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" That in computing net income there shall be allowed as deductions: (1) All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, including a reasonable allowance for salaries or other compensation... "
Regulations 45 Relating to the Income Tax and War Profits and Excess Profits ... - Page 50
by United States. Bureau of Internal Revenue - 1920 - 335 pages
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Cases Decided in the Court of Claims of the United States, Volume 67

United States. Court of Claims - 1929 - 762 pages
...1921, $23,333.32. Section 214 (a) of the revenue acts of 1918 and 1921 provides in part as follows : " That in computing net income there shall be allowed...including a reasonable allowance for salaries or other compensation for personal services actually rendered." Article 105 of Treasury Regulations #45 and...
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Cases Decided in the Court of Claims of the United States, Volume 66

United States. Court of Claims - 1929 - 868 pages
...254, " That in computing the net income of a corporation subject to the tax imposed by section 230 there shall be allowed as deductions : "(1) All the...including a reasonable allowance for salaries or other compensation for personal services actually rendered * * *." Opinion of the Court The same provision...
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Cases Decided in the United States Court of Claims ... with ..., Volume 132

United States. Court of Claims, Audrey Bernhardt - 1955 - 936 pages
...as a deduction, "All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, including a reasonable...compensation for personal services actually rendered," and concluded that, "In the circumstances the deductions claimed for compensation of officers and certain...
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Cases Decided in the Court of Claims of the United States, Volume 80

United States. Court of Claims - 1936 - 940 pages
...deduction for " all the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, including a reasonable allowance for salaries or other compensation for personal services actually rendered, * * *." The reasonableness of the compensation...
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Income Tax Law: Analysis and Comment

Harris, Forbes & co., New York - 1919 - 164 pages
...representing profits on the manufacture and disposition of goods within the United States. Deductions Allowed. Sec. 214. (a) That in computing net income there shall...in carrying on any trade or business, including a reason, able allowance for salaries or other compensation for personal services [actually rendered,...
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Federal Taxes: Complete Digest of the Revenue Law, Fixing the Rates for 1918 ...

Ewell D. Moore - 1919 - 44 pages
...INCOME. (Sec. 214). 1. All ordinary and necessary expenses paid or incurred during the taxable year in any trade or business, including a reasonable allowance...rendered, and including rentals or other payments necessary to the continued use or possession for the business or trade of property to which the taxpayer...
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Federal Income Tax, War-profits and Excess-profits Taxes: Including Stamp ...

George Edwin Holmes - 1919 - 1052 pages
...234. (a) That in computing the net income of a corporation subject to the tax imposed by section 2'!0 there shall be allowed as deductions: (1) All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, ineluding a reasonable allowance...
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Acts of the General Assembly of the State of Alabama

Alabama - 1919 - 1476 pages
...as deductions: (1) All ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, including a reasonable allowance for salaries and other compensation for personal services actually rendered, and including rentals or other payments...
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Federal Income Tax, War-profits and Excess-profits Taxes: Including Stamp ...

George Edwin Holmes - 1920 - 1186 pages
...representing profits on the manufacture and disposition of goods within the United States. DEDUCTIONS ALLOWED Sec. 214. (a) That in computing net income there shall...carrying on any trade or business, including a reasonable allowancp for salaries or other compensation for personal services actually rendered, and including...
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The Federal Statutes Annotated: Containing All the Laws of the ..., Volume 2

United States - 1920 - 1054 pages
...July 17, 1916, mentioned in the text, see 1918 Supp. Fed, Btat. Ann. 14. SEC. 214. Deductions allowed, (a) That in computing net income there shall be allowed...trade or business, including a reasonable allowance for salarie? or other compensation for personal services actually rendered, and including rentals or...
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