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Showing content with the highest reputation on 03/29/2018 in all areas

  1. First, let me say, in descending order, the 3 things I am most afraid of and therefore strive always to stay on the good side of are; 1) My Wife 2) The IRS 3] Electricity Jig Detail & Question I spent several years working on a jig, for a specific purpose, on a specific lake and had multiple guides and tournament folks work with it, helping me “tune” it along the way. Finally convinced it is marketable in that geographic area I have committed to getting the jigs on tackle store shelves very soon. A deal was reached with a domestic manufacturer who will produce, package and direct ship the jigs to stores. I have gotten the graphics, packaging cards, and UPC labels taken care of. The manufacturer is paying the excise tax (and providing me documentation of same) built into the price I’m paying. They are making 5K of these jigs (the minimum) and 3,500 are pre-sold, so I think we are on the right road. With respect the jigs and excise taxes it my understanding that I only need file an annual return that documents the payment of the taxes by the manufacturer. Q1) Do you have any different understanding or experience in that regard? Plastic Bait Detail I also plan to self-manufacture a small amount of soft plastic baits and test market them in the same stores, under a different brand name. I understand that I will need to pay and file all excise taxes on these products. I am currently at a crossroads regarding a decision to make the plastic company a separate LLC, strictly to avoid any confusion over the excise taxes between the jig brand and the plastics brand. I could leave everything in one company, with separate brands, or have each brand stand alone as an LLC. Income taxes are not a troubling issue as everything will be consolidated on a single personal return. We have no annual fees for LLC’s in my State and I’m proficient at the process. I don’t know if the plastics brand will be a success, as I have not done the R&D that I did with the jig. This argues for the simplicity of a stand alone company for plastics. If it fails, a notice of dissolution to the State and final returns to taxing authorities shuts it down. Q2) Do you have any experience or thoughts on this? Your assistance and thoughts are most welcome and appreciated. Respectfully, M. Knight
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  2. hi welcome. do you use a rtv mold? sounds like a mold box not secure. foams create expansion. if its not held back it will warp castings. .make sure your vent holes are sufficient also.
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  4. Does it blow out on the same side every time? If it does, it could be as simple as some fine tuning of the line tie.
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  5. Hard to tell since they are in the package, but a lot of those type of jigs are tied using chenille which gives the body a nice segmented look. http://www.feather-craft.com/danville-chenille-size-medium I tie a lot of crappie and bluegill flys with medium and small chenille. Check out the "Bully Bug" ...the worlds best bluegill (crappie, perch, etc!) fly!!! It's a chenille body. http://www.flyfishohio.com/Bullys_Spider.htm If you don't fly fish you can tie it on a small round head jig and it's killer!!!! Andy
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