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waynem

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Posts posted by waynem

  2. Be cautious of sellers wanting you to pay via GIFT

    in Black Market

    Posted

    On 4/29/2021 at 11:14 PM, SVT THUNDER said:

    This is now changing rapidly due to the new, low 1099 cap. I rely heavily on feedback now. I’ve bought and sold recently using F&F. Many seasoned sellers are only accepting F&F now. I also do an extensive search of social media history now. Most people aren’t hard to find. If they are, I steer clear. But anything sketchy at all and I’m out. 

    The new $600 cap for 1099 taxes has really changed things.  I wrote the original post in this thread years back when the cap was $20,000.  For those who are not yet aware, once you receive $600 or more in PayPal goods & services you will receive a tax form and will be required to disclose the income on your taxes.  If you have all the documentation as to initial $ receipt, etc you can fill out an additional tax form and only pay taxes on the profit (if any).  But lets say you don't have the documentation for what you originally paid: then you will get taxed on what you sell it for even if you only get what you originally paid or less.  That is why folks are going to move to non-taxed methods such as F&F, money order, local sales, etc.  Just be careful who you deal with.  The vast majority of SU members are great but we have had a few scammers rip people off.

  4. New Bill Signed. New 1099 Rule for everyone selling online.

    in The Underground

    Posted

    Join the club guys.  Massachusetts (where I live) and Vermont have been the only 2 states in the US to have had this $600 limit in effect for a few years.  I've been reluctant to post up surplus baits on the Black Market asking for "friends & family" since I am the one who originally wrote the post that is pinned at the top of the Black Market page about "Be aware of sellers asking for F&F only".  Now we are all in the same boat.  I suspect Venmo won't be any different than PayPal since they are both owned by the same entity.  I think money orders or F&F may be the only way to go but I'm willing to listen to others on here.  I'm not one to flip baits for a profit so it sucks that I have not been able to sell a $100 bait to SU guys for anything close to $100 since I then have to pays income tax on it.  If people are going to go the money order route I may toss some baits up on BM.

    Let's see if there are any other ideas from the SU community.

    "Hi I'm from the government and here to help you."

  5. Ebait Order Timeframe

    in The Underground

    Posted

    If you go on the MS Slammer website you will see a "Buy Direct" tab at the top.  You can do that or call the telephone # listed.  I am assuming eBait takes a pretty good percentage of the selling price.  I would rather have 100% of my money go to the bait maker rather than splitting it between the maker and a distributor.  I get it that you can't do that very well with a big manufacturer like Daiwa, Deps, etc., but for little guys like Mike Shaw I always try to go direct.  Without swimbaits there is no swimbaiting.

  10. Long leaders

    in The Underground

    Posted

    Another thing to keep in mind is the true braid breaking strength.  In general the manufacturers rating is WAY, WAY below the actual (unknotted) break strength.  For instance 10# Power Pro has an unknotted break strength somewhere around 25#, and stuff rated 50# is up around at least 80# of true strength.  I believe the manufacturers do this because there are so few knots that maintain good strength with braid.  The FG is one of the few knots that maintain super knot strength with braid - generally up around 90% if tied right.  Back in my pre-swimbait days I often used 10# braid with a 15 or 17# leader.  If I got snagged and had to break off I can't ever remember the braid breaking first.

  14. Decoy Egg Snap Fail

    in The Underground

    Posted

    I use 4 & 5 Decoys a lot.  However I never switch baits with them.  After I put one on I use a pair of pliers to lightly crimp it lightly so it can't be opened and I've left them on for years that way without issue. I should add I haven't had the PROBLEM of dealing with many DD bass up here in New England. 

    Whenever I get a new bait I always test swim it with both direct tie versus split ring/snap.  Most baits swim better one way or the other.

  21. Dressed trebles

    in The Underground

    Posted

    On 1/19/2021 at 7:30 AM, bigpoppabass said:

    Attached is a pic of my accidental discovery of what the fish wax sticks do to feathers. Looks great on the pause, gives it a fish tail look.  Unfortunately, I trashed all of my sticks out of frustration from all the damage they do to other baits with tails skirts etc.  I didn't think they worked well as scents either.  

    PXL_20210119_122450343.jpg

    Gooping the feathers up like this kills the movement in the water.  As others in this thread have said, marabou has the most movement in water (breathes) but is not durable at all.  Fox hair and hackle feathers have both good movement and are reasonably durable.  Some of the craft hair products  are also pretty good.  Many times I use a combination of hair and feathers.  A cheap vise, bobbin & thread will get you in business.

  24. Split Rings Sizes for Diff baits

    in The Underground

    Posted

    If you are having issues with a pair of treble hooks tangling with each other on the cast, you may be able to solve the problem by changing the hook split rings to a smaller size (smaller diameter) which will keep them further apart from each other.  If you need to maximize this you can go with the Wolverine triple split rings which are super strong for the diameter (which is why a lot of musky guys use them).

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