it. If the taxpayers in this situation were forced to deduct their rental payments on a prorated basis ... in the timing of deductions. Under the prorated system the taxpayers could only deduct 1 12 of their rental ... between the prorated deduction system and the one year rule for the first and last year of the lease ... more details
be prorated. Determine the daily amount of a monthly charge being prorated by dividing it by the number ... amount is 1.00 30 30 days 1.00 . Determine the number of prorated days. The monthly service charges ... there are 10 prorated days. Multiply the daily amount by the number of days being prorated. This gives you the total prorated amount. Example 1.00 x 10 days 10. See also Employee Retirement Income Security ... more details
Unreferenced date April 2008 Orphan date April 2008 Return of premium life insurance is a type of term life insurance insurance policy policy . The concept is that the policy returns the premiums you have paid for coverage over that fixed term period if coverage is never used. For instance, a 1 million policy bought for 50000 over a 30 year period would result in the 50000 being refunded to the policyholder. Critics point to the rate of return being less than in a typical investment, as well as the extra cost of the policy compared to basic term life insurance policies. Also, if the policy is cancelled at any time, no money is refunded. While this was the original concept, many current policies do allow prorated refunds at some point during the life of the policy. External links http www.usnews.com usnews biztech articles 041025 25insurance.htm Leonard Wiener Return of premium term life insurance policies reward you for staying alive Category Life insurance Econ stub ... more details
In insurance , an adjustment clause in a contract specifies how the amount of a Claim legal claim particularly a claim against an insurance company will be determined for the purposes of a settlement, giving consideration to objections made by the debtor or insurance company, as well as the allegations of the claimant in support of his claim. For example In fire insurance , an adjustment clause provides that in the event of loss or damage at any location mentioned in the policy, the amount of insurance in force at that location shall be prorated to the burned and unburned portions of the property. Also known as a burned and unburned clause . ref Indiana Lumbermen s Mutual Ins. Co. v Fair CA5 Miss 109 F2d 607. ref In life insurance , an age adjustment clause specifies that if the age of the insured has been understated, the amount payable upon his death shall be that amount which the premium charged would have purchased for the insured s correct age. Adjustment of claims is not confined to claims against insurance companies. An allowance made by a creditor, particularly a Retailing storekeeper , in response to a complaint by the debtor respecting the accuracy of the account or other claim, or a reduction in the claim or account made to induce a prompt payment, is in a proper sense an adjustment. ref 29A Am J Rev ed Ins 1604. ref References references DEFAULTSORT Adjustment Clause Category Insurance terms law term stub ... more details
Unreferenced date December 2009 Blades is a fictional, private club located in Park Street, Mayfair in central London in Ian Fleming s James Bond novels. Described as the most exclusive club in all of London, it allows gambling, mainly high stakes card games, but is more celebrated for its gourmet catering. Membership is limited to 200 prospective members must show a net worth of at least British pound 100,000, in cash or gilt edged securities, and exhibit appropriate gentlemanly behavior before they can be considered for admission. It is believed to have been based on Boodle s , a club of which Fleming was a member, though Boodle s itself is mentioned in the novel Moonraker novel Moonraker . Members are required to win or lose at least 500 per year at the tables, or else pay a fine of 250. Only freshly minted coins and notes are paid out as winnings and change. In addition, when members stay at the club overnight, their cash and change are taken away in the morning and replaced with new money. According to Moonraker , no bills are ever presented for meals these costs are pro rata prorated among each week s winners and deducted from their profits. However, The Man with the Golden Gun novel The Man with the Golden Gun contradicts this statement with a passage in which M James Bond M returns from lunch at the club, having paid with a 5 note in order to receive new money as change. Known members of the club have included Sir Hugo Drax in Moonraker novel Moonraker , Auric Goldfinger as mentioned by M in Goldfinger novel Goldfinger and M. The Chairman of Blades is Lord Basildon. M regularly lunches at Blades and occasionally dines there. James Bond is an occasional guest at the club of his boss. In the James Bond film Die Another Day , 007 confronts villain Gustav Graves in the fencing room of a London private gentlemen s club, though references to this being called appropriately Blades were dropped from the final film. In Frederick Forsyth s novel The Day of the Jackal ... more details
