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:
“I have often repented speaking, but never of holding my tongue.”
—Xenocrates (396–315 B.C.)
“To me heaven would be a big bull ring with me holding two barrera seats and a trout stream outside that no one else was allowed to fish in and two lovely houses in the town; one where I would have my wife and children and be monogamous and love them truly and well and the other where I would have my nine beautiful mistresses on nine different floors.”
—Ernest Hemingway (1899–1961)
“The slogan offers a counterweight to the general dispersion of thought by holding it fast to a single, utterly succinct and unforgettable expression, one which usually inspires men to immediate action. It abolishes reflection: the slogan does not argue, it asserts and commands.”
—Johan Huizinga (1872–1945)