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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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Federal Income Tax Problems --1922

Emerson Emanuel Rossmoore - 1922 - 592 pages
...is illustrative of individuals, the same principle applies in the ease of corporations. REFERENCES : Sec. 234 (a) : "That in computing the net income of...section 230, there shall be allowed as deductions: ... (3) Taxes paid or accrued within the taxable year except . . . (b) so much of the income, war-profits...
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Official Opinions of the Attorneys General of the United States ..., Volume 32

United States. Department of Justice - 1922 - 708 pages
...discovery value." Section 234 (a) (9) of the Act of February 24, 1919, (40 Stat. 1077, 1078), 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 4

United States - 1922 - 1028 pages
...sections 243 or 246) in the manner provided in section 217. SEC. 234. Deductions allowed corporations, (a) That in computing the net income of a corporation subject to the tax imposed by section 2oO there shall be allowed as deductions : (1) All the ordinary and necessary expenses paid or incurred...
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Comparison of the Revenue Acts of 1918 and 1921: With Index ...

United States. Congress. House. Committee on Ways and Means - 1923 - 256 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 a...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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Practical Questions and Answers on the Federal Tax Laws Affecting Individual ...

Irving Bank. Columbia Trust Company - 1923 - 148 pages
...imposed by sections 243 or 246) in the manner provided in section 217. DEDUCTIONS ALLOWED CORPORATIONS 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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Accounting Principles Underlying Federal Income Taxes: 1924

Eric Louis Kohler - 1924 - 514 pages
...imposed by section 243 or 246) in the manner provided in section 217. DEDUCTIONS ALLOWED CORPORATIONS Sec. 234. (a) That in computing the net income of...section 230 there shall be allowed as deductions: for personal services actually rendered, and including rentals or other payments required to be made...
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American Federal Tax Reports, Volume 5

1927 - 1150 pages
...of the Revenue Act of 1918 (Comp. St. Ann. Supp. 1919, § 6336V8pp) provides, in part, as follows: "(a) 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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Regulations 65 Relating to the Income Tax Under the Revenue Act of 1924

United States. Internal Revenue Service - 1924 - 396 pages
...insurance companies, see article 687. See also article 541. DEDUCTIONS ALLOWED CORPORATIONS SEC. 234. (a) In computing the net income of a corporation subject...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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The Federal Reporter

1925 - 1112 pages
...term. Section 234 (a) of the Revenue Act of 1918 (Сотр. St. Ann. Supp. 1919, § 6336Vspp) 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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C.P.A. Law Questions (of the Board of Examiners, American Institute of ...

American Institute of Certified Public Accountants. Board of Examiners, John Charles Teevan - 1925 - 238 pages
...these items are deductible is provided for in Section 234 (a) of the Revenue Act of 1918, as follows : That in computing the net income of a corporation...Section 230, there shall be allowed as deductions : (1) . . . . Including a reasonable allowance for salaries and other compensation for personal services...
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