Michael, thank you for responding. I am not an accountant, I am a sailor. I never said I was a CPA. In fact I prequalified my numbers by saying they are based on my experience alone, and you can feel free to discount by as much as you believe is necessary. I completely respect that when it comes to write-offs and taxes you do an hide expenses for hobbies or legitamite expenses if you are in a marine-related business and can do so. You can write-off depreciation. That assumes that you have the income that you need to write off, otherwise if all it does is contribute to your NOL then you might consider that the cash before taxes is a little more valuable than continuing to add to a NOL by owning a boat that is an expense pit. But I am not a CPA, thats for you and them to figure out. But your comment and how you deal with your taxes has nothing to do with the cost it takes to own your boat. And in this economy I seriously doubt most people are looking for more write-offs!
Quote:
Originally Posted by N0NJY
Look Cap'n - No offense meant here, but...
First of all, thank you very much for taking the time to reply with your post. I completely appreciate your reaction, but please notice, I never said don't have the dream, I just have said, before buying a boat analyze the cost. If you can afford it and can wear the costs, do it. If the costs to own a boat mean that you're going to be spending more than you thought, maybe go sailing with friends who ALWAYS need extra crew, or see if you can charter a boat in a foreign locale.
For people like you who clearly understand the costs and the commitment, you are the PERFECT person to follow through. You'll have a great life onboard a sailboat. Good luck finding the right boat I look forward to reading your future posts on the subject!
I was being polite. I was warned the other day about "verbal fist fights" - but damn it, the guy just showed up here with a "blog" he's advertising, and pointing out that people ought to buy charters rather than buy a boat because HE doesn't want to see it any more.
I'm sorry.
At least I'm honest when I get into verbal "fist fights". I'm not gonna sugar coat something and try to obfuscate - I tell it like it is and that's that.
That's my advice, on my blog. I'm only advertising it in my sig because I want to give my advice on what to buy. You disagree.
I mean its amazing, nobody has said my expenses were wrong or that it doesn't cost a lot to own a sailboat and yet a few have such a negative reaction to telling dreamers that information exactly? You'd rather just let those people walk into the propeller blade so that someone can pick up a neglected boat out of a distress sale? Thats just incredible. Thats exactly why I started my blog, hopefully people don't walk into the propellor, they are WARNED THAT THEY COULD, and they take a proper course of action, thats all. Sorry you disagree that I should do that.
I have a boat I paid $6500 for, that originally cost $36,000 but to buy her new today would cost about $80,000. Funny thing is, everything I buy, from the slip to parts is priced for the $80,000 boat!
I spend every last dime I can on stuff and services, keeping the economy afloat (NO joke!). I demand respect and a salute for my patriotism. All hail me! And you too, except you non-boat owners. You know who you are. You should be ashamed.
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