You can offset the cost of your new Beneteau by placing her in Charter!
Would you be willing to share your boat for substantial tax savings and charter income?
Do you need a large tax deduction THIS YEAR?
The tax rules as they exist now, are incredibly helpful.
For example if:
1. You are at the top end of the tax table.
2. You have, or are anticipating a big increase in income this year.
3. You have a large capital gain from real estate, stock options, or whatever–these deductions can offset that tax liability.
4. You plan to purchase a new boat (and have a marginal tax bracket that would justify a large write off–25% or greater-combined federal/State):
You could get the $500,000. Section 179 deduction
President Obama signs new bill into law 2/17/09..
Here’s the relative information in brief:
- Increases the Code Sec.Â 179 $128,000 expensing limit to $500,000 and boosts the overall investment limit from $510,000 to $800,000, for tax year 2009 (extended from 2008).
- Permits a bonus first-year depreciation deduction of 50% of the adjusted basis of qualified property acquired and placed in service before Jan. 1, 2011.
How do you get the tax advantages? Call your tax advisor for the best advice!
Typically, you set up a LLC or other pass through entity and the tax advantages directly offset taxable income from any (Active) source, including your regular job (W2 income). You do not wait until the end of the year (even the IRS will tell you this.)
For details, give us a call at 619-224-7784. We are open 7 days a week for your convenience.
Timing is everything! If you can get a boat for all, or a majority of the boating season, that’s ideal (ask us what’s available). You can qualify for a full years of tax advantages and get income to cover cash flow the year you place the boat in service. The season is here! Talk to us to better understand how to optimize your situation.
If you are looking for more information online about this opportunity, please give us a call or contact us via email.