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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... "
Reports of the Tax Court of the United States - Page 5
by United States. Tax Court - 1952
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United States Reports: Cases Adjudged in the Supreme Court at ..., Volume 343

United States. Supreme Court, John Chandler Bancroft Davis, Henry Putzel, Henry C. Lind, Frank D. Wagner - 1952 - 1030 pages
...INCOME. "In computing net income there shall be allowed as deductions: "(a) EXPENSES. — "(1) TRADE OR BUSINESS EXPENSES. — "(A) In General. — All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business . . . ." 53 Stat. 12, 56 Stat,...
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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
...Income. In computing net income there shall be allowed as deductions : ^a) Expenses. — (1) Trade or Business Expenses. — (A) In General. — All the...including a reasonable allowance for salaries or other compensation for personal services actually rendered; * * * The pertinent part of Treasury Regulations...
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Cases Decided in the United States Court of Claims ... with ..., Volume 138

United States. Court of Claims, Audrey Bernhardt - 1958 - 966 pages
...expense under section 23(a)(l)(A) of the 1939 Internal Revenue Code, which provides in part, as follows : In General. — All the ordinary and necessary expenses...including a reasonable allowance for salaries or other compensation for personal services actually rendered; * * *. We agree with defendant's contention....
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Cases Decided in the United States Court of Claims ... with ..., Volume 131

United States. Court of Claims, Audrey Bernhardt - 1955 - 908 pages
...gross Income. In computing net Income there nhali be allowed as deductions: (a) Expenses. (1) Trade or business expenses. (A) In general. All the ordinary...trade or business, Including a reasonable allowance for * * • payments required to be made as a condition to the continued use or possession, for purposes...
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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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Canada; Economic Position and Plans for Development

Guaranty Trust Company of New York - 1919 - 664 pages
...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 for personal services actually rendered, and including rentals or other payments required...
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Taxation of Corporations and Personal Income in New York

Henry Montefiore Powell - 1919 - 708 pages
...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 for personal services actually rendered, and including rentals or other payments required...
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Federal Income Tax, War-profits and Excess-profits Taxes: Including Stamp ...

George Edwin Holmes - 1919 - 1048 pages
...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 for personal services actually rendered, and including rentals or other payments required...
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Prentice-Hall Tax Service for 1919, Issues 1-32

Prentice-Hall Inc, Prentice-Hall, inc - 1919 - 428 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 or other compensation for personal services actually rendered, and including rentals or other payments required...
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United States Revenue Act, 1918: Annotated and Indexed. Passed, 1919 ...

National City Company, United States - 1919 - 104 pages
...deductions : 149. (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 for personal services actually rendered, and including rentals or other payments required...
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