Loved your information. I am interested in just buying a 50ftr to do day charters and live aboard. Do you think this would be a viable business? I would hire people on an as needed basis to cater for food. I see that most day charters are owned buy companies but it seems like there is an opportunity here in the Tampa or Miami area just for sightseeing or sunset cruises
Great! We're glad it was helpful. You can do day charters provided your boat is at least 3 years old OR you have a Jones Act Exemption OR the boat is built in the USA. It is not very easy to get nto day charter because these companies have it pretty much sewn up and the obviously dont like small operators to muscle in on their business. However, if you have a source of business, by all means go for it! Guests usually love smaller groups for day trips. Anyway, reach out if you have any questions!
Added this here because your comments section on your web page is not working it gives me an error. You are not doing this by the kindness of your heart I'm assuming you are making the cake to sell but you are eating the entire thing to, so what is the catch how much do you charge for the program? You also mention that under 179 the entire price of the yacht can be written off for the year of operation but that is not entirely correct. A company cannot take a Section 179 deduction on more than its total annual taxable income. For example, if a company reports $100,000 as its net income, it can only claim $100,000 for Section 179; however, any qualifying amounts beyond the limit can be carried forward to future years. What is the typical charge fee from the charter company? Thank you
We do not charge anything for the information - it is for guidance purposes only - we are NOT tax advisors so you need to get your CPA to advise you. We get paid by manufacturers when you buy a boat. You are referring to the income limitation rule which applies to C Corp, if you are in an LLC then this is a pass through to you personally so the totality of your income is the basis for the deduction. Email us if you want to get a consultation to help you figure out what you pay the charter company etc. It does not cost you anything. But again, we are not tax advisors.
@Catamaranguru I will be make contact with you. We were just thinking on getting a yacht here in San Diego California but now that I'm understanding your program it makes sense. Still not clear what will be our best choice owner operated or charter company, Catamaran or Yacht , new or used. Well Thank you for your informative video and getting back to me so quickly Best regards
Very nice presentation! Your knowledge of the details is obvious, and your straight answers were refreshing. So tell me, what is your part in all this? You don't manage or broker charters any longer, so how are you engaged? Thank you!
Hi Bill, thank you! Since we exclusive represent the buyer, we monetize our website by selling boats (all brands) factory direct through our relationships with the manufacturers. Our cost is already factored in and doesn’t cost the buyer any extra. Our focus has always been to inform our community from personal experience. We have pretty much made every mistake. 😂 Email us if you want to chat estelle@catamaranguru.com
@Catamaranguru Yes great video but I suggest to edit the video right at the begging and state how you get compensated because without that information the video has no validity, it's like asking people if they still believe in Santa.
When you charter the boat how much are the expenses of having a crew and a boat manager. Like what is the average salary for captains managers housekeepers bartender servers deckhand ?
We have concierge marine finance for this program and the charter booking agents do a good job of keeping the boats booked if you work with our agents.
BTW -- Slide information @ 48:00 is really *not* what you intended. "Via" was used where you actually mean "Vs". BIG difference. And while editing, the word you're looking for is "customs duty" (a Tax) not "costumes duty" (the role of a Halloween dress) @ 50:22
"Costumes" duty? 🤣- I guess you don't speak the "Queens" English! 😂 - Anyway, thank you for pointing out these egregious mistakes. We will endeavor to do better. 🙃
What about a person on a st kitts registered boat/trimeran with a st kitts passport living tax free? What about putting your boat in a nevis trust coy?
@@JennySusanti-u1q if that works for you, more power to you! Anything is possible. For US / Canadian citizens (and most counties in the world) this is not an option. If you earn money in these counties, you are bound by their tax laws and will be taxed on your worldwide income. If you relinquish your citizenship you can obviously do it but I believe that you are liable for tax for several years after you renounce your citizenship in many countries including the USA, SA, Canada etc.
This is an amazing video presentation. Thank you for sharing this with the world.
You are welcome! Some of this information has changed slightly but the principle remains the same.
Outstanding. Thank you. Hope to see you in Annapolis.
Loved your information. I am interested in just buying a 50ftr to do day charters and live aboard. Do you think this would be a viable business? I would hire people on an as needed basis to cater for food. I see that most day charters are owned buy companies but it seems like there is an opportunity here in the Tampa or Miami area just for sightseeing or sunset cruises
Great! We're glad it was helpful. You can do day charters provided your boat is at least 3 years old OR you have a Jones Act Exemption OR the boat is built in the USA. It is not very easy to get nto day charter because these companies have it pretty much sewn up and the obviously dont like small operators to muscle in on their business. However, if you have a source of business, by all means go for it! Guests usually love smaller groups for day trips. Anyway, reach out if you have any questions!
