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| I got news that there will be links to basement building lures in the news letter.How about a link on the front page of muskiefirst with a list of makers and a little info on what they make and possibly a picture.
What do you guys think of this??? |
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| Good idea.
Ok, ok, I can't stand by any longer! MuskyE, why DID the sucker on the quickstrike rig cross the road?! |
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| I think that's a good idea because I have been asked many times which 'dude' I am that makes lures on muskiefirst because there are quite a few of these weird lurebuilders! LOL!![:bigsmile:] I think it may be a good idea to avoid confusion |
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| How much money does a basement lure builder have to make before he is subject to the 10% federal tax that must be paid on the sale of sporting goods? |
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| Some time in the near future, MuskieFirst will be putting up a LINKS PAGE, at this time links will be created to all of those with sites that would be useful to members.
Slamr |
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| Scratch Noggin,
Once you sell a lure, and/or claim income or duduct any purchace for taxes, you would need to pay your 720 Fedral tax.
If your lure sales are for retail, you need to charge and pay you state salles tax also.
All fun stuff that goes along with the tackle industry
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| Thanks Bill Schwartz, I was planning on building and selling a jerkbait but was told I had to pay taxes. I did not know that it was all sales, even small ones. Where do I go to get that federal 720 form?. I would hate to go to jail because I sold a jerkbait I made in my basement.
Scratch Noggin |
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| Scratch Noggin,
Your best bet would be to talk to your accountant. The fedral exise tax is somthing that you will want to pay, even no matter how much it hurts. They check up on that. |
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| that's why I prefer trading lures and not selling them! |
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