Business briefs, Nov. 28-Dec. 1 | ParkRecord.com

Business briefs, Nov. 28-Dec. 1

PR,

Summit Sotheby’s acquires SLC realty firm

Summit Sotheby’s International Realty has acquired Kirkham Real Estate in Salt Lake City, the company announced in a press release. Kirkham Real Estate opened in 1995 and now has more than 30 agents. "Today, we strengthen our presence in the Salt Lake market with the acquisition of Kirkham Real Estate, a local boutique brokerage with 20 years of local expertise," said Thomas Wright, president and principal broker of Summit Sotheby’s, in the release. "Our brand values and their brand values are a fantastic fit. We are excited to combine our family and network with theirs."

Westgate Resort earns elite designation

The Westgate Park City Resort & Spa has received a AAA Four Diamond rating, the first time the resort has earned the designation. According to a press release, AAA reserves the rating for hotels that provide personalized experiences, with wide-ranging amenities and guest services. "It is a great honor for our team’s hard work over the past several years to be recognized by such a well-established industry brand like AAA," said David Siegel, president and CEO of Westgate Resorts, in the release. "I am very proud of my Westgate Park City team that has gone above and beyond to make this possible, and will use this as motivation to continue to push ourselves to exceed our guests’ expectations."

IRS raises expensing threshold for small businesses

The IRS has raised the safe harbor threshold for deducting certain capital items from $500 to $2,500. According to a press release, the change "applies to amounts spent to acquire, produce or improve tangible property that would normally qualify as a capital item." More details about the change can be found at irs.gov.