Yacht Ownership as a Business
Independent Yacht Broker for Catamaran Guru
Specialist in Charter Management Yacht Ownership as a Business
Yacht Ownership as a Business
Through Catamaran Guru, we help make owning a new yacht a reality through Yacht Ownership as a Business. The concept of Yacht Ownership as a Business is the #1 way to reduce the cost of owning a new yacht. Our clients offset the cost of ownership by placing their yacht into charter management.
Using existing IRS tax codes, our clients are able to purchase a new yacht with a value up to $1M and depreciate it as an asset of your yacht business offsetting a personal tax liability you may have. In addition, all of your operating expenses are tax deductible allowing you to offset any charter revenue you may earn while the yacht is in charter.
It is easier than you might think. Once you decide on the yacht you want, we refer you to a tax advisor that can help you set up your LLC and advise you of what is needed to stay in compliance with IRS guidelines. You will need to show that you are an Active Participant in your business by logging anywhere between 100-500 hours annually in the charter of your yacht. The time logged can include visiting your yacht 1x every quarter for maintenance, attending boat shows, management of a charter booking website specific to your yacht and involvement with the maintenance of your yacht. Your tax advisor will advise you of the yacht depreciation schedule that is best for your financial situation and the steps you will need to show that you are an active participant in the charter of your yacht.
Happy to schedule a call in the near future or meet in person to discuss options in more detail.
