Boat U.S. - March 2009 - (Page 21) Don’t Forget Your Boat Deductions — They Really Add Up At least two deductions of interest to boat owners remain in place for the 2008 tax year: mortgage interest deductions and state sales tax deductions. If you bought a boat last year, on your federal return you may want to consider taking the state sales tax deduction, instead of the state income tax deduction. You must choose one; you can’t deduct both. Also, you can only take that deduction if the tax rate applied to the boat is the same as the state’s general sales tax. (In order to use this deduction, tax returns must be itemized. On Schedule A, state sales taxes go on Line 5b. Many boaters will also benefit from deducting interest paid on boat loans but only if the loan is secured and the boat meets the definition of a “second home,” meaning it has a galley, a head, and sleeping berth.Even if your vessel qualifies, you may or may not receive a Form 1098 from your lending institution reporting interest paid.Not receiving the form doesn’t preclude taking the deduction. On Schedule A, you enter the amount on Line 10 if you received a 1098, or enter the amount on Line 11 if not and include the lender’s tax ID number or SSN. For more details on state tax deductions, go to irs.gov and download Publication 600. For mortgage deductions, download Publication 936, or Fact Sheets. As always, review your tax situation with a qualified t a x p r e p a r e r. — E.D. BoatU.S. Magazine March 2009 http://www.airdock.com http://www.airdock.com http://www.irs.gov
Table of Contents Feed for the Digital Edition of Boat U.S. - March 2009 Boat U.S. - March 2009 Contents Reader Forum Boat U.S. Reports What’s New In The Brew? The Perfect Paint Job Launch Into Spring Boats Gear Wheels One Mom, Two Teens, No Exit So, Nigel Had This Idea Ice Devices It Was A Club Of Their Own Expanding The Boating Universe Tech Connection A Case Study In Getting Results Let’s All Do This Together Classifieds Member Benefits/At Your Service Boat U.S. - March 2009 Boat U.S. - March 2009 - (Page Intro) Boat U.S. - March 2009 - Boat U.S. - March 2009 (Page Cover1) Boat U.S. - March 2009 - Boat U.S. - March 2009 (Page Cover2) Boat U.S. - March 2009 - Contents (Page 1) Boat U.S. - March 2009 - Contents (Page 2) Boat U.S. - March 2009 - Contents (Page 3) Boat U.S. - March 2009 - Reader Forum (Page 4) Boat U.S. - March 2009 - Reader Forum (Page 5) Boat U.S. - March 2009 - Reader Forum (Page 6) Boat U.S. - March 2009 - Reader Forum (Page 7) Boat U.S. - March 2009 - Reader Forum (Page 8) Boat U.S. - March 2009 - Reader Forum (Page 9) Boat U.S. - March 2009 - Reader Forum (Page 10) Boat U.S. - March 2009 - Reader Forum (Page 11) Boat U.S. - March 2009 - Boat U.S. Reports (Page 12) Boat U.S. - March 2009 - Boat U.S. Reports (Page 13) Boat U.S. - March 2009 - Boat U.S. Reports (Page 14) Boat U.S. - March 2009 - Boat U.S. Reports (Page 15) Boat U.S. - March 2009 - Boat U.S. Reports (Page 16) Boat U.S. - March 2009 - Boat U.S. Reports (Page 17) Boat U.S. - March 2009 - Boat U.S. Reports (Page 18) Boat U.S. - March 2009 - Boat U.S. Reports (Page 19) Boat U.S. - March 2009 - Boat U.S. Reports (Page 20) Boat U.S. - March 2009 - Boat U.S. Reports (Page 21) Boat U.S. - March 2009 - Boat U.S. Reports (Page 22) Boat U.S. - March 2009 - Boat U.S. Reports (Page 23) Boat U.S. - March 2009 - Boat U.S. Reports (Page 24) Boat U.S. - March 2009 - Boat U.S. Reports (Page 25) Boat U.S. - March 2009 - Boat U.S. Reports (Page 26) Boat U.S. - March 2009 - Boat U.S. Reports (Page 27) Boat U.S. - March 2009 - What’s New In The Brew? (Page 28) Boat U.S. - March 2009 - What’s New In The Brew? (Page 29) Boat U.S. - March 2009 - What’s New In The Brew? (Page 30) Boat U.S. - March 2009 - What’s New In The Brew? (Page 