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Vacation Village was a hotel and casino located on 3 acres (1.2 ha) of land at 6711 South Las Vegas Boulevard in Enterprise, Nevada.. The Heers family initially purchased 25 acres (10 ha) of land in 1964, and planned to have a hotel and casino built on the property.
Founded in 1982, Westgate Resorts operates as a subsidiary of Central Florida Investments, Inc. (CFI), which employs over 10,000 people and has evolved into the largest privately held corporation in the Central Florida area. Siegel opened CFI, a real estate development firm, with an office located in his family garage in 1970. [citation needed]
Earl, a resident of Orlando, Florida, had been neighbors with Westgate Resorts founder David A. Siegel. Earl and Siegel began discussing a Las Vegas timeshare project in 2000, when Westgate entered the timeshare market there. After Earl's group purchased the Aladdin, discussions about a Las Vegas timeshare project became serious. [4]
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However, a taxpayer may claim limited deductions on a vacation home if the taxpayer uses the property as both a vacation home and rental property. [ 2 ] If the taxpayer uses the property for greater than 14 days or 10% of the number of days the property is rented, the taxpayer may deduct some of the property-related expenses. [ 3 ]
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