Marine & Boating

Charter captains, marinas, boat dealers, and marine service providers along Florida's Nature Coast.

Accounting Built Around Life on the Water

The marine industry runs on seasons, and the books have to account for that. Income arrives in bursts, equipment is expensive and depreciates on its own schedule, and vessels that cross state lines raise questions most firms rarely encounter. We work with charter operators, marinas, dealers, and repair shops throughout the region, so these aren't unfamiliar problems to us.

Deductions and considerations that often apply

Common in this industry, though whether any of them applies depends on your specific situation. Treat this as a starting point for a conversation, not tax advice.

Vessel depreciation

Boats used in a trade or business are depreciable assets, and bonus depreciation or Section 179 may apply in the year of purchase.

Fuel, dockage, and slip fees

Ongoing operating costs tied directly to business use are generally deductible.

Maintenance, haul-outs, and repairs

Routine upkeep is typically deductible, while major improvements are usually capitalized and depreciated.

Licensing and certification

USCG licensing, renewals, and required safety training connected to the business.

Insurance

Hull, liability, and protection and indemnity coverage carried for the business.

Crew wages and contractor payments

Deductible when properly documented, with payroll or 1099 reporting handled correctly.

Sales and use tax on vessels

Florida rules on marine sales, charters, and out-of-state purchases are specific and worth reviewing before a transaction.

Mixed personal and business use

When a vessel serves both purposes, the business portion must be substantiated. Good logs make the difference.

Does this sound like your business?

If you recognized your own operation in any of the above, we'd welcome the chance to talk. A short conversation is usually enough for us to tell you whether there's money being left on the table — and if everything is already in good order, we'll tell you that too.

Let's talk about your business

Schedule a consultation and we'll walk through what applies to you.

Schedule a Consultation