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Zib

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Posts posted by Zib

  2. Post A Pic Of Your Mounted Hagen's Or Wire Former

    in Wire Baits

    Posted

    My bender is not currently mounted so I can't post a pic. All I did was drill 2 holes through my computer desk (old desk) that lined up with the holes in the base of the bender & made sure that there was enough room for the bottom handle to make a complete 360 degree turn without hitting the underside of the desk. I only have it bolted down while I'm bending wire then remove it to make room to do other things.

  7. Reusing Jigs?

    in Wire Baits

    Posted

    I melt down the old jigs that I snag while jigging the Detroit River for musky. I use my cast iron pot instead of my Lee pot because I don't want my Lee pot to get clogged with paint, rust etc. I use the side burner on my BBQ grill.

  8. M-f Salt Water Plastic?

    in Soft Plastics

    Posted

    Has anyone had any issues using M-F salt water plastic? I’m new to making soft plastic lures & I plan on making some soft plastics for musky/pike jigging & want soft plastic that is durable & will hold up to teeth the best. Is the M-F Salt Water plastic a good choice or is there better soft plastic out there? I’ve done a search in the forums but can’t seem to find the answer I’m looking for so I apologize if I’m asking a questions that already been answered.

    Thanks

  11. My First Musky on My Own Bucktail

    in The Docks

    Posted

    Thursday night I made up 5 bucktails to use Friday morning on Lake St. Clair. I ended up using 2 of them & caught fish on both , including my first musky (48") of the 2009 season. :yeah:

    I was fishing by myself without a musky net so the pictures suck because I couldn't get the self-timer to work. :(

    IMG_0319.jpg

    IMG_0320.jpg

    IMG_0322.jpg

    IMG_0323.jpg

    Here's the lure that caught it. MY buddy named it "Big Sexy" because he caught his first of the season on the same color & style that another friend made.

    IMG_0327.jpg

    Here's a couple of several LM that were caught on the bucktails as well.

    IMG_0317.jpg

    IMG_0318.jpg

  13. heat gun ?

    in Wire Baits

    Posted

    I have a Chicago Electric that I bought at Harbor Frieght for $16.99. I use it for powder painting & other things around the house & garage. After a year of use it still works fine. If you are using it for powder painting make sure you get one that can stand up by itself so that your hands are free for other things.

  14. Any ideas how I can make one of these?

    in Wire Baits

    Posted · Edited by Zib

    I like the action on that thing.

    About 15 years ago I bought a jig very simular to that one. The only difference was the one I had the lip was narrower & the jig itself was lighter & painted. The one I bought came with a curly tail rigged on it. I don't ever remember using it though. I may still have it in my old tackle box that's burried in my basement. If I remember I'll look for it & post a picture if I find it.

    BTW, have you ever seen a Scrounger Head?

    AMSH.JPG

    • Like 1

  17. Question about taxes

    in Wire Baits

    Posted · Edited by Zib

    I'm not so sure about this...

    You paid the FET on components because you bought "retail" without an exemption.

    If you sell your finished product (components, FET and value added services) as a "wholesale" product to be retailed by someone else then they, the retailer are obligated to collect the FET on the purchase.

    However if you sell as the retailer to the end user/consumer...

    That is where I get confused? Since the components were already sold as retail once and the FET was collected and paid by whom you purchased from: are you then obligated to collect FET on the retail of your finished product as well? Or can you claim that the FET was paid on the retail sale of the products components?

    And I'd imagine if you file for an exemption you had better keep very good records on your inventory. Any discrepancies will be seen as sales without collection of the FET by an audit.

    I'm just getting started on all of this myself. And until I understand all of the ins and outs of this, I'm just going to pay the FET on my components and pass that on as an expense on my wholesale cost.

    I'd retail it myself too but until I have a firm grip on the above scenario I'm going to have to wait.

    The manufacturer is liable for the payment of FET on the sale price of the product. The manufacturer adds 10% to the sales price that he charges the retailer or direct consumer. The 10% is included in the price but the purchaser usually doesn't know that 10% is included the price. They only see $8.99 for a Spro Little John & end up paying sales tax on top of that FET so the product is double taxed.

    Here's a little more of the IRS website:

    Who is Liable for the Federal Excise Tax (FET)?

    IRC 4161 imposes an excise tax on the sale of sport fishing equipment, bows, archery equipment and arrow shafts (exception for certain wooden arrows designed for children effective October 4, 2008). This tax is imposed on the manufacturers (a term which includes producers and importers) of these products. In order to determine the proper taxpayer we must understand how the code defines these terms.

    Manufacturer:

    Regulation Section 48.0-2(a)(4)(i) defines a “manufacturer” to include any person who produces a taxable article from scrap, salvage, or junk material, or from new or raw material, by processing, manipulating, or changing the form of an article or by combining or assembling two or more articles. The term also includes a “producer” and an “importer.”
    Regulation Section 48.0-2(a)(4)(ii) states that under certain circumstances, as where a person manufactures or produces a taxable article for another person who furnishes materials under an agreement whereby the person who furnished the materials retains title thereto and to the finished article, the person for whom the taxable article is manufactured or produced, and not the person who actually manufactures or produces it, will be considered the manufacturer.
    Here's the link for more info:
    http://www.irs.gov/businesses/small/article/0,,id=203117,00.html' rel="external nofollow">
    With regard to sales tax the
    SELLER
    is responsible to pay the tax to the State government. The Seller has the right to collect the sales tax.

  18. Question about taxes

    in Wire Baits

    Posted

    My Question on FET.

    If I pay FET on my components to make the tackle,,, do I have to pay it again on the finished product that I sell to my dealer???? If so sounds like double taxation to me.

    When you pay FET on the parts then you will just adjust it on the form when you send it in. You will still have to pay FET on the selling price.

  20. Question about taxes

    in Wire Baits

    Posted

    I don't know of ANY state that requires a business to pay sales tax on products that are sold & shipped out-of-state. I'm a tax compliance auditor with the State of Michigan & I audit sales tax, use tax, & business tax. There have been some States that have been trying for years to get a "Streamline" Sales tax agreement passed with other states but because 5 States don't have sales tax they can't come to an agreement.

    Also be aware that there is a Federal Excise Tax of 10% on lure manufactures that require you to pay on the selling price.

  23. Boggs or Hagen's Wire Bender???

    in Wire Baits

    Posted

    Hey guys,

    I was planning to buy a Boggs Tackle Marker for a B-Day present to myself. :yes: However, since I plan on making large musky bucktails (10" to 13" total length) I didn't think the Boggs would handle the longer shaft. I seen that Boogs has the extension that you can use with the base cut in half but was wondering if that will still have some limitations? Are there any limitations with regard to the Hagen's making the bigger bucktail spinners? I'll also be making smaller French spinners for bass. Should I buy the Boggs with the extension or should I just get the Hagen's?

    Thanks

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