Orphan date February 2009 Refimprove date December 2007 Commissioner v. Boylston Market Association , 131 F.3d 966 1st Cir. 1942 Issues Whether a cash method taxpayer is limited to the deduction of insurance premiums actually paid in any year or whether he should deduct each year the pro rata portion of the prepaid insurance attributable to that year? Facts The Cash Method v. Accrual Method cash method taxpayer had a business in which he owned and managed real estate . The taxpayer would purchase insurance policies covering periods of three or more years. The taxpayer would then deduct each year an insurance expense in the amount of insurance premium applicable to carrying insurance for that year regardless of the year in which the premium was actually paid. Analysis In Welch v. De Blois , 1 Cir., 1938, 94 F.2d 842, this court allowed a cash method taxpayer to make a full deduction of insurance premium s in the year he paid them as an ordinary and necessary business expense, despite the fact that the insurance covered a three year period. However, this court is unable to find a basis for distinguishing the prepayment of rentals, bonuses for the acquisition of leases, bonuses for the cancellation of leases, commissions for negotiating leases all of which need to be prorated over the time period and prepaid insurance. This court can cite no justification for treating prepaid insurance in a different manner than treating other prepayments. To permit the taxpayer to take a full deduction in the year of payment would distort his income. Moreover, prepaid insurance may be easily allocable. The insurance premium represents the protection of the property for the entire period, and the taxpayer may surrender the insurance policy at any time. Therefore, the insurance is clearly an asset having a longer life than a single taxable year. ref Treasury Regulation 1.461 1 a 1 . If an expenditure results in the creation of an asset having a useful life which extends substantially be ... more details
Sir Thomas Willys, 1st Baronet c. 1614 17 November 1701 of Fen Ditton in Cambridgeshire , was a Parliament of England Member of Parliament for Cambridgeshire and Cambridge. ref The surname also appears as Willis harv Cokayne 1902 pp 148 , and Wyllys ref He was also Sheriff of Cambridgeshire and Huntingdonshire. Biography Willys was born about 1614, ref harvnb Cokayne 1902 p 148 notes he aged about 72 at the Her. Visit, of Cambridgeshire, 1684 ref He was the son and heir of his father Richard Willys and succeeded to his estates on 16 October 1628. sfn Cokayne 1902 p 148 Willys was created Willys Baronets Baronet of Fen Ditton by Charles I of England Charles I on 15 December 1641. ref harvnb Cokayne 1902 pp 148 notes that the patent is not enrolled. The date here given is that in Dugdale s Catalogue. See Memorandum on p. 84. In an dafter May 1641 down to the end of the reign of Charles I the enrolment of any patent was the exception ... . The date of the signet bill is 13 December 1641. ref He was Cambridgeshire UK Parliament constituency M.P. for Cambridgeshire in 1659 and for Cambridge UK Parliament constituency Cambridge in 1660. From 1665 to 1666 he was Sheriff of Cambridgeshire and Huntingdonshire . sfn Cokayne 1902 pp 148 Willys died on 17 November 1701. His will was dated 13 and prorated on 25 November 1701. Family Sir Thomas was son and heir of Richard Willys, of Fen Ditton and Horningsey, Cambridgeshire, by Jane, daughter and heir of William Henmaesh, of Balls, in Ware, Hertfordshire. He was the elder brother of Sir Richard Willis spy Robert who was an officer in the Royalist Army during the English Civil War Civil War but was shunned by the court after the Restoration England Restoration for working as a double agent for Oliver Cromwell during the Interregnum England Interregnum . sfn Cokayne 1902 pp 148,234,235 Around 1633 Sir Thomas married Anne first daughter and coheir of Sir John Wyld, of Mystole and of St. Martin s, Canterbury, Kent, by Anne, daughter ... more details
Terminal railway post offices were sorting facilities which were established by the Railway Mail Service to speed the distribution of parcel post . These offices were usually located in or near railroad stations in major cities or junction points. Terminal railway post offices operated generally from 1913 1914 into the mid 1960s, before their function was absorbed by post office sectional centers. History On January 1, 1913, the United States Post Office began handling parcel post , in addition to letters and more conventional mail. This service, which was in direct competition with the privately owned express companies, was quickly embraced by the general public, and over two million packages were mailed in the first week after parcel post service began. ref Railway Age Gazette Vol. 54, No. 3 January 7, 1913, p117. ref Terminal Railway Post Offices Term RPO were started in nearly 100 cities in late 1913 and 1914, primarily to help handle the increase in volume of parcel post which was overwhelming the main transportation system. These terminals also came to distribute transit parcel post, circulars, magazines, and