renegade 4x4 Toad
Roadmaster Falcon 2 tow bar
Air Force One toad braking system
FMCA F380583, PA, Good Sams



Lwiddis

El Pueblo Señora la Reina de los Ángeles

Senior Member

Joined: 08/12/2016

View Profile



Good Sam RV Club Member

Offline
Posted: 01/14/18 08:22am Link  |  Quote  |  Print  |  Notify Moderator

Avoiding personal liability is a far more complicated subject than you appear to believe. Insurance is cheaper and doesn’t draw a bead from the IRS and state tax agency. You are in the crosshairs.


2015 Winnebago 2101DS TT & Chevy Tahoe LTZ, 300 watts WindyNation solar - parallel & MPPT, Trojan T-125s. TALL flagpole for USC & historical flags. Prefer USFS, COE, BLM, NPS, TVA, USF&WS, state & county campgrounds. 14 year Army vet. Bicyclist!

mich800

Pontiac, MI

Senior Member

Joined: 05/30/2004

View Profile



Posted: 01/14/18 08:31am Link  |  Quote  |  Print  |  Notify Moderator

Shouldn't be a problem. You will most likely need to sign a personal guaranty or primary on the loan even if it is through the business. So you will still have that financial liability even if every thing is registered to the business.

wing_zealot

East of the Mississippi

Senior Member

Joined: 12/31/2007

View Profile


Offline
Posted: 01/14/18 09:41am Link  |  Quote  |  Print  |  Notify Moderator

Since you work out of the country, and I presume have reportable expenses for such, you're going to have a bit of a pickle trying to explain to the IRS how the LLC needs an RV in the US.

sayoung

Tx

Senior Member

Joined: 09/17/2012

View Profile



Good Sam RV Club Member

Offline
Posted: 01/14/18 12:02pm Link  |  Quote  |  Print  |  Notify Moderator

wing_zealot wrote:

Since you work out of the country, and I presume have reportable expenses for such, you're going to have a bit of a pickle trying to explain to the IRS how the LLC needs an RV in the US.

The RV like say an airplane is what my accountant calls " the giant RED Flag " if you have no real business use. If camping & need liability protection any lawyer could buzz right thru that LLC veil.

dons2346

Sioux Falls, SD, formerly of So. CA

Senior Member

Joined: 11/21/2001

View Profile



Good Sam RV Club Member

Offline
Posted: 01/14/18 09:28pm Link  |  Quote  |  Print  |  Notify Moderator

Sprink-Fitter wrote:

I usually try to get all my tax advice on a John Deere tractor forum, you might check there.


Good one!





Reply to Topic  |  Subscribe  |  Print Topic  |  Post New Topic  | 
Page of 2  
Next

Open Roads Forum  >  Beginning RVing

 > LLC buying an RV
Search:   Advanced Search

Search only in Beginning RVing


New posts No new posts
Closed, new posts Closed, no new posts
Moved, new posts Moved, no new posts

Adjust text size:

© 2018 CWI, Inc. © 2018 Good Sam Enterprises, LLC. All Rights Reserved. | Terms of Use | PRIVACY POLICY | YOUR PRIVACY RIGHTS