Peterson 1/4 Ton to save?

[Canracer]

Nice write up. I was self employed for a couple years. I found a good CPA and I followed his advice. Saved every receipt and kept them well organize.

The scenario above is about donating a boat to charity and then taking a deduction based on the value of that donation. I think that you're talking about deducting some part of a boat that is used for business.

 

[Petros]

either way, you have to have taxable income to be able for any deduction to be of any benefit. And as posted above, if it was worth $3000, and you are in a 36 percent bracket, it might save you $1080 in extra taxes. that is if no one ever challenges the value of the donation.

 

[Canracer]

The fact that taxable income must be earned before a deduction can be taken, was never in doubt. That is just some kind of confusion that was born from within the chain of comments.

 

[Canracer]

The fact that taxable income must be earned before a deduction can be taken, was never in doubt. That is just some kind of confusion that was born from within the chain of comments.

 

[woudaboy]

Looks like boat recently passed through e-bay, if same. Answers the question, worth $621

http://www.ebay.com/itm/1974-Peters...item20e4a99f08&item=141275275016&pt=Sailboats

 

[Canracer]

Wow, absolute diamond in the rough. A buyer would be insane not to jump at this deal. Here in South Florida, a pressure washer is 25 bucks for 1/2 day.

PS. Spend whatever it takes (small potatoes) to get the beast surveyed by a pro.

 

[Canracer]

Worth $621.

Lets talk taxes, and boat donation.

If an owner donates a boat and gets $3,500 deduction, then what is the value of that deduction?

My take is that the owner has his taxable income reduced by $3,500 (or some lesser fraction of that amount.) If his tax rate is 20% then that boat owner just put $700 in his pocket.

Judging from those pictures, that IOR boat is easily worth $1000 all day long. If the previous owner really did love this boat (like he said was the case) then it may have many strong points that the pictures didn't show.

$1,500 might be a fantastic price for this boat, more than double what the owner could recover by making a tax deductible donation.

A schmidge less than my prediction, but just about exactly what I calculated.

I see a strong boat that had a dedicated PO.

 

[inturdor]

1974 peterson 25' 1/4 ton

It Now Lives In Lake Oroville Ca,

 

[inturdor]

Petersen 25 design #14?, built in USA, From Facebook 2021 "Probably the first of Doug's designs to go into production. First as the Petersen 25, then as the Poseidon Yachts 25 (after some re-capitalization of the company). The tooling eventually went through a few more hands before finally being cut up by Teel Brothers Boatworks when they closed. So there are fully finished production racer/cruisers, fully finished flush deck racers, and various kit boats out there from this tooling."

Kelly US Peterson 25 1976, ex "Wild Hair Jr"?!;
Mint Milk BUL 1 Peterson 25/ Odessos 25 ?;
River Horse Peterson Quarter Ton, Design #14, From Facebook 2021 "Probably the first of Doug's designs to go into production. First as the Petersen 25, then as the Poseidon Yachts 25 (after some re-capitalization of the company). The tooling eventually went through a few more hands before finally being cut up by Teel Brothers Boatworks when they closed. So there are fully finished production racer/cruisers, fully finished flush deck racers, and various kit boats out there from this tooling. It looks like Diane Beeston was hired for a shoot, either by the builder or by a magazine that was doing a story on the boat. So we have more than 30 images from that shoot.";

Tight Squeeze US Peterson 25 1973, info and pictures from Dutch QT Facebook 2021: From in San Franciso long ago. Thanks for sharing Craig Ryan Montague

 

[inturdor]

 

[inturdor]

 

[inturdor]

 

[inturdor]

 

[inturdor]

 

[inturdor]