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The Rolex Middle Sea Race concluded on 27 October, marking the end of the 2018 Mediterranean yachting season. See the Rolex film trailer of this 606-nautical-mile offshore race from Malta’s Grand Harbour, taking in the Strait of Messina, Stromboli’s active volcano and the islands of Favignana, Pantelleria and Lampedusa. Among the record 130 yachts competing in the 50th anniversary edition, the 115-ft Nikita was the largest ever to participate. Rolex timepieces were awarded to George David’s Maxi Rambler 88 for taking Monohull Line Honours for the fourth consecutive year, and to Courrier Recommandé, from France, for the overall win.
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.