I’m looking at a boat to buy and it comes with a King Mackerel Permit. I am curious if I should hold the boat or permit in a corporation> How taxes would work etc, Also do you use any software program for expenses. What percentages to you put away for direct operating costs. Anything I need to know before I learn it the hard way… pm me if your willing to talk about these issues…Thanks
Own the boat and do everything through an LLC, assuming your state laws are favorable in that regard. Everyone my way does it that way. No advice with taxes etc but expect to get hit with some “self employed penalty” nonsense.