D.J. Posted January 31, 2007 Report Share Posted January 31, 2007 I was hoping somebody on here can help me out. Can I write off my new boat as a business expense? I have heard both ways on this. Some people have told me I can because I use my boat for advertising and for product testing purposes. I think I am going to break down and go to an accountant this year because I hate dealing with tax stuff:mad: Thanks. D.J. Quote Link to comment Share on other sites More sharing options...
rxfish Posted January 31, 2007 Report Share Posted January 31, 2007 The answer is yes. I have written my off boat since new in 2002 and all my taxes are done thru a tax man. I write off the gas, oil, the insurance, the luxury tax, the license to give you an example. Course everything related to the business is a write off as well and its all above board. Just be sure and keep receipts for everythiing. Quote Link to comment Share on other sites More sharing options...
rsinyard Posted February 1, 2007 Report Share Posted February 1, 2007 I also write off my boat on my lure business. But fyi, you have to show a profit 2 out of 5 years. But that can be padded. I actually made a microscopic profit this year. Quote Link to comment Share on other sites More sharing options...
