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:
WAYS TO MAKE YOUR BOAT PART OF A BUSINESS by Steve Curran
Over the years many people have operated their boats as part of a business, thereby creating some revenue to help with the expense and also allow the write-off of the boat expenses, even the depreciation of the boat. This has a dramatic effect on reducing the cost of boat ownership…Click Here To Read More
COST EFFECTIVE BOAT OWNERSHIP – Is there such a thing? by Captain Jack Silver
Owning a boat costs money, and I am not talking just about the cost of buying it. HOWEVER, there are “ways to own a boat” and “ways to have a boat” that can cut costs and, in some cases, eliminate costs. In a word: SHARING. And there are a number of ways this can be done…Click Here To Read More