SailNet Community - View Single Post - can I afford to continue sailing
View Single Post
post #107 of Old 01-29-2013
Senior Member
casey1999's Avatar
Join Date: Oct 2010
Location: HI
Posts: 3,543
Thanks: 23
Thanked 53 Times in 51 Posts
Rep Power: 7
Re: can I afford to continue sailing

Originally Posted by Gramps View Post
While I am no expert on the subject you may want to investigate using the boat as a tax deduction. I believe the IRS allows a percentage of the cost of ownership to be deducted provided the boat has certain necessities and you live on it a few weeks a year. Worth looking into and doesn't cost anything to find out if you qualify.
Would not the only thing you "might" be able to deduct would be interest on the boat loan (if you have a loan) and maybe a state "property tax", if you state has this? I do not think you could deduct slip and maintenace fees.
casey1999 is offline  
Quote Share with Facebook
For the best viewing experience please update your browser to Google Chrome