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Re: Manhattan Club Lawsuit (by Dks):

Nathan says he is a licensed tax professional so I imagine he would knows something about deductibility. Obviously after all the fraud perpetrated by TMC, I wouldn't trust anything a TMC counsel advised and I use a very reputable accounting firm and pay them enough and they say/and have said my TMC taxes are deductible...so I have been and will continue to deduct them.

I read the settlement terms and "spoke" with Jeff Weir and I have concluded that since I paid fees on 2 timeshares between 2011-2014 that I will get some some reimbursement in 2 or 3 years. Probably not much. But if the management changes for the better (hopefully sooner than later) and we can pay less fees and get the time we want without booking a year out....I will be happy with that and be glad to move on from all of this. Through no choice of our own we have been patient and it looks like we will need another 1-3 years of patience depending on our individual circumstances. Other than that it sounds like we can try to contact Lou Soloman at the AG's office and or TMC for any follow up information.

My most urgent question is, what will the fees be moving forward??

stevenw317 wrote:

Nathan, Deborah and Howard all obviously have received different advice on deductibility. So it seems clear to me that there is st worst uncertainty on the matter. When I inquired of TMC counsel many years ago I was advised that their position at that time was that approx 75% of the maintenance was deductible, akin to the factors (RE taxes, mtge interest) that are included in co-op maintenance. And for those who use the TMC for business purposes, my understanding is that lodging expense away from home is fully deductible against business income.