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Forum topic by CharlesA posted 04-07-2017 03:09 PM 7033 views 0 times favorited 30 replies Add to Favorites Watch
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CharlesA

3334 posts in 1884 days


04-07-2017 03:09 PM

https://www.facebook.com/thomas.j.macdonald/

-- "Man is the only animal which devours his own, for I can apply no milder term to the general prey of the rich on the poor." ~Thomas Jefferson


30 replies so far

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Woodknack

12243 posts in 2466 days


#1 posted 04-07-2017 05:51 PM

Saw that coming with the shop build. I suspect he will start his own show.

-- Rick M, http://thewoodknack.blogspot.com/

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pintodeluxe

5737 posts in 2899 days


#2 posted 04-07-2017 06:26 PM

Too bad, I like that show. Hopefully he will continue to film in another capacity.

-- Willie, Washington "If You Choose Not To Decide, You Still Have Made a Choice" - Rush

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Woodknack

12243 posts in 2466 days


#3 posted 04-07-2017 06:36 PM

According to his website, he will be starting a subscription service. I’m guessing it will work like 360Woodworking, Woodwhisperer, etc. Be nice to see him get busy on Youtube but he might consider that a step down after being on television although I would consider it freedom.

-- Rick M, http://thewoodknack.blogspot.com/

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bonesbr549

1569 posts in 3153 days


#4 posted 04-07-2017 07:10 PM

well pbs may be looking funding anyway so hope he does somethiing been a follower since his podcast days
.

-- Sooner or later Liberals run out of other people's money.

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Woodknack

12243 posts in 2466 days


#5 posted 04-08-2017 02:41 AM

It will be good for PBS in the long run. When USPS was defunded it become one of the most efficient and well run organizations in the world. People like to give them grief but no private company could do what USPS does. Hell, most companies that large wouldn’t exist without regular bailouts of taxpayer money.

-- Rick M, http://thewoodknack.blogspot.com/

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DrDirt

4426 posts in 3828 days


#6 posted 04-12-2017 04:52 PM

So is the show continuing. BUT with a new host?

-- “The two most important days in your life are the day you are born and the day you find out why.” Mark Twain

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CharlesA

3334 posts in 1884 days


#7 posted 04-12-2017 04:55 PM



So is the show continuing. BUT with a new host?

- DrDirt

no idea. I was listening to WoodTalk and Marc said that Rough Cut is essentially New Yankee Worship part II. I hadn’t thought of that. Perhaps there will be a part III.

-- "Man is the only animal which devours his own, for I can apply no milder term to the general prey of the rich on the poor." ~Thomas Jefferson

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Woodknack

12243 posts in 2466 days


#8 posted 04-12-2017 06:12 PM

Tommy Mac has an executive producer credit so he may play a role behind the scenes but somehow I doubt it. He did a live broadcast last weekend and ignored questions about Rough Cut and instead focused on promoting his classes.

-- Rick M, http://thewoodknack.blogspot.com/

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pontic

622 posts in 695 days


#9 posted 04-12-2017 08:47 PM

Maybe IRS will have something to say about writing off his new shop, if he is no longer doing TV stuff.

-- Illigitimii non carburundum sum

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DrDirt

4426 posts in 3828 days


#10 posted 04-13-2017 06:44 PM


Maybe IRS will have something to say about writing off his new shop, if he is no longer doing TV stuff.

- pontic


He’s OK if he is doing classes and making furniture for sale…. so it is still a “place of business” with usual debits, credits and depreciation charges.
He he just decided it was his man cave…. yep! The Tax Man would cometh.

-- “The two most important days in your life are the day you are born and the day you find out why.” Mark Twain

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DrDirt

4426 posts in 3828 days


#11 posted 04-13-2017 06:48 PM

<.

-- “The two most important days in your life are the day you are born and the day you find out why.” Mark Twain

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Woodknack

12243 posts in 2466 days


#12 posted 04-13-2017 07:22 PM

Maybe Pontic has inside knowledge but I wouldn’t assume he paid for it, or maybe only paid for part. The production company could have paid for it as a type of severance package, which they will write off as a business expense.

-- Rick M, http://thewoodknack.blogspot.com/

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ShaneA

7010 posts in 2684 days


#13 posted 04-13-2017 08:09 PM

Yeah, I figured all that stuff was “free” on some sort of sponsorship.

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pontic

622 posts in 695 days


#14 posted 04-13-2017 09:48 PM

Total cost of the tools are 238K. Shop cost 200Kplus. Shop was built for His New business. Tools were questionable as to who is paying for them. If they were “gifted” to him by the CIMMI corp. then he must report that as personal income. Can’t gift to a constructed entity(corporation) unless t is a registered charity. Tommy gotta pay tax on the gift. If they were given as a promotional product(which I seriously doubt) then the CIMMI corp. must report the expense.
Only so much in dollars are allowed per income they can report. It will still be considered a gift to Tommy’s business as a “Traded asset”
The IRS red flags these guys when they break away from the PBS system and “go on their own”
The “American Woodshop” is having these problems as we speak. So look out Tommy. My wife is a Certified Fraud examiner and a CPA. This is what she said when she came back from one of her association conferances.

-- Illigitimii non carburundum sum

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TravisH

592 posts in 2021 days


#15 posted 04-14-2017 12:06 AM

I imagine he has absolutely no worries about tax implications…. His CPA worries about that.

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