[Rhodes22-list] If I can't fix the Rhodes, another sailboat for now?

[Hank]

For the interest to be tax deductible on a boat, it has to qualify as a 2nd
home and needs the following:

Sleeping Quarters
Head
Cooking facility.

Rhodes has all three so good to go.

Hank

On Tue, Jun 1, 2010 at 2:29 PM, Michael D. Weisner <mweisner at ebsmed.com>wrote:

> Ben,
>
> How is the interest on the loan tax deductible?
>
> Mike
> s/v Shanghai'd Summer ('81)
> Nissequogue River, NY
>
>
> From: "Ben Schultz" Tuesday, June 01, 2010 12:31 PM
> > If Alex or any other potential buyers are out there lurking, consider
> > taking
> > a loan to get a recycled Rhodes from the factory.  If I had waited until
> I
> > could afford one, I would have missed out on many years of sailing.  Rose
> > worked with my lender to get me a great price and rate on a loan, and
> when
> > you consider that the interest is tax-deductible, the cost of borrowing
> is
> > considerably low.  I'm glad I went that route so many years ago.
> >
> > Ben
>
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