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Old 15-12-2010, 16:08   #16
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..........is don't let the "taxes" tail wag the "boat buying" dog..................
I like these words from Doodles because I've often seen boats purchased for a good price that far exceeds any tax advantage. I hope I am not perceived as callous or exploitive in mentioning this, but there exists a large number of elderly retirees that migrate to Florida. Many of these include in their retirement dreams cruising and they outfit beautiful boats for this purpose. Elderly people are prone to suffer from turns in their quests due to health hurdles. I have seen countless numbers of beautiful vessels sold by burdened widows or surviving families that want to unload the dream of their non-surviving loved ones. As I said, I don't want this to appear exploitive and I would emphasize that the families want to remove this burden that is frequently taking a monthy marina charge; therefore, this is a place to shop,- South Florida.
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Old 15-12-2010, 16:15   #17
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Old 15-12-2010, 16:18   #18
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I
As I said, I don't want this to appear exploitive and I would emphasize that the families want to remove this burden that is frequently taking a monthy marina charge; therefore, this is a place to shop,- South Florida.
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Old 15-12-2010, 16:38   #19
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It doesn't matter where you buy the boat but very important where you register it. You can find the perfect boat for your needs in say florida and register it in a newly formed delaware corporation and not pay any taxes. But you also need to be careful where you are going to keep the boat as it can be a problem to say register your new boat in delaware and park it behind your house in florida all year. You will probably get caught. If you register in tax free state and move around all the time no problem.
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Old 16-12-2010, 06:44   #20
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Once again the effort may not be worth it if you are spending $2k. If you are spending $200k it may be worth a year's cruising money.......i2f
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Old 16-12-2010, 07:12   #21
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I think much depends on where you want to sail and what your budget is. I prefer the Bahamas and Caribbean to anything in the U.S., so one thing I'd consider is boats coming out of charter in the Caribbean, and keep it there, not paying any U.S. tax. Many of the boats that I've seen coming out of charter are in much better shape than many for sale in the U.S. that have been neglected.

One disadvantage to buying in the Caribbean is the cost of doing the boat search, including any motel costs. Also, if you want to make upgrades, it may be less convenient and more costly.

On the other hand, if I'm looking for a cheaper fixer upper, I'd be much more likely to buy something here in the states, so I can drive my own car around as I look at boats, and also have the convenience of my car and many less expensive marine stores available as I do my own projects.
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Old 16-12-2010, 07:51   #22
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Thanks for the responses and ideas. To answer some of the questions, my budget is in the 150K range. I'd like to sail lots of places but the US east coast, Bahamas and Caribbean are all particularly interesting as I will have to initially travel to get to the boat (until we move aboard) so the distance from my home to the boat is not really an issue. Maybe after 6 months, I would sail the boat to California which is within a days drive. Thanks again!
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Old 16-12-2010, 09:39   #23
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Thanks for any ideas or comments.
Dunno about taxes in your part of the world (and thereabouts ) - but I would need a very good reason (in the multiple of '000's) to buy a boat out of position from either where I was based or where I intended to use it.

The boat taxes to be factored in for sure, but not the decider (in your circumstances I would have thought income taxes etc more the decider) - as can be a great deal of cost in both time & aggro (as well as money) in making a new vessel truly shipshape in a short time frame and / or from a distance - let alone both. Nothing on it's own a deal breaker, just to be factored in.
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Old 16-12-2010, 09:59   #24
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We did the boat hunt online. Found one make we liked. Saw there were two listed. One on the East coast and another in Marsh Harbor, Abaco. Wound up getting the Bahamian boat. The P. O. had paid the import duty for the Bahamas (a one time deal no matter how many times it changes hands). Thought about bringing the boat back to the states and figured up the tax etc (over $10k). Then we asked our self where we would be cruising and decided to keep the vessel registered in the Bahamas. We have been back and forth between the U. S. and Bahamas several times. In the States we get a free cruising permit good for one year or until 12/31. Also, it costs $100.00 per year to keep it registered in the Bahamas. It would cost us $300 a year to get a Bahamas cruising permit if we had a U. S. vessel, so you do the math. Its is kinda strange not flying the Red, White and Blue off the stern but it works for us.....Happy Hunting. P. S. Saw some real good deals on the Rio Dulce, Guatemala. Seems boats go there and never leave....
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