You ever sell this boat?
I wish!!
smiles are contagious, spread them around
Proud Member of the ZIPPER Club
& Team Geezer
You ever sell this boat?
The boat is still for sale... still never been used.
Ask me about: Bobby Garland, CrappiePro, Yeti Coolers, Power-Pole, and Simms Products!redfin00 LIKED above post
Does this model have 3 seat across front deck standard?
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Thinking pretty hard.........looking at distance, zip code please
Yes, three seat posts... zip code is 46062.
Ask me about: Bobby Garland, CrappiePro, Yeti Coolers, Power-Pole, and Simms Products!
ttt
Team Overalls Travel Squad
FISH for LIFE
HUMANKIND......be both
Speaking of taxes, will you have to recognize this sale (when it occurs) as income or a gain or how is that treated?
I want to be prepared!
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Without saying to much, you have options when you're a tournament angler... oddly enough, sometimes it's better to consider your tournament fishing as a hobby not a job/company, which quite frankly, it is because it's not a full time job. When you take into account what it cost traveling the country fishing, you're in the red with your hobby even when you win a boat. I'm also a paid outdoor speaker, so I considered making fishing a business for tax reasons, but to my surprise it wasn't going to be beneficial because it was added "income". Now if you'd follow a tournament trail, and don't cash checks, and it's your full time job, you should definitely create a business.
Ask me about: Bobby Garland, CrappiePro, Yeti Coolers, Power-Pole, and Simms Products!Slabprowler LIKED above post
Sorry to hijack the boat post again (but at least it gets bumped again ).....I have linked a decent article that explains business vs. hobby below but coming from a background of accounting and personal taxes in the past, the rule of thumb is you treat all winnings, etc. as income on a return. Same thing as when you go to a casino and say win $10k....you can bet you have to report it. But on the flipside there are instances where you can show your "losses" at casino for the same year and help cancel some of the income out. There are tons of scenerios and always best to speak to a CPA if you aren't sure.
When Does A Hobby Become A Business?