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Author Topic: retiring  (Read 1830 times)

Steve M Smith

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Re: retiring
« Reply #10 on: April 29, 2014, 04:43:12 pm »

I love the playing, but the driving sure sux!

I would hate that too.  Luckily, I live on an island which is only 26 miles wide - half an hour at most to get home from gigs!


Steve.
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Steve.Oldridge

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Re: retiring
« Reply #11 on: April 29, 2014, 04:48:49 pm »

I would hate that too.  Luckily, I live on an island which is only 26 miles wide - half an hour at most to get home from gigs!


Steve.

wow.. must be nice!!  The closest regular gig to my house is 38 miles.. the furthest is 82.
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Bob Leonard

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Re: retiring
« Reply #12 on: April 29, 2014, 05:21:30 pm »

The time is coming for me faster than I want it to. 62 and the schedule is down to twice per month, and invitational gigs at that. Even that's a joke now because I figured out I'll need to supplement my income until I'm about 127 if I want to live my current life style until I go tits up.
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David Parker

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Re: retiring
« Reply #13 on: April 29, 2014, 05:40:32 pm »

wow.. must be nice!!  The closest regular gig to my house is 38 miles.. the furthest is 82.
my closest was 25, farthest was about 50
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Brian Charbobs

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Re: retiring
« Reply #14 on: April 29, 2014, 08:16:19 pm »

my closest was 25, farthest was about 50

After reading what you fulltime Sound Folks put up with I am so glad I did not do this as a job, only a hobby.
 I am having a blast doing my hobby at my leisure, no pressure, well not totally true, but I can tell them to stick it at any time, I have a whole new appreciation for what you guys pull off, that is for sure. It can be very stressful when things do not goes as planned, and you have every one breathing down your neck to fix it, and fix it now. I have been there, it is not a fun moment, but you do what you can do.
Have a great retirement and enjoy life!!
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Alex Rigodanzo

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Re: retiring
« Reply #15 on: April 29, 2014, 09:26:53 pm »

Because it's on your depreciation schedule and you have to list every year the equipment that you have depreciated and if you've sold it, report the income.

If you've retired, you no longer have any business income to claim, you no longer have to file income from business, just your personal tax.  At least that's how I wrapped up my DJ biz in the 90's. And then sold off all the gear after that.

Sole proprietor, dba, lost money every year for 5 years and then closed the "doors".
« Last Edit: April 29, 2014, 09:30:53 pm by Alex Rigodanzo »
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Richard Turner

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Re: retiring
« Reply #16 on: April 29, 2014, 09:52:26 pm »

Some folks do things legit. some do the

I retired and all the inventory fell off a truck into the landfill and here the tippage fee receipt kind of thing.

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duane massey

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Re: retiring
« Reply #17 on: April 30, 2014, 01:18:03 am »

I "retired" from doing live sound 20 years ago, but I am still in the business, both as an installer/programmer/cabinet-builder/service/whatever and as a performer. Today I drove 220 miles, spent 5 hrs with a client in Louisiana cleaning up some stuff and tweaking the EQ settings on some wireless mics, as well as planning some changes/adds in the next few weeks, then turned around and drove back.
I will be 63 in 30 days. Unless I hit the lottery real retirement is not in my future. Good luck with yours, David, when it's time to step away it's time to step away.
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Duane Massey
Technician, musician, stubborn old guy
Houston, Texas

Steve M Smith

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Re: retiring
« Reply #18 on: April 30, 2014, 01:47:08 am »

Some folks do things legit. some do the

I retired and all the inventory fell off a truck into the landfill and here the tippage fee receipt kind of thing.

What happens as far as tax is concerned, if you just give it all away?


Steve.
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David Parker

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Re: retiring
« Reply #19 on: April 30, 2014, 08:14:33 am »

What happens as far as tax is concerned, if you just give it all away?


Steve.
If you have depreciated it fully, then in theory it has no value. If you sell it, all that money is profit. If you give it away, well, the IRS might be interested in who you gave it to and other details.
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