SailNet Community - View Single Post - Definition of "Yacht"
View Single Post
post #12 of Old 07-22-2002
bporter
Senior Member
 
Join Date: Nov 2000
Posts: 111
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 15
 
Definition of "Yacht"

>>BTW, I thought if the boat has a galley, a permanent head, and sleeping space for the whole family, then most likely it could be called a "yacht".<<

Actually if it has those, plus a mortgage there is one other VERY IMPORTANT name for it that I''m surprised no one mentioned. That is "Tax Deduction".

With a galley, a head and sleeping space, mortgage interest can be deducted under a "Second Home". Talk you your accountant...
bporter is offline  
Quote Share with Facebook
 
 
For the best viewing experience please update your browser to Google Chrome