Originally Posted by Minnewaska
I've said this before and fully understand the tax ruse. However, it always makes me feel like anyone that with a mega yacht and charters it out, can't actually afford it.
I get the tax deduction and depreciation, which is significant money. I also get that those deductions are available to the rich to encourage them to buy these yachts with their disposable income and keep thousands employees in the marine business. Imagine the cost to keep this boat for one night at your favorite expensive marina?
Still, it seems cheap to have to say it is for rent.
And that's why you don't own a mega yacht...or a chopper...or a jet...or an island
(at least I think you don't
And if you have 10 - 20 million to spare I can show you how to travel the world from casino to casino and never lose a dime (and no it's not about money management or card counting, etc. it's about cash incentives, comps, and loss discounts).