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Commissioner V. Boylston Market Ass'n
''Commissioner v. Boylston Market Association'', 131 F.2d 966 (1st Cir. 1942) was a taxation case decided by the United States Court of Appeals for the First Circuit. Issues Whether a cash method taxpayer is limited to the deduction of insurance premiums actually paid in any year or whether he should deduct each year the pro rata portion of the prepaid insurance attributable to that year? Facts The cash method taxpayer had a business in which he owned and managed real estate. The taxpayer would purchase insurance policies covering periods of three or more years. The taxpayer would then deduct each year an insurance expense in the amount of insurance premium applicable to carrying insurance for that year regardless of the year in which the premium was actually paid. Analysis In ''Welch v. De Blois'', 94 F.2d 842 (1st Cir. 1938), the First Circuit allowed a cash method taxpayer to make a full deduction of insurance premiums in the year he paid them as an ordinary and necessa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Court Of Appeals For The First Circuit
The United States Court of Appeals for the First Circuit (in case citations, 1st Cir.) is a federal court with appellate jurisdiction over the district courts in the following districts: * District of Maine * District of Massachusetts * District of New Hampshire * District of Puerto Rico * District of Rhode Island The court is based at the John Joseph Moakley Federal Courthouse in Boston, Massachusetts. Most sittings are held in Boston, where the court usually sits for one week most months of the year; in one of July or August, it takes a summer break and does not sit. The First Circuit also sits for one week each March and November at the Jose V. Toledo Federal Building and United States Courthouse in Old San Juan, Puerto Rico, and occasionally sits at other locations within the circuit. With six active judges and four active senior judges, the First Circuit has the fewest judges of any of the thirteen United States courts of appeals. Since retiring from the Uni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Calvert Magruder
Calvert Magruder (December 26, 1893 – May 22, 1968) was a United States circuit judge of the United States Court of Appeals for the First Circuit. Education and career Born on December 26, 1893, in Annapolis, Maryland, received an Artium Baccalaureus degree in 1913 and an Artium Magister degree in 1917 from the Annapolis campus of St. John's College. He received a Bachelor of Laws in 1916 from Harvard Law School. He was a law clerk for Associate Justice Louis Brandeis of the Supreme Court of the United States from 1916 to 1917. He served as an infantry lieutenant in the United States Army from 1917 to 1919, during World War I. He was an attorney for the United States Shipping Board from 1919 to 1920. He was a faculty member of Harvard Law School from 1920 to 1939 and again from 1947 to 1959, as an assistant professor of law from 1920 to 1925, professor of law from 1925 to 1932, vice dean from 1930 to 1939 and as a lecturer from 1947 to 1959. He was general counsel for the Nat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Christopher Mahoney
John Christopher Mahoney (December 19, 1882 – November 18, 1952) was a United States circuit judge of the United States Court of Appeals for the First Circuit and previously was a United States District Judge of the United States District Court for the District of Rhode Island. Education and career Born on December 19, 1882, in Boherbue, Cork, Ireland, Mahoney received an Artium Baccalaureus degree in 1905 from Brown University and a Bachelor of Laws in 1908 from Harvard Law School. He entered private practice in Providence, Rhode Island from 1908 to 1931. He served as an Assistant United States Attorney for the District of Rhode Island from 1917 to 1921. He served as city solicitor for Providence from 1931 to 1935. He was a Knight of Columbus. Federal judicial service Mahoney was nominated by President Franklin D. Roosevelt on May 24, 1935, to a seat on the United States District Court for the District of Rhode Island vacated by Judge Ira Lloyd Letts. He was confirmed b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peter Woodbury
Peter Woodbury (October 24, 1899 – November 17, 1970) was a United States circuit judge of the United States Court of Appeals for the First Circuit. Biography Woodbury was born in Bedford, New Hampshire. He received a Bachelor of Science degree from Harvard University in 1924. He attended Columbia Law School before transferring to Harvard. He received a Bachelor of Laws degree from Harvard Law School in 1927. He was in the United States Army Private First Class, 27th Army Division from 1918 to 1919. He was in private practice of law in Manchester, New Hampshire, from 1927 until the early 1930s. He was a Selectman, Bedford, New Hampshire from 1928 to 1931. He was a Justice, Bedford Municipal Court, New Hampshire from 1928 to 1932. He was an Associate Justice, New Hampshire Superior Court from 1932 to 1933. He was an Associate Justice, New Hampshire Supreme Court from 1933 to 1941. Federal judicial service Woodbury was nominated by President Franklin D. Roosevelt on January 31, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internal Revenue Code
