Smart Yachting Tips for the Season
As the Palm Beach Boat Show wraps and summer approaches, conversations naturally shift to time on the water. Where to go, what to know, and how to make the most of yacht ownership. That is why we are excited to introduce a new column with Paramount Yachts, bringing expert insights from those who live and breathe the yachting lifestyle.
In this first edition, we go beyond the deck and into the strategy. Paramount shares a lesser-known advantage of luxury catamarans that savvy buyers are already exploring: the potential for significant tax benefits.
The Hidden Advantage of Luxury Catamarans
Yachting is often viewed through the lens of lifestyle, but it can also be a smart financial move. For those purchasing a luxury catamaran, there are strategic opportunities to offset costs when the vessel is structured for commercial use, such as chartering.
In the right scenario, catamaran owners may qualify for depreciation and operating deductions. These benefits can apply to expenses like crew salaries, maintenance, insurance, refits, and even loan interest if the vessel is used as an active business asset.
What the New Tax Legislation Could Mean
On the horizon is the proposed Tax Relief for American Families and Workers Act, which may reinstate 100 percent bonus depreciation. If passed, this would allow qualifying buyers to deduct the entire purchase price of their yacht in the first year.
This kind of legislation would benefit not only individual owners but also the broader brokerage and resale market. It could open up new acquisition opportunities and increase the appeal of purchasing now rather than later.
The Takeaway
Luxury catamarans are known for their space, comfort, and performance. With the right structure and expert guidance, they can also become a powerful financial tool. Whether you are considering private use or charter potential, partnering with a maritime tax advisor and an experienced brokerage, like Paramount Yachts, ensures you are making a smart, informed investment.
Stay tuned for more insights from Paramount Yachts in upcoming editions of the Altima Scoop. Smart yachting begins with knowing what is possible.
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