Correct.

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.

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.

Thanks!

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.

Very nice!

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

We do. And it helps recoop some moneys spent.

damm , what a deal

how can i become a dealer?

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