501(c) Yacht Tax Strategy Consulting

$30-250 USD

Closed

Posted 7 days ago

$30-250 USD

Paid on delivery

I need a seasoned U.S. accountant who can walk me through the exact steps to structure a purchase of a yacht so that the cost is fully deductible under a 501(c) entity, then legally charter that yacht as a business. EX: There is a $800K charter boat for sale at our marina. My best friend has a Children's 501-C. The owner cant sell the oddball brand boat...UNLESS he drops to $400K (Which I Have). Cant the owner donate it to the 501-C and I arrange to pay the 501-C AND $200K cash to the owner? He has NO offers on the boat...He can't sell [login to view URL] wont sell it for $400K unless it a huge tax advantage. I donated an unsellable boat in the 90's and wrote it off at full retail, and IRS agreed with the write off. I think it was spread out over a few years of tax credit? I’m not looking for generic advice—I want a practical, bullet-proof plan based on current U.S. tax code. If you’ve successfully helped clients secure large asset write-offs or have direct experience with maritime or luxury-asset taxation and 501C donations, I’d love to draw on that knowledge. Please outline how you would tackle this, what documentation you’ll need from me, and the estimated timeline to deliver the full strategy memo.

Project ID: 40647388

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4 proposals

Active 7 days ago

Location: United States

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4 freelancers are bidding on average $139 USD for this job

@swatijain5558

With my extensive experience in U.S. tax planning and structuring, I understand the importance of maximizing deductions within the 501(c) framework. I've helped clients navigate complex tax scenarios to achieve substantial savings. Could you provide more details on the specific entity structure of the 501-C involved in this yacht purchase? Regards, CA. Swati Jain, CPA

$60 USD in 4 days

5.0

(17 reviews)

4.5

@JaiRola365

Hi, You’re asking for a 501(c) yacht purchase and charter plan that’s fully deductible under current U.S. tax law, not generic commentary. I read the details about the $800K-to-$400K mismatch and the prior unsellable-asset write-off you referenced. A fit here is Financial Consulting with Asset Management and Wealth Management, because the core work is structuring, documentation, and risk controls around ownership and chartering. In a prior accounting-focused role, I reviewed client documentation packages and built step-by-step memo trails so positions were supportable if questioned. Which state will the yacht be titled and chartered from?

$155 USD in 3 days

0.0

(0 reviews)

0.0

@lindaa161

With 15+ years in maritime & nonprofit tax planning, I've structured numerous six-figure vessel donations under IRC §170 and chartered assets through 501(c)(3) entities. Your scenario is viable but requires precision. My Approach: FMV Appraisal – Obtain certified marine surveyor appraisal (required for deductions >$5,000) Donation Structure – Owner donates vessel to 501(c)(3); deduction limited to charity's actual use (not resale); if charity charters, UBIT applies on charter income Your $400K Payment – Structure as purchase of charity's use rights or as restricted grant, not direct owner payment Charter Operations – Establish for-profit management co. to operate charters; 501(c)(3) leases vessel back to you Documentation Needed: Form 8283, qualified appraisal, 501(c)(3) determination letter, charter agreements, business plan. Timeline: Full strategy memo in 10 business days. Ready to discuss.

$140 USD in 7 days