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" In the case of a taxpayer engaged in a trade or business in which both personal services and capital are material income-producing factors... "
Internal Revenue Cumulative Bulletin - Page 524
by United States. Internal Revenue Service - 1981
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Regulations 65 Relating to the Income Tax Under the Revenue Act of 1924

United States. Internal Revenue Service - 1924 - 363 pages
...received as compensation for personal services actually rendered. In the case of a taxpayer engaged in a trade or business in which both personal services and capital are material income-producing factors, a reasonable allowance in compensation for the personal services actually rendered by the taxpayer...
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Questions and Answers on Federal Tax Laws: Based on Revenue Act of 1924 and ...

Irving Bank-Columbia Trust Company - 1925 - 143 pages
...whose salary is $20,000, may treat only $10,000 as earned income. Where a taxpayer is engaged in a trade or business in which both personal services and capital are material income-producing factors (for example, a merchant), a reasonable allowance as compensation for the services he actually performs,...
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Report of the Joint Committee on Internal Revenue Taxation

United States. Congress. Joint Committee on Internal Revenue Taxation - 1927
...recommendation is made. Section 209 (a) (1) is quoted in part as follows: In the case of a taxpayer engaged in a trade or business in which both personal services and capital are material income-producing factors, a reasonable allowance for the personal services actually rendered by the taxpayer, not in excess of...
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Reports of the U.S. Board of Tax Appeals, Volume 7

United States. Board of Tax Appeals - 1928
...received as compensation for personal services actually rendered. In the case of a taxpayer encased in a trade or business In which both personal services and capital are material income-producing factors, a reasonable allowance In compensation for personal services actually rendered by the taxpayer shall...
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Regulations 74 Relating to the Income Tax Under the Revenue Act of 1928

United States. Internal Revenue Service - 1931 - 491 pages
...received as compensation for personal services actually rendered. In the case of a taxpayer engaged in a trade or business in which both personal services and capital are material income-producing factors, a reasonable allowance as compensation for the personal services actually rendered by the taxpayer...
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Statistics of Income

United States. Internal Revenue Service - 1931
...actually rendered, or an amount not ¡n excess of 20 per cent of the net profits derived by you from a trade or business in which both personal services and capital are material income-producing factors. Items 32 end 51 will be 25 per cent of item 31, or 25 per cent of the sum of Items 30, 44, 45, and...
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Trade Promotion Series, Issue 147

1933
...a reasonable allowance for the personal services actually rendered. If the taxpayer is engaged in a trade or business in which both personal services and capital are material income-producing factors, he may consider as earned income a reasonable allowance for the personal services actually rendered...
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Regulations 86 Relating to the Income Tax Under the Revenue Act of 1934

United States. Bureau of Internal Revenue, United States. Internal Revenue Service - 1935 - 466 pages
...as earned income in the separate return of the other spouse. In the case of a taxpayer engaged in a trade or business in which both personal services and capital are material income-producing factors, a reasonable allowance as compensation for the personal services actually rendered by the taxpayer...
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Regulations 94 Relating to the Income Tax Under the Revenue Act of 1936

United States. Bureau of Internal Revenue, United States. Internal Revenue Service - 1936 - 566 pages
...as earned income in the separate return of the other spouse. In the case of a taxpayer engaged in a trade or business in which both personal services and capital are material income-producing factors, a reasonable allowance as compensation for the personal services actually rendered by the taxpayer...
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Compilation of the social security laws. 1968

United States - 1939
...case of an individual who is an employee within the meaning of paragraph (1) and who is engaged hi a trade or business in which both personal services and capital are material income-producing factors and with respect to which the individual actually renders personal services on a full-time, or substantially...
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