Can I Claim Tax Deductions for a Yacht Purchase? by Lewis Kevelson, CPA
Posted on February 13, 2025 by Lewis Kevelson
Buyers in the market for a yacht often hear from friends and anxious salespersons that they can claim federal income tax deductions when using a yacht for business purposes, such as entertaining clients or renting it out for private charters to generate income. This is often coupled with the promise of large depreciation write-offs against […]