Added this here because your comments section on your web page is not working it gives me an error. You are not doing this by the kindness of your heart I'm assuming you are making the cake to sell but you are eating the entire thing to, so what is the catch how much do you charge for the program? You also mention that under 179 the entire price of the yacht can be written off for the year of operation but that is not entirely correct. A company cannot take a
Section 179 deduction on
more than its total annual
taxable income. For
example, if a company
reports $100,000 as its net income, it can only claim $100,000 for Section 179;
however, any qualifying
amounts beyond the limit
can be carried forward to
future years. What is the typical charge fee from the charter company? Thank you
We do not charge anything for the information - it is for guidance purposes only - we are NOT tax advisors so you need to get your CPA to advise you. We get paid by manufacturers when you buy a boat. You are referring to the income limitation rule which applies to C Corp, if you are in an LLC then this is a pass through to you personally so the totality of your income is the basis for the deduction. Email us if you want to get a consultation to help you figure out what you pay the charter company etc. It does not cost you anything. But again, we are not tax advisors.
@Catamaranguru I will be make contact with you. We were just thinking on getting a yacht here in San Diego California but now that I'm understanding your program it makes sense. Still not clear what will be our best choice owner operated or charter company, Catamaran or Yacht , new or used. Well Thank you for your informative video and getting back to me so quickly
Best regards
You're welcome. Look forward to chatting!
excellent
Glad it was helpful!
Very nice presentation! Your knowledge of the details is obvious, and your straight answers were refreshing. So tell me, what is your part in all this? You don't manage or broker charters any longer, so how are you engaged? Thank you!
Hi Bill, thank you! Since we exclusive represent the buyer, we monetize our website by selling boats (all brands) factory direct through our relationships with the manufacturers. Our cost is already factored in and doesn’t cost the buyer any extra. Our focus has always been to inform our community from personal experience. We have pretty much made every mistake. 😂 Email us if you want to chat estelle@catamaranguru.com
@Catamaranguru
Yes great video but I suggest to edit the video right at the begging and state how you get compensated because without that information the video has no validity, it's like asking people if they still believe in Santa.
Have you ever had a all metal trimeran?
Jenni no, it is not a very common thing but I have heard good things about it. Do you have one? I would love to hear about it!
@@Catamaranguru I am planning one for about 3 years from now.
@@JennySusanti-u1q let us know what you find. I would be very interested!
Thanks for the video. What is you paid in full for the yatch, no financing. Can you deduct 100% of what you paid?
Yes you can
When you charter the boat how much are the expenses of having a crew and a boat manager. Like what is the average salary for captains managers housekeepers bartender servers deckhand ?
hi guys, you may want to watch our other videos about crewed yachts. We go into more detail about this. Otherwise email me and we can discuss.
How do I finance the boat and charter it enough to stay on the program?
We have concierge marine finance for this program and the charter booking agents do a good job of keeping the boats booked if you work with our agents.
BTW -- Slide information @ 48:00 is really *not* what you intended. "Via" was used where you actually mean "Vs". BIG difference. And while editing, the word you're looking for is "customs duty" (a Tax) not "costumes duty" (the role of a Halloween dress) @ 50:22
"Costumes" duty? 🤣- I guess you don't speak the "Queens" English! 😂 - Anyway, thank you for pointing out these egregious mistakes. We will endeavor to do better. 🙃
@@Catamaranguru You wrote Costumes in your presentation, not me.
@@raytbrown2 I got it. I was just kidding! 😜
Hi, at @17:47 you said that could fry the crew, what do you mean? Too much sun?
Too many charters will suck the life out of the crew. They are on 24/7 and they really get worked!
What about a person on a st kitts registered boat/trimeran with a st kitts passport living tax free? What about putting your boat in a nevis trust coy?
@@JennySusanti-u1q if that works for you, more power to you! Anything is possible. For US / Canadian citizens (and most counties in the world) this is not an option. If you earn money in these counties, you are bound by their tax laws and will be taxed on your worldwide income. If you relinquish your citizenship you can obviously do it but I believe that you are liable for tax for several years after you renounce your citizenship in many countries including the USA, SA, Canada etc.
@@Catamaranguru thanks
Did u say a crew member makes like 1k a year in salary?
They typically get paid around $80/year depending on how many charters they do and then they get gratuities which can amount up to 100K or more
I need a mentor, maybe I will reach out to you guys!
We would be happy to help if we can.
RAS HOUSE MUSIC 🎶 LABORIE BEACH ⛱️ ST LUCIA
Dünya turu için Lagoon 50 mi yoksa. Lagoon 55 mi daha uygun
Both boats are equally capable to do a sail around the world. However, the newer Lagoon 50 has more complicated systems.
I’m interested in learning more can you contact me?
Hi Sarra, we would be happy to chat. Email to estelle@catamaranguru.com. I don't have your contact info.