Sale of employee residences: characterization of losses
A clause found in most employment contracts provide for the acquisition of an employees' residence resulting from employment termination or transfer of employment site. Many resale transactions, however, brought losses to the employer due to the downward trend of US real estate market. Sellers are confronted with the tax aspect of the sale which is whether to treat the losses as capital or ordinary. The IRS, US Tax Court and the Fifth Circuit Court of Appeals consider the losses as capital.
Publication Name: Real Estate Accounting & Taxation
Subject: Real estate industry
Imperial College Library, London was refurbished and extended by John McAslan & Partners, at a cost of 6.5 million pounds sterling. Two new floors were added and the extension features full-height glazing, fritted to provide solar protection. The ground floor lobby was also redesigned, incorporating a new college bookshop.
Publication Name: Architects' Journal
Subject: Business, international
Philadelphia lawyers: if you think the expression hasn't become an insult, sue me
Alexander Hamilton in his winning defense of Peter Zenger in the freedom of the press case, earned the title 'Philadelphia Lawyer' since that was his city. But the term gradually began to mean a lawyer skilled in exploiting technicalities. The meaning of the term 'tweak' is also discussed.
Publication Name: The New York Times Magazine
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