While reconstructing expense records, a taxpayer states he wants to write off the cost of his fishing boat because he occasionally entertains clients on it$.$ The taxpayer is an accountant. The tax preparer should:

Explain to the client that the cost of the fishing boat is not an ordinary or necessary expense for an accountant. Occasionally entertaining clients on the boat does not rise to the level of a lawful expense deduction, and therefore the boat is not considered a deductible business asset.

Calculate the business$-$use percentage and allow that portion of the cost of the fishing boat as an "Other expense" on Schedule C$.$

Advise that this is a business$-$use asset and as such must be depreciated.

Advise that this is a business$-$use asset and will be deducted in its entirety using the special depreciation allowance.