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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 Court of Claims of the United States - Page 146
by United States. Court of Claims - 1938
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Journal of Accountancy, Volume 30

1920 - 502 pages
...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 ..., Volume 2

United States - 1920 - 1054 pages
...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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Public Accounting and Auditing...

John F. Sherwood - 1920 - 272 pages
...ascertained to be worthless and charged off within the taxable year." Section 234. (a) [Corporations] "That in computing the net income of a corporation...Section 230, there shall be allowed as deductions: (5). "Debts ascertained to be worthless and charged off within the taxable year." (*TD 2433, January...
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Philippine Islands: Acts of Congress and Treaties Pertaining to the ...

United States - 1920 - 200 pages
...Corporations. DEDUCTIONS ALLOWED. Deduction* SEC. 234. (a) That in computing the net income of aofDeslsnation corporation subject to the tax imposed by section 230 there shall be allowed as deductions: ***** (3) Taxes paid or accrued within the taxable year im- Domestic posed (a) by the authority of...
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Internal Revenue Laws in Force May 1, 1920: With an Appendix Containing Laws ...

United States - 1920 - 1052 pages
...within the United States. Deductions ai- SEC. 234. (a) That in computing the net income of a lowed. of the internal-revenue taxes now imposed thereon by law, the following taxes, to be paid Expenses. (i) All the ordinary and necessary expenses paid or incurred during the taxable year in carrying...
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Internal Revenue Laws in Force: With an Appendix Containing Laws of a ...

United States - 1920 - 1064 pages
...within the United States. Deductions ai- SEC. 234. (a) 'That in computing the net income of a Iowed" t, refund, and pay back all taxes erroneously or illegally assessed or collected, (i) All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on...
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Cumulative Bulletin ... Income Tax Rulings, Issues 4-5

United States. Bureau of Internal Revenue - 1921 - 772 pages
...in other provisions of the statute. Section '234 (a) of the Revenue Act of 1918 further provides : That in computing the net income of a corporation...* (4) Losses sustained during the taxable year and not compensated for by insurance or otherwise. Section 232 of the Revenue Act of 1918 provides : That...
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Regulations 45 (1920 Ed.) Relating to the Income Tax and War Profits and ...

United States. Internal Revenue Service - 1921 - 348 pages
...branch or agency of a foreign insurance company must be returned as gross income. DEDUCTIONS ALLOWED. 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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Cumulative Bulletin ... Income Tax Rulings, Volume 2

United States. Bureau of Internal Revenue - 1921 - 778 pages
...within the taxable year to reserve funds. Section 234 (a) of the Revenue Act of 1918 provides: Thnt in computing the net income of a corporation subject to- the tax imposed by section liHO there shall be allowed as deductions: * * * (10)' In the case of insurance companies, * * *: (a)...
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The Income and Other Federal Taxes as Affected by Patents, Trade-marks ...

Rex Frye - 1921 - 350 pages
...-.T -1,1 • n -,1-ji corporations. SEC. 234. (a) That in computing the net income of a Dedllctlons corporation subject to the tax imposed by section 230 there shall be allowed as deductions: Interest paid or accrued. Taxes paid or accrued. Losses. not taken or is not taking title, or in which...
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