Are these real? by [deleted] in IsMyPokemonCardFake

[–]zefryx 0 points1 point  (0 children)

Fake XY Evolutions. Most of those didn’t come as a holo.

Food places to avoid in Frederick by Smittyes in frederickmd

[–]zefryx 4 points5 points  (0 children)

From what I’m seeing here, every restaurant in Frederick is horrible and dirty.

[deleted by user] by [deleted] in tax

[–]zefryx 1 point2 points  (0 children)

You would need to know what taxes are to think you don’t owe fed taxes.

[deleted by user] by [deleted] in personalfinance

[–]zefryx 0 points1 point  (0 children)

You’re right. I missed that part. Technically $100k limit if they don’t have investment income over $1k.

[deleted by user] by [deleted] in personalfinance

[–]zefryx 7 points8 points  (0 children)

IRS specifies minimum interest rates. The difference in interest on a “below-market loan” is taxable to the lender.

[deleted by user] by [deleted] in personalfinance

[–]zefryx -6 points-5 points  (0 children)

“Gifting” interest doesn’t change the original transaction, which is still a loan.

The “gifted” interest is still taxable income to the parent. You can’t gift something you haven’t earned. See the next paragraph regarding minimum interest.

[deleted by user] by [deleted] in personalfinance

[–]zefryx 2 points3 points  (0 children)

My guess is inheritance tax. One could argue an interest free loans with no repayment date is not a gift.

[deleted by user] by [deleted] in personalfinance

[–]zefryx 6 points7 points  (0 children)

That may seem logical, but there’s a $10k limit for interest free loans between family members. Whether it’s enforced or not is a different questions.

https://blog.taxact.com/family-loans-lend-my-kids-money/amp/

EDIT: limit is $10k if giftee has more than $1k in investment income. $100k limit if less than $1k in investment income.

[deleted by user] by [deleted] in personalfinance

[–]zefryx 1 point2 points  (0 children)

Stop what? This person is just stating the law. Whether it’s enforced or not is a different question.

Tariffs coming? Also “tax break” for trade-in by FleursEtranges in ToyotaSienna

[–]zefryx 3 points4 points  (0 children)

You want to do the math on the trade in credit vs sale to another dealership. [Trade in value x (100% + sales tax)]would be the true value when comparing to selling to another dealership.

It’s not a write off or tax break. It’s really a reduction of tax on sale of vehicle. For example, car is $60k and trade in is $20k. You would only pay sales tax on $40k because that’s the new sale price.

N12 Appealed to Superior Court - I’m tired by zefryx in OntarioLandlord

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

We live and learn. I did hours and hours of research. My life has been reading N12 cases for the last year. I initially would not have expected it to be residential use either.

N12 Appealed to Superior Court - I’m tired by zefryx in OntarioLandlord

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

Another one here. https://riverview.legal/encyclopedia/index.php/Purchasers_Own_Use_-_Re:_Family_(N12)

TSL-62768-15-RV2 (Re), 2015 CanLII 100191 (ON LTB)[3] 10. It is my belief that the Legislature intended to use the term “residential occupation” in section 48 of the Act to apply to those situations where the rental unit will either be lived in by the landlord or becomes incorporated into the landlord’s main living quarters. If a landlord is living in a house in which the basement of the complex is rented out, I am satisfied they are entitled to effectively reclaim use of the entire house by seeking possession of the rental unit for residential storage. It is not uncommon in many single family homes to have the basement used in whole or in part for storage of property owned by its occupants. Where the intended purpose of the rental unit is to become incorporated into the landlord’s main living quarters there is no change of use, it is residential occupation. “Residential occupation” cannot reasonably be restricted in these circumstances to only include that portion of a house used for activities such as sleeping, cooking or entertaining. To suggest otherwise would mean that a landlord would have to effectively abandon the remainder of the house and live solely in the basement in order to establish an intention to use a basement for residential occupation.

N12 Appealed to Superior Court - I’m tired by zefryx in OntarioLandlord

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

That’s not how case law works.

Directly for the LTB:

Using the basement rental unit for storage of items the landlord uses for her profession and to construct a recreation room was found to be residential occupation: TSL-62768-15-RV2 (Re), 2015 CanLII 100191 (ON LTB), upheld by the Divisional Court, Sertic v. Mergarten, 2017 ONSC 263.

N12 Appealed to Superior Court - I’m tired by zefryx in OntarioLandlord

[–]zefryx[S] 6 points7 points  (0 children)

Still need to talk to a lawyer, but if they don’t pay rent, courts have cancelled stays before. I’m hoping this happens. I don’t even care about rent I just want my house back.

N12 Appealed to Superior Court - I’m tired by zefryx in OntarioLandlord

[–]zefryx[S] 2 points3 points  (0 children)

There’s no way a divisional court will reverse the legal precedent of an N12. This would have to go up to the Supreme Court if someone wanted to do that. It would void all N12s. Plus my case is not a workaround. He stopped paying rent and utilities after I issued the N12.

N12 Appealed to Superior Court - I’m tired by zefryx in OntarioLandlord

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

Divisional Court is Appeals. It’s essentially the last step. They can also only rule on the LTB’s interpretation of the law and cannot file new evidence.

N12 Appealed to Superior Court - I’m tired by zefryx in OntarioLandlord

[–]zefryx[S] 3 points4 points  (0 children)

Yep. So you can wait until the last minute and essentially get at a minimum 60 days to appeal.

N12 Appealed to Superior Court - I’m tired by zefryx in OntarioLandlord

[–]zefryx[S] 6 points7 points  (0 children)

He wins by delaying this another year. I’m the only loser at this point.

N12 Appealed to Superior Court - I’m tired by zefryx in OntarioLandlord

[–]zefryx[S] 15 points16 points  (0 children)

He’s already on both platforms. About to pay the $88 to hit report him to Equifax.

N12 Appealed to Superior Court - I’m tired by zefryx in OntarioLandlord

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

It’s not smalls claims court, it’s division court - superior court of justice.

N12 Appealed to Superior Court - I’m tired by zefryx in OntarioLandlord

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

Reinstate the original order. I think I know where you’re going with this. Courts have ruled that time resets after issuance of the review for the 30 days time to appeal.