The Internal Revenue Code (IRC), formally the Internal Revenue Code of 1986, is the domestic portion of federal statutory tax law in the United States, published in various volumes of the United States Statutes at Large, and separately as Title 26 of the United States Code (USC). It is organized topically, into subtitles and sections, covering income tax in the United States, payroll taxes, estate taxes, gift taxes, and excise taxes; as well as procedure and administration. The Code's implementing federal agency is the Internal Revenue Service. Origins of tax codes in the United States Prior to 1874, U.S. statutes (whether in tax law or other subjects) were not codified. That is, the acts of Congress were not separately organized and published in separate volumes based on the subject matter (such as taxation, bankruptcy, etc.). Codifications of statutes, including tax statutes, undertaken in 1873 resulted in the Revised Statutes of the United States, approved June 22, 1874, eff ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cash Method V
In economics, cash is money in the physical form of currency, such as banknotes and coins. In bookkeeping and financial accounting, cash is current assets comprising currency or currency equivalents that can be accessed immediately or near-immediately (as in the case of money market accounts). Cash is seen either as a reserve for payments, in case of a structural or incidental negative cash flow or as a way to avoid a downturn on financial markets. Etymology The English word "cash" originally meant "money box", and later came to have a secondary meaning "money". This secondary usage became the sole meaning in the 18th century. The word "cash" derives from the Middle French ''caisse'' ("money box"), which derives from the Old Italian ''cassa'', and ultimately from the Latin ''capsa'' ("box").. History In Western Europe, after the fall of the Western Roman Empire, coins, silver jewelry and hacksilver (silver objects hacked into pieces) were for centuries the only form of money, u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate
Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general."Real estate": Oxford English Dictionary online: Retrieved September 18, 2011 In terms of law, ''real'' is in relation to land property and is different from personal property while ''estate'' means the "interest" a person has in that land property. Real estate is different from personal property, which is not permanently attached to the land, such as vehicles, boats, jewelry, furniture, tools and the rolling stock of a farm. In the United States, the transfer, owning, or acquisition of real estate can be through business corporations, individuals, nonprofit corporations, fiduciaries, or any legal entity as seen within the law of each U.S. state. History of real estate The natural right of a person t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance Premium
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asset
In financial accountancy, financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positive economic value. Assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset). The balance sheet of a firm records the monetaryThere are different methods of assessing the monetary value of the assets recorded on the Balance Sheet. In some cases, the ''Historical Cost'' is used; such that the value of the asset when it was bought in the past is used as the monetary value. In other instances, the present fair market value of the asset is used to determine the value shown on the balance sheet. value of the assets owned by that firm. It covers money and other valuables belonging to an individual or to a business. Assets can be grouped into two major classes: Tangible property, tangible assets and intangible assets. Tangible ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1942 In United States Case Law
Year 194 ( CXCIV) was a common year starting on Tuesday (link will display the full calendar) of the Julian calendar. At the time, it was known as the Year of the Consulship of Septimius and Septimius (or, less frequently, year 947 ''Ab urbe condita''). The denomination 194 for this year has been used since the early medieval period, when the Anno Domini calendar era became the prevalent method in Europe for naming years. Events By place Roman Empire * Emperor Septimius Severus and Decimus Clodius Septimius Albinus Caesar become Roman Consuls. * Battle of Issus: Septimius Severus marches with his army (12 legions) to Cilicia, and defeats Pescennius Niger, Roman governor of Syria. Pescennius retreats to Antioch, and is executed by Severus' troops. * Septimius Severus besieges Byzantium (194–196); the city walls suffer extensive damage. Asia * Battle of Yan Province: Warlords Cao Cao and Lü Bu fight for control over Yan Province; the battle lasts for over 100 days ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Taxation And Revenue Case Law
United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * ''United'' (2003 film), a Norwegian film * ''United'' (2011 film), a BBC Two film Literature * ''United!'' (novel), a 1973 children's novel by Michael Hardcastle Music * United (band), Japanese thrash metal band formed in 1981 Albums * ''United'' (Commodores album), 1986 * ''United'' (Dream Evil album), 2006 * ''United'' (Marvin Gaye and Tammi Terrell album), 1967 * ''United'' (Marian Gold album), 1996 * ''United'' (Phoenix album), 2000 * ''United'' (Woody Shaw album), 1981 Songs * "United" (Judas Priest song), 1980 * "United" (Prince Ital Joe and Marky Mark song), 1994 * "United" (Robbie Williams song), 2000 * "United", a song by Danish duo Nik & Jay featuring Lisa Rowe Television * ''United'' (TV series), a 1990 BBC Two documentary series * ''United!'', a soap opera that aired on BBC One from 1965-19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
