As rewarding as yacht ownership is, for many people it costs more than they can comfortably budget, and, often, they don’t have the time to do all of the routine maintenance and cleaning in order to keep the yacht in the condition they would prefer. This is why Atlantic Cruising Yachts Business Yacht Ownership program is a great option for 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 ¼ of the time, for ¼ of the cost and your yacht could even become a part of your investment and retirement plans.
Over the years, working with our tax and legal advisors, Atlantic Cruising Yachts has developed a trademarked yacht ownership program called Business Yacht Ownership. This program can dramatically reduce the costs of ownership by taking advantage of the small business tax laws. This is a proven plan we have had in existence for over 40 years and it has helped over 700 people already.
Putting Small Business Tax Laws to Work for You
Like with any business, 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 that is set up, is done correctly and the operation structure to create a profit and qualify for the tax benefits remains in compliance going forward. All the experts agree that this may be the best year ever to buy a yacht. We have followed the expertise of 100’s of tax advisors, plus our own CPA to structure a program that complies with the consensus of these experts. In the few cases where a client was audited in the past (only 5 in the last 10 years that we know of) for an unrelated incident, but the program was looked at, not a single dollar of what was claimed, was disallowed; because the clients followed the guidelines that we will share with you.
In an effort to stimulate the economy, the U.S. Congress enacted a new program for business owners. When you follow our guidelines and set your yacht up as a business you can qualify for up to $1,000’s or even hundreds of thousands in tax advantages plus 10% of the remaining basis, or up to 50% of the total cost. This is available now, but set to expire at the end of the year.
This is the perfect opportunity for anyone looking to buy a new yacht and save 80% to 100% of the costs of ownership. With bonus depreciation, a huge portion of the cost of a new yacht can be depreciated this year, with additional large deductions available, especially over the next 5 years, and you can even reach back and recover taxes paid in last year and apply the deduction this year or carry it forward!