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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.
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Volvo Ocean Race sailors will be able to send social media updates direct from the oceans for the first time in 2017-18, following a rule change and technical development that opens up a race that has always prevented onboard internet access.
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