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Internal Revenue Code Section 162(a)
Section 162(a) of the Internal Revenue Code ((a)), is part of United States taxation law. It concerns deductions for business expenses. It is one of the most important provisions in the Code, because it is the most widely used authority for deductions. If an expense is not deductible, then Congress considers the cost to be a consumption expense. Section 162(a) requires six different elements in order to claim a deduction. It must be an ::1) ordinary ::2) and necessary ::3) expense ::4) that was paid or incurred during the taxable year ::5) in carrying on ::6) a trade or business activity.(a). These elements have been interpreted by the courts and administrative agencies to determine if an expenditure is deductible as a business expense. Ordinary and Necessary In general, the expense should be routine and directly related to the business activity. Ordinary does not require be habitual or made often; the court only requires that the expense is one that is ordinary and necessar ... [...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] |
Federal Reporter
The ''Federal Reporter'' () is a case law reporter in the United States that is published by West Publishing and a part of the National Reporter System. It begins with cases decided in 1880; pre-1880 cases were later retroactively compiled by West Publishing into a separate reporter, ''Federal Cases''. The fourth and current ''Federal Reporter'' series publishes decisions of the United States courts of appeals and the United States Court of Federal Claims; prior series had varying scopes that covered decisions of other federal courts as well. Though the ''Federal Reporter'' is an unofficial reporter and West is a private company that does not have a legal monopoly over the court opinions it publishes, it has so dominated the industry in the United States that legal professionals, including judges, uniformly cite to the ''Federal Reporter'' for included decisions. Approximately 30 new volumes are published each year. Distinctions The ''Federal Reporter'' has always published de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pevsner V
Pevsner or Pevzner is a Jewish surname. Notable people with the surname include: * Aihud Pevsner (1925–2018), American physicist * Antoine Pevsner (1886–1962), Russian sculptor, brother of Naum Gabo * David Pevsner, American actor, singer, dancer and writer * Keren Pevzner (born 1961), Israeli writer * Nikolaus Pevsner (1902–1983), German-born British historian and critic of art and architecture * Pavel A. Pevzner, computer scientist * Shmuel Pevzner (1878–1930), Russian-born Jewish writer and industrialist * Stella Pevsner, author of children's books * Tom Pevsner (1926–2014), German-born British film producer, son of Nikolaus Fictional people * "Baldy" Pevsner, legendary player for Neasden FC, in the North Circular Relegation League, as depicted in ''Private Eye ''Private Eye'' is a British fortnightly satire, satirical and current affairs (news format), current affairs news magazine, founded in 1961. It is published in London and has been edited by Ian Hisl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Midland Empire Packing Company V
Midland may refer to: Places Australia * Midland, Western Australia Canada * Midland, Albert County, New Brunswick * Midland, Kings County, New Brunswick * Midland, Newfoundland and Labrador * Midland, Ontario India * Midland Ward, Kohima, Nagaland Ireland * Midland Region, Ireland United States * Midland, Arkansas * Midland, California * Midoil, California, formerly Midland * Midland, Georgia * Midland, Indiana * Midland, Kentucky * Midland, Louisiana * Midland, Maryland * Midland, Michigan * Midland, Missouri * Midland, North Carolina * Midlands of South Carolina * Midland, Ohio * Midland, Oregon * Midland, Pennsylvania * Midland, South Dakota * Midland, Tennessee * Midland, Texas * Midland, Virginia * Midland, Washington * Midland City, Alabama Railways * Buenos Aires Midland Railway, a former British-owned railway company in Argentina * Colorado Midland Railway, US * Florida Midland Railroad (other), US * Midland Railroad (Massachusetts), US * Midland Rail ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Estate Of Rockefeller V
Estate or The Estate may refer to: Law * Estate (law), a term in common law for a person's property, entitlements and obligations * Estates of the realm, a broad social category in the histories of certain countries. ** The Estates, representative bodies of the estates of the realm *** Estates General, a supra-regional gathering of representatives of the estates of the realm * Estate in land * Estate (land), the grounds and tenancies (such as farms, housing, woodland, parkland) associated with a very large property ** Housing estate, a group of houses built as a single development. ** Industrial estate (office park) and trading estate; property planned and sub-let for industrial and commercial use. ** Real estate or real property ***Estate agent or real estate agent * Literary estate, the intellectual property of a deceased author, or the executor thereof Automobiles and technology * Estate car (station wagon), a passenger car with a full-size interior cargo compartment * Buick ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commissioner V
