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Old 09-11-2018, 19:18   #31
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Join Date: Dec 2010
Location: W Carib
Boat: Wildcat 35, Hobie 33
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Re: Atlantic Cruising Yachts and Business Yacht Ownership

Quote:
Originally Posted by David Hughes View Post
Agreed, but the rules aren’t really all that hard to adhere to, and the same is done with airplanes frequently. The IRS is nothing to fear if you make the effort. Rules can help as much as they can hurt. Just like golf.
No, not hard, but Ive seen it screwed up...some people just have no head for these sorta things.

Also seen those who have tried to claim a vessel was in charter when it really wasnt (that used to be surprisingly common in Florida...till both State & Feds cracked down on it).

In fact, IRS came after me on this very issue once...they lost...being well prepared is good.
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