 | United States. Court of Claims - Law reports, digests, etc - 1929 - 762 pages
...which it has no equity." Article 105 of Treasury Regulations 45 and 62 reads as follows : "Among the ordinary and necessary expenses paid or incurred in carrying on any trade or business may be included a reasonable allowance for salaries or other compensation for personal services actually... | |
 | Business education - 1918 - 618 pages
...expense but are treated as advance distributions of Dividends, Sharings, or Withdrawals. 1 " Among the ordinary and necessary expenses paid or incurred in carrying on any trade or business may be included a reasonable allowance for salaries or other compensation for personal services actually... | |
 | Accounting - 1919 - 500 pages
...The only head within which it might be suggested that such contributions could be included is that of ordinary and necessary expenses paid or incurred in carrying on any trade or business, including reasonable salaries or other compensation, rentals, and payments for use of property provided... | |
 | George Edwin Holmes - Excess profits tax - 1919 - 1048 pages
...non-resident aliens. BUSINESS EXPENSES. Non-resident aliens may deduct from their gross income all ordinary and necessary expenses paid or incurred in carrying on any trade or business subject to the same general provisions applicable to citizens and residents,48 but only if and to the... | |
 | United States. Internal Revenue Service - Natural gas - 1919 - 168 pages
...may be reduced through annual depreciation deductions. COMPENSATION FOR PERSONAL SERVICES. Among the ordinary and necessary expenses paid or incurred in carrying on any trade or business may be included a reasonable allowance for salaries or other compensation for personal services actually... | |
 | Prentice-Hall Inc, Prentice-Hall, inc - 1919 - 428 pages
...The only head within which it might be suggested that such contributions could be included is that of ordinary and necessary expenses paid or incurred in carrying on any trade or business, including reasonable salaries or other compensation, rentals, and payments for use of property, provided... | |
 | Income tax - 1920 - 188 pages
...(Tax Law, section S61, and article 125.) ABT. 115. Compensation for personal services — Among the ordinary and necessary expenses paid or incurred in carrying on any trade or business may be included a reasonable allowance for salaries or other compensation for personal services actually... | |
 | United States. Bureau of Internal Revenue - Excess profits tax - 1920 - 346 pages
...deductions. See section 215 and articles 291-294. ART. 105. Compensation for personal services. — Among the ordinary and necessary expenses paid or incurred in carrying on any trade or business may be included a reasonable allowance for salaries or other compensation for personal services actually... | |
 | United States. Internal Revenue Service - Excess profits tax - 1921 - 348 pages
...deductions. See section 215 and articles 291-294. ART. 105. Compensation for personal services. — Among the ordinary and necessary expenses paid or incurred in carrying on any trade or business may be included a reasonable allowance for salaries or other compensation for personal services actually... | |
 | Emerson Emanuel Rossmoore - Income tax - 1922 - 592 pages
...deduction from gross income for the years in question. REFERENCE : Art. 105, Regulations 62: "Among the ordinary and necessary expenses paid or incurred in carrying on any trade or business may be included a reasonable allowance for salaries or other compensation for personal services actually... | |
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The test of deductibility in the case of compensation payments is whether they are reasonable and are in fact payments purely for services. 
