I set up a spreadsheat to get an idea of what I spend a season on going to regatta's. This is based on next year, the Hobie Mega is way far away.

Total mileage- 8324 miles, at $2.68 (the price today) for a gallon for diesel and getting 15mpg that's $1487.22

Camping for 27 nights, Roughly $15 a night- $405

Meals- 27 days worth at $20 per day - $540

Entrance fees- Figuring $45 for normal events, $400 for a NAC - $895

Not figuring wear and tear/maintenance on my vehicle, or the boat. And assuming I don't break anything, (yeah right), or get a flat tire I'll spend $3,329.90

HOLY CRAP! I should be chasing some sponsorship dollars.

I guess you were going to be eating anyway - unless you have taken to fasting at the weekends. That's $540 you could take off the total.

My record year was 14 regattas (including two week long events) and about 12,000 miles. I never put a pencil to the costs - figuring out I was still better off than if I had taken up motorsport as a hobby.

If you start factoring in things like spinnakers (an annual expense at least if you race and practice a lot) and amortize your main over 3 years it really starts to add up.

Then again there are no pockets in shrouds and I don't regret a cent of it.

Chris.

Just doing the Tybee and GT300 in the same year was about $8000. It would have been (still should be) more but I double stacked with Chris Green for the Tybee and he never told me what the fuel bill was. Anytime you come up with a number Chris, I'll be happy to fork it over. Sponsors helped out alot this year on the GT but without counting new sails, I doubt I could get away with under $3 to $4K a year.
Karl, put your business name on your boat and write some of it off as a business expense (advertisement).

Now whadya go and do that for Karl?

My regatta expense is out of control. At least it's a business expense and I recoup some of it by selling you guys parts. Dragging chase boats and sailboats, parts trailer, gear, etc all over the western U.S. gets pricey. But dang do I meet some great people.

This summer, my runs to Hobie/ Performance were around $700. Now with Diesel back down they're down to around $400. There was a shortage of grease and the local Biofuel station went out of business. Seems that a bunch of hippies found out that you could run old Mercedes 300D's off of straight veg oil and the whole local biofuel thing collapsed So much for my secret stash of $.70 per gallon fuel.

There's a couple of serious road warriors here in Div 3. And, Gordo, Geeze. Homie should buy an oil well. He hits almost every regatta in Div 2 and 3. Does Gordo post here?

J

Yep,
Your right ,ya shouldn't have added it up. When we were doing Worrells, a shoestring team (like mine) would spend between 7-9k, my Tybees seem more in the range of 3k more or less depending on boatwork,sails etc..Some teams spent 30K+ on their Worrells. I try not to get too detailed, it seems to suck the fun out of it. Try offshore fishing or car racing and you'll see how affordable this is.
Todd

It's all relative.

The cost to take a Melges 24 to Key West Race Week is on the order of $10K. That's ONE regatta. Food / lodging for your crew, dockage, crane fees, etc., etc.

Of course, the boat set you back $65K to begin with.

Over the last ten years, I've spent an average of $6K per year on my "habit". That doesn't include parts - like sails.

I'm not going to and you can't make me (add that stuff up).

I usually do 18 to 21 events a year including the Tybee 500, Tradewinds or Steeplechase in the keys (I quit doing both in the same year) and a North American Championship in some fashion. I'm not adding it up.

Use what Big Brother will allow on your vehicle ($0.585/mile) and watch your cost skyrocket. Using this calc, the "great deal" on the trailer I bought last weekend turns in to an $835 expenditure.

It's all relative, this was the trailer I wanted, couldn't find one like it close to home and the wife and the doggy enjoyed the car ride.

We're off to buy a "$408.57" set of used beach wheels this weekend, and the girls are looking forward to another road trip.

I've been thinking about setting up a business as a means of writing off expenses. I don't do nearly as many events as Jake does... and I don't know how you guys get so much time off work to do all the sailing you guys do AND have leftover time to go on family vacations...

I added up my costs for going to ONE regatta and it infuriated me! The wife and I had to add up all our costs and re-align our budget since I just bought a new awesome SUV. Regatta expenses came up as the #1 "unbudgetted expense" when we re-did our budget spreadsheet.

well, there's your first problem... don't ask, don't tell

You can write off the actual cost per mile. It doesn't work out for me as I write off the work related fuel expense seperatly from mileage. If diesel is at $3.75/gallon, my pickup costs $.66 every mile. If you've got a semi inexpensive vehicle and it gets rediculous good mileage like a TDI Jetta, the amount you write off almost pays for the vehicle.

I've thought about buying my next boat with the company checkbook, stickering it up, but eek. I don't break any laws but an audit doesn't sound friendly. Maybe start a non-profit, then I can charge the cabinet shop the going rate for advertising. I wonder what BMO, or Alingy charge per area? That would be a good rate to use.

Why don't you build some nice wooden rudders and daggerboards for your boat? Maybe some sort of wooden thing to mount stuff on? Use it as a demo platform. That way you can write off the whole project. You might need to sell a few blades eventually.

I added up what I spend on horses in a year and I could buy a new I20 every year for the same price..... my wife was not impressed when I suggested this as an alternate way to spend my money....

Start up your own "Boat Charter" company. Travel to regattas to advertise it, but set your price so high that no one actually books any charters. Then write off the whole operation as a business loss, including the cost of the boat.

I suddenly realized that I can deduct the cost of any loan on my 31. It can be treated as a second house...
put a toilet and stove on your cat and add a cushion to sleep on and you might be able to claim it as a second home

You can deduct the interest that way...not really the cost.

The fed has been tightening the tax write off's in the last several years and I suggest that if you do so, you have legitimate and detailed records on why the trip was a business expense (who, what, and why). It needs to be semi-believable because they will expect the detailed records and something to believe in should you get audited. Also, you can only show a business loss for three continuous years. Bonnie works too hard and I've never been able to show a loss though I do record some regatta trips as business trips but only when I can show that we donated the t-shirt design, made a product toward the regatta (shirts, awards), or legitimately had a purpose to discuss business with someone in the area.

right... thats what I meant. its something at least! couldn't you also deduct the insurance?

I think only if you owe more than 80% of the value of the asset and are legally required to have mortgage insurance. I think that's the only insurance you can take a deduction on....but I could be wrong.

Yes Matt, it is all Relative.

This year, one North Americans (H-17), six Div. 4 Regattas's, and three sailing outings. All campouts, except the NA's.

Three with Son Tom, seven with Grandson Dan.
PRICELESS !

Caleb H-17 6446
Tom H-17 6185
Dan, Wave, H-16, crew on Tiger and H-16

This is still by far the cheapest racing I've done. I've never had the budget for a M24 campaign, but when I raced motocross on quads I'd break something expensive every weekend. Plus a $15k machine was ready for its next life as a soup can at the end of each season. I'm so glad I never got into roadracing. I did a few track days, but I just couldn't swing road racing financially. Even on track days I'd take a brand new set of tires, (at about $200 a piece for DOT race compounds), and they'd be junk at the end of the day.


I don't think I'm complaining, just surprised.