Code of Federal Regulations

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U.S. General Services Administration, National Archives and Records Service, Office of the Federal Register, 1966 - Administrative law

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Page 297 - A reasonable allowance for salaries or other compensation for personal services actually rendered; (2) Traveling expenses (including the entire amount expended for meals and lodging) while away from home in the pursuit of a trade or business; and (3) Rentals or other payments required to be made as a condition to the continued use or possession, for purposes of the trade or business, of property to which the taxpayer has not taken or is not taking title or in which he has no equity.
Page 299 - The cost of incidental repairs which neither materially add to the value of the property nor appreciably prolong its life, but keep it in an ordinarily efficient operating condition, may be deducted as expense, provided the plant or property account is not increased by the amount of such expenditures.
Page 104 - SEC. 61. Gross income defined — (a) General definition. Except as otherwise provided in this subtitle, gross income means all income from whatever source derived. including (but not limited to) the following items: (1) Compensation for services, including fees, commissions, and similar items...
Page 303 - That (A) such payments are held in trust for the purpose of paying, either from principal or income or both, for the benefit of employees, their families and dependents...
Page 268 - Scholarships and fellowship grants — (a) General rule. In the case of an individual, gross income does not include — (1) Any amount received — (A) As a scholarship at an educational institution...
Page 106 - In the case of a manufacturing, merchandising, or mining business, "gross income" means the total sales, less the cost of goods sold, plus any income from Investments and from incidental or outside operations or sources.
Page 254 - In such case, the amount of any income of such taxpayer attributable to any unamortlzed premium (computed as of the first day of the taxable year in which such discharge occurred) with respect to such indebtedness shall not be included in gross income, and the amount of the deduction attributable to any unamortized discount (computed as of the first day of the taxable year in which such discharge occurred) with respect to such indebtedness shall not be allowed as a deduction.
Page 550 - Any amount otherwise allowable as a deduction which is allocable to one or more classes of income other than interest (whether or not any amount of income of that class or classes is received or accrued) wholly exempt from the taxes imposed by this chapter...
Page 123 - If, by the terms of the decree, instrument, or agreement, the principal sum referred to in paragraph (1) is to be paid or may be paid over a period ending more than 10 years from the date of such decree, Instrument, or agreement, then (notwithstanding paragraph (1)) the installment payments shall be treated as periodic payments for purposes of subsection (a), but (in the case of any one taxable year of the wife) only to the extent of 10 percent of the principal sum. For purposes of the preceding...
Page 289 - If his central visual acuity does not exceed 20/200 In the better eye with correcting lenses, or If his visual acuity Is greater than 20/200 but Is accompanied by a limitation In the fields of vision such that the widest diameter of the visual field subtends an angle no greater than 20 degrees.

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