LogFAQs > #978967857

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Topic	Did you know? There is a Yacht tax deduction. If you own a Yacht you can DEDUCT
willythemailboy 02/21/24 5:38:07 PM #18:	ClayGuida posted... Why exactly do the rich need so many tax breaks? If you adhere to the IRS guidelines and get the competent advice of a knowledgeable CPA, your charter yacht operations may qualify as an active business eligible to take advantage of this and other sections of the IRS code. Running a boat to rent out to other people is generally a small business rather than a billionaire, at least in the under-100-feet category. --- There are four lights. <cite>willythemailboy posted [p:978967857] in Did you kn... [t:80702401]...</cite> <quote>ClayGuida posted... </cite><quote>Why exactly do the rich need so many tax breaks?</quote><quote>If you adhere to the IRS guidelines and get the competent advice of a knowledgeable CPA, your charter yacht operations may qualify as an active business eligible to take advantage of this and other sections of the IRS code.</quote>Running a boat to rent out to other people is generally a small business rather than a billionaire, at least in the under-100-feet category. --- There are four lights.</quote> ... Copied to Clipboard!
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