Travel tax credit and DVC

[BuzzandWoody]

Okay DVC'ers

Just read about this on the Comm board.

http://www.disboards.com/forums/showthread.php?threadid=106866

Anyway anyone can think this will be valid for DVC vacations?
Put your thinking caps on.

We have a trip planned in Nov/Dec and May 2002 would be nice to take advantage of this if it is passed.
Now whether I agree this is a good idea, I don't know.

Des

 

[wdwnut]

airfare would be deductible. that would help me out.

 

[CarolMN]

There's no way to know what will actually be included in this bill until after the President signs it into law. It could look entirely different from the original proposal and of course it might not even get through Congress. Anything we read/hear now is just speculation. I personally doubt whether using one's own timeshare will be included as that doesn't really help put laid off airline/hotel/travel industry employees back to work.

That said, I hope it passes. I'd love to get a tax credit even if it is only only (LOL!) for airfare, rental car and arrival night Priceline reservation!

 

[thepoohbear]

Park tickets should count too! Plus I'm thinking food maybe???

 

[Granny]

thepoohbear....

I like the way you think!


Let's get Uncle Sam to give us the park admissions discount we can't get any other way!!!


Can we toss in souvenirs?

 

[thepoohbear]

Souvenirs should help the economy too! Why didn't I think of that?

 

[jfulcer]

While airfare will count, unfortunately park admission will not. It specifically excludes money spent on entertainment, and I think going to DisneyWorld would be considered entertainment for most.

That still means my airfare and rental car will count, so I'm happy about that. I'll come close to the $1000 - have to try to be creative to make sure I get everything from uncle sam that I can.

 

[Disney Adventurer]

It says for travel expenses incurred between date of enactment and January 1, 2002. What if travel is already booked and payed for can you still deduct the expense if the actual travel falls between the dates? And what if airfare is departing in December 2001 and returning after January 1, 2002?

 

[azlaura]

You may get to deduct those tickets! Here is what CNN reports anout the bill: "All travel expenses could be used toward the credit, including plane, bus and train tickets; gasoline; hotel, restaurant, entertainment expenses; travel agency and tour fees and all applicable taxes."
I read the one above, maybe there has been some changes! I sure hope so!!!
Laura

 

[DVCajun]

Call me a skeptic.

But this is one time I would sure love to be wrong!!

 

[TnRobin]

I actually read the proposed bill. It limits the credit to expenses for commercial lodging and transportation expenses.

The term `qualified personal travel expenses' means reasonable expenses in connection with a qualifying personal trip for--

`(A) travel by aircraft, rail, watercraft, or motor vehicle, and

`(B) lodging while away from home at any commercial lodging facility.

Such term does not include expenses for meals, entertainment, amusement, or recreation.