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Thinking about using a yacht for your business and want to know about tax breaks? Section 179 lets you deduct part of the cost upfront, but only if the yacht is truly for business (To qualify you must prove Active Participation and Ability & Intent to make a profit) and there are spending limits. Bonus depreciation offers even bigger deductions. Remember, the IRS is strict, so consult a tax pro specializing in yacht businesses.
The lingo of sailing is baffling to many newcomers. While the actual sailing is pretty easy, it’s hard to wrap your mind around the bookwork when it seems like every little thing on a boat goes by its own nautical term. Click here to read the full article: https://mycruiserlife.com/parts-of-a-sailboat/ #sailboat #sailboatparts #boatlife