31) Boat U.S. - March 2009 - The Perfect Paint Job (Page 32) Boat U.S. - March 2009 - The Perfect Paint Job (Page 33) Boat U.S. - March 2009 - The Perfect Paint Job (Page 34) Boat U.S. - March 2009 - The Perfect Paint Job (Page 35) Boat U.S. - March 2009 - The Perfect Paint Job (Page 36) Boat U.S. - March 2009 - The Perfect Paint Job (Page 37) Boat U.S. - March 2009 - Launch Into Spring (Page 38) Boat U.S. - March 2009 - Launch Into Spring (Page 39) Boat U.S. - March 2009 - Launch Into Spring (Page 40) Boat U.S. - March 2009 - Launch Into Spring (Page 41) Boat U.S. - March 2009 - Launch Into Spring (Page 42) Boat U.S. - March 2009 - Launch Into Spring (Page 43) Boat U.S. - March 2009 - Boats Gear Wheels (Page 44) Boat U.S. - March 2009 - Boats Gear Wheels (Page 45) Boat U.S. - March 2009 - Boats Gear Wheels (Page 46) Boat U.S. - March 2009 - Boats Gear Wheels (Page 47) Boat U.S. - March 2009 - Boats Gear Wheels (Page 48) Boat U.S. - March 2009 - Boats Gear Wheels (Page 49) Boat U.S. - March 2009 - Boats Gear Wheels (Page 50) Boat U.S. - March 2009 - Boats Gear Wheels (Page 51) Boat U.S. - March 2009 - One Mom, Two Teens, No Exit (Page 52) Boat U.S. - March 2009 - One Mom, Two Teens, No Exit (Page 53) Boat U.S. - March 2009 - One Mom, Two Teens, No Exit (Page 54) Boat U.S. - March 2009 - One Mom, Two Teens, No Exit (Page 55) Boat U.S. - March 2009 - One Mom, Two Teens, No Exit (Page 56) Boat U.S. - March 2009 - One Mom, Two Teens, No Exit (Page 57) Boat U.S. - March 2009 - So, Nigel Had This Idea (Page 58) Boat U.S. - March 2009 - So, Nigel Had This Idea (Page 59) Boat U.S. - March 2009 - So, Nigel Had This Idea (Page 60) Boat U.S. - March 2009 - So, Nigel Had This Idea (Page 61) Boat U.S. - March 2009 - Ice Devices (Page 62) Boat U.S. - March 2009 - Ice Devices (Page 63) Boat U.S. - March 2009 - Ice Devices (Page 64) Boat U.S. - March 2009 - Ice Devices (Page 65) Boat U.S. - March 2009 - It Was A Club Of Their Own (Page 66) Boat U.S. - March 2009 - It Was A Club Of Their Own (Page 67) Boat U.S. - March 2009 - It Was A Club Of Their Own (Page 68) Boat U.S. - March 2009 - It Was A Club Of Their Own (Page 69) Boat U.S. - March 2009 - It Was A Club Of Their Own (Page 70) Boat U.S. - March 2009 - It Was A Club Of Their Own (Page 71) Boat U.S. - March 2009 - Expanding The Boating Universe (Page 72) Boat U.S. - March 2009 - Expanding The Boating Universe (Page 73) Boat U.S. - March 2009 - Tech Connection (Page 74) Boat U.S. - March 2009 - Tech Connection (Page 75) Boat U.S. - March 2009 - Tech Connection (Page 76) Boat U.S. - March 2009 - Tech Connection (Page 77) Boat U.S. - March 2009 - A Case Study In Getting Results (Page 78) Boat U.S. - March 2009 - A Case Study In Getting Results (Page 79) Boat U.S. - March 2009 - A Case Study In Getting Results (Page 80) Boat U.S. - March 2009 - A Case Study In Getting Results (Page 81) Boat U.S. - March 2009 - Let’s All Do This Together (Page 82) Boat U.S. - March 2009 - Let’s All Do This Together (Page 83) Boat U.S. - March 2009 - Let’s All Do This Together (Page 84) Boat U.S. - March 2009 - Let’s All Do This Together (Page 85) Boat U.S. - March 2009 - Classifieds (Page 86) Boat U.S. - March 2009 - Classifieds (Page 87) Boat U.S. - March 2009 - Classifieds (Page 88) Boat U.S. - March 2009 - Classifieds (Page 89) Boat U.S. - March 2009 - Classifieds (Page 90) Boat U.S. - March 2009 - Classifieds (Page 91) Boat U.S. - March 2009 - Member Benefits/At Your Service (Page 92) Boat U.S. - March 2009 - Member Benefits/At Your Service (Page 93) Boat U.S. - March 2009 - Member Benefits/At Your Service (Page 94) Boat U.S. - March 2009 - Member Benefits/At Your Service (Page 95) Boat U.S. - March 2009 - Member Benefits/At Your Service (Page Cover4)
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