Are you sure ? You're saying gifts and tips aren't "taxable" ? Because even restaurant waiters tips ARE INDEED taxable , right ? And any source of "income" (no matter if you call it a "tip" or a "gift") are taxable, aren't they ?
Because if not, then pray tell: What's to stop me from giving my employees "gifts" all year long, so-as-to-avoid payroll taxes ?
But I think this is all a moot point anyhow. Because ... most certainly .... Scuba has dutifully listed this as income on his income taxes. Right scuba ?
Dude...maybe a fine mesh metal wastebasket like they sell at BedBathandBedamned? they are about the size of a 5gal bucket and have a pretty tight mesh that should capture an earring, and of course every stick and weed and shell too......
Then just start grading across the bottom with it? ..It will be a muddy ZERO vis mess, but hey you are used to that....If the reward is enough and you know right about where it is in a 10'x10' area, that might be the simplest and easiest way to go...?
Get two, so after one fills up, you can stay down and fill the other before you have to come topside to sift through the finds...
Oh BTW, thanks for finding my Watch! I was dinking around with my Props...checking the cotter pins etc..Besides the Bentley, My other car is a BMW!.
Where in the world did you get TIPS in my post? ....
Up to 6 inches , this will do the job.
Ok, forget the word "tips". I was just throwing that out there as another word to go along-side "gifts". It's just semantics. Whether someone calls it a "tip" or a "gift", the point remains :
There is no risk to scuba , whether it be via the IRS or thieves, that he references the gift or tips he receives for his adventures.
Technically, any source of income (no matter what a person calls it, Ie.: "gifts", "tips", etc...) is taxable. But we ALL know that , realistically speaking, such incomes are only done through employee/employer relationship . Beyond that ... the guy that finds a $10 bill on the street, or receives a $100 gift for finding someone's ring, is NOT going to bother listing such petty income.
No, you are absolutely wrong. Gifts below $10k/year (actually its a bit more as they raised it) are not considered to be income and are not federally taxable. I thought this was common knowledge. Play all your typical word games, conjure up all your hypothetical scenarios that tangentially fit the narrative, and ladle on the paragraphs after paragraphs all you want Tom but it wont change the Federal Tax Code. Ask your accountant.
And just so you know I'm not asking you to do anything I wouldn't do myself, I confirmed this with my CPA.
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.... Ask your accountant....
Ok. I have the question out now, to a local md'r in my area who is an accountant. Will report back to the forum when he gives his answer. And I've made sure to ask him to link it to any supporting rules/laws.
Ie.: A difference between "tip" versus "gift" versus pre-arranged cost of services ? A difference of $100 vs $1000 versus $10,000 ? etc.... Will report back when he answers.
Not that this will change any of our practices I suppose.
Bought it to mess around in the shallow along with a hand held Rts Ss 5 inch, i dont dive.
Ok. I have the question out now, to a local md'r in my area who is an accountant. Will report back to the forum when he gives his answer....
While I like the scuba tector it will not find an earring at any depth, I made a video a while back air testing various items and a big ole diamond earring (With the back on as well, I'm assuming the lost one doesn't have the back)
In actual real world use I have found coins, rings and a chain, anything smaller, no
(0:43 for the earring)
So you run a business in Socal and don't have an accountant? ....
K-in-TN, my business is in central coast CA (Monterey bay area). And yes, I have an accountant But for purposes of this question, I posed it to a local md'r who is an accountant by trade. He just got back to me and said that *technically*, yes, tips we get (whether you call them "tips" or "gifts") are taxable.
But as to whether or not anyone actually enforces it, is a different matter. Ie.: The IRS doesn't monitor forums like this , to see who's getting side-income.
If you have a google link to the contrary, let us know.
K-in-TN, my business is in central coast CA (Monterey bay area). And yes, I have an accountant But for purposes of this question, I posed it to a local md'r who is an accountant by trade. He just got back to me and said that *technically*, yes, tips we get (whether you call them "tips" or "gifts") are taxable.
But as to whether or not anyone actually enforces it, is a different matter. Ie.: The IRS doesn't monitor forums like this , to see who's getting side-income.
If you have a google link to the contrary, let us know.
Once again, you avoided the topic of discussion. I once again invite you to reread my post and see that the word TIP does not appear.
The subject is GIFTS, Tom. The IRS is VERY clear on the differences. They don't care the profession, just the classification of the income type.
Try again.
(and if you think tips are a technicality, you need to talk to some restaurant owners. and never use the guy that thinks that for anything. that's the most clueless thing I have ever heard re the IRS)
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