TV show about Florida Treasurehunters/divers

[old man]

A self-styled Florida treasure hunter is positive he knows where there's buried silver; the state isn't buying it | Tampa Bay Times

ECS, I applaud Bigdog for his attempts to follow his dreams. However, I think he needs a touch of reality. He seeks fame, nothing wrong with that. If he thinks reality tv shows won't portray treasure hunters in a bad light, I think he should think again. They are trying to sell a show for entertainment. Not to make someone famous. You only have to look at Todd, honey boo boo and Grubby to see what they want on these shows.Bigdog is also wrong about the IRS. Find a treasure and you owe them money on income. It's not owed when you sell it. It's owed the next tax season.I really hope he makes the cut for tv. I'd like to see the first show.

 

[Dell Winders]

If you find valuable treasure and don't claim ownership you can be charged with illegal possession. Once ownership is declared the IRS can, at their discretion , immediately demand the payment of taxes according to your own declared value of the Treasure. If it is then sold for over your declared value you have to pay the difference. If it is sold for less than your declared value, you can then apply for a tax refund.

In the past, sub-contractors for Mel Fisher, were faced with a dilemma when the shared division of ownership was filed with the State via computer two months before an actual division. One Salvor I know had a difficult time raising the money in advance (they only accept cash) to pay the immediate demand for Federal taxes in accordance to Fishers declared value, even though the Salvor didn't have any Treasure, and didn't receive actual physical possession of his share of the Treasure until two months later at the annual meeting.

Usually, the easiest option for the poor man is to take enough Treasure to the bank for collateral and get a loan to pay the IRS, then let the bank keep the collateral and you will have to accept a substantial loss. If you are wealthy enough to need a business tax write off, another option is to donate the Treasure to a Museum, such as Mel Fishers museum. Dell

 

[Au_Dreamers]

A self-styled Florida treasure hunter is positive he knows where there's buried silver; the state isn't buying it | Tampa Bay Times

"He's called twice," said Daniel McClarnon, an archaeologist in Tallahassee who works on DOT projects. "We don't really have any treasure permits. There's not such a thing."

Also, he said, "there's not any indication there's buried silver there. It's been fully surveyed. I can't imagine the massive project of putting in this interstate didn't find what he thinks is down there."

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But still: Digging near the bridge could damage the foundations. It could disturb a nearby Indian burial ground. It could disturb other archaeological and historical artifacts.

I don't think both these statements can exist together and be true...

 

[Bigdogdad]

Just curious. Can any of you tell me EXACTLY where you got your facts on taxes on treasure? Please post your source. old man-So your comparing my persona to a fat, spoiled little girl, a goober with a stupid looking beard that can't talk without using the work "frickin" and a guy named "Grubby". Who the heck is "Grubby"? Why are you so sure they will portray me in a bad light? Is this just your negative way of looking at things?

ECS-Only you and other jealous wannabe's think that newspaper article makes me look bad. Thanks for sharing. AU-Dreamers-I straightened out the FDOT officials on those ridiculous points. The only one they stuck with was that by allowing me to dig (I asked for FDOT supervision and had multiple archaeologists lined up) they would be encouraging other people to want to do the same. I pointed out that by not allowing someone seeking permission and wanting to do it right they were in their own way encouraging "pirates" to steal it when no one was looking. No reply to this.

Finding treasure would certainly bring up issues to contend with. So would winning the lottery. So what!

 

[Reed Lukens]

At least you went to them and gave them the chance like you should have bigdogdad. Old Wally Koz did that also when he found a treasure ship off of the south coast, the state wouldn't give him permission either, then there's the wreck off of California's North coast, same thing. When you ask them they either want it all and they will pay you minimum wage to dig it for them, or they say no when you refuse to do it for a pittance. Then when you refuse to tell them exactly where it is, your house gets raided for being a drug lab and they haul you off in chains only to question you about where exactly this treasure is... Then if you don't tell them after the threats of ruining your life, they put you away for making drugs and throw away the key. That was Wally's story anyway Get a backhoe, some guys in orange suits and hard hats, make it look official. Place cones like any highway contractor and then dig it up!

 

[Bigdogdad]

No thanks, I don't need it that bad. Sorry about Wally. As far as the pirate site goes, I was told that the safest thing to do for any of the possible treasure was to leave it in the ground. I was also told that they would not know what to do with it if it were found. I really didn't care if I got any of it. Our government "at work". Go figure.

