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Real estate industry

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Employee versus independent contractor classification

Article Abstract:

Real estate companies and agents can avoid tax problems by following a strict interpretation of a federal law passed in 1982 for classifying agents as independent contractors. Taxpayers prefer to be independent contractors because they have more control over their finances. Real estate agents must be licensed and salaries must directly relate to sales or other services instead of specific working hours. Services must be performed according to a written contract that also specifies an agent does not have employee status.

Real estate agents and managers, Real estate agents, Real estate agents and brokers, Independent contractors

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The treatment of hazardous materials clean-up costs

Article Abstract:

Property owners stung with the cost of cleaning up hazardous waste on acquired property under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 may also face uncertain fortune with the Internal Revenue Service. Few precedents exist to define whether or not the cost of cleanup is a deductible expense under IRS regulations. In fact, buyers are likely to find the cost of the damaged land, purchased at a bargain price, to be much more expensive in the long run.

Analysis, Toxic torts

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Forfeiture of real estate

Article Abstract:

Law enforcement agencies increasingly are using forfeiture of real property through criminal and civil litigation as a crime fighting tactic which makes it imperative that real estate owners or lenders become aware of the possibility of criminal activity by tenants or borrowers. When illegal activity by a tenant or lender is taking place or is suspected, the landlord or lender should obtain advice on what measures to take to eliminate the problem.

Laws, regulations and rules

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