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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... "
American Medical Association Bulletin - Page 152
by American Medical Association - 1925
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Accounting Principles Underlying Federal Income Taxes, 1924

Eric Louis Kohler - Accounting - 1924 - 489 pages
...States, determined under the provisions of section 217. DEDUCTIONS ALLOWED INDIVIDUALS Sec. 214. (a) That in computing net income there shall be allowed...including a reasonable allowance for salaries or other compensation for personal services actually rendered ; traveling expenses (including the entire amount...
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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 - 363 pages
...SEC. 234. (a) In computing the net income of a corporation subject to the tax imposed by section 230 there shall be allowed as deductions : (1) All the...including a reasonable allowance for salaries or other compensation for personal services actually rendered, and including rentals or other payments required...
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Comparison of the Revenue Acts of 1918 and 1921

United States - Finance - 1924 - 240 pages
...of a corporation subject to the tax imposed by section 230 there shall be allowed as deductions: 6 (1) All the ordinary and necessary expenses paid or...including a reasonable allowance for salaries or other compensation for personal services actually rendered, and including rentals or other payments required...
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Hearings Before the Committee on the Judiciary, House of Representatives ...

United States. Congress. House. Committee on the Judiciary - 1924
...expenses, including rentals, cost of repairs, and maintenance, heat, power, insurance, management, and a reasonable allowance for salaries or other compensations for personal services actually rendered, and for depreciation ; (c) Interest paid within the taxable year on debts or loans contracted to meet...
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Corporation Procedure: Law, Finance, Accounting

Thomas Conyngton, Robert Joseph Bennett, Paul Whittier Pinkerton - Corporation law - 1922 - 1689 pages
...deductions: (i) 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 otlter compensation for personal services actually rendered. This would seem to prevent, and was intended...
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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 - 143 pages
...under the provisions of section 217. DEDUCTIONS ALLOWED INDIVIDUALS SEC. 214. (a) In computing net income there shall be allowed as deductions: (1) All...including a reasonable allowance for salaries or other compensation for personal services actually rendered; traveling expenses (including the entire amount...
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Income Tax Accounting

John F. Sherwood - Income tax - 1925 - 205 pages
...individuals. In computing the net income of a corporation subject to the tax imposed by section 230 there shall be allowed as deductions: (1) All the...including a reasonable allowance for salaries or other compensation for personal services actually rendered, and including rentals or other payments required...
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Federal Income and Estate Tax Laws: Correlated and Annotated, Being a ...

Walter Elbert Barton, United States, Carroll Wright Browning - Electronic books - 1925 - 549 pages
...cannot claim for v. Orutchley, (DC. WD Mo.. WD 1921) 3. 125. Act of 1924. Act of 1921. Act of 1918. (1) All the ordinary and necessary expenses paid or...including a reasonable allowance for salaries or other compensation for personal services actually rendered, and including rentals or other payments required...
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Reports of the U.S. Board of Tax Appeals, Volume 1

United States. Board of Tax Appeals - Taxation - 1926
...section 234 (a) (1) of the Revenue Act of 1918, which provide: SEC. 234. (a) That In computing the net Income * * * there shall be allowed as deductions...including a reasonable allowance for salaries or other compensation for personal services actually rendered * * *. (Italics ours.) It will be noted that this...
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Revenue Revision 1927-28: Hearings Before the Committee on Ways and Means ...

United States. Congress. House. Committee on Ways and Means - Internal revenue - 1927 - 1014 pages
...part of the revenue act of 1921 under which this decision was made is as follows : •' Sec 214. (a) That in computing net income there shall be allowed...including a reasonable allowance for salaries or other compensation for personal services actually rendered ; traveling expenses (including the entire amount...
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