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Every yacht owner has had someone tell him at least once that he should charter his yacht. However, oftentimes, the reasons aren’t all to convincing. Plus, if you don’t know anything about placing your yacht into charter, it might sound risky – to both your boat and your finances. Joshua Kerrigan is here to tell you that when you charter your yacht the smart way there’s very little risk. In fact, it can be a lucratively profitable venture. Here are three reasons why Joshua Kerrigan thinks you should consider placing your yacht into charter: #1 Your Boat Isn’t in Constant Use Unless you live on your yacht, there are going to be some weeks when it is sitting in the marina. Not only are you paying for your yacht to sit in the marina, but you’re not making any money on it. As the founder and owner of Yacht Management, Joshua Kerrigan has a good idea of what it costs to keep a yacht going. (The answer, as you know, is a lot.) Why not make money by having someone else pay to use your boat while you aren’t? With a good brokerage house and reliable insurance policy, this is a smart way to have your yacht make money for you. At the least, it should cover its own expenses! #2 It’s an Easy Way to Get Professional Service Many yacht owners enjoy taking care of their own boats, which Joshua Kerrigan understands. However, some maintenance tasks need to be performed by a professional. When you charter your boat, you can be sure that several professionals will be looking at your boat on a regular basis. Having these extra sets of eyes are great for catching little problems before they become big problems, believes Joshua Kerrigan. #3 Yacht Chartering Offers Tax Shelter Benefits If you weren’t sold yet, then you should know that there are huge tax benefits for yachts that are placed in charter. Do you know about Section 179 of the Internal Revenue Code? Under Section 179, yachts that are purchased and placed into charter are eligible for one-time expense deductions up to $139,000. That’s huge! Joshua Kerrigan loves telling potential yacht buyers about this tax shelter benefit because it’s just enough to convince many to step over into the realm of ownership. Of course, Joshua Kerrigan doesn’t sell yachts himself. However, he loves seeing people buy and enjoy these boats as much as he enjoys them! For additional general information about yacht chartering, Joshua Kerrigan recommends the following resources:
http://www.swfyachts.com/webpages/ownership_faq.htm
http://www.bellhaven.net/charter-ownership.html
http://www.ivtyachtsales.com/chartering.htm
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Joshua Kerrigan, Yacht Management, Yacht,
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