Personally if you don't fish or guide for a living and have your boat wrapped, I think it's idiotic but that's me. Tax write off or not........

Personally if you don't fish or guide for a living and have your boat wrapped, I think it's idiotic but that's me. Tax write off or not........

This is a situation I've been looking at a while for my start up tree business, I'm leaning real hard towards starting a second business and making that one an LLC. It will own some of my toys and my tree business too. I'd like to wrap my boat and truck to advertise for both. I figure if you had a vehicle wrapped the IRS would be more likely to buy into writing off the boat

I wrapped my last boat on two different occasions and fixing to wrap this one. (DIY)
No sponsors or names I just like a color change every once in a while. Besides it keeps my competition guessing.

Wasn't trying to be overly judgmental but I think most color schemes by the boat mfg's are beautiful and most of the wraps I see are not.

Dan - Pat Schlapper is sponsored by scheels- you should know this…😆

Yes because I’m sure the IRS will agree you need a bass boat to cut down trees.
This was exactly what my CPA was alluding to. If you’re ur write offs do no match your business they will disallow it.
I’m sure you could write off the cost of the wrap itself as advertising on a one to me basis but not as a yearly write off unless you put the a new wrap yearly.
It writing off the cost or expense of the boat will not fly if you are audited.

My CPA explained it this way.
I can write anything off and as long as the IRS never checks it out I will be ok. But everything I write off concerning a hobby like fishing and hunting will eventually throw up a red flag. Then every write off you have taken will be scrutinized. Even the ones you have taken in your real business. And they will find things and fighting it will cost you
Thousands.
Moral of his story was Don’t f…k with the IRS.

This is a situation I've been looking at a while for my start up tree business, I'm leaning real hard towards starting a second business and making that one an LLC. It will own some of my toys and my tree business too. I'd like to wrap my boat and truck to advertise for both. I figure if you had a vehicle wrapped the IRS would be more likely to buy into writing off the boat

It’s a red flag with the IRS. You basically need to treat it like an arms length type deal and not do anything differently that what a business your size and in your industry would typically do. I remember reading about a couple that bought a boat and charged back their company a fee to take clients out on a regular basis. They ended up in a lot of trouble.

Brilliant you can use your boat to cut down trees at Bois D'Arc, just make sure you are on the nite shift.

Do wraps even have the advertising impact they had just 5 years ago? I might be alone but I rarely pay any attention to a wrapped boat any more.they are so common and so many of the wraps are so busy that nothing really stands out on them either.