1. Phone and utility deposits – $3,500. This typically involves a five year lease with a 40% balloon payment. 1-800-700-2009 Boat Loans Charter Loans RV Loans Documentation Insurance Contact Apply myLoan. As long as it contains the required facilities, you can claim it as your main home on your taxes. Wells Fargo is ready to help you optimize your fleet so you can ensure your company’s vessels are in the right place at the right time. Take a charter boat operation, for example. Interest rate. Pick a business name & business entity that works best for you. In some cases food and beverages may be added at an extra cost. Making that escalated monthly payment, you’d owe approximately $79,200 on your boat loan after 5. National footprint: loans available across the U. Give us a call at Fairwind Financial, 203-712-7204 or email Bob at dunford@fairwindfinancial. *Subject to qualifying states and credit stipulations. Rates range from 7. One type is peer-to-peer charter, whereby you list your boat’s details, add photos and videos, offer available dates and select a price. "With recreational policies, the majority of people carry a $300,000 limit," said Pellerin. Whether you are buying the boat from a dealer, broker. ESTELLE: Well that’s a good tip. Federal and state lending laws regulate consumer financing. Interest Rate (APR) *. Draft a boat charter business plan. Best price guaranteed, verified reviews, and secure online booking. ELENI. Cons. Boat Loan Calculator. Your broker will be able to provide your finance company with a. To help you find the right policy, we researched leading insurers and identified the eight best boat insurance companies of 2023. The FFP provides long-term fixed rate financing for the cost of:Down Payments: 10% on boat loans up to $99,999. Here's how it works. 24% APR. Like new one new engine other 200 hrs new refashed bottom spend 24000. Deals & Offers You can benefit from some great savings on your next yacht charter if you book at the. You can deduct insurance, fuel, repairs, crew salaries, depreciation, and hurricane storage. Transferring ownership and registration of a boat is a critical step when taking over boat payments. Since 2007, we have been helping our customers upgrade their lives by getting into their dream boat with low rate boat finance. Their boat loans come with affordable interest rates, zero fees, and with a broad spectrum of repayment terms to meet any preference. Marine Services - Boat Loans, Boat Insurance, Vessel Documentation, Marine Surveyors, Boatyards, Marinas and more. Apply now Call 877-373-3733. Over an agreed time period, you pay back the specified loan amount, with interest. Competitive boat loan rates. You can choose how and where you sail, as well as your menu, activities and guest list. Familiarize yourself with these laws by visiting and If you have any questions regarding yacht financing feel free to contact Jeff Johnson, HMY Regional Sales Manager at 954-465-8980. After careful searching, you’ve found a boat that will suit your needs for $35,000. La Datcha 77m Damen Yachting from $740,000 p/week ♦︎. Their average basket size is $6,000. You can apply online or over the phone. Copies of original loan agreements/promissory notes on. 600+ Experian Score. Bank of the West is our top overall pick for a boat loan. The benefit of treating a boat or RV as your primary residence, is to take allowable homeowner tax deductions. Whether it’s financing for a used boat loan or getting the best terms on a high-end yacht, our specialists are trained to deliver the top finance options for virtually any type of watercraft, ranging from $10,000 to $4,000,000. Repayment terms between One and seven years. Meanwhile, a charter in Milwaukee, Wisconsin will charge $750 for an 8-hour charter with up to six people, which averages out to under $100 per hour. Repayment Example: An American Express Personal Loan of $10,000 repaid over 36 months at 7. The company finances new and used boats, as well as charter boats. Sterling Acceptance was founded in 1987 by avid boaters as well as banking experts. By starting a boat charter business, you offer people the chance to share the wonderful experience of being on the water, and all that it has to show. The Charter Yacht Ownership Program is a cost-effective way to own your own boat in the British Virgin Islands while avoiding the stress and expense of traditional ownership. Highlights include: Flexible loan terms; Fixed and adjustable rate loan programs; Multiple down payment options; Competitive rates; Apply for a Charter Boat Loan The boat and a charter ownership program is offered in a Part Financing program by the charter business to you as the potential buyer. Meanwhile, Southeast Financial offers rates as low as 7. Reserved for preowned catamarans, 2 years or older, we do offer the 70/30 management program. You can benefit from our high level of diligence and experience, as well as our ability to offer flexible, cost-effective options that can address your cash flow, tax position and lifestyle needs. You may be eligible for 24/7 roadside assistance