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Fixed Docks versus Floating Docks

By John Simpson, on September 26th, 2009%

For more years than I can count, there has been a marina question I’ve wanted answered.  It’s been asked of me many times and I just didn’t have a full explanation.  The question is why don’t more marina owners switch from fixed docks to floating docks?  So I put on my Sherlock Holmes hat and set . . . → Read More: Fixed Docks versus Floating Docks

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Marina Floating Docks – Real or Personal Property? Part 3 of 3

By John Simpson, on March 23rd, 2009%

So is it worth going ahead and getting floating docks treated as personal property?  There are two financial advantages:  lower personal property tax rates and accelerated depreciation.

Personal Property Tax Rates Lower than Real Property

This is another one of those “it depends” discussions.  In Anne Arundel County Maryland, the real property tax rate is 0.888 per $100 . . . → Read More: Marina Floating Docks – Real or Personal Property? Part 3 of 3

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Marina Floating Docks – Real or Personal Property? Part 2 of 3

By John Simpson, on March 19th, 2009%

Personal Property Tests

The core test for determining if a dock is personal property is definitional.  Here’s an interesting quote that shows how CPAs are to handle the distinction between real and personal property.

In distinguishing between a building’s tangible personal property and structural components, CPAs will find the courts to be a final source of guidance. In . . . → Read More: Marina Floating Docks – Real or Personal Property? Part 2 of 3

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