So here I am at Lake Worth Anchorage

ssobol said:

But most executives that have large yachts probably have clever tax accountants that manage to claim that the "boss" is working while on board and the boat is just another business expense (office space, entertaining clients, business meetings, etc.) and are able to write a lot of it off. The two weeks cruising with the family is the only part he actually has to pay for (and maybe not even that).

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I am sure some are but I think you'd be shocked how rare that is today. They know that this is an area carefully reviewed and a pet peeve of IRS agents. They also know that if questionable practices on yachts are shown then a lot of other detail to be reexamined. The entertainment deductions are way down over what you saw 30 years ago. Not to get into all the details and complications but the rules have changed dramatically including those for allocating expenses.

Examination of all travel and entertainment is a very strong focus of audits and of programs to push returns for review. Then when you toss in private planes or boats, only gets worse. I know someone in South Florida who was sold a bill of goods on tax accounting by a yacht broker. His accountant refused to agree to it. He fired his accountant, found one who would, took the deduction, got audited, lost and substantial penalties. Initially IRS said "attempt to defraud" rather than just claiming erroneous deduction but settled for just normal underpayment penalties and interest.

The other area to be careful is what charter brokers try to sell on setting up charter businesses. It often takes several years for those to backfire but then they go back and look at prior years. They also do that on the entertainment and business deductions discussed above. So, the real risk is you get audited, you lose the deduction going years back and pay the penalties which are quite high for the old years.

And, for the record, we do some work on our boats, we attend meetings by web cam sometimes, and many of our guests are employees, and we don't take a tax deduction at all. We could take some if we chose, but the reality is it's for pleasure and the business aspect is for our convenience. We have no space that is solely business and to split out the communications would be a major task for a little savings.

A bit off topic, but can anyone tell me what and where are the tender docks in Lake Worth? Can I just putt up to Rybovich, tie up and hop into a Lyft? Lol

We are currently at the PB yacht club, but plan on anchoring next time through.

Woodland Hills said:

A bit off topic, but can anyone tell me what and where are the tender docks in Lake Worth? Can I just putt up to Rybovich, tie up and hop into a Lyft? Lol

We are currently at the PB yacht club, but plan on anchoring next time through.

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I know Palm Beach City Dock and I believe Riviera Beach City Dock.

Woodland Hills said:

A bit off topic, but can anyone tell me what and where are the tender docks in Lake Worth? Can I just putt up to Rybovich, tie up and hop into a Lyft? Lol

We are currently at the PB yacht club, but plan on anchoring next time through.

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The anchorage is at the north end of the lake. Most people putt up to the little bridge and tie off, thence a block or so to the Publix. I suppose you could wangle tie up at Old Port Cove (nice place) marina, and go from there as well; call'em and find out.

A lot of boats anchor off Peanut Island near the inlet, mostly day trippers; I never could find a spot there that was attractive or accessible with our Hatteras 56MY. And you WILL get waked.

motion30 said:

I am currently anchored in key West harbor. Sailboats out number me maybe. 20 to 1 here

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Most if tge board you see anchored in Key West Harbor are liveaboard boats. Housing in the Keys is outrageously expensive. Liveaboard boats are the only affordable alternative!

I like the idea of having the power to get off the water fast and to safety if need be.

We've cruised the ICW over a dozen times into Maine/Bay of Fundy three times, all the Canadian Canals, and the loop. We anchor out most of the time, going into marinas when we need to get water, replenish the larder, or visit the local sights; we need fuel about every 1200 miles or so. Once in awhile we're stuck in a marina in an area at a time of day when there are no anchorages readily available. Our cruising/trawler friends are of the same mind. We're set up to anchor. Based on experience, those trawlers or fast trawlers or other power boaters who prefer marinas do so because they're not set up to anchor out and need their electricity to cook and run AC, hot showers every night, restaurants, etc, and most importantly, more fuel. Sail boaters are generally more self-sufficient than power boaters, so that enters into the mix, also. Admittedly, I've tossed out a lot of generalities here!

