Boats, Taxes, Business, Revenue & Write-offs: How Do These Things Fit Together?
Many savvy yacht buyers recognize a completely legitimate way to significantly reduce the costs of yacht ownership by writing off purchase price and deducting most ownership expenses (insurance, slip fees, maintenance) against employment income.
What are the financial, tax and business benefits of boat ownership?
The following links can give you some insight:
- Maritime Law & How it Affects You
- A CPA’s Perspective on Yacht Chartering
- Documented Vessels and California Tax