A commissioner (commonly abbreviated as Comm'r) is, in principle, a member of a Regulatory agency, commission or an individual who has been given a Wiktionary: commission, commission (official charge or authority to do something). In practice, the title of commissioner has evolved to include a variety of senior officials, often sitting on a specific commission. In particular, the commissioner frequently refers to senior police or government officials. A high commissioner is equivalent to an ambassador, originally between the United Kingdom and the Dominions and now between all Commonwealth states, whether Commonwealth realms, republics in the Commonwealth of Nations, republics or countries having a monarch other than that of the realms. The title is sometimes given to senior officials in the private sector; for instance, many North American sports leagues. There is some confusion between commissioners and commissary, commissaries because other European languages use the same word ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Treasury Regulation 1
A treasury is either *A government department related to finance and taxation, a finance ministry. *A place or location where treasure, such as currency or precious items are kept. These can be state or royal property, church treasure or in private ownership. The head of a treasury is typically known as a treasurer. This position may not necessarily have the final control over the actions of the treasury, particularly if they are not an elected representative. The adjective for a treasury is normally treasurial. The adjective "tresorial" can also be used, but this normally means pertaining to a ''treasurer''. History The earliest found artefacts made of silver and gold are from Lake Varna in Bulgaria dated 4250–4000 BC, the earliest of copper are dated 9000–7000 BC. The term ''treasury'' was first used in Classical times to describe the votive buildings erected to house gifts to the gods, such as the Siphnian Treasury in Delphi or many similar buildings erected in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Court Of Appeals For The Seventh Circuit
The United States Court of Appeals for the Seventh Circuit (in case citations, 7th Cir.) is the U.S. federal court with appellate jurisdiction over the courts in the following districts: * Central District of Illinois * Northern District of Illinois * Southern District of Illinois * Northern District of Indiana * Southern District of Indiana * Eastern District of Wisconsin * Western District of Wisconsin The court is based at the Dirksen Federal Building in Chicago and is composed of eleven appellate judges. It is one of 13 United States courts of appeals. The court offers a relatively unique internet presence that includes wiki and RSS feeds of opinions and oral arguments. It is also notable for having one of the most prominent law and economics scholars, Judge Frank H. Easterbrook, on its court. Richard Posner, another prominent law and economics scholar, also served on this court until his retirement in 2017. Three judges from the Seventh Circuit, Sherman Minton, John Pau ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vitale V
Vitale is a Russian surname and is usually a short form of Russian surnames such as ''Vitalik'', ''Vitalin'', or ''Vitalov''. It is also an Italian surname which derives from the Latin word ''Vita'' meaning 'life'. The name may refer to: *Ami Vitale (b. 1971), American photojournalist *Bobby Vitale (b. 1965), American porn film actor * Carol Vitale (b. 1948), American model and television hostess; ''Playboy'' Playmate 1974 * Carson Vitale (b. 1988), Canadian baseball coach *Dick Vitale (b. 1939), American basketball broadcaster *Eletise Leafa Vitale (contemporary), Samoan government minister who plotted and carried out an assassination *Falaniko Vitale (contemporary), American mixed martial arts fighter * Frank Vitale, President and CEO of Maryland University of Integrative Health * Gaetano Vitale (b. 2001), Italian footballer *Giordano Vitale (1633–1711), Italian mathematician *Ida Vitale (b. 1923), Uruguayan writer and artist; fled Uruguay for political asylum in Mexico *Joe Vita ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Taxation Law
The United States of America has separate federal, state, and local governments with taxes imposed at each of these levels. Taxes are levied on income, payroll, property, sales, capital gains, dividends, imports, estates and gifts, as well as various fees. In 2020, taxes collected by federal, state, and local governments amounted to 25.5% of GDP, below the OECD average of 33.5% of GDP. The United States had the seventh-lowest tax revenue-to-GDP ratio among OECD countries in 2020, with a higher ratio than Mexico, Colombia, Chile, Ireland, Costa Rica, and Turkey. Taxes fall much more heavily on labor income than on capital income. Divergent taxes and subsidies for different forms of income and spending can also constitute a form of indirect taxation of some activities over others. For example, individual spending on higher education can be said to be "taxed" at a high rate, compared to other forms of personal expenditure which are formally recognized as investments. Taxes are imp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Tax Court
The United States Tax Court (in case citations, T.C.) is a federal trial court of record established by Congress under Article I of the U.S. Constitution, section 8 of which provides (in part) that the Congress has the power to "constitute Tribunals inferior to the supreme Court". The Tax Court specializes in adjudicating disputes over federal income tax, generally prior to the time at which formal tax assessments are made by the Internal Revenue Service. Though taxpayers may choose to litigate tax matters in a variety of legal settings, outside of bankruptcy, the Tax Court is the only forum in which taxpayers may do so without having first paid the disputed tax in full. Parties who contest the imposition of a tax may also bring an action in any United States District Court, or in the United States Court of Federal Claims; however these venues require that the tax be paid first, and that the party then file a lawsuit to recover the contested amount paid (the "full payment rule" ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
