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Old 01-29-2013
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Re: can I afford to continue sailing

Quote:
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.
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