How to make money while sailing full time, sail, sailboat, Bluewater sailing,
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- Опубликовано: 8 сен 2024
- How to make money while sailing full time, sail, sailboat, Bluewater sailing
Episode one • How to make money whil...
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![How much does Boat Life REALLY Cost? CRUISING on a Bluewater SAILBOAT [2 years to 2020]](http://i.ytimg.com/vi/sbt3VpPWLVU/mqdefault.jpg)
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Thanks Chris, you put thoughts in my head I hadn't even contemplated. Now, to rethink my retirement, or possible semi-retirement.
Perfect, and I'm just getting started
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
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!
Harsh reality of boat life: always watch your burn rate
Yeah buddy
Great Video
Thank you, thanks for watching and taking the time to comment
🙂👍🏻👏🏻👏🏻👏🏻
Still NOT getting notifications!☹ Even while on RUclips.....
There is a certain setting in the menu to push occasional settings you have to hit. Or become a patron and on the members area they are always posted
@@ChasingLatitudes Yepper, got the setting activated, looks like I'm signing up for Patreon.
@@nobody46820 😁😁 you da best my man, don't forget stream tonight in 1 hr 45 min incase ya didn't get that notification either, sheesh RUclips is something else
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.
Look up Malta
Depends heavily on to many variables unfortunately 😕 specific to the individual
Yeah a LLC would solve a lot of problem's for me right now. errr
Yes sir lol
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)
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.
A ketch or a cuter are not marginally more expensive, over time they are dramatically more expensive. There are only benefits to registering your vessel under an LLC there is no down side to it. A fractional rig sloop is the most cost effective sail plan for long term cruising and that's why I stated it specifically.
@@ChasingLatitudes I do not disagree that the benefit of being able to write off your boating expenses as business expenses is very nice. I was just pointing out that you might have to face personal liability even with a corporation.
The ketch I currently own is more expensive to operate than the mast head sloop I used to own, but it is also a larger boat. The mast head sloop I used to own was more expensive to operate than the fractional rig I owned before it, but it was also a larger boat. I doubt that the fractional rig sloop is cheaper to operate than a mast head sloop of the same size, and I just thought that it should be included in the list. Operating expense is also only one part of choosing a boat.
@@jeffgriglack9624 100% get what boat works best for you, I was just pointing out a general example is all. Like you said it's just one aspect of many in choosing the correct vessel for yourself or family
Im a good looking girl. Is prostitutuon legal in international waters?
To say someone CANNOT sue you if you have an LLC is a lie. It is better than having a sole proprietorship in your name. But ut is by no memes guaranteed.