Federal Income Tax and Its Relation to Real Property: Prepared on Behalf of and Published for the Members of the Real Estate Board of New York |
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Page 6
... necessary it is to have before each tax - payer , the law and regulations so that he may be in possession of all necessary information before closing his books of account for the taxable year . Instances are known where the premature ...
... necessary it is to have before each tax - payer , the law and regulations so that he may be in possession of all necessary information before closing his books of account for the taxable year . Instances are known where the premature ...
Page 6
... necessary it is to have before each tax - payer , the law and regulations so that he may be in possession of all necessary information before closing his books of account for the taxable year . Instances are known where the premature ...
... necessary it is to have before each tax - payer , the law and regulations so that he may be in possession of all necessary information before closing his books of account for the taxable year . Instances are known where the premature ...
Page 29
... necessary on the ground that the tax - payer's return must be in accordance with his books and that if such charging off were not compul- sory , it would increase the difficulties of the Department in auditing returns . The intention of ...
... necessary on the ground that the tax - payer's return must be in accordance with his books and that if such charging off were not compul- sory , it would increase the difficulties of the Department in auditing returns . The intention of ...
Page 32
... necessary to tell members of the Board what is meant by such assessments . ( B ) Bad Debts ( Pars . 509-512 ) The peculiar situation which has arisen out of the re- cent rent legislation has been discussed elsewhere . Or- dinarily ...
... necessary to tell members of the Board what is meant by such assessments . ( B ) Bad Debts ( Pars . 509-512 ) The peculiar situation which has arisen out of the re- cent rent legislation has been discussed elsewhere . Or- dinarily ...
Page 33
... necessary in every case . The Department , however , must be satisfied that the obligation on the bond is worthless . Such evidence is similar to that necessary in order to establish losses on loans , accounts receivable , etc. As to ...
... necessary in every case . The Department , however , must be satisfied that the obligation on the bond is worthless . Such evidence is similar to that necessary in order to establish losses on loans , accounts receivable , etc. As to ...
Other editions - View all
Federal Income Tax and Its Relation to Real Property Real Estate Board of New York No preview available - 2023 |
Federal Income Tax and Its Relation to Real Property: Prepared on Behalf of ... Real Estate Board of New York No preview available - 2018 |
Common terms and phrases
acquired prior thereto allowable deduction amended by T. D. April 17 arises ascertained Bad Debts bond building cash cash basis account charged claimed compensation computed constitute contract deducted from gross deferred payments Department depreciation reserve depreciation sustained Determining Gain dividends earnest money eminent domain erected erty estate or trust excess fact fair market value farm foreclosure gain or loss gift gross income held improvements included income tax Installment Sales interest land Law Sec lease lessee March ment mortgage net income nonresident alien obsolescence owner paid Paragraph Numbers parcel Pars partnership personal service corporation price or value proceeds prop property acquired purpose real estate real property reasonable allowance received in exchange regulations rent rental result Revenue Act sale of property Sales of Real sell seller sold stock or securities stockholders subdivision taxable income taxpayer tenant thereof tion trade or business transaction treated
Popular passages
Page 35 - Includes gains, profits, and income derived from salaries, wages, or compensation for personal service * * * of whatever kind and in whatever form paid, or from professions, vocations, trades, businesses, commerce...
Page 39 - personal service corporation " means a corporation whose income is to be ascribed primarily to the activities of the principal owners or stockholders who are themselves regularly engaged in the active conduct of the affairs of the corporation and in which capital (whether invested or borrowed) is not a material income-producing factor; but does not include any foreign...
Page 42 - Sec. 234. (a) That 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 ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business...
Page 36 - 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 43 - Debts ascertained to be worthless and charged off within the taxable year (or in the discretion of the Commissioner, a reasonable addition to a reserve for bad debts); and when satisfied that a debt is recoverable only in part, the Commissioner may allow such debt...
Page 35 - If the taxpayer's annual accounting period is other than a fiscal year as defined in section 200 or if the taxpayer has no annual accounting period or does not keep books, the net income shall be computed on the basis of the calendar year.
Page 36 - 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...
Page 41 - Supplement, required to be Included In computing his net Income. Any remaining portion of such amounts specified In section...
Page 41 - ... in cases under paragraph (4) of subdivision (a) of this section the fiduciary shall include in the return a statement of each beneficiary's distributive share of such net income, whether or not distributed before the close of the taxable year for which the return is made.
Page 43 - That corporations which are affiliated within the meaning of this section may, for any taxable year beginning on or after January 1, 1922, make separate returns or, under regulations prescribed by the Commissioner with the approval of the Secretary, make a consolidated return of net income for the purpose of this title, in which case the taxes thereunder shall be computed and determined upon the basis of such return.