Mike Kimball, CPA
mikek@yachtstaxadvisor.com

From hundreds of hours of research has emerged a complete, concise explanation of the tax rules for yachts. This guide is informative, reliable and verifiable. 

This book explains in everyday English how the same tax rules which permit deductions for company cars, airplanes and awards of expense paid vacations can be used to confidently take deductions for
business uses of your yacht. Also included are strategies for dealing with the 14-day/vacation home rules (which apply universally to charter boats), and depreciation. Sample documents (including a Corporate Resolution, Statement of Business Policy, Suggested Logbook entries and Tax Return Disclosure Statement) make it easy to adopt a business plan for your yacht.   

The book also expands the discussion of personal use, mortgage interest and tax return disclosures for charter income and deductions.  It also addresses rentals from agency managed charter boats and includes strategies for dealing with the not-for-profit (hobby loss) rules and passive investment rules.

"An excellent practical source of tax information for business use of a yacht.  I would highly recommend the "Tax Guide" to anyone considering buying or using a yacht for business purposes."

   Byron Prusky
    Tax Attorney, former IRS Appeals Officer
    Philadelphia, Pennsylvania