Insights from Catamaran Owner in Charter Business Program

We have received so many questions about operating a yacht as a business, so we interviewed one of our catamaran owners in this program currently.

Chris gives us a first hand account of his experience as a boat owner in a charter fleet, how the program works for him, why he chose this program over a conventional guaranteed income program and much more.

We also discuss the fact that the acquisition of a new yacht may be an effective business tool to take advantage of the available tax rules but the tax benefits must be carefully planned, documented and implemented to make sure that it can withstand scrutiny.

Here is a link to the FAQ's about Owning a Yacht Charter Business and Tax Advantages.

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Large Luxury Crewed Catamaran Ownership

Large Luxury Catamarans In Crewed Charter Business

Imagine anchoring your very own large luxury catamaran in an idyllic lagoon of a tropical island. Even better, turn this daydream into a reality with less financial prowess than you think possible.

For those of us who long for the lifestyle sailing brings, optimizing the ownership of a large catamaran with a few key components can truly make your dreams come true faster and with less risk and worry. It is reasonable and prudent to expect a valuable asset such as a large luxury catamaran to contribute to its upkeep as well as generate tax advantages to justify its existence, while also enjoying leisure and family time aboard yourself.

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impacts and opportunities in the tax cuts jobs act of 2017 for yacht businesses and buyersHow Tax Reform Affects Yacht Businesses in 2018

There are some nuggets for yacht buyers and charter yacht businesses in the recent Tax Cuts and Jobs Act of 2017 signed by President Trump on December 22, 2017.

Highlights of changes that affect yacht owners are as follow:

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Yacht Charter Management Programs In A Nutshell

Owning and sailing a catamaran in an exotic part of the world is a dream for most people. However, paying for maintenance, insurance, dockage, new “must-have” equipment, and other bills can be a drain on any yacht owner as you watch the sum add up monthly. Fortunately there are ways to reduce the overall cost of owning a yacht so you can get back to smiling with the wind in your sails.

Charter yacht management is one way to make it more affordable and help keep costs low while owning the boat of your dreams.  We have used these same methods with our own boats and we have helped hundreds of other sailors do the same.

But don’t be fooled! You can get trapped into something that does not work for you because not all management companies or charter operations are a good fit for everyone. Not every boat fits the “charter” model either. Make sure that you understand what you are getting into. Read and understand your contract. Make sure you have a good exit strategy and if you are unsure, get a good expert advisor.

Read on to get a video overview and more details of the 5 most popular yacht charter management programs offered by companies like The Moorings, Dream Yacht, TMM, CYOA and others. 

Additional details for each of the charter management programs follow this video. Also, see our analysis to help you decide if buying a new, charter yacht or used yacht is right for your situation

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"Yacht as a Business": FAQ's And Common Misconceptions

FAQ's About Owning Yacht Charter Business and Tax Advantages

crewed charter ownershipWe have received so many questions about operating a yacht as a business in the last few months, so we've decided to present a FAQ section for YBO. Basically, if you are a US tax payer, enjoy sailing and want to own your own yacht at a substantially reduced cost, this program will work for you. Although the acquisition of a new yacht may be an effective business tool to take advantage of these tax rules, the tax benefits must be carefully planned, documented and implemented to make sure that it can withstand scrutiny. 

Many of your questions and doubts will be answered in this list but if not, please feel free to give us a call or email us. Also read the article explaining "Yacht  as a Business" Ownership in more detail. 

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