Wifey B: Out dinghies are fast too....
Well, the gas ones are. 43 knots or so. Diesel only about 38 knots. We don't run them wide open though. A lot of 25 knots and 10-15 knots. 
How long is it safe to run Wide Open Throttle?
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Wifey B: Out dinghies are fast too....
Well, the gas ones are. 43 knots or so. Diesel only about 38 knots. We don't run them wide open though. A lot of 25 knots and 10-15 knots. 
Just curious. Does that tracker record?David Hughes said:
I know signs mean nothing but, is it feasible to "warn" users they are being monitored and any use as described would mean automatic forfeiture of deposit?
Even tweaking the stops might not do the trick. A lot of us grew up with speedometers that could be disconnected on the old man's car.
Yesterday, east of Fort Myers. He was probably doing 50
Wifey B: There are days I really want a boat like that. But then I realize that you still rarely run over 50 knots and you're dealing with engines and setups that give tons of trouble. I like the Nor-tech Roadsters or the Fountain Lightning. We resist the urge though. Fastest boat we've owned was a Cobalt 30' Bowrider on the lake. 55 knots WOT. We rarely ran over 40 knots and never for more than 5-10 minutes.
Wifey B: You don't run your car slower? Why don't you run it at 10 knots through scenic drives?
And clearly there are safe speeds for every area. I've been one time in a boat that would run 90 mph/78 knots. Honestly, I didn't feel safe and we were in an open area with no waves, no other boats. The margin for error just shrinks too much for me. One piece of tree or something floating just below the surface, one wave hit wrong. No thanks. For five minutes, it's fun. But not regularly. I've never driven my car even half its maximum speed and never will. I feel safe in the right boat, right area up to about 55-60 knots and in a car up to about 74 knots...85 mph. And that only when the speed limit is 80 or more.
Wifey B: Back to the OP and Chartering. Bareboat chartering would scare me. I know how we baby our boats. I know someone else wouldn't do it the same. We regularly check the engines and fluids while cruising. I know my hubby would never be comfortable doing so. I guess if it cut your ownership costs enough though it's worth it.
I'm curious. Is your boat in a charter group of some sort or individually chartered or how did you get into chartering it? How much is it chartered? Was it like easy to get it set up to be chartered?
I'm curious. Is your boat in a charter group of some sort or individually chartered or how did you get into chartering it? How much is it chartered? Was it like easy to get it set up to be chartered?
"Wifey B: You don't run your car slower? Why don't you run it at 10 knots through scenic drives? "
At times we do and at some points we stop altogether, but we do not have a problem with 'waking' other cars so we are mostly OK with just about any posted speeds. On boats you can wake other folks as well as come upon them with little or no visibility and affect others without even knowing it sometimes.
I have felt reasonably safe on our inflatable at 50+ knots and equally as safe on a faster boat over 100 mph. Similarly I have felt completely safe in some cars well over 100 mph - depends on the vehicle involved and the conditions of the situation.
Since this was I an area of the ICW which typically changes rapidly it is somewhat likely that the operator could affect others by traveling at higher rates.
"At times we do and at some points we stop altogether, but we do not have a problem with 'waking' other cars so we are mostly OK with just about any posted speeds. On boats you can wake other folks as well as come upon them with little or no visibility and affect others without even knowing it sometimes.
I have felt reasonably safe on our inflatable at 50+ knots and equally as safe on a faster boat over 100 mph. Similarly I have felt completely safe in some cars well over 100 mph - depends on the vehicle involved and the conditions of the situation.
Since this was I an area of the ICW which typically changes rapidly it is somewhat likely that the operator could affect others by traveling at higher rates.
psneeld
Guru
Maybe the guy practices on the NJ intracoastal during the summer months....plenty of guys bobbing and weaving at 50+
...and in 13 years of being a rapid response guy on the water in a very busy area...never heard of one of the go fasts in an incident either from collision or wake in my area. Speed alone usually isn't automatically a causal factor in accidents.
...and in 13 years of being a rapid response guy on the water in a very busy area...never heard of one of the go fasts in an incident either from collision or wake in my area. Speed alone usually isn't automatically a causal factor in accidents.
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Captain JJ
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Engines always run their best right before they don't!
Engines always run their best right before they don't!
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Engines always run their best right before they don't!
That's what the NASCAR fellas say!!!!
BruceK
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Would it make sense to run 35yo Lehmans at WOT except for a short period? No, no, no.
OP
OP
David Hughes
Senior Member
Just curious. Does that tracker record?
I know signs mean nothing but, is it feasible to "warn" users they are being monitored and any use as described would mean automatic forfeiture of deposit?
Even tweaking the stops might not do the trick. A lot of us grew up with speedometers that could be disconnected on the old man's car.
Yes, the GPS tracker does have historical playback. That's actually how I saw it. I think I would start by just putting a label on the tach saying not to exceed 3100 (which is the continuous output rating).
David Hughes
2009 Leopard 37 Powercat
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OP
OP
David Hughes
Senior Member
Thanks. Found it today. Motors are approved for continuous output at 3110 RPM, out of the Max of 3200. Not much difference.
