shrapnel Posted April 22, 2018 Share Posted April 22, 2018 Average weights are up quite a bit this year, not a single fish under 4 getting a check today. It will be interesting to see what the weather change tomorrow brings. Link to comment Share on other sites More sharing options...
Seth Posted April 23, 2018 Share Posted April 23, 2018 We've always split tournament winnings 50/50, but those are just cash prizes so not taxes to worry about. If one were to win a boat or a large amount such as in the BBB, wouldn't you have to figure up how much taxes are going to come out of the earnings and then split that 50/50? Otherwise, whoever gets the check would also get a 1099 and get a lot less money after taxes are taken out. With a federal tax rate of 24% and 4% on state taxes, you'd be splitting 70% of the winnings instead of the full amount, right? Link to comment Share on other sites More sharing options...
DChance Posted April 23, 2018 Share Posted April 23, 2018 1 hour ago, Seth said: We've always split tournament winnings 50/50, but those are just cash prizes so not taxes to worry about. If one were to win a boat or a large amount such as in the BBB, wouldn't you have to figure up how much taxes are going to come out of the earnings and then split that 50/50? Otherwise, whoever gets the check would also get a 1099 and get a lot less money after taxes are taken out. With a federal tax rate of 24% and 4% on state taxes, you'd be splitting 70% of the winnings instead of the full amount, right? When I won 2nd overall back in 07. I won $16,600 and split with my partner. I got the 1099 but then I sent a 1099 to him so the taxes evened out. Link to comment Share on other sites More sharing options...
Seth Posted April 23, 2018 Share Posted April 23, 2018 5 minutes ago, DChance said: When I won 2nd overall back in 07. I won $16,600 and split with my partner. I got the 1099 but then I sent a 1099 to him so the taxes evened out. So did AiA handle the split or did you just make two copies and then each put down half of the amount? Link to comment Share on other sites More sharing options...
Blazerman Posted April 23, 2018 Author Share Posted April 23, 2018 Heard On 4/21/2018 at 9:03 PM, shrapnel said: Average weights are up quite a bit this year, not a single fish under 4 getting a check today. It will be interesting to see what the weather change tomorrow brings. So if i heard this right, the guy that won first place slept in Sunday morning and was not even sure he was going to head out because of the weather. Then he decides to go at 10:30 and was using a spinner bait “up the river” and caught the winning fish. Amazing. Link to comment Share on other sites More sharing options...
DChance Posted April 23, 2018 Share Posted April 23, 2018 10 minutes ago, Seth said: So did AiA handle the split or did you just make two copies and then each put down half of the amount? No, I got the big check and the 1099 from AiA. Gave him half (that was hard...lol) Then I just had to issue him a 1099 for his half. Just like any employer would do for an employee. My tax lady helped us through the whole deal. She was the first person I called. Really wasn't too big of a deal. simple process if I remember correctly. I jsut had to be sure to do that or I would have been the one to get hosed on the taxes Seth 1 Link to comment Share on other sites More sharing options...
DChance Posted April 23, 2018 Share Posted April 23, 2018 10 minutes ago, Blazerman said: Heard So if i heard this right, the guy that won first place slept in Sunday morning and was not even sure he was going to head out because of the weather. Then he decides to go at 10:30 and was using a spinner bait “up the river” and caught the winning fish. Amazing. from what I heard, it was the only fish he caught all weekend Blazerman 1 Link to comment Share on other sites More sharing options...
Blazerman Posted April 23, 2018 Author Share Posted April 23, 2018 14 minutes ago, DChance said: from what I heard, it was the only fish he caught all weekend Yeah just saw that on the AIA Facebook page. Only fish he caught all weekend it said. 8 miles up the Niangua. Link to comment Share on other sites More sharing options...
shrapnel Posted April 23, 2018 Share Posted April 23, 2018 Congrats to John for the big win, seemed like it couldn't have happened to a better person. Also, pretty sure he was fishing by himself so no worries on how he's going to split it...unless he's married! I can't believe how tough fishing is right now on LOZ. Pre spawn, water upper 50's and I failed to put together a limit of keepers either day. We weighed 3 fish for the weekend, 1 to hit the 3lb mark and 2 to hit the 4lb mark. No damage done here. I think we only caught 16 fish total combined both days. Link to comment Share on other sites More sharing options...
Gavin Posted April 23, 2018 Share Posted April 23, 2018 Mitch took the 10 spot overall with a 6.98. Looked brutal out there yesterday. snagged in outlet 3 1 Link to comment Share on other sites More sharing options...
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