 ... factors, a reasonable allowance as 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.  Reports of the U.S. Board of Tax Appeals - Page 224by United States. Board of Tax Appeals - 1928Full view - About this book
 | United States. Court of Claims - Law reports, digests, etc - 1938 - 834 pages
...exchange of capital assets. (3) "Capital deductions" means such deductions as are allowed by Section 23 for the purpose of computing net income, and are properly allocable to or chargeable against capital assets sold or exchanged during the taxable year. (4) "Ordinary deductions" means the deductions... | |
 | Emerson Emanuel Rossmoore - Income tax - 1922 - 592 pages
...31, 1921; ** (3) The term "capital deductions" means such deductions as are allowed under this title for the purpose of computing net income and are properly allocable to or chargeable against items of capital gain as defined in this section; total amount of capital gain over the sum of the... | |
 | United States - Law - 1922 - 756 pages
...December 31, 1921; (3) The term "capital deductions" means such deductions as are allowed under this title for the purpose of computing net income and are properly allocable to or chargeable against items of capital gain as defined in this section; (5) The term "ordinary net income" means the net... | |
 | United States - Law - 1922 - 1028 pages
...31, 1921 ; (3) The term " capital deductions " means such deductions as are allowed under this title for the purpose of computing net income and are properly allocable to or chargeable against items of capital gain as defined in this section ; (4) The term " capital net gain " means the excess... | |
 | United States. Congress. House. Committee on Ways and Means - Finance - 1923 - 256 pages
...Act of 1921. (3) The term "capital deductions" means such deductions as are allowed under this title for the purpose of computing net income and are properly allocable to or chargeable against items of capital gain as defined in this section; (4) The term "capital net gain" means the excess... | |
 | United States. Congress. House. Committee on Ways and Means - 1923 - 30 pages
...capital assets; " (3) The term 'capital deductions' means such deductions as are allowed under this title for the purpose of computing net income and are properly allocable to or chargeable against items of capital gain as denned in this section ; " (4) The term ' capital net gain ' means the excess... | |
 | Irving Bank. Columbia Trust Company - Income tax - 1923 - 148 pages
...December 31, 1921; (3) The term "capital deductions" means such deductions as are allowed under this title for the purpose of computing net income and are properly allocable to or chargeable against items of capital gain as defined hi this section; (4) The term " capital net gain" means the excess... | |
 | Eric Louis Kohler - Accounting - 1924 - 514 pages
...December 31,1921; (3) The term "capital deductions" means such deductions as are allowed under this title for the purpose of computing net income and are properly allocable to or chargeable against items of capita] gain as denned in this section; (4) The term "capital net gain" means the excess of... | |
 | 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... | |
 | John F. Sherwood - Income tax - 1925 - 206 pages
...reasonable allowance as compensation for the personal services actually rendered by the taxpayer, not in excess of 20 per centum of his share of the net profits...purpose of computing net income, and are properly allocatable to or chargeable against earned income. (b) In the case of an individual the tax shall,... | |
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