How do you write your hobby off to your business?
09-03-2014 | 06:27 AM
#41
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I have opened up a llc for boating dealership. But, speaking to others that have done this in florida it's not very successful. I hear this has been a huge issues with all patrol. I have heard that patrol watches all boaters registration numbers. If, they notice you boat more than 90 days in florida regardless of whether or not you are a TRUE dealer of not they will slap a sticker on your boat giving you x amount of days to register your boat and pay the taxes due or remove it from florida waters.
This loop hole is a huge revenue issue with the state of florida. Everyone is going all out to get any and all money they can from everyone.
This loop hole is a huge revenue issue with the state of florida. Everyone is going all out to get any and all money they can from everyone.
SC takes this approach a bit further, sales tax on any boat is $300 but you have a use tax so you have to get the boat out of state or you get hit with the use tax.
09-03-2014 | 06:51 AM
#42
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Joined: Jan 2009
Posts: 3,511
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From: Springfield, Louisiana
a lot of my expense on the boat is entertainment...I have the added advantage of running a wet mining company so I do a lot of marine related repairs and replacement here...
...no rule says I can't have a powerboat as a dredge tender is there??? 
...no rule says I can't have a powerboat as a dredge tender is there???
Last edited by LAriverratt; 09-03-2014 at 06:53 AM.
09-03-2014 | 08:11 AM
#43
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Joined: May 2001
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From: Worldwide
http://www.thetruthaboutcars.com/201...ontana-plates/
It's a "trend" around those that collect cars.
I don't have an exotic collection, but am looking at alternative choices compared to dealing with Virginia DMV all the time with the 7 we have on the street right now; as well as inspections, and personal property taxes.
Also, I like some of the Montana license plate designs/colors better, (yes, I am that vain).
09-03-2014 | 10:26 AM
#45
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Joined: Mar 2002
Posts: 2,142
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From: Miami Beach
if you get audited there is no way you will convince them your Skater is any kind of working tender and you will be f'ked!
09-03-2014 | 10:45 AM
#47
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From: Mobile, Al
09-03-2014 | 10:57 AM
#48
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why would anyone be dumb enough to do that.....so the government can take the money and waste it on someone or something or some rule that will cost even more money
if "the book" has convoluted rules and you follow the rules in "the book" to your advantage then you should do that every chance you get
