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Who Uses Thier Boat As A Write Off?

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Old 03-17-2005, 03:26 PM
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Default Re: Who Uses Thier Boat As A Write Off?

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Originally Posted by FASTERDAMITT
So I guess you can only use a primary home and a secondary home. No third, right?

Correct.
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Old 03-17-2005, 03:33 PM
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Default Re: Who Uses Thier Boat As A Write Off?

I believe sales tax will be a state thing. I register my boat under a corp in Delaware and don't pay sales tax (or personal property either). The info about interest is correct. I have had several cruisers in the past and wrote it off.
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Old 03-17-2005, 03:35 PM
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Default Re: Who Uses Thier Boat As A Write Off?

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So I guess you can only use a primary home and a secondary home. No third, right?
Correct. You would have to borrow money against one of the homes (to pay for the boat) to claim the deduction. It doesn't matter what you bought with the money, the gov. only cares what is used as collateral for the loan.
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Old 03-17-2005, 03:43 PM
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Default Re: Who Uses Thier Boat As A Write Off?

Thanks!
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Old 03-17-2005, 05:24 PM
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Default Re: Who Uses Thier Boat As A Write Off?

I sell 'Aqua-scooters' through my website and have to use my boat to carrying the scooters to a place to demo them - most times, the local party areas.

Write off boat payment, insurance, slip, lift, fuel, maintenance, website, dinners, etc.... and still have a fun time with the Aqua-scooter.

Its a MONEY LOSING BUSINESS....but will last three years for tax purposes.
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Old 03-17-2005, 07:01 PM
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Default Re: Who Uses Thier Boat As A Write Off?

Very nice!
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Old 03-17-2005, 07:22 PM
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Default Re: Who Uses Thier Boat As A Write Off?

Rebarbox hit the nail on the head start a bs business and write all that off. In Wisconsin you can have a business up to 5 years lose money every year after that shut the business down start a new go another 5 years I've done it since I was 20. They make the rules we find the loop holes
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Old 03-17-2005, 07:24 PM
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Default Re: Who Uses Thier Boat As A Write Off?

We do. And it helps recoop some moneys spent.
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Old 03-17-2005, 07:50 PM
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Default Re: Who Uses Thier Boat As A Write Off?

Quote:
Originally Posted by RebarBox
I sell 'Aqua-scooters' through my website and have to use my boat to carrying the scooters to a place to demo them - most times, the local party areas.

Write off boat payment, insurance, slip, lift, fuel, maintenance, website, dinners, etc.... and still have a fun time with the Aqua-scooter.

Its a MONEY LOSING BUSINESS....but will last three years for tax purposes.
damm , what a deal

how can i become a dealer?
 
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Old 03-17-2005, 10:29 PM
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Default Re: Who Uses Thier Boat As A Write Off?

I took a home equity loan, so yes I write off all the interest.
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