Boat Business Tax Strategies
What are the Financial, Tax and Business Benefits of Boat Ownership in a Business Program?
One of the more popular charter programs is known as the Performance Program. Most savvy yacht buyers understand that there is a completely legitimate way to significantly reduce the costs of yacht ownership by making use of existing tax laws to generate tax advantages. If you are an American tax-payer, you may be eligible for significant tax benefits through our active yacht ownership program.
What Is “BOAT AS A BUSINESS”?
By placing a yacht into a corporation and running it as a small business one can generate income through chartering to cover the expenses and allow you to take advantage of tax programs and depreciation to significantly offset the cost of ownership.
There are small business stimulus programs such as section 179 and 168 which allow for substantial tax breaks to help with offsetting the start up and operating costs. When entering into a business venture a business plan should be developed which shows ability and intent to make a profit. It is very important to choose your partner wisely because if the revenue numbers are not delivered by the management company you partner with the business plan falls apart.
While showing intent and ability to make a profit is a cornrestone for success of program, the owner should also be able to show acive participation to meet the IRS requirements. Having a knowledgeable tax accountant review the individual’s personal situation is a highly recommended part of making sure that you are in complaince with the rules.
We have developed a robust program that meets the requirements to operate a successful small business and take advantage of the existing tax laws. We have many years of experience and we can show you how to set yourself up to enjoy the benefits of running your own yacht as a business. We clarify what it is, and how you can qualify for this program in detail. Please follow this link for more detailed information and an overview of the basic tax rules for a boat business>>
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2019 Last Available Slots For Charter Business Programs!
If you want to take advantage of the business program for 2019, ACT NOW!
THERE ARE VERY FEW SLOTS AVAILABLE FOR THESE PROGRAMS BEFORE THE END OF THE YEAR.
INQUIRE FOR AVAILABLE MAKES & MODELS i.e. Bali catamarans, Fountaine Pajot, Lagoon,Nautitech etc.
