Thinking about starting my own mini salvage business, input?

[Rich Keller]

Haha i wish. I would MUCH RATHER be diving than mowing, though theres not really much to "salvage" around here.

If you are in an area where there are moored boats you can pick up a few hundred dollars in a good weekend but you would need a boat and some basic salvage gear to get started. What body of water are you looking to work?

 

[recardomaurice12]

Try google and you will find articles about this subject. Golf ball diving is:
1. A multi-milion dollar business
2. Jelously guarded by those who have the contracts with the golf course and theives (non-contract) are procucuted.
3. Dangerous, yes the turtles and such can bite you thourgh the suit. Some courses have gators too.
4. As a minor, you would be hard pressed to get the contract. Oh by the way "flying under the radar" and not paying taxes is a crime. Even as a minor you have to report your income if you make over the limit. You enjoy the protections of the police, fire, and the US Military to protect you, and the schools you attend and the roads you will drive on etc and so you must pay your taxes like everyone else.

There is always a need of personal protection, can you mention?

 

[fstbttms]

Yep, until you add in the number of boat hull cleaners that get electrocuted each year...

That number would be about zero, BTW. At least in saltwater.




Apologies for resurrecting an old thread.

 

[AfterDark]

Just don't get too big, it is a very rough business. I worked for a salvage business back in the 70's. The guy was in court fighting for salvage rights against another salvage co. It looked like he was going to win and we had started get gear ready. The night before the verdict the guys boat and storage building was destroyed by fire. He won the court case but lost his business.

 

[GrumpyOldGuy]

Anyway, clearly, $5,800 was wrong. Thanks for correcting me.

The $5,800 was the max a dependent could earn and still be claimed as a dependent on your taxes, it may have gone up. I skated by this one real close with my youngest last year, almost lost him as a deduction. The limit for filing is $400 if you are self employed. Its a lot higher if you paid by a company only. Being audited 2x in 3 years I unfortunately have become more familiar with tax codes than I want to be.

 

[boarderX47]

Having worked on a greens crew at a country club I would not touch the water in those ponds with a 10 foot pole. For example, we would dye our water royal blue for tournaments. Our fairways, greens and tees were sprayed at least twice a week with fertilizer, herbicides and pesticides. The course sure did look great though!

Edit: This is a very old thread...