|
|
Member
Posts: 6
| ANYONE HERE IF THE SCHEDULE IS OUT YET FOR 2009 WOULD LIKE TO FISH WITH SHEP HE IS ONE HECK OF A NICE GUY ALSO SHEP DID YOU GET RID OF YOUR TUFFY? ( fished with you at oconto) |
|
| |
|
Member
Posts: 1314
Location: Menasha, WI | I read elsewhere that the League schedule will be released next week. I hope it comes out soon so I can make a decision about whether to fish the League or the Bago tour event. |
|
| |
|
Member
Posts: 1991
| Oh sure he saves his nice side for you;) |
|
| |
|
Member
Posts: 1195
Location: Orland Park, IL | Viking, do em both. Should be fun. |
|
| |
|
Member
Posts: 3899
| I'm retired from Tournaments. Me coming back? Just a rumor. It's all BS.
But something is bound to happen next February when the entry opens up.
Kevin, good to hear from you. I still have the Tuffy 1890. For now. Got a 52 1/2" muskie a week ago! That was fun!
Edited by Shep 11/17/2008 10:01 AM
|
|
| |
|
| This is not a rip on Shep (reely). but how does a person retire from a hobby?
That just seems funny too me. |
|
| |
|
Member
Posts: 3899
| You don't follow the Packers or football, do you?
The IRS doesn't consider it a hobby. Does one have to only fish tournaments for it not to be a hobby? What is a hobby to some, may not be to others. What makes it a hooby in your opinion?
Edited by Shep 11/18/2008 8:09 AM
|
|
| |
|
| o sorry
I did not reelize it was joke. I thought you wear seriuos. I get it now you are the Brett Favre of fishing.
not trying to open that can of worms again about who is Pro and who isnt. I still think that most local tournament guys like you do it as hobby. |
|
| |
|
Member
Posts: 2445
Location: Fremont, Wisconsin | Guest - 11/18/2008 9:03 AM
o sorry
I did not reelize it was joke. I thought you wear seriuos. I get it now you are the Brett Favre of fishing.
not trying to open that can of worms again about who is Pro and who isnt. I still think that most local tournament guys like you do it as hobby.
hahahahahahaahahaha I guess he got you shep(farve), you darn hobbiest. hahahahahaha you know what, well, never mind, you know what he is allready hahahahahahahaha does that farve crack mean that you retired from 1 circuit and now you will show up in another? did not like the management of the old circuit so you pretended to quit, poop on your fans for personal gain, you self centered b@#$^). hahahahahahahahaaha. man its cold today. |
|
| |
|
Member
Posts: 744
| www.stopdrinkingatwork.com |
|
| |
|
Member
Posts: 3899
| hehehe Stacker, you kill me.
To tell the truth, I don't have any idea what I am going to do next year. The only tournament I am planning on fishing is the Fox River Classic with Zach. I may or may not sell the boat and may or may not buy a new boat. If I find a 1973 Z28 for the right price, I might just chuck it all, and do that. Only time will tell. |
|
| |
|
| Personal gain hahahahahahahahaha now thats FUNNY? Who is in first place out east hehehe? Kudos to him if he found a way to do what he loves and by turning down the endorsements! Shep when you find that car make sure it has a hitch! Those big skis are priceless!
|
|
| |
|
Member
Posts: 1656
| 1973 Z28? Don't forget the porkchop sideburns, Shep! |
|
| |
|
| I think it is a hooby when the IRS says it is a hooby. I believe that you have to make a profit at it eventually. It can not be a write off year after year. You have to retire I mean quit if you do not show a profit after 3 years.
|
|
| |
|
| Stacker
Come on - spell his name correctly. |
|
| |
|
Member
Posts: 859
Location: Appleton wi | Sheps connsidering retirement? Your to new in the game you cant retire yet  |
|
| |
|
Member
Posts: 3899
| Guest - 11/19/2008 4:57 AM
I think it is a hooby when the IRS says it is a hooby. I believe that you have to make a profit at it eventually. It can not be a write off year after year. You have to retire I mean quit if you do not show a profit after 3 years.
Not true. You don't have to quit if you don't show a profit after three years. You just can't continue to write off expenses that exceed your income.
