Ordinary

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Ordinary

Common and accepted in the general industry or type of activity in which the taxpayer is engaged. It is one of the tests for the deductibility of expenses incurred or paid in connection with a trade or business; for the production of income; for the management, conservation, or maintenance of property held for the production of income; or in connection with the determination, collection, or refund of any tax.
References in periodicals archive ?
stating that the taxpayer's loss from the sale of a foreign subsidiary would ordinarily give rise to foreign-source dividend income and, therefore, the taxpayer's loss on the disposition of its foreign subsidiary's stock constitutes a foreign-source loss.
The bursts of atrazine exceeded what would ordinarily occur downstream of any farm, Davis notes.
tax perspective, this generally is undesirable; ordinarily the S shareholders will not receive an FTC for foreign taxes paid by the subsidiary.
1041 (a) explicitly shields from recognition only gain (or loss) that ordinarily would be recognized on a sale or exchange or property, various other provisions respect the "step into the shoes" nature of property settlements.
Glass can't ordinarily be magnetized, but the Utah experiment shows that the metal rubidium, which is needed within the container as the gas is being aligned, somehow enables the glass to become magnetic.
Amounts designated as points that are paid in lieu of amounts ordinarily stated separately on the settlement statement (such as appraisal fees, inspection fees, title fees, attorney fees property taxes and mortgage insurance premiums) are not deductible as points.
This represents a significant step toward the use of an RNP guidance approach in San Francisco to help improve traffic flow when operations ordinarily would be restricted to just one runway," said Kevin Finan, Alaska's vice president of flight operations.
Ordinarily, water drops dribble like tears down a slanting surface, or they simply get stuck.
While this coverage is usually more expensive than health coverage for active employees (since usually the employer formerly paid a part of the premium), it is ordinarily less expensive than individual health coverage.
Ordinarily, the polymer glows green under ultraviolet radiation.
Caliper designs, manufactures and commercializes LabChip(R) devices and systems that enable experiments that ordinarily require laboratories full of equipment and people to be conducted on a chip small enough to fit in the palm of a child's hand.
Ordinarily, a material that is magnetic stays that way.