1) dock or slip fees at a marina for your houseboat. unless you can use a mooring ball. 2) an insurance policy is a requirement in most marinas, therefore this is a running expense. 3) fuel for the engine(s) and generator (if equipped). if your houseboat is equipped with propane for heating or cooking, this would be another expense.. Pre-purchase costs one area that someone shouldn't forget is the cost of time and money involved in the search of the "perfect" houseboat. this could be for car or flight expenses, for hotel rooms, for meals or travel expenses on the road.. Many boat owners use their boats to entertain clients and potential customers, and this qualifies as a deduction under the entertainment expense category for your business. but be careful here, because the irs looks very hard at entertainment expenses, so be prepared to document every item thoroughly. the rules are straightforward for this.
The irs does allow a business to deduct expenses for entertaining on your boats, such as food and beverages, catering, gas, and fishing bait. but you can't deduct the direct expenses of using the boat for entertainment.. In rhode island, there is no boat tax. in other states, like south carolina, boat owners pay a tax equal to 10.5% of the boats assessed value yearly if the boat spends more than 180 days in the state. cost: varies. insurance. rates average about 1.5% of the boat’s insured value. in this case, a $20,000 boat would cost about $300 to insure.. Expense definition is - the act or an instance of expending : expenditure. how to use expense in a sentence. "gofundme set up for family of atlanta woman killed in bahamas boat accident on her anniversary raises $140k," 12 july 2018 way said the actual profit was closer to $8.5 million, after other expenses were paid..
