A podcast designed to educate yacht sellers and yacht buyers, and to share what is happening in the yacht brokerage market. Produced by Current Yachts.
A podcast designed to educate yacht sellers and yacht buyers, and to share what is happening in the yacht brokerage market. Produced by Current Yachts.
In this episode, Patrick Wehrly, CEO and founder of the Wehrly Group, discusses the intricacies of maritime tax planning and yacht ownership. The conversation covers common myths about yacht tax benefits, the importance of proper financial planning, and strategies for maximizing tax efficiency. Patrick shares insights into the challenges and opportunities in the yachting industry, emphasizing the need for accurate information and professional guidance.
Key Takeaways:
🔎 Yacht ownership requires careful financial planning and understanding of tax implications.
🚫 Many myths exist about yacht tax benefits, often leading to misinformation.
📚 Patrick Wehrly emphasizes the importance of professional guidance in maritime tax planning.
📉 Bonus depreciation offers significant tax advantages for yacht owners.
📄 Proper documentation and business planning are crucial for tax efficiency.
🛥️ Yacht ownership can be a lifestyle investment rather than a financial one.
🏠 Understanding the difference between depreciation of yachts and real estate is essential.
🔻 Exit strategies should be considered from the beginning of yacht ownership.
🤝 Collaboration with financial advisors and brokers is key to successful yacht ownership.
⚓️ The yachting industry offers both challenges and opportunities for investors.
Contacts: The Wehrly Group: https://thewehrlygroup.com/ Learn more about buying a yacht in charter: https://currentyachts.com/buy/buy-a-y...
Contact Current Yachts: https://currentyachts.com/contact
💭 ABOUT CURRENT YACHTS
Current Yachts revolutionizes yacht sales by offering a transparent, service-based pricing model that puts the consumer first. How?
1️⃣ We replace traditional high commissions in yacht brokerage with flat-rate selling expenses, and the buyer-side commission (co-brokerage) only gets paid when a co-broker is present -- saving our sellers money.
2️⃣ We are a full service yacht brokerage company with licensed and bonded professional brokers assisting yacht sellers and buyers every step of the way.
3️⃣ Current Yachts is also the first yacht brokerage company to offer a buyer representation agreement.
Discover the Current Yachts difference: professional service without the bloated pricing.
Join us at https://currentyachts.com/