How to make money while sailing full time, sail, sailboat, Bluewater sailing,
How to make money while sailing full time, sail, sailboat, Bluewater sailing
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atoll logiciel
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I thought this was a great video. Not because I really want to work on a boat. Easier to just do a 13 week travel nurse contract and chill 9 months a year on the boat when weather is good. But taking on a passenger for the 8.5 months I'm on the boat sharing the expenses suddenly making the boat one big write-off. That really changes things both supplementing cruising costs and the write-offs.
I hadn't considered this. THANK YOU
Thanks man, I guess I inspired you to make this. Could you expand on boat registration (Flag) i noticed a lot of commercial boats are registered in Malta… hurricane season strategy, and other things that might be important,. Thanks a lot, peace Mr. Cousteau
Thank you again!
Can youi suggest a registration flag to make things easier? I will buy a boat from Greece and I would like to have your opinion.
Great Video
EIN stands for EmployER Identification Number, not Employee Identification Number. You already have an employee id number in the form of a social security number. Also, it can be surprisingly easy to for a lawyer to pierce the corporate veil, especially when you are the only shareholder and officer of the company. I'm not saying a corporation isn't worth it, but it's not magic.
Also, a ketch or cutter are only marginally more expensive to maintain (and easier to operate because the individual sails are smaller), and a mast head sloop should be the same to operate as a fractional rig sloop. I'm really not sure why you specified a fractional rig sloop.
For Canadians, use your name and you don't need a LLC and up here corporations don't offer much protection if you own all of it. So my example "Dimion Contracting" and I'm good to go (mind you my tax law is rusty, been a few years).
Business license is similar, usually $100-200. Then as a business, with business license, insurance is a must as well.. or they own your house (we have people up here who are life time "legal" con artists).
Taxes, if the boat is using by your business should be eligible for depreciation.. but do double check (you can also deduct x% of your residence for it too ^^ but they will make you declare how much you use it for business).
Yeah, up here the LLC will not protect you personally, especially if it is easily proved you are the major shareholder (common misconception up here that corporations protect you). And yeah insurance is good 👍
(Not trying to take away or critique just posting a Canadian perspective for the Canucks in here.. laws are way different sadly)
Thanks Chris, you put thoughts in my head I hadn't even contemplated. Now, to rethink my retirement, or possible semi-retirement.
Yeah a LLC would solve a lot of problem's for me right now. errr
Hey Chris. So we should set up the
LLC in the Country that the boat is registered in? Does that work if you're, lets say, Canadian? Sorry -23C outside, brain's frozen… Oh and thx for this series… great stuff!
🙂👍🏻👏🏻👏🏻👏🏻
Still NOT getting notifications!☹ Even while on YouTube…..
Harsh reality of boat life: always watch your burn rate