David Hughes
2009 Leopard 37 Powercat
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OP
OP
David Hughes
Senior Member
Hi, it scares me too, but the boat is with Southwest Florida Yachts, where I was a customer for several years, and who have been in business 32 years. They do a good job. My goal is no more than 12 weeks a year of charter as after the tax loss from my LLC that makes the boat free... And I get to use it as often as I want.
David Hughes
2009 Leopard 37 Powercat
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That scares me more than the WOT. Claiming tax losses on boat chartering is playing with fire, very hot fire. It's a very specifically targeted area by the IRS and has led to trouble for many.
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OP
David Hughes
Senior Member
Yes, and I pay tax on the time I use it, as if I were a customer. And it is common and quite defensible.
David Hughes
2009 Leopard 37 Powercat
OP
OP
David Hughes
Senior Member
psneeld
Guru
Have had some close friends that have had boats through fleet charters...never an issue with the IRS and what they wanted out of the deal.
Now the guys who kept using their boat for business deductions after the 90's...not so lucky....
I haven't had close friends who do it at all. I don't personally know anyone who charters although I've been a charter customer many times and know several people in the charter booking side of things well. We did have chartering suggested to us by those same people but we said "no" without discussing it. So, in actual experience and friends who have done it, you're far ahead of me.
With him doing it within fleet charters, I'm sure they're doing all they can to comply and I'm sure he's been advised by a knowledgeable tax accountant. The fact he is reporting his personal use in the way he is probably does help. Perhaps that is keeping him from having a net taxable loss. It is my understanding that regardless of how it's set up if it never reports a profit, they may...and note I use the word may, not will...attempt to deny the losses. It's a normal section 183 audit. Now, there are those who think that those audits are only done on those reporting schedule C losses and that is the primary target. However, LLC's still may be targeted and questioned.
Again, it sounds like he's gotten sound advice and being careful to comply. This is one of those areas that the exact details are the key so two situations that appear to be the same on the surface, are very different in the details and that's why one passes and the other doesn't.
If it results in free boating, then it sounds good and certainly worth jumping through whatever hoops are required.
psneeld
Guru
It isn't "free boating" from what I understand.....it is "depreciated boating" but the only way some people could or would want to get in at a high level of ownership and be able to afford it piecemeal versus total initial outlay.
My very close friend wound up with a 39 sailing cat in decent shape. Still, he wound up with repowering after he took it over full time and a few other major expenses including a delivery captain to bring it from the islands to the states. Similar to a couple others I know.
Free? Not even close but definitely discounted with the price being only partial use for a great number of those years...but like most people...time shares work out better in the long run because they don't have the time to enjoys "other" places in life at the time except for a limited amount.
My very close friend wound up with a 39 sailing cat in decent shape. Still, he wound up with repowering after he took it over full time and a few other major expenses including a delivery captain to bring it from the islands to the states. Similar to a couple others I know.
Free? Not even close but definitely discounted with the price being only partial use for a great number of those years...but like most people...time shares work out better in the long run because they don't have the time to enjoys "other" places in life at the time except for a limited amount.
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I heard a woman convincing her husband to consider a time share arrangement. Her question was "how much do you think we'll use the boat anyway." His answer was "I'd like to use it all the time." Obviously the follow up question was "but how much will we really". The answer to that was "4 weeks a year, if we're lucky." That brief conversation told them that time share made sense.
High Wire
Guru
How do you know the charterer did not have a favorable current from say, and incoming tide? How much speed difference is there between 3100 and 3200 rpm?
Every charter we did the check ride capt said "do not exceed X rpm", to which we adhered.
Every charter we did the check ride capt said "do not exceed X rpm", to which we adhered.
OP
OP
David Hughes
Senior Member
Indeed, "free" is not the right word. Section 179 Bonus depreciation which was made permanent in 2015 affords a one-time, completely legit depreciation of the full cost of the equipment placed into service up to $500K, and the loss is allowed to reduce "all other sources of taxable income", be it W2 or any other source. For me, the one time tax savings allowed me to put what would otherwise have been tax money into the "kitty" of a charter business LLC instead. I will slowly burn through my kitty as charter revenue isn't enough to cover all costs each year. And I certainly could be audited, as I have been before, but I am not afraid of what the outcome would be. One needs to be careful and do it correctly, but it is indeed legal.
David Hughes
2009 Leopard 37 Powercat
OP
OP
David Hughes
Senior Member
There would be almost no difference between 3100 and 3200, and now that I know 3100 is "Yanmar approved", I am far less concerned than I was yesterday when I didn't know the manufacturer ratings.
David Hughes
2009 Leopard 37 Powercat
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IF full bore is 3200RPM, I would post a sign for 2800RPM as max .
SCOTTEDAVIS
Guru
Let's not bring logic or common sense into this. You could kill the entire thread!
To the OP: I would be pretty pissed off at anyone who did this to my boat.
Two guys were killed in a go-fast boat on the Chesapeake Bay a few years ago when it flipped. Estimates were that it was going 180 MPH. As I recall, they were builders and were testing the boat.
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