papers. Letter cases were used at many terminals to take care of advance work or unworked letters from Railway Post Office RPO routes, while a few terminals handled parcel post almost exclusively. The largest terminal railway post office was the Penn Terminal in the G.P.O. Building in New York City, New York in 1951, it had over 1,100 clerks. Penn Terminal handled advance work for many of the railway post office routes leaving New York City. By comparison, the West Side Terminal, located along the New York Central line near the Hudson River piers, handled parcel post almost exclusively. Because parcel post transportation was generally by rail, most terminal RPOs were housed in or adjacent to the railroad station. Where mails for more than one state were distributed, the state rights of the assignments were prorated. If one fourth of the mail distributed a ... more details
Globalize USA date December 2010 Refimprove date March 2009 In commercial real estate, a net lease requires the leasehold estate tenant to pay, in addition to Renting rent , some or all of the property expenses which normally would be paid by the property owner known as the landlord or lessor . These include expenses such as real estate taxes, insurance, maintenance, repairs, utilities and other items. ref Principles and Practices of New Jersey Real Estate 6th Ed by Frank W. Kovats, DREI. ref TOC right The precise items that are to be paid by the tenant are usually specified in a written lease . For properties that are leased by more than one tenant, such as a shopping center , the expenses that are passed through to the tenants are usually prorated among the tenants based on the size square footage of the area occupied by each tenant. The term net Lease is distinguished from the term gross lease . In a net lease, the property owner receives the rent net after the expenses that are to be passed through to tenants are paid. In a gross lease, the tenant pays a gross amount of rent, which the landlord can use to pay expenses or in any other way as the landlord sees fit. Types of net leases There are standard names in the commercial real estate industry for different sets of costs passed on to the tenant in a net lease. Single net lease In a single net lease sometimes shortened to Net or N , the lessee or tenant is responsible for paying property tax es as well as the base rent. Double and triple net lease s are more common forms of net leases because all or the majority of the expense s are passed on the tenant . ref cite web title What You Need to Know to Invest in Single tenant, Net leased Properties url http www.calkain.com nnn net lease 101.php publisher Calkain Companies, Inc. author Hipp, Jonathan W. date 2008 11 28 ref Double net lease In a double net lease Net Net or NN the lessee or tenant is responsible for real estate taxes and building insurance. The lessor ... more details
Fellows are eligible for up to two calendar years of support with a maximum stipend of 24,000 prorated ... calendar years of support with a maximum stipend of 24,000 prorated over the period of study. ref ... more details
Football club infobox clubname Torpedo Zaporizhya image Image FC torpedo zaporizhzhya.png 120px Torpedo Zaporizhya fullname FC Torpedo Zaporizhya nickname Automobilists , Automakers founded 1982 ground JSC ZAZ Stadium AutoZAZ Arena capacity 15,000 chairman Image Flag of Ukraine.svg 20px Ukraine mgrtitle Head Coach manager Image Flag of Ukraine.svg 20px Ukraine league Ukrainian Premier League season position FC Torpedo Zaporizhya is a former professional football soccer football team based in Zaporizhya , Ukraine . Founded in 1982, the club appeared played in the Ukrainian Premier League from 1992 through 1998, after being initially chosen to participate for being one of the top 9 of 11 Ukrainian teams from the West Division of the Soviet Second League in 1991. Torpedo Zaporizhya s best achievement in the Ukrainian Premier League was 7th place trice, in Ukrainian Premier League 1992 1992 prorated , Ukrainian Premier League 1994 95 1994 95 , and Ukrainian Premier League 1995 96 1995 96 . The club has successfully competing in the domestic cup competition in early years being eliminated only in semi finals twice in a row and reaching the best of eight the next year. Following relegation during the Ukrainian Premier League 1997 98 1997 98 season , Torpedo Zaporizhya competed successfully in the Ukrainian First League , taking third place and achieving promotion back to the Ukrainian Premier League . However despite this finish, the club applied for bankruptcy following the conclusion of the Ukrainian First League 1998 99 1998 99 season and were suspended by the Ukrainian Football Association. The club returned to the Ukrainian Second League in 2002 and 2003, but was relegated to the amateur league thereafter. FC Torpedo Zaporizhya played its games at the JSC ZAZ Stadium AutoZAZ Stadium with maximum capacity of 15,000. Colours are white shirts, blue shorts. League and cup history flagicon Soviet Union Soviet Union class wikitable bgcolor efefef Season Div. Pos. Pl. W D L ... more details
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