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post #11 of 16 Old 07-21-2002
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Definition of "Yacht"

Our Yacht Club by laws require that to be a member one must own a vessel propelled by a regularly installed engine or by sails set on a fixed mast. That might be a tug or fishing
boat. Hadn''t really thought about it before.
Some folks have converted working boats to pleasure vessels.
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post #12 of 16 Old 07-22-2002
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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...
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post #13 of 16 Old 07-22-2002 Thread Starter
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Definition of "Yacht"

I knew about the "second home" deduction, but since I borrowed from my home equity line of credit, I''m already getting the interested as a deduction.

Now, if I use the boat as my office, perhaps I can claim the depreciation. ;^) If you''re an IRS agent, I''m only kidding.

~ Happy sails to you ~ _/) ~
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post #14 of 16 Old 07-22-2002
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Definition of "Yacht"

If you need to know if your boat is a yacht, it probably isn''t !! ;-)
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post #15 of 16 Old 08-01-2002
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Definition of "Yacht"

Re: Yacht. Jeff is right. A yacht is a vessel used for private cruising, racing, or other noncommercial purposes. It is derived from the early Danish jaght which was short for jaghtschip which meant hunting boat.
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post #16 of 16 Old 08-01-2002
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Definition of "Yacht"

I agree Sailormon6. Definitions change over time with use. The average person who has no yacht and is not around them only knows them by the press when newspapers, and they are associated with rich people and celebrities. Most people think a yacht is a big, expensive private "yacht".
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