You really seem to have a problem with my retirement. You gonna miss me that much? |
|
| |
|
Member
Posts: 617
Location: Oshkosh, Wisconsin | What?!!??! Shep has retired?!? No teary eyed fair well? No talk about how much you'll miss the dock and the fans? Where was the 4 hour "Tribute to Shep" on ESPN? YOU CAN'T PULL THAT ONE ON US SHEP. Do the right thing - tell the media you have a problem with alcohol or pain killers, take a vacation with the family, and then come back and ride the wave of fresh media coverage to a new fat endorsement - hold out for something really cool like a pack of jigs or a few of those new rapala cranks. |
|
| |
|
Member
Posts: 859
Location: Appleton wi | There is alot of misconception about writing off expenses for tournament fishing. There is no IRA fed or state law that gives a time limit on showing profilts for any business but before or after 5 your number maybe called by the IRS and you could get audited then the fun begins so if you wanna drag yourself through that and your family you better make sure you have good record keeping and good explantion! Do Not mention that it is a hobby because you will owe owe owe! One other note my reliable source tells me if your a licensed guide and fish tournys and do aleast one guide trip a year you would be alot safer than not! |
|
| |
|
Member
Posts: 2445
Location: Fremont, Wisconsin | I did spell it write, his family just spells it wrong. no where should the sound of a R come before a V. thats just wrong. They just did not want there kids to be called fav-ray
Edited by stacker 11/19/2008 9:40 AM
|
|
| |
|
| Hey SHEP, Put your money where your mouth is ! FISH THE BIG BOYS CIRCUITS. ON ALL WATERS, WE'LL SEE HOW YOU DO! |
|
| |
|
Member
Posts: 744
| guest - 11/19/2008 12:34 PM
Hey SHEP, Put your money where your mouth is ! FISH THE BIG BOYS CIRCUITS. ON ALL WATERS, WE'LL SEE HOW YOU DO!
Big Boy has a circuit now? I can't keep up....
Attachments
----------------
 bigboy.htm (1KB - 253 downloads)
|
|
| |
|
Member
Posts: 859
Location: Appleton wi | Guest you need to chill out. everyone is having alittle fun here.
Edited by eye Lunker 11/19/2008 1:28 PM
|
|
| |
|
Member
Posts: 32
Location: Darboy, wi | Come on Shep tell us the truth, are you really holding out for the Hooters contract? |
|
| |
|
Member
Posts: 32
Location: Darboy, wi | Hey Eye Lunker, do you know a good tax Man here in the valley that is good at prepairng tournament fishermans taxes? someone that is experienced. |
|
| |
|
Member
Posts: 3899
| I have Hooters. Not sure if I am going to renew for next year. Square D is on board already, whether I fish tourneys or not.
Big Boy? I thought Big Boys were long gone here in WI. There goes that man-crush thing again. |
|
| |
|
| Randy any tax person is qualified. You are basically running a small business and they will combine that with your current employee tax . Most of the information you might wanna read up on are on the state of wisc and federal tax site. I use ASK associates in appleton. |
|
| |
|
| I think BeFishin does taxes. |
|
| |
|
Member
Posts: 580
Location: Green Bay, WI | Yes but...in the case of an audit you have to be a CPA, a tax attorney or an Enrolled Agent to represent someone other than yourself, in front of the IRS.
I am ending my fishing schedule C because I am a good enough business person to know that I can't make a living fishing 
Or in other words, I'm not that good of a fisherman. |
|
| |
|
Member
Posts: 1195
Location: Orland Park, IL | Yer a fine fisherman bob. And yes, CPA, tax attorney or EA is represent in front of the IRS.
There is no hard fast rule, but keep in mind, the window is usually 3 years. Losses for 3 years will trigger a closer looksie. So, have all your ducks in a row. If profitability cannot be demonstrated, you stand the chance of having your C classified as a hobbie. Then the deduction is disallowed, with penalty and interest assigned. |
|
| |
|
Member
Posts: 921
Location: Manitowoc, WI | I'll have to ask my cousin, who is my CPA, but I believe there is an IRS publication that says that you have to show intent to increase your income if you are in a business especially as a sole proprietor. |
|
| |
|
Member
Posts: 1188
Location: Chicago IL. | WOW !!!!!!! I`m glad I dont win money fishing tourneys. HEHEHEHE |
|
| |