Your Boat Can Be Entertaining and a Tax Deduction, Plus Detailing Packages That’ll Float Your Boat
Tax deductions exist for both business and pleasure crafts. Please consult your accountant or tax attorney regarding any tax deduction. This is just an overview and doesn’t cover all parameters.
Declaring Your Boat as a Second Home
All you need to have on your boat to qualify is a sleeping place, cooking facilities, and a toilet (portable ones count, too) to get a mortgage interest deduction.
Entertaining Clients – Business Not Pleasure
You can deduct up to 50 percent of the costs of fuel, food, drinks, and mooring fees. But you’ll need to keep fastidious records.
If you are earning income off of your boat for charters or tours, you can also deduct all of your business expenses as long as you’re trying to make a profit from the boat and are not using it as a hobby.
You know the old adage: “The happiest day is when you buy a boat and sell it.” Another option, if you’re done being a boat owner, is to donate it to charity. The IRS allows you to deduct the market value of your boat on the day you donate it (not what you originally paid for it).
Team Nutz is your go-to source for all interior and exterior detailing of boats, RVs and cars. Take advantage of these spring cleaning specials!
For boats, RVs, any vehicle, or home interiors consider Aqua-Fog Odor Eliminator. Aqua-Fog represents the new generation of odor eliminating products. The active ingredients in Aqua-Fog vapor react chemically with sources of foul odor and eliminate them, in contrast to similar products that simply mask and cover odors, leading to their eventual return once the scent wears off. Packages start as low as $59.99
If you’re a new boat owner or your boat is up to five years old, take advantage of our Bronze Exterior Package with One-step Polish Wax. Contact us for a price.