bob_G

Canal comm season. Still a no go?

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443 posts in this topic

2 mins ago, z-man said:

You have to pay income tax

i'm aware. i fished commercially for 8 years. i paid quarterly taxes. but the point of bring home 750 a week catching bass was questioned. no he isn't paying taxes on that money at that time. he's either paying april 15 or four times throughout the year. 

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Comm. fishermen are independent contractors and also considered to be self employed, therefor responsible to keep their own books for income and expense...…………….

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11 mins ago, b-ware said:

Comm. fishermen are independent contractors and also considered to be self employed, therefor responsible to keep their own books for income and expense...…………….

and we do so what's your point?

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26 mins ago, bradW said:

i'm aware. i fished commercially for 8 years. i paid quarterly taxes. but the point of bring home 750 a week catching bass was questioned. no he isn't paying taxes on that money at that time. he's either paying april 15 or four times throughout the year. 

Someone asked if the $750 was before or after taxes. Is he taking into account that he had to pay taxes on that income or not? Is he keeping $750 or is it actually $500 after taxes? Big difference. 
Why do you commercial guys get so worked up when someone asks a question about your job?

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8 mins ago, z-man said:

Someone asked if the $750 was before or after taxes. Is he taking into account that he had to pay taxes on that income or not? Is he keeping $750 or is it actually $500 after taxes? Big difference. 
Why do you commercial guys get so worked up when someone asks a question about your job?

I'm not getting worked up. I'm simply saying that as a former commercial fisherman, when i would make 1000 bucks in a week, i wasn't walking around thinking, well i really only made 750 this week. No. I put my money in the bank and when it came time to pay my quarterly taxes, i paid them. 

 

There are plenty of people in plenty of occupations that do the same thing. just like there are plenty of people who don't claim all their income by dealing in cash sales. it happens. is it legal, no but it happens. landscapers, cleaning people, all sorts of construction and small repair jobs. 

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56 mins ago, robc22 said:

and we do so what's your point?

Just stating the fact that comm. are the same as self employed carpenters, mechanics, shop owners ect., that's my point...……………..

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2 hours ago, bradW said:

I'm not getting worked up. I'm simply saying that as a former commercial fisherman, when i would make 1000 bucks in a week, i wasn't walking around thinking, well i really only made 750 this week. No. I put my money in the bank and when it came time to pay my quarterly taxes, i paid them. 

 

There are plenty of people in plenty of occupations that do the same thing. just like there are plenty of people who don't claim all their income by dealing in cash sales. it happens. is it legal, no but it happens. landscapers, cleaning people, all sorts of construction and small repair jobs. 

go eat a snickers bar dude. I pay quarterly taxes also, april,june,september an december.Have been since 1995 my friend.

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11 mins ago, gray gables said:

go eat a snickers bar dude. I pay quarterly taxes also, april,june,september an december.Have been since 1995 my friend.

:th: 

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Although this year I think even quarterlies have been pushed back to 7-15-2020, at least for the first one. 

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4 mins ago, bdowning said:

Although this year I think even quarterlies have been pushed back to 7-15-2020, at least for the first one. 

nope, mine was taken out of my account when my stimulus money was deposited.

 

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57 mins ago, bdowning said:

Although this year I think even quarterlies have been pushed back to 7-15-2020, at least for the first one. 

 

In response to the COVID crisis...... for both Federal and MA:

 

July 15 for the first and second quarterly estimates,

September 15 for the third quarterly estimate.

January 15, 2021 for the fourth quarterly estimate.

 

 

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1 hour ago, l.i.fish.in.vt said:

so zman whats your weekly income ? do you claim all the money you make,what kind of decuctions do you take?are your panties all bunched up?

Yes to all of them. I’m not even the one that asked if the $750 was before or after taxes. I just find it comical that whenever anyone questions commercial fishing the commercial fishing guys get all riled up and feel they have to defend their jobs. 

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