Ordinary


Also found in: Dictionary, Thesaurus, Legal, Acronyms, Idioms, Encyclopedia, Wikipedia.

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 ?
The Company has applied to the London Stock Exchange for admission of the New Ordinary Shares to trade on AIM ('Admission').
While Erickson employs an array of evidence, her most interesting material comes from the records of ecclesiastical probate courts, which record personal property transfers between ordinary men and women which were not contentious.
Other critics point more specifically to Yusuf's talent for capturing the ordinary and the obvious in a kaleidoscopic poetic medium.
1.162-5(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.
In this discourse, the hypocrisy of the "disengaged critic" writing about art is closely analogous to that of the "disengaged psychoanalyst" writing about sex: any acknowledgment of the ordinary pleasures attendant upon the event itself is rigorously suppressed (as professional impropriety) and, along with it, any recognition of the multitudinous challenges to self-knowledge that are attendant upon those pleasures.
Do you see the special beauty of this ordinary vegetable?
All shareholders of the ordinary shares, including ordinary shares represented by ADSs at 17:00 ET on 2 August 2018, will receive the dividend.
Following this change, the total number of shares amounts to 241,128,859, of which 79,067,657 class A ordinary shares, 161,029,155 are class B ordinary shares and 1,032,047 are preference shares, with the total number of votes amounting to 95,273,777.
All of the business travel is assumed to be ordinary and necessary and the accountable plan rules are assumed to be met.
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), applicable to bankruptcy cases filed on and after October 17, 2005, has made it easier for trade creditors to satisfy the ordinary course of business defense to preference claims.
The IRS reclassified it as ordinary income and assessed a $660,784 deficiency.
Ordinary galaxies seem to be made of about 10 percent ordinary matter--the kind that forms stars that shine--and 90 percent dark matter, an invisible substance whose nature still eludes astronomers.