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  1. #11
    Charter Member # 55 Charter Member Griff's Avatar
    My Boats:
    ..........32........... Active Thunder
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    Omaha
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    Re: Who Uses Thier Boat As A Write Off?

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

    Correct.

  2. #12
    S.O.B (single O/B) now Platinum Member t500hps's Avatar
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    Richmond VA
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    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.

  3. #13
    S.O.B (single O/B) now Platinum Member t500hps's Avatar
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    Re: Who Uses Thier Boat As A Write Off?

    Quote Originally Posted by FASTERDAMITT
    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.

  4. #14
    Registered FASTERDAMITT's Avatar
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    Re: Who Uses Thier Boat As A Write Off?

    Thanks!

  5. #15
    Registered RebarBox's Avatar
    My Boats:
    05' Cobalt 343, 28' Cigarette a.k.a (Bicycle), 91' Ciglett, 08' Tahoe 215, plus some other crap.
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    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.
    Attached Images Attached Images

  6. #16
    Registered FASTERDAMITT's Avatar
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    Re: Who Uses Thier Boat As A Write Off?

    Very nice!

  7. #17
    Registered
    My Boats:
    1996 Active Thunder 32 Thunder
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    Apr 2003
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    Janesville,Wi
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    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

  8. #18
    Registered 45sonic's Avatar
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    '00 45 Sonic
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    Northern VA
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    Re: Who Uses Thier Boat As A Write Off?

    We do. And it helps recoop some moneys spent.

  9. #19
    Steve_H
    Guest

    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?

  10. #20
    Registered Dono's Avatar
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    Feb 2001
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    lake st.clair, MI
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    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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