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By placing a yacht into an LLC and operating it actively for profit, the owner is able to generate substantial tax advantages that further offset the cost of ownership. There are very specific rules and requirements that need to be complied with in order to meet the standard of actively operating a business for profit and taking tax advantages.
After months of hard work, we’ve finally reached the final days of our major sailboat refit! 🛠️ In the final days we move the boat to the ramp, replace the prop shafts, install brand new Flexofold propellers, apply a fresh coat of antifoul, and finally — relaunch our home back into the water! It’s been a huge project getting our aluminum catamaran ready for the next adventure, and this moment makes it all worth it. Follow along for full-time family life on the ocean! #BoatRefit #SailingFamily #CatamaranLife #SailingAustralia