Internal Revenue Service
Yacht donations, marine charities help children in need.
It’s always the right season to give to those in need, but the end of the fiscal year correlates with a generosity spike - to make one more contribution for a last-minute, itemized tax deduction.However, most boat owners don’t donate their vessels out of altruism, it’s to stop the bleeding of incessant maintenance costs and expensive repairs for an aged boat that’s hard to sell. The write-off for income taxes is actually a bonus. Donating a boat or yacht is a legal process governed…
Volvo Penta Debuts New Diesel Engine and IPS
Ever since the global financial meltdown of 2008 briefly crippled the world leisure boat market, Volvo Penta adopted a strategy to increase its commercial market share with its family of innovative propulsion systems and controls. Last week off the west coast of Sweden, Maritime Reporter & Engineering News got up close and personal with the new D8 diesel and IPS15 pod, as well as the full range of command and control products courtesy of a day of test drives at Krossholmen, Volvo Penta’s Global Marine Testing Center.