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:
“Our star was brighter perhaps when it had water in it.
Now there is no question even of that, but only
Of holding on to the hard earth so as not to get thrown off,
With an occasional dream, a vision ...”
—John Ashbery (b. 1927)
“An inquiry about the attitude towards the release of so-called political prisoners. I should be very sorry to see the United States holding anyone in confinement on account of any opinion that that person might hold. It is a fundamental tenet of our institutions that people have a right to believe what they want to believe and hold such opinions as they want to hold without having to answer to anyone for their private opinion.”
—Calvin Coolidge (1872–1933)
“I have often repented speaking, but never of holding my tongue.”
—Xenocrates (396–315 B.C.)