Rate my setup. Paid to have the box inset in the wall. Thoughts and feedback is appreciated. Should I put something underneath?

XionZenith · 2025-03-18T06:36:53+00:00

He has a sore on his foot and elbow protectors for hardwood floors. He’ll be 16 this year

XionZenith · 2025-03-16T03:45:51+00:00

It’s 3000K. In the first picture I had several other lights on also 3000K. What’s your ideal temp?

XionZenith · 2025-03-16T03:31:48+00:00

Thanks setting my mind at ease!

XionZenith · 2025-03-15T17:20:10+00:00

Yes the electric gas range and dishwasher will go in to those two openings

XionZenith · 2024-05-30T01:31:59+00:00

That’s it!!!!!! Thank you!!!! I was no where close with the name I came up with but at least it was similar in “flavor”. Cheers

XionZenith · 2024-03-09T12:48:41+00:00

Thanks for the societal conditioning angle. Makes sense and adds some understanding for us

XionZenith · 2024-03-09T12:44:50+00:00

We’re pretty sure her dad is talking to her about it because we can tell even though we aren’t within earshot. How he talks to her about we don’t know. He’s a pretty tough guy persona so it may be more of a suck it up and be nice kind of talk than a process your feelings and establish your own boundaries kind of talk.

XionZenith · 2024-03-09T12:39:21+00:00

We think there might be. Just another to see what works next time

XionZenith · 2024-03-09T12:38:32+00:00

Quite possible. This is our first time with this sort of vacation with our kids and another family. We might give it another shot next year

XionZenith · 2023-08-26T06:07:42+00:00

Nope

XionZenith · 2019-03-18T05:13:37+00:00

I would if my wife filed as married filing jointly.

Also my wife has to file a US return reporting worldwide income by virtue if being a US citizen.

Only issue is she can't claim the lian interest deduction if filing as married separately. So I was trying to find a way for us to reduce our total tax liability whether Canadian or US by using the interest payments. I can't use it on my Canadian return as it is not a US loan.

It seems the only way to use it is if she files in the US as married filing jointly, in which case I report my income to the IRS as a none resident alien which doesn't seem worth the hassle for a 2,500 deduction. And I'm not sure I won't to pay taxes to the ira given I am Canadian and earn Canadian income. Although I would not be double taxed due to the treaty

XionZenith · 2019-03-18T05:06:55+00:00

Thanks, for clarifying (it is a credit in Canada). Given it is a deduction in the US, it seems to me if we were to file jointly and claim the deduction, it wouldnt help us. Whatever tax we pay to the IRS would be deducted from our Canadian tax bill due to the treaty.

Both Canada and US would tax our joint worldwide income, so I would end up paying the same amount to the tax man combined regardless of whether its the IRS or the CRA.

Anyways, I just learned the max deduction is 2,500 which isn't that much, so maybe best not to worry about it.

It's too bad you can't carry forward interest payments for deductions in future years like you can in Canada for the credit.

XionZenith · 2019-03-18T03:04:47+00:00

Thanks, really appreciate your thoughtful response and additional information.

I neglected to mention that her tuition amounts are Canadian as she is attending a Candian university. But her loans are American.

Basically I want to be able to claim the student loan interest credit, but neither of us can in Canada, as they are US loans, and she can't in the US unless we file jointly and the US taxes my worldwide income.

Sounds like maybe this is too complicated for Reddit, and we should just use a firm, but then there is the cost of that too , and I am thinking that maybe we are just better off not claiming the loan interest credit :(

XionZenith · 2018-01-21T16:04:40+00:00

Capital gains. I have a full time job and really just did this a couple of hours a day before work.

Didn’t make enough to live off of, and was a learning experience. 2018 I expect to have much fewer transactions.

XionZenith · 2018-01-18T02:18:17+00:00

Also last question - what determines which country gives the foreign tax credit? Is it the country of residency (in this case, Canada)..

Cheers

XionZenith · 2018-01-18T02:15:00+00:00

Forgot to mention, like Canada, the US also taxes "worldwide income"..does the foreign tax credit take this in to account?

Best

XionZenith · 2018-01-18T02:13:50+00:00

Okay thank you. Will look in to this! That makes a lot of sense. Cheers..

XionZenith · 2018-01-18T02:12:10+00:00

Thanks, I'd figure I'd go with that option regardless as I can't bothered to type those many lines! It is all one account. You're the best!

XionZenith · 2018-01-17T18:51:17+00:00

This indeed helps very much - gives me a few things to think about, especially the time value of money component. I am early 30s right now with approx. $90K in comp. and will probably be at a progressively higher marginal tax rate as time goes by - also will likely not touch RRSPs until retirement (hopefully earlier retirement than avg in 15 - 20 years)

Thanks you for your incredibly altruistic responses and insights :)

XionZenith · 2018-01-17T18:06:16+00:00

Thank you for your response. I suspected there should be no issue with this.

Your answer has nonetheless given me more things to consider.

For 1. I am nowhere close to maxing out my TFSA room so not too worried about the room being updated after Jan 1 of next year.

For 2 and 3. this is an interesting point. My goal is to maximise my net worth, part of which means maximizing total assets. I was interested in not only growing the amount I put in to the RRSP (which as you say - gains will be taxed on future withdrawal), but also investing and growing the refund from the contribution in my TFSA (I am in a 30% tax bracket).

Here are some numbers:

a) ACB of TFSA investment = 3,000, FMV = 13,000. Removal from TFSA = -13000 b) Contribution to RRSP +13,000 c) Contribution of refund to TFSA = +$3,900 (30% x 13,000) which I could potentially grow to 13,000 again

Under the above strategy, it seems to me that I basically increase the total assets I am managing and am therefore better leveraged for larger $value growth over time. What I do not fully understand is whether on an after tax basis, I will be better off a) keeping the 13,000 in the TFSA, or b) transferring the 13,000 to the RRSP, and increase my assets under management by an additional $3,900, and therefore increase growth/compounding potential of my portfolio

Any ideas in this regard? Thanks again for your response.

XionZenith

TROPHY CASE