Three questions determine if a boat or any business expense is deductible: Is it ordinary and necessary? Does it help run or grow the business? Does it improve your team or client experience? Laptops, software, conferences, client lunches, and employee benefits all qualify.
Can you write off your brand new boat? Well, that depends. Ask yourself these 3 questions. Number 1, is it ordinary and necessary for your business? Your laptop, your phone bill, your software, it all counts. Number 2, does it help you run and grow your business? The business course you bought, the conference you flew to, that coach you hired, all deductible. Number 3, does it improve your team or client experience? The lunch you went to with a client, the gift card you sent a customer, your employee benefits, write it all off. Comment deductions and we'll send you our free guide with 25 expenses you can write off starting today.
