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Saturday, October 17, 2020

10/17/20 Report - Storm Heading Our Way(?). Increasing Surf and Tides. Taxing Finds.

 

Written by the TreasureGuide for the exclusive use of the Treasure Beaches Report.

Source: nhc.noaa.gov

Right now things look calm.  There is only Invest 94 out in the Atlantic.  It is supposed to stay out there, but the surprise is what might happen south of Cuba.  

If the GFS model is correct, and not all the models agree, a storm will form in that area, head north, cross Cuba and head up along our coast.

Wind Speeds for Oct.y 26 According to the GFS Model.
Ventusky.com

As you can see from the Ventusky screen shot shown above, we could be have a storm just off our coast on Oct. 26,  I must emphasize that is nine days from now and not all models agree so the range of uncertainty is high at this point.


Source: MagicSeaWeed.com.

MagicSeaWeed.com is predicting a higher surf Sunday. incresing up to 5 - 8 feet next week.  Unfortunately for beach conditions, the wind and surf direction will be mostly ENE.  Still, there is a decent chance beach conditions will improve.

On top of higer surf, this weekend the Treasure Coast will be having King Tides.

DJ sent me the following and other information from NOAA.

* ADDITIONAL DETAILS...The highest tides of the year thus far,
also known as "King Tides", will occur this weekend, with peak
storm tides between 4 and 6 feet forecast. High tides this
weekend will occur Saturday from 800 to 900 AM and from 900 to
930 PM, and on Sunday from 930 to 1000 AM and again from 1000 to
1030 PM.

It is time to be prepared and stay alert to what is going on whether the storm predicted by the GFS model comes our way or not.

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As you know, I generally don't post YouTube videos, but here is one I thought you might want to consider. I ran across it by accident while looking up something else, or maybe somebody else sent me the link.  I'm not sure now.  

Anyhow, the video shows four metal detectors (AT Gold, F75, Equinox, and Deus) being tested on iron and good targets.  It is a test of separation - not a depth comparison test.  The fellow in the video brings up a good question related to strategies.  You might be interested.

Here is the link.

https://www.youtube.com/watch?v=L1-Pp-btbQY

If you dig everything, separation is not that important, but few people really dig everything.

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You probably remember the story about the man that found a nine carat diamond at the Crater of Diamonds State Park.  That was discussed in my 9/27/20 post.  

That was a feel-good story.  But then government gets involved.  A Forbes article talks about the tax consequences for that and other finds.  See the 9/26 article by Robert Wood in Forbes Magazine entitled Man Finds 9-Carat Diamond.  IRS Finds-And Tases-Man.

Thanks to Tony S. for that link and additional information he sent.  

Here is one paragraph from the Forbes article.

The stone has not yet been appraised, but whatever the massive diamond turns out to be worth, does Mr. Kinard really have to worry about looking over his shoulder for the IRS? Yes, that’s the not so feel-good part of the story. According to the IRS, money or valuables you find are taxed, even if you just happen upon something by pure luck, and even if you don’t sell it to turn it into cash.

I know that most detectorists metal detect for the fun of it, and few actually make any profit, but you should be aware of the possible tax consequences of finds. 

My assumption (correct or incorrect) has always been that if you treat your metal detecting like a business and keep track of expenses, the value of finds will usually be offset by expenses.  Most detectorists have hundreds, if not thousands of dollars, in just metal detectors and equipment, not to mention travel, gasoline, batteries, parking and other expenses.  

I'll probably get into more of the information Tony (an attorney) sent in the future.

It is nice that my readership includes people from all walks of life.  We usually have somebody that can provide the relevant expertise.

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Watch for the increasing surf and high tides this weekend.

Happy hunting,

Treasureguide@comcast.net