coverage. Recreational vessels with a sleeping berth, cooking, and toilet facilities whose owners have a secured boat loan will be treated the same as second homes for the purpose of deducting loan interest, though the cap is now $750,000 for new loans originated after 2017, versus last year's $1 million. Watch on. Boat Loan Calculator. S. Stay on top of SBA 7 (a) loan interest rates to take advantage of affordable financing for your small business. Kristiann and Graham, a couple from Texas, came to us just over a year ago with their dream of buying a catamaran. These deductions are itemized on Schedule A of an individual’s tax return. On a $100,000 boat, the lease payment might be $1,000, so you put down $2,000 instead of $20,000 at the start. A: If you have your own commercial insurance policy boat owners can expect to receive 90% of the boat rental price. The application is simple and straightforward and the terms and repayment of the loan can be customized to fit your sales volume and the best-desired time-frame for your business. Their ultimate goal was to buy a catamaran and place it in a crewed charter program with them as owner operators. Gather all documentation needed, including a personal financial statement, credit report, and tax returns. However, the main way that you save money on a boat loan is with a lower interest rate. For example, a small sailboat may be more affordable than a luxury yacht. Loan Amount Up to $500,000. We have contracts with 330 charter fleets. Two-week closings, lower rates and fees with. Serving the boat financing needs of individuals that have been declined for the following reasons. Most people work through their boat dealers since dealers have experience setting up boat loans. Coast Guard Station Miami Beach crewmembers board the 50-foot pleasure boat Natalie on the Miami River in December 2019. Other start-up expenses including stationery – $1000. Other rates may apply based on the age of the boat, the finance amount, and your current credit scores. for New or Used boats. From flexible guidelines for rural housing and construction projects to jumbo loans and down payment assistance, there's a Specialty Product for you. Most companies offer on-site financing and insurance, help with boat selection and outline highlights of what is basically fractional ownership on steroids. Because Lightstream has high credit score requirements, it’s able to offer the best personal loan rates. If you’re buying a new, modest-sized boat from a dealer, then your regular bank (Revolut or N26) may be the best choice for your boat loan. GREAT RATES and SERVICE from the largest marine lender in the nation. Home Loans for Doctors. Boat loans from Trident Funding, by contrast, can have amortization schedules ranging from 84 months (seven years) to 240 months (20 years) long. If you're financing a vessel, lenders may also demand you carry insurance. If you target excess charter income to offset your debt, you would pay an extra $228 toward your loan each month. 91, effectively reducing the cost of the. . According to recent data from Edmunds, the average new car purchase was financed for $40,602 in the second. With regards to funding, the main sources of funding for a charter boat business are personal savings, credit cards, bank loans, and angel investors. The deduction is also limited to interest on up to $750,000 of mortgage debt. BoatUS provides a range of benefits and services, representation for boaters’ rights, and offers many savings opportunities to more than 700,000. 1 If you are a Citizens Personal Checking, Savings or Money Market account customer that has set up a direct deposit with a payor, you may be able to. 61 payment with a total finance. The company offers same-day approval and potential same-day funding, and satisfied customers who left reviews on. Featuring Sea Ray, Azimut, Boston Whaler, Harris Pontoons and more. You can choose your own funding date once approved for your boat loan, even if it’s the same day you applied. The total you’d pay for the boat over the five-year term would be $123,750 ($41,250 down; $82,500 in mortgage payments). One lender in the boat loan market is Bank of the West, through its Essex Boat Loan arm. Dial 1-800-708-6680 for Pay by Phone Services. Equipment loans and leases. Get the lowest APR rates by comparing over 20 banks, same day approvals, and funding as fast as 24 hours! This pre-qualification conducts a soft credit check and has no impact on your credit score. Charter boat ownership is a great way to accelerate buying your dream boat, profit from strong demand in the tourism industry and provides a fully managed solution to boat ownership while you are still. Download our free Boat Budget Spreadsheet to use for your annual boat budget. We have assembled a team of Marine and RV loan experts specializing in marine lending, loan underwriting, US Coast Guard Documentation, state titling and yacht insurance. Step 4: Create a Charter Boat Business Plan. Boat loans with regular banks: a good option to finance a small yacht. Specialties: Enjoy a harbor cruise with