[HUG ] Re: SV: Re: On the subject of equipement cost

Well, I don't even play a lawyer on tv, but here is what I understand about the US IRS:
You are free to operate a business in any manner that you please, and take all appropriate deductions, but if after five years, you don't show a profit (on which, of course, you pay taxes) then it is classified as a hobby, and you can no longer get any tax benefits.
It may be more complicated than this, and there may be loopholes (you've all read about the US congress), so if you are more up, chime in! 

Bill Pearce
----- Original Message ----- From: "Franc Flipsen" <fujifan@xxxxxxxxx> 
To: <hasselblad@xxxxxxxxxxxxx>
Sent: Wednesday, October 15, 2008 12:37 PM
Subject: [HUG ] Re: SV: Re: On the subject of equipement cost



Hi,

I wouldn't call it tax paradise but Revenue Canada calls them part time
businesses (not hobbies) and any expenses that are incured business
activities are tax deductible. Losses are tax deductible from other income. 
In Canada a person must declare income (and losses) from all sources on
his/her personal tax form.

Franc
----- Original Message ----- From: "Tom Just Olsen" <tjols@xxxxxxxxx> 
To: <hasselblad@xxxxxxxxxxxxx>
Sent: Wednesday, October 15, 2008 10:55 AM
Subject: [HUG ] SV: Re: On the subject of equipement cost





 My understanding is that you can
write off Hobby expenses against and to the extent of Hobby earnings, not 
against other income.


You must be living in a tax paradise.

Leica will drop out first, Nikon will never enter the business, and
Hasselblad will maintain their company by being the last..   My
predictions..


With the current credit crunch all the companies you mention are in deep
trouble.  Could be that only Nikon survives. Taken off the stock market
and under new ownership.

Tom of Oslo








Frank Filippone

red735i@xxxxxxxxxxxxx



From: hasselblad-bounce@xxxxxxxxxxxxx
[mailto:hasselblad-bounce@xxxxxxxxxxxxx] On Behalf Of Franc Flipsen
Sent: Saturday, October 11, 2008 10:16 PM
To: hasselblad@xxxxxxxxxxxxx
Subject: [HUG ] Re: On the subject of equipement cost



Frank,
The point I was making was that 3-5K for the serious amatuer or a low end 
pro was the norm.  $39K blads aren't selling like hotcakes but alot of
guys
are looking at the new hasselblad pricing stratagy, with a price drop of
25-40% on the complete line alot of people are very interested. Mind you, you loose the gold plated trade-up program but this means that there will 
be
a whole lot more used H gear on the market. the new pricing will bring
the
H3DII-22Mp kit in at around $12K, the 31Mp kit at $18K and the 39Mp kit
at
about $26K. My dealer tells me that he has orders for the S2 already and 
serveral people are waiting to see the product, it's supposed to hit the
shelfs right after Christmas.



BTW every person who sells a picture can write off the equipment against
there day job. As long as you remain a sole -proprietor in your
photography
business any losses can be deducted from your total income.  I have
friends
that make $70K in their day jobs and shoot a couple of weddings a year,
have
alot fancier gear than I do and write it all off against their day job
income.



Franc
----- Original Message ----- 
From: Frank Filippone <mailto:red735i@xxxxxxxxxxxxx>

To: hasselblad@xxxxxxxxxxxxx

Sent: Saturday, October 11, 2008 8:56 PM

Subject: [HUG ] Re: On the subject of equipement cost



I think this got disconnected. I was referring to the Leica S2 or the
Hasselblad H-whatever for $39K.



Tell me he is selling 30 $39K Hasselblads a week, and I will be proven
wrong...



Frank Filippone

red735i@xxxxxxxxxxxxx



From: hasselblad-bounce@xxxxxxxxxxxxx
[mailto:hasselblad-bounce@xxxxxxxxxxxxx] On Behalf Of Franc Flipsen
Sent: Saturday, October 11, 2008 1:52 PM
To: hasselblad@xxxxxxxxxxxxx
Subject: [HUG ] Re: On the subject of equipement cost



Frank,



I don't think it matters where you are in the world.  Here in Edmonton,
AB
Canada (pop. 1M in Metro) my dealer sold his first shipment of 30 D3's in 
4
days and sold 50 D700 in a week.  He still is selling D3's at 4-5 a week
and
a dozen D700's every week, and mostly to amatuers/Semi pros. He tells me 
the D700 is very popular with the students, They'll do without for a few
months just to own one.



Franc
----- Original Message ----- 
From: Frank Filippone <mailto:red735i@xxxxxxxxxxxxx>

To: hasselblad@xxxxxxxxxxxxx

Sent: Saturday, October 11, 2008 10:01 AM

Subject: [HUG ] Re: On the subject of equipement cost
Jim, to be fair, you do live in the Techno-center of the world. I think 
that if I heard this from someone in Des Moines Iowa, it would have more
impact as a universal market.



And, OTOH, I could be wrong about who is buying these things..  it could
be
Joe Six-Pack..



Imagine.. Disneyland with 10,000 Fathers using H3 39MP cameras....  It
boggles the mind...the rest are using D3 and D700 and Mark somethings.



I really think the market is tiny.. And limited to those amateurs with
high
disposable incomes and Pros.



Frank Filippone

red735i@xxxxxxxxxxxxx



From: hasselblad-bounce@xxxxxxxxxxxxx
[mailto:hasselblad-bounce@xxxxxxxxxxxxx] On Behalf Of Jim Brick
Sent: Saturday, October 11, 2008 8:58 AM
To: hasselblad@xxxxxxxxxxxxx
Subject: [HUG ] Re: On the subject of equipement cost



Funny thing is, my local photo shop (Keeble & Shuchat Photography) has
trouble keeping D3's, D700's 1Ds Mark III's, 5D's, and now 5D Mark III's
in
stock. They run out of the store as fast as they can get them in. I their 
initial stock of 100 D700's were gone in two days. KSP also does a land
office business in large format ink splatter printers. Someone other than 
photo pro's and lawyers are buying this stuff. And when Mary Mac worked
there, KSP was the top MF digital back sales store west of the Rockies.
In a
year, the number of Imacon & Leaf backs that went out of KSP was mind
boggling! I don't remember the number but it was huge.



Again, there has to be a ton of folks buying this stuff - all of the
time -
or the companies who make them would not make them. The amount of R&D and 
production cost that goes into a new digital system (Hx, Canon, Nikon,
Leaf,
Sinar, ???), is staggering, and they must be recouping the cost, or, it
wouldn't work.



IMHO,



Jim







On Oct 10, 2008, at 2:29 PM, Frank Filippone wrote:
And just who do you think can afford a $5K to $8K camera body, other than 
pros that can write it off?   A few rich amateurs?  Very Few?
Some of us have financial obligations. like house payments, car payments, 
medical payments or insurance payments, child support payments, or (
heaven
forbid) alimony payments.



The world really is NOT flush with disposable income magnates..much as
the
world marketing organizations want you to believe otherwise......










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