I'm with you Rhea,

I got a great deal on a bank repo wellcraft 20' when I was young and free. I spent more money taking care of it than I paid for it every year.

And why are you hating on Tennessee? The best news stories I see around here come from rural Pennsylvania, which I refer to as Pennsyltucky.

As far as the deduction, you can deduct anything, it is the audit where it gets tricky, what they will allow. If you deduct a boat, you better be able to prove without a doubt that it is strictly business use.

For instance, you install on boats and use it as an installation vehicle, (I've seen marine mechanics do this). If its sole purpose is to demo marine electronics it might fly, if you only use it for entertaining builders, maybe.

You may be better off just buying it personally, but have the business pay for the fuel and upkeep, easier to make a case for.

Then again ask your accountant, he /she's the one going in front of the IRS with you.