a private captain or go on an adventurous ocean excursion! Welcome aboard our beautiful former. He shares details and his experience about owning a. It suggests that booking 18-20 charters a year on an averaged sized sailing yacht might gross $200,000 to $224,000 per year. 24% Apply Now *Estimated APR, or Annual Percentage Rate, is the annual cost of the loan, which includes other charges and fees. Call 800-342-4310. Do you rent, lease or charter your boat to others? If so, many of your boat related expenses can be deducted as a rental expense. Plus, it’s in the dealers’ interest to ensure. Trust us with the rental of your motorboat, sailboat, or. com. Applicant will be charged $5. There are three basic steps to follow to get a boat loan: Identify and price the exact boat you want. As a result, a personal loan could give you more flexibility in the make and model year of the boat you buy. Please contact for latest inventory, import. So, Captain John, a sole proprietor, is eligible for an advance of $1,000. More Services. Boat loans from Trident Funding, by contrast, can have amortization schedules ranging from 84 months (seven years) to 240 months (20 years) long. Buy or Lease the Right Charter Boat Business Equipment. Financing a recreational vehicle at 7. Boat loans with regular banks: a good option to finance a small yacht. Fill in your loan term. This includes 1,642 new vessels and 910 used boats, available from both private sellers and experienced dealers who can often offer various boat warranty packages along with boat loans and financing options. Use a car loan calculator that compares some other credits and initiate view exactly what the transaction will be. ABOUT US Sterling Associates Helping customers find specialty financing since 1991. We work coast-to-coast and one-on-one to find every customer the best rates and the best deal for their financing needs. The charter income will pay for the second half of the yacht! After 6 seasons in the charter, the yacht is yours free & clear. La La Land Charters is seeking a total funding of $3,000,000 of debt capital to open its charter boat company. To start this business, all you need is to get a boat, the licenses and permits that will let you fish and transport customers, and enough insurance to cover you should something tragic happen. Charter Fishing. Fishing charters should include the cost of the captain and vessel, fuel and dockage. Boat Loans and Financing in Missouri. m. OceanPoint Marine Lending offers personalized marine financing programs,. We can determine during a 5-minute telephone conversation whether or not we can assist you. As long as it contains the required facilities, you can claim it as your main home on your taxes. Credit unions: Your credit union can be a great place to start. If you’re looking to take out a used boat loan, PenFed could be a solid option. New York Community Bank (NYCB) and Flagstar Bank are now one. Quote boat insurance and be covered for as low as $100/year *. It offers boat loans from $5,000 to $5 million and approvals take less than 24 hours. The BoatUS Peer-to-Peer Boat Rental Policy provides up to $300,000 in liability coverage, which is comparable to most recreational policies. MarineMax has partnered with leading lenders to offer you some of the most competitive rates on boat loans and financing in Missouri. For Boaters: Boats for sale and charter, boating services and much more. Properly completing this process ensures that you become the legal owner of the vessel, with all rights and responsibilities that come with it. 49% for 6 years or 7. The boat has comprehensive insurance in the name of the owner or the LLC from the time the keels touch the water. g. Used Boat Loan Rates and Terms54' Headboat | Capt. The boat loan rate that you qualify for will depend on factors such as credit score and payment history, as well as the term of the loan, and the age of the boat you’re buying. Simply stop by any Citizens branch during normal business hours. 30. 30. If you’re considering boat financing, 360 Finance can help you with: Low total cost low and low repayments. Most lenders cap typical boat loan terms at 20 years—but the key here is that these are secured boat loans. Marine loans and refinancing options. Loan limits for boat purchases can be much higher than for auto purchases. Given the wide array of vessels and their prices, direct boat financing lenders can provide 15- or even 20-year loans. No payment for up to 60 days. Business Service Center. Loan size may be limited for early-stage schools. Our staff is working in a hybrid environment. Loans available to independent schools and charter management organizations. New and used boat loans. Most banks will offer boat loans that use the boat as collateral. Hit the open water — or a quiet lake. 800-615-1933. October 25th - 29th. 0800 300 500. To finance a boat, you can go in one of three directions: Arrange financing through your boat dealer. 