Commercial Tyers

[Donald Nicolson]

You can see one of Seege's flies on [url=http://www.dtnicolson.dial.pipex.com/page31.html:b57a2]http://www.dtnicolson.dial.pipex.com/page31.html[/url:b57a2]

alongside my not very good flymph.
I do hope that was the crappiest of the bunch that Roy sent back to me.

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Donald/Scotland




[This message has been edited by Donald Nicolson (edited 10 June 2005).]

[2 Bead Pupa]

A little more food for thought ( and I'm really hopeing Al will respond ). What about tax write-offs ? Can a professonal tyer write-off his fishing trips and tying tools ? Also , how much can someone earn without having to report the income on his taxes ?

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Life is like a fly swap...You never know what your going to get.

[check your fly]

What about barter with shops? You know, here is a dozen flies for $10 in merchandise. Are you (or them) subject to taxes?

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Chuck Hitt

[LWilliams]

I think $400 is the cut-off for reporting income. All of your tying income would be SE income and subject to the full 15% SE tax.

Yes, bartering counts as income and is taxable.

[Al Beatty]

Hi 2 Bead Pupa,

You asked the following questions:

1."What about tax write-offs ? Can a professonal tyer write-off his fishing trips and tying tools ?" Yes, a professional tier (or even part time tier)can write off fishing trips, meals for travel, mileage or a lease vehile like we do, fishing equipment, and tying tools, etc. You really need to get with an accountant to learn about the the tax angles. Let me give you one regarding Federal Excise Tax -- if you tie a fly with the idea it will be fished then the tax is due but if the fly is tied and mounted under glass it is considered art work and is not taxed. If you are a part time tier you can write off mileage but it requires keeping a mileage log. Even though I don't have to keep a mileage log, I do. It sure helped me during an IRS audit several years ago. For those of you who are guides client tips are taxable and a "red flag" item for the IRS. I was audited in that regard when I was guiding in Montana. By the way we passed both audits with flying colors.

2." Also , how much can someone earn without having to report the income on his taxes ?" I think that question was already answered.

3. One of you asked about quality of materials, I think it was Seege. Always use the best meterials available (if tying for $). Your time is the costly item in relation to the few cents spent on materials on a per fly basis. Take care & ...

Tight Lines - Al Beatty [url=http://www.btsflyfishing.com:48f61]www.btsflyfishing.com[/url:48f61]

[Jokey]

For the record....I WOULD pay 48 bucks for a dozen flies tied by Jesus.

J

[gordo7]

This is an incredibly GOOD thread on the subject, perhaps even worthy of a "sticky". A LOT of good points are posted here...pay heed.

As an seasoned member of the fraternity, I have cultivated my market to the end that my few (53) customers pay MY price for my product.....NO Quibiling.....no bargaining. It results in a limited market, but I now have time and means to allow me to go fishing. When I "ground out" flies contractually, I had no time and little energy to enjoy life, let alone going fishing. The days of $5.00 - $8.00 per dozen ties are not my favorite memories.

In short, if you are beginning this mode of enterprise, make it a lifelong comitment, choose your customers as they present themselves, and make your customer happy. Custom Fly Tying is a two way street.

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Just another "Happy Hooker".




[This message has been edited by gordo7 (edited 11 June 2005).]

[ducksterman]

Welcome gordo7,

FYI to edit just click on the little tablet icon with the pencil above your post.

There I just did it to correct my spelling of your name....

[This message has been edited by ducksterman (edited 11 June 2005).]

[ducksterman]

I don't think I've ever seen flies for fishing for sale for $8 each....obviously I not frequenting the right places.

Don't get me wrong, more power to you, if that's what the market will bear....it's called capitalism and I'm all for it....our lives are awfully good because of it and FREEDOM.

[Salmonfly]

I have tied fishable realistic flies and display flies for years and if a person provides the proper customer service etc they can do well. Certainly no one will get rich tying Royal Coachman ( my favourite fly to this day ) but specializing in different areas can bring some rewards. I offset my patterns with providing materials, instructional CDs and writing articles for different magazines. As a whole picture it is one that can bring fantastic rewards although not all are in a monetary form. There were several lean years I must admit. But the ability to plan my future and limit the bosses I have to head to only one ( the wife ) may let me live longer. But I do it for the love of the game. Without that ... it would nor could ever work out.

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* Offering Fishermen Realistic Options *

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