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The following page was printed from RemoteCentral.com:
| Topic: | Can I write off a boat? This thread has 35 replies. Displaying posts 1 through 15. |
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| Post 1 made on Tuesday March 18, 2014 at 15:21 |
BrettLee3232 Long Time Member |
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Posts: | December 2009
423 |
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Would love to buy a boat under my business name, not sure how I could write it off? Since we don't do Marine Audio/Video lol
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Knowing that Gold went up a few K makes me think "well now I have to do a better job on selling more equipment".
-Me... Jan. 2014 |
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| Post 2 made on Tuesday March 18, 2014 at 15:25 |
3PedalMINI Loyal Member |
Joined:
Posts: | July 2009
7,860 |
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Yeah, slap your logo on it and use it as advertising! Best to talk to your accountant though
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The Bitterness of Poor Quality is Remembered Long after the Sweetness of Price is Forgotten! - Benjamin Franklin |
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| Post 3 made on Tuesday March 18, 2014 at 15:26 |
Fins Elite Member |
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Posts: | June 2007
11,627 |
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Do some sort of signage on it and put an audio system in it as your demo system and start advertising you do boats
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Civil War reenactment is LARPing for people with no imagination.
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| Post 4 made on Tuesday March 18, 2014 at 15:43 |
SB Smarthomes Super Member |
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Posts: | July 2007
2,634 |
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| Post 5 made on Tuesday March 18, 2014 at 15:52 |
mr2channel Select Member |
Joined:
Posts: | August 2002
1,701 |
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+1 on talking to your accountant... many times they are more valuble than your lawyer...one guy can figure out how you can keep your money, the other wants your money for some hot air :)
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What part of "A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed." do you not understand? |
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| Post 6 made on Tuesday March 18, 2014 at 16:45 |
highfigh Loyal Member |
Joined:
Posts: | September 2004
8,321 |
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On March 18, 2014 at 15:21, BrettLee3232 said...
Would love to buy a boat under my business name, not sure how I could write it off? Since we don't do Marine Audio/Video lol Used to be, if it had a place to cook, a head and a place to sleep, it was classified as a 2nd home. If you use it to advertise and you can have people stay on it for lodging, it might be worth asking the IRS. If you would charter a boat to entertain clients, I don't see why this would be any different, although the amount you can write off may differ. Paying a charter/entertainment falls under Travel & Entertainment, this may fall under different rules. If you can prove its use, I would look into it.
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My mechanic told me, "I couldn't repair your brakes, so I made your horn louder." |
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| Post 7 made on Tuesday March 18, 2014 at 16:48 |
ceied Loyal Member |
Joined:
Posts: | February 2002
5,753 |
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On March 18, 2014 at 15:21, BrettLee3232 said...
Would love to buy a boat under my business name, not sure how I could write it off? Since we don't do Marine Audio/Video lol actually yes you can. contact your accountant so that it is bulletproof during an audit. half the guys at the marina, their boats belong to the "company" my boat was considered a 2nd mortgage for me personally... because thats what my accountant said to do...
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Ed will be known as the Tiger Woods of the integration business, followed closely with the renaming of his company to "Hotties A/V". The tag line will be "We like big racks and tight holes"... |
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| OP | Post 8 made on Tuesday March 18, 2014 at 17:19 |
BrettLee3232 Long Time Member |
Joined:
Posts: | December 2009
423 |
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See it's not going to be a big boat, it's not going to have. A sh**ter or a bed or a sink. Would be a 23' 43k boat. I could slap my logo on her & name her " Write Off" haha
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Knowing that Gold went up a few K makes me think "well now I have to do a better job on selling more equipment".
-Me... Jan. 2014 |
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| Post 9 made on Tuesday March 18, 2014 at 18:01 |
highfigh Loyal Member |
Joined:
Posts: | September 2004
8,321 |
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On March 18, 2014 at 17:19, BrettLee3232 said...
See it's not going to be a big boat, it's not going to have. A sh**ter or a bed or a sink. Would be a 23' 43k boat. I could slap my logo on her & name her " Write Off" haha A lot of 18' runabouts come with a Porta Potty and at 21', they start coming with a small sink. A grill can be added easily and anything with a cuddy cabin, which generally start at 18', can sleep at least two. The boat might be $43K, but the accessories can bring it up past $100K really fast.
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My mechanic told me, "I couldn't repair your brakes, so I made your horn louder." |
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| Post 10 made on Tuesday March 18, 2014 at 19:06 |
3PedalMINI Loyal Member |
Joined:
Posts: | July 2009
7,860 |
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One of my buddies, his dad owns an auto parts warehouse and purchased a triple engine'ed 30ft roballo in the business name
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The Bitterness of Poor Quality is Remembered Long after the Sweetness of Price is Forgotten! - Benjamin Franklin |
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| OP | Post 11 made on Tuesday March 18, 2014 at 19:08 |
BrettLee3232 Long Time Member |
Joined:
Posts: | December 2009
423 |
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On March 18, 2014 at 18:01, highfigh said...
A lot of 18' runabouts come with a Porta Potty and at 21', they start coming with a small sink. A grill can be added easily and anything with a cuddy cabin, which generally start at 18', can sleep at least two.
The boat might be $43K, but the accessories can bring it up past $100K really fast. Ya I'm thinking about a 23' Vbottom Domn8er w/ a 6.2L & open bow. [Link: boattrader.com] similar to that. I don't need all the bells & whistles. Just want a nice boat that can seat my wife (soon to be daughter) & a few friends. I don't need to to 80+ on the water. I'll do a nice stereo in her, slap a logo on her & call it a day! See I'm thinking if my business buys it my wife won't get so mad because "technically" it's not "our" money haha not sure if she will see it that way though LOL
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Knowing that Gold went up a few K makes me think "well now I have to do a better job on selling more equipment".
-Me... Jan. 2014 |
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| Post 12 made on Tuesday March 18, 2014 at 19:10 |
cb1 Select Member |
Joined:
Posts: | September 2002
1,663 |
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Boat= break out another thousand
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why have a nice system if you cant operate it, program the remote the right way the FIRST time! |
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| OP | Post 13 made on Tuesday March 18, 2014 at 19:13 |
BrettLee3232 Long Time Member |
Joined:
Posts: | December 2009
423 |
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On March 18, 2014 at 19:10, cb1 said...
Boat= break out another thousand Yes it is, time to do another install haha
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Knowing that Gold went up a few K makes me think "well now I have to do a better job on selling more equipment".
-Me... Jan. 2014 |
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| Post 14 made on Tuesday March 18, 2014 at 19:28 |
cb1 Select Member |
Joined:
Posts: | September 2002
1,663 |
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I put Sonos on my boat with a NAS connected to the router. Friends can play music from their phone, or choose from my songs. Works great! Would I recommend it for a client, no! But. It's cool!
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why have a nice system if you cant operate it, program the remote the right way the FIRST time! |
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| OP | Post 15 made on Tuesday March 18, 2014 at 20:00 |
BrettLee3232 Long Time Member |
Joined:
Posts: | December 2009
423 |
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On March 18, 2014 at 19:28, cb1 said...
I put Sonos on my boat with a NAS connected to the router. Friends can play music from their phone, or choose from my songs. Works great! Would I recommend it for a client, no! But. It's cool! That's a good idea, what kind of router? I just wanted a Bluetooth enabled head unit & some USB chargers haha
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Knowing that Gold went up a few K makes me think "well now I have to do a better job on selling more equipment".
-Me... Jan. 2014 |
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