berth control
New Member
I have a small business and expensed my boat this year though the business. I mostly just cruise with my wife and friends, but once in a while I go with customers, and other times I take my employee out. I thought this would be legit, but my accountant said no; I can only expense the cost of taking business trips not the whole boat.
I am looking for advice, and figure some of you guys may have some experinece with this. Will it hold up in an audit? Should I just give up and call it a personal item and pay the extra income tax?
Your opinions are appreciated!
I am looking for advice, and figure some of you guys may have some experinece with this. Will it hold up in an audit? Should I just give up and call it a personal item and pay the extra income tax?
Your opinions are appreciated!