Still waiting for the source of the tax info.

 

[Salvor6]

You don't have to pay taxes on treasure until its sold............period!

 

[old man]

You don't have to pay taxes on treasure until its sold............period!

According to the IRS:

IRS Rule 53-61-1953 C.B.17 The Finder of Treasure - Trove is in receipt of Taxable income, to the extent of its value in United States currency, for the taxable year in which it is reduced to undisputed "POSSESSION."

Cesarini vs. United States 428 F 2d 812 6th Cir. 1970

The IRS states that when it is in your "POSSESSION" not when it is sold.

I hope that answers your question Bigdog. It's called simple research. Every Treasure Hunter should be able to do his own research.

 

[Bigdogdad]

A producer from New York is coming to my house tomorow. He wants to meet me in person and also meet some of my treasure hunting buddies. I also have another company interested in my story. Yes I have dug into a septic system. In fact I was scuba diving in it and have the video from 25 years ago. Yes I dug up a dead dog. I have the video of that too. It was kinda creepy when we opened the casket. I have the videos of trying to dig up pots-of-gold in North Carolina. I have video of trying to dig up the Beale treasure in Virginia. There are more. I guarantee that they are more interesting and entertaining than most of the crap on TV. ECS-If you had played nice you could be on the show too.

old man-At this point I am not worried one way or another. As ECS and others will be glad to point out I only find worthless junk, actual crap, scrap metal and dead dogs. At this rate I won't have to worry about the IRS and taxes, in fact maybe I will get a refund. In the event that I get lucky and find something of great value I will be more than happy to pay taxes on it. Just curious, what is the rate at which you pay? Sounds like it could get a little confusing.

 

[Darren in NC]

I believe this entire thread would make a great script for all the drama you guys need.

 

[Jason in Enid]

Yeah, they need to include ECS in BDD's crew so they can fight all the time for the added drama.

 

[Au_Dreamers]

AU-Dreamers-I straightened out the FDOT officials on those ridiculous points. The only one they stuck with was that by allowing me to dig (I asked for FDOT supervision and had multiple archaeologists lined up) they would be encouraging other people to want to do the same.

Good for you BDD but really so what if it did? These people are employed with our tax dollars. In a simple sense they are employed to provide service to "the people". Wouldn't that be a scope of their job AND if you did find something it would give the archaeologists some WORK. They then could study the site, study the material, write papers about it, gain credibility, they could become more well known, get grants, get their school grants, get a pay raise, write a book, make some cash....

Sounds like it would be win win!

BDD there's a saying the "kids" use these days.... If you ain't got any haters, you ain't doing sh*t!!

 

[ECS]

Yeah, they need to include ECS in BDD's crew so they can fight all the time for the added drama.

That had been considered

 

[Bigdogdad]

Au_Dreamers-I agree with all your points. I had mentioned the same thing to the state officials. It all makes sense so of course they chose not to do it. I talked to two top state archeologists, two professional archeologists, the head of the FDOT, the state lawyer, our top county commissioner, county administrator, state representative, #2 sherriff, city council members, newspaper reporters, the local FDOT supervisor, and more. It was really the state archies that stopped this. They could have let it happen if they wanted to.

The producer came to the house today. He was here for six hours. He loved my stories, dogs, cars, guitars, brothers and friends. I had nine guys there to meet him. Five of them are T-Net members. Everyone had a great time. He interviewed each of the guys. He shot two hours of video. I am sure they will want to do a show. I think the other production company will be ready next week.

ECS-I want you to be on the show. You can wear a brown paper bag over your head. You will be known as the 'Unknown Critic'. You just have to be yourself. FYI we will all be at the annual treasure hunters barbecue in Wabbasso on April 20. You should come and meet everybody. Don't forget the bag.

 

[Salvor6]

Here is a picture of REAL treasure hunters.

 

[comfortably numb]

I think I see the stars of the next reality show, Good luck.

 

[stevemc]

First time I saw this post, good luck guys.

 

[FISHEYE]

Pete,in your pic i see 3 real t hunters.who is that goober with the funny beard on the far right?

 

[Salvor6]

You know who that is.

 

[seeker41]

there are treasurehunters and treasurefinders !!!! should be an interesting cookout this year!