Blog Posts — discount

Up to 100% Tax Deduction For Boats Used in “Shared Access”

Posted by Joe Schmitt on

Up to 100% Tax Deduction For Boats Used in “Shared Access”

  Thanks to the Tax Cuts and Jobs Act (TCJA) passed in December 2017, boats that are used 50% or more of the time for business can be deducted in 2020 up to 100% from your income. This tax law meshes perfectly with BoatTEST’s program of shared access, designed to make boating more affordable for both owners and users. Owners of new-or-late model boats placed in the program before December 31, 2020 can deduct up to 100% of the cost of a boat, depending on the percentage of business usage. BoatTEST’s program is turnkey for new boat owners: we market,...

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