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" 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... "
Cases Decided in the United States Court of Claims - Page 146
by United States. Court of Claims - 1938
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The Federal Reporter

1925
...term. Section 234 (a) of the Revenue Act of 1918 (Сотр. St Ann. Supp. 1919, 6336y8pp) provides that "in computing the net income of a corporation...section 230 there shall be allowed as deductions: (7) A reasonable allowance for the exhaustion, wear and tear of property used in the trade...
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Federal Income Tax, War-profits and Excess-profits Taxes: Including Stamp ...

George Edwin Holmes - 1919 - 1023 pages
...representing profits on the manufacture and disposition of goods within the United States. DEDUCTIONS ALLOWED Sec. 234. (a) That in computing the net income of...tax imposed by section 230 there shall be allowed :1s deductions: (10) In the case of insurance companies, in addition to the above: (a) The net addition...
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Canada; Economic Position and Plans for Development

Guaranty Trust Company of New York - 1919 - 30 pages
...premiums collected and received by them less amounts paid for reinsurance. DEDUCTIONS ALLOWED SEC. 234.(a) That in computing the net income of a corporation...section 230 there shall be allowed as deductions: (1) All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on...
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Income Tax Law: Analysis and Comment

Harris, Forbes & co., New York - 1919 - 153 pages
...Business Expenses Deductions Allowed. Sec. 234. (a) That in computing the net income of a corporatio subject to the tax imposed by section 230 there shall be allowed as d< ductions : (1) All the ordinary and necessary expenses paid or incurred dm ing the taxable year...
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Federal Income Tax, War-profits and Excess-profits Taxes: Including Stamp ...

George Edwin Holmes - 1920 - 1151 pages
...representing profits on the manufacture and disposition of goods within the United States. DEDUCTIONS ALLOWED Sec. 234. (a) That in computing the net income of...section 230 there shall be allowed as deductions: (1) All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on...
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Pamphlets, Volume 35

Irving National Bank, New York - 1920
...representing profits on the manufacture and disposition of goods within the United States. Deductions Allowed. Sec. 234. (a) That in computing the net income of...section 230 there shall be allowed as deductions: (1) All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on...
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Regulations 45 Relating to the Income Tax and War Profits and Excess Profits ...

United States. Office of Internal Revenue - 1920 - 335 pages
...branch or agency of a foreign insurance company mist be returned as gross income. DEDUCTIONS ALLOWED. SEC. 234. (a) That in computing the net income of...section 230 there shall be allowed as deductions: (1) All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on...
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Federal Income Tax and Its Relation to Real Property

Real Estate Board of New York - 1920 - 96 pages
...the term "gross income" means the gross income as denned in section 213 Deductions Allowed 11 Law Sec. 234. (a) That in computing the net income of...by section 230 there shall be allowed as deductions : ' (1) All the ordinary and necessary expenses paid or incurred during the taxable year in carrying...
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Journal of Accountancy, Volume 30

1920
...a portion of such discovery value." Section 234 (a) (9) of the act of February 24, 1919, provides: (a) That in computing the net income of a corporation...by section 230 there shall be allowed as deductions : (9) In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance...
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The Federal Statutes Annotated: Containing All the Laws of the United States ...

United States - 1920
...and disposition of goods within the United States. [40 Stat. L. 1077.] Sue. 234. Deductions allowed, (a) That in computing the net income of a corporation...by section 230 there shall be allowed as deductions : (1) Л11 the ordinary and necessary expenses paid or incurred during the taxable year in carrying...
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