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 ?
These losses are fully deductible and may be used to offset ordinary business income.
The completion of the ordinary shares offering is not conditioned on the completion of the Perpetual PIERS offering, and the completion of the Perpetual PIERS offering is not conditioned on the completion of the ordinary shares offering.
For 1999, Trinity would pass through ordinary income of $60,000 on sale of the equipment.
The foregoing reverse stock split, resulting in a total of 4,642,007 issued and outstanding ordinary shares, followed the issuance by VocalTec on November 24, 2005 of an aggregate of 45,259,569 ordinary shares to the shareholders of Tdsoft Ltd.
Following the Option Exercise, Mr Parsons is now beneficially interested in a total of 3,192,283 ordinary shares in the Company, representing 0.
In the event the Offering is not fully subscribed, the major shareholders of the bank (Social Insurance Organisation Bahrain and National Bank of Bahrain) have expressed their non-binding support to subscribe for the remaining unsubscribed Ordinary Shares up to maximum of BHD 10 million at Offer Price in proportion of their shareholding.
Two other circuits, as well as numerous Tax Court rulings, have applied this doctrine in lottery sales cases and have consistently held that a lump-sum payment in exchange for future installments of lottery winnings is properly characterized as ordinary income; see Lattera, 437 F3d 399 (3d Cir.
In Hort and Lake, the Supreme Court narrowed the definition of capital asset by establishing the "substitute for ordinary income" exception.
Instead of being taxed at ordinary rates on the entire gain, clients can be taxed at lower long-term capital gain rates on the land's appreciated value by engaging in the following tax plan:
162-5(a)(1) provides that expenditures made for education and employee training are deductible as ordinary and necessary business expenses if the education maintains or improves skills required by the individual in his employment.
A basic question posed by students of the Holocaust has to do with the psychology of the ordinary perpetrators of the genocide against the Jews.
Immediately prior to the Company's initial public offering of ADSs on December 19, 2006 (the "IPO"), the Company had 1,000,000,000 total ordinary shares issued and outstanding.