Anyone that is either a guide or has had some success in tournaments use an accountant to help out with the tax man? Looking to find someone to use with a reference or two in the West Orlando / Orlando area.
thanks
Anyone that is either a guide or has had some success in tournaments use an accountant to help out with the tax man? Looking to find someone to use with a reference or two in the West Orlando / Orlando area.
thanks
I have a tax lady that does all of mine for me. I write off everything you can think of! Tourney fees, hotels, miles, food, tackle, boat payments, percentages of my house, internet, and electric bill, insurance, and more. She does a good job and I haven’t had to pay in since I started using her. Even paid her to go back a few years and take care of some bad crap I had with the IRS (from trying to do it myself) I have sent 3 people her way and all 3 have been pleased. PM me and I’ll send her contact info.
Only downfall is is she is in Springfield MO. I package everything and mail it to her.
PS. I lived in Springfield for 2 years and her husband and I worked together and I’ve been using her since. 6 years now.
what can you write off fishing related?Originally Posted by atta
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I think you can also write off the fuel and fuel tax on your boat. For the few times I got a 1099, I just sucked it up and took the small hit, didn't want to poke the bear so to speak.
I’ve claimed as stated above just not as extensive as electric bills lol. As long as you can prove your doing it to help make a living they’ll accept the claims.
I don't know what it's like down there, but here there has to be a reasonable expectation of profit.
If you repeatedly claim a loss to help pay for your recreational fishing, while never claiming a net gain, the tax man will eventually come for you.
I was always worried about that.
If I wrote off all my losses I would be a millionaire.
Last edited by 250bassFL; 07-29-2019 at 12:14 PM.
Lots of changes in the tax laws concerning hobby income and expenses, if you don't have a business plan and revenue streams besides T winnings, I think you'll have problems going forward.
you are correct. I have fishing income from tournaments, rod, reel, & tackle sales, marketing, etc.
if your just going to write off a bunch of stuff to save yourself money then your going to get in trouble sooner or later. Has to be done correctly and within the tax regulations. Personal business taxes have changed drastically and you don't get the write off that you use to but there is still plenty out there to take advantage of.
I recently obtained my captains license and will be starting an LLC shortly so I can legally guide and that will supplement any tourney entry fees and lead to earnings of some magnitude. I’ll still have a full time job outside of that, but I’ve spent near a grand in captains license, physicals, FWC certifications, etc. Clearly that isn’t money spent on just a hobby!!
Nobody has any small business tax accountants to refer in Florida?
Can you please PM me her information?
You know in Florida you don’t need a captains license to guide for bass on Florida lakes. You only need a captains license if you plan to guide on waters that Is navigable by let’s say cargo ships / tidal waters or waters that is commercial St. John’s river would be an example of a waterway you do need a captains license for guiding. But if you guide on Harris chain for example you do not need a captains license. Sure , does it sounds good to have one ? Yes it does, but it’s not needed. I commend you on achieving that challenge. It’s not a very easy test. I know , I’ve taken it.
Last edited by TheBassmaster; 08-02-2019 at 11:48 PM.
I'm pretty sure the need for a captains license depends on where your guiding. Any water the falls under Coast Guard regs as navigable water needs a captain license. Might also get you better rates on your commercial insurance.
In Florida you only need a captains license for fishing in tidal waters such as the ocean or places such as the St. John’s river. Places like Toho chain and Harris chain you do not need a captains license.
I heard this but I couldn’t find anywhere in writing. Even consulted a few FWC officers and local guides that all recommended I get it. Would be interested to know your source of this information.
I used to guide down in the Sarasota area tarpon fishing. I have a captains license, when I first was going through the process of getting my license I had asked a question about taking people out on freshwater trips. What I told you was the answer I had got. Below is some language on the topic that I have that was taken from the FWC some time ago.
To be a legal freshwater fishing guide, you don’t need any specific state guide licenses. No Charter Captain License or Charter Boat License from the FWC. Moreover, you onlyneed a USCG captain’s license if you fish in ‘navigable waters’, meaning waterways with (commercial) traffic. This includes, for example, the St. Johns River and its lakes. If you fish in non-navigable freshwaters, you do not need a USCG Merchant Mariner Credential in the Sunshine State.
However, you do need to have your boat registered at the Florida Department of Highway Safety and Motor Vehicles. To see how to do that, see the section about Boat Registration above.
When it comes to fishing licenses, you as a guide just need to purchase your own annual, 5-year, or lifetime Freshwater Fishing License. In addition, each of your customers needs to purchase their own license and take it with them on the trip.
Read this...................https://fishingbooker.com/blog/how-t...de-in-florida/
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