1-800-700-2009 Boat Loans Charter Loans RV. Choose from rental boats which are online bookable with the YachtFinder. Locate boat dealers and find your boat at Boat Trader!Auto Loans as low as 4. Boat Loan Interest Rates. Some expenses, like fuel costs and insurance remain fixed across all categories, but the other expenses can vary significantly. Not just on new boats. If you use your boat to commute to-and-from your business location, you may qualify for tax deductions. Open boat 7 days a week -. $2,000,000. For borrowers with good to excellent credit, LightStream offers loans up to $100,000. LightStream issues boat loans from $5,000 up to $100,000 for qualified borrowers. Generally, new boat loans may offer longer loan terms, ranging from five to 20 years, allowing you to spread out the cost over a more extended period. 49% APR for buyers with excellent credit and can range as high as 17. You’ll need IRS Form 1098 to deduct the interest and also any points paid to secure a loan. Lease syndication and securitization of assets. Boat insurance helps you protect your boat or personal watercraft (PWC) investment. All it takes to get started is clicking the Apply Now button here and we can get you a credit decision within 24. The cost of the purchase of fishing boats: $125,000. Credit Cards as low as+ 11. You can also call 1-800-999-3961 or visit any branch and ask for details. Sail ⁄. US$289,000. Captain Cal II. Not everyone will qualify. The boat itself often serves as collateral for the loan, which means that if the borrower fails to repay, the lender may repossess the boat. YACHT LOANS AND BOAT FINANCING The first step in financing your new or used yacht is finding the loan program that is right for you. Finance companies will use one or more of the following guides to determine the value of the vessel for finance terms. Our team has decades of experience creating customized boat financing plans. 16. Image coming soon. Boats in Virginia. Monty Hawkins | Website. To understand the financial implications of different loan terms, you can utilize online tools such as a Boat Loan Calculator. Super nice guy. Join us aboard the Party Boat that fishes like a Private Charter! Specializes in precision fishing of the natural, shipwreck, and artificial reefs off the coast of Maryland for Sea Bass, Tautog, Summer Flounder, and Tilefish. According to FinAngler Charters, which created a business plan for a fishing charter in Florida, a new boat can be had for a little over $41,000, but they also can cost much, much more. Boat loans used to be more limited in length and with larger down payments; today, terms of 10 to 20 years are quite common. Our expertise in finance, documentation and insurance allows you to. For a yacht or a houseboat that costs up to $500,000, expect to put down 20%. You can rely on real-time prices and updated availability. Buying a boat can represent the fulfillment of a lifelong dream, and for boats priced at $100,000 or less, LightStream is the best way to make it happen. Financing the boat of your dreams is easy. For most banks you'd need to borrow at least $75,000 to get a loan of that length. Boat Loans: Options,. Reply Share. Any banking institutions putting up APRs less than four% as well as six%. Boating in Bermuda is a lifestyle so give us a call we got a life raft for it all. Additionally, specialized boats like fishing charters or luxury yachts may come with additional costs due to their specific features and equipment. 30% APY. Last updated 26 January, 2023. Read More. The borrower agrees to repay the loan amount, plus interest, over a specified period. For example, let’s say that you want to spend more time on the water as a family. CATAMARAN FINANCING. Find ways to finance your boat charter startup. Sometimes, stage payments and LCs have been combined to advance capital to the builder with a nominal payment of 15 to 20 per cent. Many lenders like to see that your monthly debt is 36. Five years of free charters with Sunsail in Europe, the Caribbean and the South Pacific combined with three years of chartering with Horizon may ultimately. Or. S. For a limited time, get it done by opening a HELOC and drawing funds or converting your balance to a fixed-rate loan at 6. No income verification required on loans under $100k and up to $124,999 (Boat must be 2019 or newer) Start Online Application. "If you're planning to spend less. Nationwide boat dealer with over 60 locations selling, new, used, and brokered boats. , state title, state registration, form CG-1340 Bill of Sale, form CG-1261 Builders Certificate) An application for simplified. Agreed value coverage, diminishing deductibles, choice of medical and liability limits, 24-hour assistance and. For general inquiries about our boat lending services or boat services in general, please contact a Vessel Vendor crew member at 561-600-5006 or send a message in a bottle. Wells Fargo: At Wells Fargo, you can open a secured personal loan that ranges from $3,000 to $100,000, which you can use to finance a boat. Captain Steve, who employs two full time guides and himself, will receive a $3,000 advance. Boat Sales, Imports and Storage. This compromise increases the LC's liquidity for the builder. We act