1. TAX BENEFITS: By setting your boat up as a business, you can take advantage of the Section 179 Deduction, which allows a business to deduct, for the current tax year, the full purchase price of financed equipment up to $500,000. The equipment must be placed into service in the same tax year that the deduction is being taken. Additionally, all expenses of ownership, berthing, maintenance, insurance, property tax, and more, become business expenses. (For more detailed information on Section 179 visit SECTION 179 INFO .)
2. TURN-KEY USE: Boats in programs have to be ready to go out at any time. After every use the boat is checked, maintenance and repairs made and it’s ready for use again. The benefit to you is that when you’re ready to boat, your boat is ready. Just step aboard and go. The charter company can even clean up after you.
3. OFFSET COSTS OF OWNERSHIP: Charter revenue can be substantial depending upon the program, the amount of time you want your boat to be used and the type of charter use. We’ll discuss this as part of the program selection as we help you set up your business.
4. PROFESSIONALLY MAINTAINED: A boat in charter use receives regular maintenance, both cosmetically and mechanically, to keep it ready to go and looking good. You can have maintenance scheduled and performed for you so when it’s your time to use the boat, you just step aboard and go. The boat’s resale value is preserved and so is it’s useful life.
Attend one of our monthly “Your Boat As A Business” seminars or webinars and learn about charter yacht ownership benefits, or call for a private consultation. Our webinars are on the first Wednesday of every month from 7pm to 8pm. Convenient on-line sign up for our Webinar