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" In the case of a taxpayer engaged in a trade or business in which both personal services and capital are material income-producing factors... "
Veterans' and Survivors' Pension Improvement Act of 1978: Hearing Before the ... - Page 520
by United States. Congress. Senate. Committee on Veterans' Affairs - 1978 - 789 pages
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Regulations 65 Relating to the Income Tax Under the Revenue Act of 1924

United States. Internal Revenue Service - Income tax - 1924 - 396 pages
...the earned income of the taxpayer from such a trade or business shall, in no case, exceed 20 per cent of his share of the net profits of such trade or business. See article 106, as to what constitutes compensation for personal services. The term does not include...
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Federal Income and Estate Tax Laws: Correlated and Annotated, Being a ...

Walter Elbert Barton, United States, Carroll Wright Browning - Income tax - 1925 - 580 pages
...compensation for the personal services actually rendered by the taxpayer, not in excess of 20 per centum, of his share of the net profits of such trade or business, shall be considered as earned income. (2) The term "earned income deductions" means such deductions as are allowed by section 21433 for the...
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Revenue Revision: Hearings Before the Committee on Ways and Means, House of ...

United States. Congress. House. Committee on Ways and Means - Taxation - 1925 - 1154 pages
...compensation for the personal services actually rendered by the taxpayer not in excess of 50 per cent { 52;h! 8eignen. So wurd er ^ derholt%j = [Insert here additional provision discussed in the text above, if deemed expedient.] (3) If the taxpayer's...
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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 - Commercial law - 1925 - 238 pages
...compensation for the personal services actually rendered by the taxpayer, not in excess of 20 per centum of his share of the net profits of such trade or business, shall be considered as earned income. Each individual has a credit applicable to his normal tax representing 25 per cent of the income tax...
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Income Tax Accounting

John F. Sherwood - Income tax - 1925 - 206 pages
...compensation for the personal services actually rendered by the taxpayer, not in excess of 20 per centum of his share of the net profits of such trade or business, shall be considered as earned income. (2) The term "earned income deductions" means such deductions as are allowed by section 214 for the...
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Questions and Answers on Federal Tax Laws: Based on Revenue Act of 1924 and ...

Irving Bank-Columbia Trust Company - Income tax - 1925 - 152 pages
...compensation for the personal services actually rendered by the taxpayer, not in excess of 20 per centum of his share of the net profits of such trade or business, shall be considered as earned income. (2) The term " earned income deductions " means such deductions as are allowed by section 214 for the...
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Report of the Joint Committee on Internal Revenue Taxation, Volumes 1-3

United States. Congress. Joint Committee on Internal Revenue Taxation - Taxation - 1927 - 414 pages
...allowance for the personal services actually rendered by the taxpayer, not in excess of 20 per cent of his share of the net profits of such trade or business, shall be considered as earned income. Suppose an individual taxpayer has a grocery store in which his average capital employed is $30,000....
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Federal Income Taxes, 1927

Eric Louis Kohler - Income tax - 1927 - 618 pages
...compensation for the personal services actually rendered by the taxpayer, not in excess of 20 per centum of his share of the net profits of such trade or business, shall be considered as earned income. (2) The term "earned income deductions" means such deductions as are allowed by section 214 for the...
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United States Code Annotated

United States - Law - 1928 - 1164 pages
...compensation for the personal services actually rendered by the taxpayer, not in excess of 20 per centum of his share of the net profits of such trade or business, shall be considered as earned income. (2) The term "earned income deductions" means such deductions as are allowed by section 955 of this...
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Comparison of the Revenue Acts of 1926 and 1928: With Index

United States - Finance - 1928 - 268 pages
...compensation for the personal services actually rendered by the taxpayer, not in excess of 20 per centum of his share of the net profits of such trade or business, shall be considered as earned income. (2) "Earned income deductions" means such deductions as are allowed by section 23 for the purpose of...
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