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ent000854-177
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I agree.immiiimiiim -4- ?╟≤"Messing and Apt CERTIFIED PUBLIC ACCOUNTANTS (TENANT) WHO DOES IT BENEFIT 1. - Deluxe apartment or hotel suite located on or adjacent to Sands Hotel Property to be serviced by Sands Hotel (by invite only) - las Vegas Address *??- Sands Hotel. 2. - U3e of all of Sands Hotel Facilities 3. - Large closet with built-in wardrobe to house under lock and key all clothing and equipment to be maintained in Apartment. (Make it convenient for this tenant to come to Las Vegas.) 4. - SPECIAL TAX FEATURES; Of particular interest and appeal to the tenant are the financial and tax benefits of the re-lsase arrangement to the Sands Hotel. a. Since they are re-leasing their apartment to the Sands Hotel for income this becomes a business venture and the entire* annual lease rental becomes a tax deduction. (* except for that portion of the pro-rata days occupied over 3^5 days of the cost of the lease.) b. Income received from re-lease to Sands Hotel is taxable. Therefore if rental income is less than annual lease, the cost is tax deduction. if rental income is greater than annual lease, the net income is taxable. c. This means that in effect your customer gets a tax deduction for his room cost in las Vegas, which to anff individual in an upper bracket is not bad.