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Yacht & Boat Donations Guide (Tax Benefits, Process & Benefits)

Welcome to Yacht Hunter. Hey guys! Are you considering donating your yacht or boat? Yacht Hunter has got you covered with our comprehensive guide to yacht and boat donations! Let's enjoy the yachts with me and subscribe to my channel.🙏🙏    / @yachthunter   ⏲️⏲️ Time Stamps ⏲️⏲️ 00:00 Intro 00:05 Yachts Donations 00:43 Intervening Use 00:51 Alternative: Sell On Your Behalf 01:17 Ownership: Individual Vs Corp 02:20 Outro Donating your yacht or boat can be a really great option that helps various charitable organizations while deriving a large tax benefit to the owner. Once you donate a boat or yacht, you are absolved of operational costs: crew, dockage, maintenance, etc. Once the use or program is determined as to how the yacht or boat will be utilized or sold by the foundation (1 - The yacht or boat is used for 'intervening purposes', which means the vessel is used to help the charity or organization carry out their activities. For example instrument deployment, education, or transportation. 2) Your yacht or boat will be sold through liquidation or on auction. The more attractive option is to have it donated and used to obtain the full benefit. When donating a yacht, the owner is required to obtain an appraisal which will determine how much value is to be assigned for the donation. If the donating owner owns the yacht as an individual, they can deduct the full value of the vessel against their taxable income so long as it doesn't exceed 50% of their income and 10% for a yacht owned by a corporation. Yacht donations are very common for owners that have experienced huge capital gains in a given year, owners who have had the yacht listed on the market for long periods of time, and owners that prefer the tax benefit as opposed to the time and uncertainty of taking on a refit. The process can be a bit tricky and confusing but I will be more than happy to discuss your boat donation or yacht donation but hope this youtube video helps. If you want to learn how to donate your boat or yacht to a boat donation or yacht donation charity, and to find out how donating a yacht will be treated by the IRS, reach out to me Chris Mortimer the Yacht Hunter and I'll guide you the best I can alongside a CPA or maritime attorney to optimize your benefit. Finally, I hope you enjoyed and benefited from this Yacht review. If you enjoyed it, Don't forget to subscribe to my channel for more helpful tips and advice on yacht hunting! Thanks for watching and Happy Yachting My Friends! Please Subscribe Now 👍    / @yachthunter   Follow us on 👇 LinkedIn:   / theyachthunter   Twitter:   / yachthunter   Instagram:   / theyachthunter   Get my free Yacht buying E-book! https://bit.ly/yachtbuyingguide More info about the Yacht: www.theyachthunter.com #yachthunter #yachtsdonations #yachtandboatdonations #boatdonations #yacht #yachts #yachting #luxuryyachts #yachtforsale #yachtstyle #yachttour #yachtsales #yachttours #superyacht #superyachts #boating #shipping