for a variety of clients, on all types of vessels and are able to advise on all standard industry forms. com. The boat loan rate that you qualify for will depend on factors such as credit score and payment history, as well as the term of the loan, and the age of the boat you’re buying. Bank’s boat loans are available in the 25 states where the bank has branches. Here are the main points to note about its boat loans: Its minimum loan is $10,000, with a maximum of $500,000. When the seas are close by, knowing how to start a fishing charter business can be an easy way to generate some extra money. Properly completing this process ensures that you become the legal owner of the vessel, with all rights and responsibilities that come with it. Call Us Today For Our Most Current Rates. To qualify for the bank’s best rate, you’ll need to finance a new boat with a loan greater than $25,000 (no more than 100% of the boat’s value) and a term of 48 months or less. No matter where your passion for being on the water leads you, the process of financing a boat is much less daunting when working with a professional who has experience helping owners of all different types, sizes, locations, and prices of vessels. Charter to whomever you want, whenever you want, and at whatever price you want. A great boat deserves great boat insurance, and at National Boat Owners Association (NBOA), we strive to provide every boater with the best boat insurance available, while also accommodating every aspect of the. In his experience, it takes a year to 14 months to sell a yacht, whereas jets. The yacht financing product offerings include traditional term loans for the purchase of new or pre-owned yachts, refit loans, bridge loans, construction loans and cash-out loans. Up to nine weeks of destination boating time each year. As a Farmers Insurance company, Foremost offers coverage with the same great strength as its name-brand parent company. The tax benefits include: (1) a deduction for mortgage interest or, in the case of a boat, boat financing interest and (2) a deduction for real estate taxes or, in the case of a boat, property taxes associated with the boat. 64% with AutoPay (Rates as of 06/01/2023. Browse one of the nation’s largest inventory of new and used boats for sale. So, the more you borrow, the better your rate is likely to be. Keep a clear focus on the kind of experience. Best for Charters and Sport Fishing. Many bankers are unaware of the many nuances of financing a new or used boat. Charter Boat Purchase. The interest cost of this loan over an anticipated life of 60 months is $40,196. There are no fees required, and same-day funding is available. Highly Trained Loan Consultants; Fast Pre-approval Process (Within 45 min or less) Variety of Programs for 2002 model year or newer; Programs for 600+ credit scores; Pre-Approval is as Easy as 1-2-3. Find a location. Marketing costs: $100,000. The Membership program offers discounts on charter cruises, towing, fuel, boat supplies and fishing stores, watercraft storage, repairs and other services. The interest rate on a boat loan is based on the age of the boat, the total amount financed, your. Simple and Fast home loans for conventional, FHA, VA, jumbo, first-time homebuyers, and more. Underwriting is our expertise, as our underwriters each have 40 to 45 years of experience. Using Your Boat for Business Commuting. Our experience will get you competitive rates and terms. Different boats come with varying levels of luxury, amenities, and sizes. The total cost for facility remodeling to fit into the type of fishing boat charter facility – $30,000. Serving the boat financing needs of individuals that have been declined for the following reasons. Loans; Services; Reviews; Contact. Yacht charters with a world pioneer in sailing tourism. Here’s on average how much boats depreciate: All boats are different but expect them to lose about 10-15% of their value in the first year of use, 20-30% by the fifth, and 30-40% by the tenth year of use. Fill Out an Online Application Today. by ed d. Boat and PWC policies are underwritten by GEICO Marine Insurance Company with administrative offices at 5323 Port Royal Road, Springfield, VA 22151. Owners will generally need to submit: Proof of ownership (e. Online Application. Partnering with Trident Funding. Purchase Price Down Payment Loan amount. Call Us Today For Our Most Current Rates. Accounting questions and answers. Lease syndication and securitization of assets. You may have to visit a branch to close a boat loan, but the bank says it can make same-day preapproval. Loans up to $5 million. The new bill amended the IRS codes around bonus depreciation, deductions,. This article will present all of the reasons why this. LightStream is a consumer lending division of Truist—which formed following the merger of SunTrust Bank and BB&T. Catamaran Business Ownership. 