Katrina cottage n.— «Earlier this year, the group’s board of directors decided to build what are commonly called “Katrina Cottages” to house the visiting artists. The small wooden homes were originally designed to be...
old and cold rule n.— «If you plan to use the vacation home as the relinquished property, do not use it personally for at least two years, and two tax returns. The IRS has adopted what is known as the “old and cold” rule. If...