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BUSINESS
By Kenneth R. Harney | June 29, 1997
AS THE HOUSE and Senate moved to complete work on their respective balanced-budget and tax bills last week, homeowners and real estate investors could begin to see how the two pieces of legislation would affect them.For homeowners and sellers, both the House and Senate measures would scrap the current, complicated system of capital gains "rollovers" on home sale profits, as well as the current $125,000 tax-free exclusion on gains by sellers 55 years or older.The bills would replace the existing system with a more generous approach that would essentially exempt most home sellers from paying any federal taxes on their gains, up to specified limits.
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BUSINESS
May 15, 1991
May Department StoresThis St. Louis-based retailer, one of the largest in the country and the parent of the Hecht's department store chain, posted a 5 percent decline in net income and a modest gain in revenues for its first quarter, which ended May 4.The company said that weak sales have continued into 1991 and that it is keeping a close eye on inventory levels and expenses.Analysts said that May's tight expense control resulted in better-than-expected operating margins.May had 326 department stores and 3,004 specialty stores at the end of the first quarter.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | August 16, 1994
Better results at shopping malls pushed The Rouse Co.'s key earnings measure up 26 percent during the second quarter.Columbia-based Rouse said it earned $21.2 million during the quarter that ended June 30, excluding allowances for depreciation of its real estate assets and deferred taxes. The company earned $16.8 million by the same measure in the second quarter of 1993.Real estate companies typically rely on cash flow, or earnings before depreciation and taxes, rather than the net income measure used by other companies, because accounting rules for net income distort real estate results by requiring companies to write down the value of their assets.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | February 25, 1994
The Rouse Co. of Columbia said yesterday its operating profits rose 50 percent in 1993, thanks largely to refinancing of debt and better-than-average occupancy at the company's shopping malls.Rouse said its earnings before depreciation and deferred taxes were $78.3 million, up from $52.3 million in 1992. In the fourth quarter, Rouse earned $25.2 million before depreciation and deferred taxes, up from $20.6 million in 1992's last three months.Like many real estate investment-oriented companies, Rouse posted net losses for the year and for the quarter.
BUSINESS
By Jay Hancock and Jay Hancock,SUN STAFF | August 14, 1997
Higher rents, profitable land sales and the generally buoyant economy helped to propel Columbia-based Rouse Co.'s profit substantially higher in the second quarter, the company said yesterday.Rouse's profit before depreciation and deferred taxes soared 53 percent for the three months ended June 30, to $45.4 million, compared with the same period last year. Financial analysts generally ignore depreciation in real estate companies' results because it subtracts paper value from properties whose worth is often rising.
BUSINESS
By Jay Hancock and Jay Hancock,SUN STAFF | October 8, 1996
Business doesn't get much better than what Host Marriott Corp. has these days: hot products, low costs and limited competition.Its key profit gauge soared 58 percent last quarter, the Bethesda-based company said yesterday, pleasing industry analysts and sending its stock to another high.The results were "better than good," said Jack Kasprzak, who follows Host Marriott for Davenport & Co., a Richmond, Va.-based investment firm. "They surprised everyone, myself included. I didn't think the hotel business would be as strong as it is after three really good years.
BUSINESS
By Blair S. Walker | April 12, 1991
At Greater Baltimore Medical Center, the recession, an aging physical plant and a growing patient load have come together and resulted in an ambitious building program.The construction and renovation project will cost at least $100 million, according to GBMC President Bob Kowal.A groundbreaking for the project took place yesterday at the Towson hospital, at 6701 N. Charles St. The improvements will take at least six years to complete and will significantly upgrade surgical and obstetric capabilities at GBMC.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | November 13, 1996
Despite only modest gains from its retail centers, the Rouse Co. yesterday reported strong third-quarter earnings of $34.5 million, continuing a record-setting pace for 1996.The 18 percent increase in earnings before depreciation and deferred taxes was largely the result of gains in office and mixed-use properties and land-development activities.The Columbia-based real estate company also benefited from its acquisition of the Howard Hughes Corp., and the quarter ended Sept. 30 was the first to reflect income from the $520 million purchase.
BUSINESS
March 1, 1999
Members of the Maryland Association of Certified Public Accountants are answering readers' tax questions through April 15. See below for how to submit a question.I began renting my condo this year, on which I am still paying a mortgage. How should I handle this for tax year 1999?Landlords are taxable on the rental income they receive and are entitled to deduct the ordinary and necessary expenses involved with owning the property (e.g.: advertising, cleaning, commissions, insurance, repairs, taxes, utilities, etc.)
BUSINESS
March 19, 1996
Members of the Maryland Association of Certified Public Accountants are answering readers' tax questions through April 15.Q: If you buy a personal computer and printer for your home based business, what kind of tax deduction or depreciation can you claim? What about software?A: If a computer and associated hardware are used exclusively in a qualified office in a residence (defined in code Sec. 280) and assuming business use is more than 50 percent, the taxpayer can depreciate the computer using the MACRS (Modified Accelerated Cost Recovery System)
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