Poor people buy sailboats and head for warmer points south. :lol:

We agree 100%

hmason said:

We travel 1,700 miles from CT to FL and then the same distance back each year. The trip can take 3 to 5 weeks depending on where we decide to stop to visit friends and family or sight see. We anchor virtually all the time.

Why? It's easier than docking, tying up, and plugging in. It gives us privacy, it provides beautiful scenery, it's fun to explore in the dinghy, we can fire up the BBQ, and in the morning when we want to leave at first light we simply pull the hook and we're off. Oh yeah, it saves some money too. YMMV

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We have a 46 Grand Banks that we have cruised in full time pretty much since 1992. We totally agree with the advantages of anchoring when possible. We would spend months at a time anchored in the Southern Caribbean, Out islands of Venezuela and Colombia.

The funny thing about sail vs trawlers is we ALL leave and arrive on the same weather windows. Sailors don't want to get beat up any more than trawlers do.
Also, ask any truthful sailor and they "motorsail" more than 50% of the time. Full disclosure: we were sailors full time livaaboards and offshore sailors for 10 years before buying our Grand Banks.

I have towed a number of boats to safety over the years with my own boat, most being snailbots. BUT was that because they were more prone to failures, more prone to unprepared owners, or because there are so many more of them out there?

Good question. Lots of the old school sailors had no engine at all. I wonder if you ever towed a sailboat with no engine. I doubt it.

Yup, they had no engine alright - none that worked.

Ok have to pitch in here as a new motor boater (Bayliner 4788) and prior Sailboater (Hylas 49'). When I had the sailboat we traversed large distances, crossed the atlantic twice and up and down the East Coast offshore twice. We were at anchor most of the time in places that accommodated that (Southern Spain, Caribbean, Greek Islands, Turkey) and used marinas when they were the best option (everywhere else). We covered 20k NM of which approx 1/3 were motoring or motorsailing. We enjoyed all those that we met and did not judge those that got they be the means of propulsion they used. ~ Alan Alan & Joan's adventures sailing Moonstruck from America to the Mediterranean. Joan Teed's Art.

My parents had a 41' Morgan sailboat they used for cruising Florida and the Bahamas. Sailing seemed like a great idea but in reality they rarely actually sailed. Mostly motoring and they lamented the fact that the cabin space was down in the dark. In retrospect they said they should have bought a trawler. I suspect a lot of the cruising sailboats you see would tell you the same thing if pride didn't get in the way.

You might be surprised. The Morgan O/I is a commodious vessel but not a great sailing boat. To each their own, but it you want to travel and I mean travel, you are likely to be sailing not motoring. We were able to visit the following countries that we could not have afforded to motor to on a suitably equipped motor boat: FL to the Caribbean (most islands), Bahamas, Bermuda, Portugal, Spain, Gibraltar, France, Italy, Corsica, Sardinia, Sicily, Malta, Croatia, Greece, Turkey, Morocco, Canaries, Azores, St Lucia and back to FL. In all that time we motored when we had to and sailed when we could. As mentioned earlier the ratio was approximately 2/3 sailing and 1/3 motoring. Of course all ocean crossings were sailing as we did not carry sufficient fuel for both generator and engine for 4 weeks. I agree with you that a lot of folks use sailing boats in such a way for inland or coastal sailing that they would have been happier in a motor boat - unless they got caught in a bad storm or squall.

Overserved66 said:

My parents had a 41' Morgan sailboat they used for cruising Florida and the Bahamas. Sailing seemed like a great idea but in reality they rarely actually sailed. Mostly motoring and they lamented the fact that the cabin space was down in the dark. In retrospect they said they should have bought a trawler. I suspect a lot of the cruising sailboats you see would tell you the same thing if pride didn't get in the way.

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We had a Catalina 42 for many years and took it to the Bahamas twice on long cruises. I admit, although I have been a sailor for many, many years, we motored a lot, on both trips, and even weekend trips.

When we were preparing to go on our third Bahamas cruise, in 2017, my wife anounced that she was over sailing and wanted to motor there the next time. I had no problem with that, and here we are!