IRS

[cstonedent]

What can you write off on taxes? Slip fee? Maintenance?

 

[whatfiero]

Depends on how you have your boat documented most IRS savvy business persons. Set boat up as corporate expense or asset and write off everything even beer. But if qualify you can writ off boat as second home and there for write off interest on loan same as house . But unless your loosing bucket loads of cash in repairs or rebuilding ya can't really write off this way of life to much

 

[Calif. Ted]

For an individual it qualifies as a "second home" so interest on the loan and property taxes are deductible.

 

[Mulf]

To qualify to deduct your boat loan interest as a second home the boat must have eating, sleeping and toilet facilities.

 

[kjretlaw]

What about Solar upgrades? If it's a second home can you get a credit for adding solar panels and storage cells.