Examlex
A business plans to sell its office building which it acquired and placed in service in 1995. Sec. 1250 requires a portion of gain realized on the sale of a building used in a business and depreciated under MACRS to be recaptured as ordinary gain.
Equitable Distribution
A legal principle in divorce law where marital property is divided fairly between the spouses, not necessarily equally.
Recalcitrant Debtors
Individuals or entities that stubbornly refuse to pay debts they owe, despite legal obligations to do so.
Insider
An individual who possesses confidential information about a company, typically due to their position within the company.
Bankruptcy Courts
Specialized federal courts tasked with handling bankruptcy cases and related legal proceedings.
Q8: The primary citation for a federal circuit
Q11: The mid-quarter convention applies to personal and
Q28: Kerry is single and has AGI of
Q31: Costs of tangible personal business property which
Q45: A calendar-year corporation has a $75,000 current
Q56: If real property used in a trade
Q67: Layla earned $20,000 of general business credits
Q72: Vector Inc.'s office building burns down on
Q77: Generally,if inventories are an income-producing factor to
Q142: An example of an AMT tax preference