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News Alert

Charter Boat Owners Win IRS Challenge

People interested in becoming charter boat owners often come to us with a concern regarding meeting the requirements to quality for tax advantages for running their boat as a charter business. The number one objection from their CPAs is that the business yacht management program is a passive activity and will not be deemed active participation which is the key requirement for qualifying for small business and Section 179 tax deductions. Professional accountants often contend that a boat owner may find it difficult to prove active participation in a boat business. However, in 2015, a couple who owned a boat charter business under a yacht management program won their case in Tax Court. They proved active participation validating the yacht charter ownership model that Catamaran Guru uses when advising boat buyers. Contact Us to get an overview of the case and find out what it is that helped win the case for this couple.

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0 # Guest 2015-10-26 20:01
I'd like to have a copy of the article.... thanks peg
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0 # Guest 2015-10-28 04:52
Not that we will have this problem but I still would like to read what was written.
Thanks, John
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0 # Guest 2016-02-02 15:49
I would like a copy of the article as well. Thanks!
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0 # Guest 2016-07-06 18:42
Hi, all. This is Estelle of Catamaran Guru. Please call or email by clicking on the link at the end of the article if you wish to have more information on this important case. Also, I just wrote more details about several tax court cases you might want to check out: http://catamaranguru.com/56-charter-management-programs/premium-files/965-section-179-tax-advantages-related-court-cases.
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