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Fair Market Value

BUSINESS
By Andrew Leckey | October 19, 2008
Q: What kind of deduction can you take for donating stock to a charity? - M.I., via the Internet A: If the stock has increased in value since you bought it, you can avoid paying capital gains tax by donating it. If the security is being donated to a charitable organization, the total amount will still be eligible for a tax deduction based on the fair market value of the stock. "There's an advantage to donating stock instead of cash so long as it is a stock you've owned for a year or more and you have a gain," said Mike Busch of Vogel Financial Advisors.
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NEWS
By MIKE FARABAUGH and MIKE FARABAUGH,SUN STAFF | December 26, 1999
A Westminster businessman is suing a competing outdoor advertising company, alleging he was medically incompetent to conduct business last year when he sold 96 billboards for $2.1 million, a price he contends was well under the fair market value.In a civil lawsuit filed last week in Carroll County Circuit Court, plaintiff Scott S. Bair, owner of Bair Outdoor Advertising Co., asked the court to rescind his contract with PNE Media LLC of Union, N.J. Bair contends that PNE pressured him to sell.
BUSINESS
July 17, 2005
Q: An 87-year-old owner of a $72 ground rent on property in Baltimore writes that she has received "much mail" about the ground rent from the city's Real Estate Department during "the last year or so." She complains that she has "not collected any ground rent or been paid for my ground rent" and asks me to review some of the papers the city sent her and advise if the city's actions are legal. A: The reason you haven't been receiving ground rent is that the city acquired title and possession to your property months ago by a court proceeding.
NEWS
By Caitlin Francke and Caitlin Francke,SUN STAFF | March 21, 2002
City officials said yesterday that they have drafted a contract that would charge the Baltimore Ravens $125,000 a year to lease the team's city-owned training site -- up from $1 a year. City Solicitor Thurman W. Zollicoffer Jr. said the Ravens have agreed verbally to the deal but have not signed the two-year lease. The team will likely use the Owings Mills site until they construct a proposed facility in that area, he said. "We'll see if they sign it or not," he said. Ravens owner David Modell could not be reached for comment.
BUSINESS
March 20, 1998
Members of the Maryland Association of Certified Public Accountants are answering readers' tax questions through April 15.Q: Last year I donated some stock to a charity. How do I claim that on my 1040 form?A: Contributions of noncash assets to charity are deducted on Form 1040, Schedule A, line 16. Generally, the amount of the contribution you will be entitled to deduct will equal the fair market value of the stock as of the contribution date. However, if the stock has appreciated, certain additional restrictions will apply.
NEWS
By JOHN-JOHN WILLIAMS IV and JOHN-JOHN WILLIAMS IV,SUN REPORTER | August 9, 2006
A six-member jury is expected to determine this week the amount of money that the Howard County school system must pay a developer to use his land for an Ellicott City elementary school. Monday's opening of the trial, including a tour of the site by the jury, was the latest step in a drawn-out dispute between the school system and J. Chris Pippen, who owns 1.3 acres on Montgomery Road across from Long Gate shopping center. The school system wanted to purchase the land from Pippen to provide an access road to the school, which is scheduled to open in August 2007.
NEWS
By Laura Vozzella and Laura Vozzella,SUN STAFF | April 28, 2004
Villa Julie College has been talking with Baltimore officials about buying the city-owned facility where the Ravens practice after the pro football team moves to new quarters, city and school officials said yesterday. Discussions have been going on for about a year and formal negotiations are expected to begin soon, officials said. Comptroller Joan M. Pratt said the city recently told school officials what it believes is the fair-market value of the 40-acre site in Owings Mills: about $6 million.
BUSINESS
March 15, 1994
Here are answers from members of the Maryland Association of Certified Public Accountants to readers' tax questions. The Sun will publish answers through April 15.Q: Is there a limitation on temporary housing costs of $1,500? If costs exceed that amount, is the excess amount allowed to be carried over into the subsequent year as a deductible item? Are temporary housing costs part of moving expenses?A: For years up to and including 1993, temporary housing costs incurred as job-related moving expenses are deductible, subject to certain limitations.
BUSINESS
March 18, 2001
Dear Mr. Azrael, I am one who would never want to live in some place that has a homeowners association. However, I live in Columbia and the Columbia Association poses the threat of behaving more like a homeowners association. Besides size, what are the basic differences between a homeowners association and a planned community with an association funded by a lien on homeowners' deeds? Patricia Storch Columbia Dear Ms. Storch: From a strictly legal point of view, the Columbia Association fits the definition of a homeowners association.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | July 30, 2013
French energy firm Electricite de France outlined an exit strategy Tuesday from its stake in three of Exelon's nuclear power plants, including Calvert Cliffs in Southern Maryland. Both companies disclosed that EDF has an option to sell its 49.99 percent stake in Constellation Energy Nuclear Group to Exelon - which owns the rest - for fair market value between 2016 and 2022. Constellation, bought by Exelon last year, also worked out a deal with EDF to transfer the power plants' licenses to its parent.
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