But, as Critter#2 pointed out, if "we" means that someone else is involved, the whole picture changes. If "we" includes anyone other than your spouse, your business is a partnership. In that case the boat would have to be owned by the business.
If the business is a corporation (C corp or S corp), or an LLC that has elected to be treated as a C corp or S corp for tax purposes, then the boat has to be owned by the business.
If you and your spouse are the only owners of the business, things get a little more complicated, and you may have some choices. It depends on whether or not the business is an LLC, and on what state you live in. If this is your situation, post more details.
