From the Helm

Strategic Notes for Charter Business Owners.

Profitability Adam Lipinski Profitability Adam Lipinski

The Math of Burnout: Why Your $700 Trip might be Losing Money

Captains are great at reading water, but terrible at reading P&L statements. If you charge $700 for a trip because "that's what the guy down the dock charges," you are letting a stranger dictate your salary.

When you factor in engine depreciation, insurance, and the "Perishable Inventory" of weather cancellations, your actual take-home on a charter might be less than minimum wage. It’s time to stop pricing for occupancy and start pricing for profit.

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Legal & Compliance Adam Lipinski Legal & Compliance Adam Lipinski

Sole Proprietor vs. LLC: Don’t Build Your Business on a "Job" Hull

Most new captains make their first mistake before they even leave the dock: they buy the boat and print cards, but they never form a company.

By default, you are a "Sole Proprietor." In the eyes of the law, there is no difference between your personal savings and your business liability. If a passenger gets injured, you aren't just losing the boat; you could lose your truck, your house, and your personal assets. We break down why the LLC is the only hull shape that handles the heavy seas of liability.

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Legal & Compliance Adam Lipinski Legal & Compliance Adam Lipinski

The Hobby Trap: Why the IRS Targets Charter Captains

You’ve heard the rumor that 80% of businesses fail. That’s a myth. In the charter world, most captains don’t fail—they slowly bleed out.

The IRS has a specific code (Section 183) for businesses that don't consistently show a profit: they call them "Hobbies." If you are flagged, your deductions vanish, and your audit risk skyrockets. Here is the difference between a "Tax Write-off" boat and a legitimate charter business, and how to prove your profit motive to the government.

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