Want a Break on Your Taxes? Declare Your Boat a Second Home!
They say it takes love to make a house a home, but all it takes to make a boat a second home is a place to sleep, a place to cook, and a place to, well, you know. If you’ve borrowed money to buy a boat, put a mattress in the bow, installed a camp stove, a port-a-potty or head, and a sink, and as far as the government is concerned, you’ve got a second home — and a sizable tax deduction. Whether it’s a runabout with a tiny cabin or a multi-million-dollar yacht, the second-home deduction for …