I would write off the payments too if I were you. The chances of getting audited today are far less than even 5 years ago. There have been huge budget cuts to the IRS in recent years, and the number of audits they are doing is far less. And if you entertain clients on the yacht, then you are entitled to at least write off part of it. Technically, it could even be used for corporate meetings among the partners. The question becomes "can the IRS proove you did not use the yacht for that purpose" to which the answer would be "no".