Hunt'nBiz??? What Happened?

DBLung

Active Member
Messages
458
About 10 years ago these guys came out in a big way. Conning people into buying into their organization so you could write off your taxes from expenditures on hunting and fishing trips. People always love to find new ways to "BEAT THE SYSTEM". And more people riding high could tell their friends they were "PROFESSIONAL HUNTERS" It kind of reminded me about Dr. Seuss book "Sneetch's." Sneetch's would pay a crook to put a star on their belly. As a result other sneetch's would want it. Then when everyone had a star they payed him to take it off. Just to be better. Anyway you see where I'm going with this. Now you don't hear about Hunt'n Biz any more.

Just wondering if they still exist or if someone grew a brain and stopped it?
 
I'm guessing they laughed their assses off all the way to the bank...

horsepoop.gif


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The IRS stays in business from this sort of thing.

The IRS presumes that an activity is carried on for profit if it makes a profit during at least three of the last five tax years. If you are constantly losing money then the IRS will rule you are running a hobby rather than a business. You can only deduct expenses to the extent of income for a hobby.

How many "investors" or "partners" made money from the activity? If virtually none then is like shooting fish in a barrel when the IRS gets the participant list and starts sending out audit letters.
 
>The IRS stays in business from
>this sort of thing.
>
>The IRS presumes that an activity
>is carried on for profit
>if it makes a profit
>during at least three of
>the last five tax years.
>If you are constantly losing
>money then the IRS will
>rule you are running a
>hobby rather than a business.
>You can only deduct expenses
>to the extent of income
>for a hobby.
>
>How many "investors" or "partners" made
>money from the activity? If
>virtually none then is like
>shooting fish in a barrel
>when the IRS gets the
>participant list and starts sending
>out audit letters.

...............and besides, you would have had to be a very gullible bumpkin to have bought into their BS in the first place.

Hell, they didn't even offer a pink Cadillac!


"I could eat a bowl of Alphabet Soup and
sh!t a better argument than that!"
 
I know a few people that did buy into it. What a pyramid scam unless you were at the top of the food chain. They found something people are passionate about and it is a lot easier to convince them when it is a passion.
 

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