Movies
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Unbelievable that there is incentive to do a tax write off for 10's of millions. When I make investments that don't pan out, I sure as hell don't get paid out.
In both Canada and US, you can write off investment losses that could be used against investment gains. If you’re Canadian or American, you have the same write off capability as they do.
If only I had the generational wealth to make that initial investment... damn my poor pre-life decisions!
If you lose $100, you can write off $100 against your other gains. Why’d you need generational wealth?
Gonna go out on a limb speaking for myself and say, losing a hundred bucks isn't something that is really gonna push the needle on my 12k minimum write off. But, it will definitely keep me in the speculative ramen market for another few months.
Neither is 80M on a multi-billion multi-national corporation operation. WBD had $6.157B of gross income in FY2022 (FY2023 data aren't out yet, but it's close enough as a proxy). Writing off $80M against $6B is like someone with $100K incoming writing off 1.3K of losses. This is a drop in the bucket for them, just like how a couple hundred bucks are drop in the bucket for those of us that are some what privileged.
Word.