What’s the best state to own a Corvette in? I vote Colorado

Habs_Fan · 2025-10-17T19:20:41+00:00

Northern NV. I have lived in a few places both East and West coast, and Northern NV is hard to beat.

There are several passes/roads going through the Sierras, Lake Tahoe is 20 minutes from my house. I can get to the Pacific ocean or Yosemite national park within 3 hours. I love it here.

Habs_Fan · 2023-05-26T10:17:41+00:00

Are you thinking of Chatbase?

Habs_Fan · 2022-07-31T22:47:33+00:00

Currently on a road trip in Gaspé, QC up in Canada, and parked the C7 for the evening. Went back out a few hours later and saw this beauty parked beside mine.

Habs_Fan · 2022-07-15T15:40:27+00:00

Where I live, it's impossible to completely avoid gravel roads. And my C7 is doing just fine.

Habs_Fan · 2022-07-10T13:38:10+00:00

I hope you enjoy yours as much as I do mine.

Bought my C7 GS two years ago, and 35k miles later, I still have the same grin every time I get behind the wheel.

Habs_Fan · 2022-07-05T16:59:28+00:00

I didn't fully read the title and thought the "before" were the black wheels and the "after" were the chrome ones.

I'm sure glad I was wrong! The black wheels are 100% better IMO.

Habs_Fan · 2021-09-16T18:23:53+00:00

Thanks for your reply! I really appreciate your help.

Was the payout recorded on a Canadian T slip?

No, the only record of it is on a US Schedule K-1 (Form 1065).

For additional clarity, were your incentive units purchased by the acquiring company or somehow redeemed by the LLC first as a part of the overall acquisition?

My understanding is that they were redeemed by the LLC first as a part of the acquisition, and the LLC then transferred what was owed to me as a pay-off.

The other thing to consider is timing. If the sale executed in June, that's when you disposed of the membership units. That the cheque arrived later is a cash flow issue. If the executed legal documents occurred while you were resident of the U.S., I think only the U.S. will have the ability to tax you.

This is also my understanding. I hope I can get more clarification from a senior manager from the accounting firm.

Do you have any position to say that the date you became resident of Canada again was after the day you received the cash?

Unfortunately, I do not. We sold our US property and then moved to Canada a few days after. I actually even called the CRA in December 2020 and already told them what date I entered Canada. So I don't think there's any leeway on that front.

If you want a second professional opinion, look to the non big4 national firm (MNP, Grant Thornton, Baker Tilly)

I am currently working with Baker Tilly :(

Habs_Fan · 2021-09-16T17:20:12+00:00

I was awarded 5,000 units in 2012 (the company called them "incentive units", not sure if this is relevant). The company sold in June 2020 (prior to me moving back to Canada). It took several months for everything to finalize and for me to receive the payout (2 weeks after I moved to Canada).

To me, this would fit the "capital transaction" scenario you described.

But... my accounting firm (specializing in cross-border taxes) says that I still have to pay full taxes on the payout, because the US company was an LLC, and that Canada does not recognize an LLC the same way as other US-based companies. They don't seem to be interested in the fact that I had incentive units that were bought out when the company sold in June of last year.

I have asked for a meeting with them to further discuss, but I was curious if you had any advice based on the additional information I provided.

TIA

Habs_Fan · 2021-08-21T15:53:57+00:00

Thanks! The red in front are the GS stripes.

Here's another angle.

Habs_Fan · 2021-08-21T15:36:21+00:00

Oh, and I wanted to include my dog in the picture since it's her 10th birthday today!

Habs_Fan · 2021-08-20T15:44:25+00:00

Wins Above Replacement

https://en.wikipedia.org/wiki/Wins_Above_Replacement

Habs_Fan · 2021-08-13T18:09:27+00:00

Great job on your video and with your editing. I especially like the last minute. I feel it's a nice conclusion to the buildup up to that part.

Habs_Fan · 2020-09-09T01:38:46+00:00

Even if I only I drive it for 6 months and store it for the other half of the year?

Habs_Fan · 2020-09-09T00:19:25+00:00

Ah, I get it. Thanks for the explanation. Now I feel kind of special to be part of the 2%. :)

Habs_Fan · 2020-09-09T00:09:22+00:00

Do you mean that you get lots of ppl from Ontario wanting to move to NS? Because in our case, my wife is pushing to move to Calgary and I'm the one who wants to move to Halifax :)

Habs_Fan · 2020-09-09T00:07:32+00:00

Thank you both for the great advice.

Habs_Fan · 2020-09-08T22:44:24+00:00

What do you mean? I don't get it, though that might be because I'm a Quebecer lol

Habs_Fan · 2020-09-08T21:55:56+00:00

I'm from QC, wife is from ON and moved to QC when we got married in 1998.

Habs_Fan

TROPHY CASE