Florida Yacht as a business

Are you currently paying taxes that could be diverted & applied to creating equity in a new yacht?

Smart Yacht Ownership through our Yacht as a Business Program  

Learn the secret to living your dream! It is not impossible or too good to be true and here is why:

As gratifying as yacht ownership is, it tends to cost more than most people originally budget for and that is why charter management is a good option to reducing ownership costs. With the new tax laws currently in effect you will find that those costs can be even further reduced. You could own your yacht in about 25% of the time at about 25% of the cost that could form part of your retirement plan.

 

Florida Yacht Group has developed a Yacht Ownership Programs that will dramatically reduce the costs by simply taking advantage of the current tax laws.

You can legitimately divert some of the taxes that you're already paying to create equity in your new yacht. Buying a new yacht and placing it in charter service is an effective business tool provided the business is set up correctly and the operation structured to qualify for the tax benefits and remain in compliance going forwards. All the experts agree that 2011 may be the best year to buy a yacht.

 

In an effort to stimulate the economy, the U.S. Congress enacted The 2010 Tax Relief Act, which benefits businesses by increasing the 50-percent bonus depreciation deduction available previously to a 100-percent deduction for qualified investments made before January 1, 2012.

 

What does this mean for you?  This is the perfect opportunity for anyone looking to buy a new yacht at a huge discount - the entire cost of a new yacht can be depreciated this year, and allows you to reach back to and recover taxes paid in 2010, you can apply the deduction this year or carry it forward to 2012! 

 

Congress has repeatedly increased the Sec. 179 deduction and investment limits to encourage spending by businesses. For tax years beginning in 2010 and 2011, the 2010 Small Business Jobs Act increased the Code Sec. 179 deduction and investment limits to $500,000 and $2 million, respectively. As a result, businesses are now allowed to expense the purchase of up to $500,000 in new and used assets placed in service during the tax year.

 

Florida Yacht Group’s team of specialists include some of the recognized experts in this field, and we have the most complete program available to make it possible for you to qualify your yacht purchase to be eligible for this program:

 

• We will work with you and your tax professional to qualify your yacht as a business to legitimately take advantage of tax deductions available to you. 
• Although Congress and the President are encouraging taxpayers to invest in new property purchases under these incentive provisions one should exercise care to ensure the deductions will stand scrutiny.  Florida Yacht Group’s experts together with your personal tax advisor will put your business on the right track from the outset.
• Although the acquisition of a new yacht may be an effective business tool, the tax benefits must be carefully planned, documented, and implemented and Florida Yacht Group will assist you every step of the way.
• Florida Yacht Group are dealers for some of the best brands in the world and we offer the added luxury of making it possible for you to place your new yacht into service at one of our three Florida yacht charter bases in:

·          Coconut Grove, Miami, Florida

·            Key West, Florida

·            St. Petersburg, Florida

·            Marsh Harbour, Abaco, Bahamas

 

 

If you are a US tax payer – and enjoy sailing and boating  – this program will work for you:

 

1. Florida Yacht Group actively seeks innovative ways to help make yacht ownership more efficient, affordable and enjoyable.

2.      When you set your boat up as a business you qualify for tax advantages that can offset your ordinary income. We'll show you what they are and how they work.

3. We will discuss and plan your exit strategy.
4. Make your boat part of your retirement plan – own your yacht outright at a fraction of the price.

5.      We will explain what a charter management plan is and why the yacht as a business plan will work for you.

6.      You can have the boat of your choice, placed in any of our bases.

7. The benefits outweigh the costs.

 

This information is general in nature and purchasers are encouraged to seek experienced legal counsel in yacht acquisition planning and implementation.  Florida Yacht Group is not a licensed Tax Attorney or CPA and is not qualified to give legal advice but we can put you in touch with experts who are.

 

For more detailed information and a consultation
with a licensed tax professional call Dave Sell at
561-844-1100 or email DaveSell@floridayacht.com