39%, and a $50,000 loan starts at 4. Example of a typical loan: A $25,000 loan at an 8% interest rate for 144 months would include a $270. All transactions are subject to credit approval. Duration of Charter: The duration of your charter can affect the overall cost. It's not just a hobby. ^. The marine financing market is ever-changing. Where to buy new or used boats in the Cayman Islands: Boat dealers and yacht brokers, outboard engine suppliers and used boat sales. TALISMAN MAITON. Most boat charters offer options for full-day or half-day trips, with the latter being less expensive. Borrower had excellent credit and liquidity. That might not mean you’ll get the funds on the day you apply—loans can require additional processing time—but it’s fast. 1. Get up to 100% financing if you're a doctor that needs to buy or refinance a home. BOAT LOANS UP TO $2,000,000 Low monthly payments Competitive boat loan rates No payment for up to 60 days New and used boat loans Partnering with Trident Funding. Bank provides loans of up to $150,000 for new or used boats, as well as refinancing. Affiliate Description: Viravira is an online yacht and boat rental platform that facilitates the rental of gulets, catamarans, motor yachts, and sailboats on an hourly, daily, or weekly basis. You have a budget, we’ve got the boats. Best Boat Loans for 2023 Reviewed & Ranked by Experts. Section 179 Rules. Things to Do. Complete an online Marine Finance Quote without obligation, or phone 1300 CREDIT (1300. The financial burden of a yacht for charter is serious. However,. Underwriting is our expertise, as our underwriters each have 40 to 45 years of experience. In the world of boat sharing, there is little difference between an LLC and a corporation. GEICO Marine Insurance Company is domiciled in Omaha, NE, and coverage is offered in all 50 states and the District of Columbia to boat owners with a U. Draft a boat charter business plan. The largest expense, by far, is the cost of purchasing a boat. Sterling Acceptance was founded in 1987 by avid boaters as well as banking experts. All you need. Boat owners can document their vessel or renew their Certificate of Documentation directly through the Coast Guard's National Vessel Documentation Center . Our finance specialists work for you and will save you time and money by comparing 15 reputed lenders nationwide to get you best-rate finance. To deduct any costs associated with listed property, you must use it more than 50% of the time for business. So if you travel across lakes, rivers, or ocean waters of the United States we can help keep your peace of mind afloat. 50% equals an estimated $520. Coast Guard, the document fee will set you back about $500. Make an appointment. Then you can worry about more important things, like it's about time they open the marina an hour earlier!It goes like this: any loan with a 80% financing (the usual configuration) paired with a maturity higher than 10 to 12 years MAX, is guaranteed to put the buyer significantly upside down at the end of the charter program, simply by virtue of the typical charter boat depreciation and boat value on the second-hand market. m. Boating. Low monthly payments. A secured boat loan means you have offered collateral (more on that below). On August 31, 20x1, the accounting records of the business showed the following information. Give us a call at Fairwind Financial, 203-712-7204 or email Bob at dunford@fairwindfinancial. Best Loan Experience Guaranteed. Use this form to start the process towards owning your dream boat. Aicon; Alaskan; Albemarle; Albin; Amel. Southeast Financial. Top Lake of the Ozarks fishing charters in Fall 2023, from $108 p/p. With over 1,000 clients who have set up in their own successful boat business, our approach has always been offered to provide independent resources to support an individual owner’s goals, not as a program to fill a charter fleet. APR. Whichever are one plusses both minuses of a boat lease? Know how in determine when to buy ampere dive versus when to consider adenine boat leasing alternative. Looking for fast funding and low interest rate boat loans Florida?Loan amounts start at $5,000 and go up to $100,000. : (855) 753-0341. For boat financing, you’ll apply for an unsecured personal loan. Simply enter the loan amount, term and interest rate in the fields below and click calculate. Boat loan rates vary but are usually higher than auto loan rates. If you have absolutely no experience with boats of this size, a great place to start is taking sailing or power boat lessons, ideally on the type of boat you eventually hope to own. 1. . . If you borrow more than $35,000, expect to pay more than $300 a month. Browse this page to compare specialty mortgage options. Subject to credit approval, OceanPoint Marine Lending stands ready to tailor a program to your specific needs. Your charter boat business plan is a living document that should be updated annually as your company grows and changes. 03% p. 99% – 19. Call Us Today For Our Most Current Rates. Certificates as high as 5. Advertisement. The Tax Cuts and Jobs Act of 2017 (TCJA)—a sweeping tax reform—included new beneficial provisions that proved quite lucrative for yacht owners and also yachts for charter that are purchased through and used for legitimate business purposes.