Holding
The court adopted the "one year rule" and payment in this case was fully deductible in the year of payment.
Read more about this topic: Zaninovich V. Commissioner
Famous quotes containing the word holding:
“The post-office appeared a singularly domestic institution here. Ever and anon the stage stopped before some low shop or dwelling, and a wheelwright or shoemaker appeared in his shirt- sleeves and leather apron, with spectacles newly donned, holding up Uncle Sam’s bag, as if it were a slice of home-made cake, for the travelers, while he retailed some piece of gossip to the driver, really as indifferent to the presence of the former as if they were so much baggage.”
—Henry David Thoreau (1817–1862)
“An Englishman’s never so natural as when he’s holding his tongue.”
—Henry James (1843–1916)
“Opera once was an important social instrument—especially in Italy. With Rossini and Verdi people were listening to opera together and having the same catharsis with the same story, the same moral dilemmas. They were holding hands in the darkness. That has gone. Now perhaps they are holding hands watching television.”
—Luciano Berio (b. 1925)