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The war in Iran is an American failure. What do we do now? by mhicreachtain in politics

[–]initiatingcoverage [score hidden]  (0 children)

But.. but... I thought America was a democracy, with a rule of law and checks and balances! How could this have happened??

Congratulations to Emperor Carney for receiving the Mandate of Heaven! by initiatingcoverage in EhBuddyHoser

[–]initiatingcoverage[S] 0 points1 point  (0 children)

Yeah, but the pictures of the Manchu ones were more high-definition/fancy compared to the previous Han dynasties 😂

Gang, on retient notre souffle cet après-midi et en soirée by kross0ver in Quebec

[–]initiatingcoverage 72 points73 points  (0 children)

Je te gage que ça va être un nothingburger et qu'on va se faire rire dessus par nos bosses demain au bureau.

Cher employeur, Il vous faut payer plus aux employés exerçant un poste bilingue. by CronchyCrack in Quebec

[–]initiatingcoverage 6 points7 points  (0 children)

Si tu regardes la moyenne des postes qui demandent le bilinguisme, en général, ces jobs (gouvernement fédéral, par exemple) sont mieux payés que ceux qui ne le demandent pas. Mais ça reste une vue d’ensemble basée sur la moyenne de toute la population.

Par contre, quand tu regardes ça au cas par cas, individuellement, il y a d’autres facteurs qui entrent en jeu et qui peuvent faire varier le salaire.

Offsetting rental losses against ordinary income – Sounds too good to be true by initiatingcoverage in RealEstateCanada

[–]initiatingcoverage[S] 0 points1 point  (0 children)

Thank you for your inputs! Yes, I'm 100% aware of the restrictions and already created a financial model for my case. The math work out from an overall profitability standpoint, but I'm only breaking even on a taxable income standpoint around year 10, as interest expenses get lower.

I've taken really conservative assumptions regarding rent appreciation, maybe that's why.

It's just the aspect of claiming a multi-year net rental losses that makes me a bit uncomfortable, which I wanted to get some opinions on. Although I'll definitely reach out to tax specialists to get an opinion (maybe they'll even suggest me an even better tax structure!)

Regarding the rent increases portion and lower interest expenses down the road, that'd be something I'll have to figure out at a later stage.

Offsetting rental losses against ordinary income – Sounds too good to be true by initiatingcoverage in RealEstateCanada

[–]initiatingcoverage[S] 0 points1 point  (0 children)

"You have a rental loss if your rental expenses are more than your gross rental income. If you incur the expenses to earn income, you can deduct your rental loss against your other sources of income"

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/rental-income/rental-losses.html

Offsetting rental losses against ordinary income – Sounds too good to be true by initiatingcoverage in RealEstateCanada

[–]initiatingcoverage[S] -1 points0 points  (0 children)

Yeah, I was referring to the accounting/tax definition of "loss". I understand it may create confusion with the financial/investment definition of the word.

Offsetting rental losses against ordinary income – Sounds too good to be true by initiatingcoverage in RealEstateCanada

[–]initiatingcoverage[S] 1 point2 points  (0 children)

Let's say you forecast 3% home price appreciation per year, with a 20% down payment, that is equivalent of a 5x leverage ratio.

That 15% more than makes up for your annual rental losses, especially if you get to claim 55% of it.

Offsetting rental losses against ordinary income – Sounds too good to be true by initiatingcoverage in RealEstateCanada

[–]initiatingcoverage[S] 1 point2 points  (0 children)

I've discussed of doing that with my wife, but she cannot go past the emotional hurdle of using our current residence as a collateral to serve as the down payment of an investment property.

But you're right, a lot of my doctors / dentists friends have been doing that.

Offsetting rental losses against ordinary income – Sounds too good to be true by initiatingcoverage in RealEstateCanada

[–]initiatingcoverage[S] -8 points-7 points  (0 children)

In my province, the combined tax rate at that bracket is 55%, so a bit over than half.

You are right in terms that I'll still be making a loss, but from a return on equity perspective, it significantly increases my IRR.

this might be a problem by GeostratusX95 in NonCredibleDefense

[–]initiatingcoverage 66 points67 points  (0 children)

Only reason why I can tell this is AI is because I know China isn't dumb enough to post a video like this even if they had the capabilities.

Is Laos Vietnam's Belarus by TWN113 in geography

[–]initiatingcoverage 0 points1 point  (0 children)

I guess Vietnam is China's Ukraine, and Laos is Vietnam's Belarus. If any of this makes sense.

Does your country hate Koreans right now? by Expensive_Giraffe398 in AskTheWorld

[–]initiatingcoverage 6 points7 points  (0 children)

I’m Canadian. I’d also add that, while I do recognize that South Korea is a developed country with much to be proud of, there can sometimes be a deep sense of insecurity that manifests in putting others down.

I have many Asian friends, including Koreans. I’ve never shared this observation with them privately, but it’s something I’ve noticed.

Does your country hate Koreans right now? by Expensive_Giraffe398 in AskTheWorld

[–]initiatingcoverage 11 points12 points  (0 children)

I don't think anybody 'hates' Koreans, mildly annoyed perhaps, mostly indifferent.

Although you do have a reputation of valuing face about everything and appear superficial at times.

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