 | United States. Internal Revenue Service - Income tax - 1924 - 396 pages
...reasonable allowance as compensation for the personal services a-ctually rendered. In the ease of ;• taxpayer engaged in a trade or business in which both personal services anil capital are material income producing factors, a reasonable allowance aa compensation for the... | |
 | Irving Bank-Columbia Trust Company - Income tax - 1925 - 152 pages
...a corporation whose salary is $20,000, may treat only $10,000 as earned income. Where a taxpayer is engaged in a trade or business in which both personal services and capital are material income-producing factors (for example, a merchant), a reasonable allowance as compensation for the... | |
 | United States. Congress. Joint Committee on Internal Revenue Taxation - Taxation - 1927 - 414 pages
...further point on which a recommendation is made. Section 209 (a) (1) is quoted in part as follows: In the case of a taxpayer engaged in a trade or business...which both personal services and capital are material income-producing factors, a reasonable allowance for the personal services actually rendered by the... | |
 | United States. Bureau of Internal Revenue - Income tax - 1927 - 502 pages
...business of buying and selling securities constitute a part of the profits derived from the conduct of a business in which both personal services and capital are material income producing factors, and in the computation of earned income may be included as a part of such profits in applying the 20... | |
 | Robert Hiester Montgomery - Excess profits tax - 1927 - 592 pages
...represents a distribution of earnings or profits rather than a reasonable allowance as compensation for the personal services actually rendered. In the case of...actually rendered by the taxpayer, not in excess of 2o per centum of his share of the net profits of such trade or business, shall be considered as earned... | |
 | United States. Internal Revenue Service - Income tax - 1931 - 502 pages
...— The term " earned income " means wages, salaries, professional fees, and other amounts received as compensation for personal services actually rendered....which both personal services and capital are material income-producing factors, a reasonable allowance as compensation for the personal services actually... | |
 | United States. Internal Revenue Service - Income - 1931 - 1916 pages
...actually rendered, or an amount not ¡n excess of 20 per cent of the net profits derived by you from a trade or business in which both personal services and capital are material income-producing factors. Items 32 end 51 will be 25 per cent of item 31, or 25 per cent of the sum... | |
 | United States - 1933 - 174 pages
...rather than a reasonable allowance for the personal services actually rendered. If the taxpayer is engaged in a trade or business in which both personal services and capital are material income-producing factors, he may consider as earned income a reasonable allowance for the personal... | |
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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... 
