necessary expense (§ 162(a))
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 403 U.S. 345 - Commissioner of Internal Revenue v. Lincoln Savings and Loan Association · 1971Most cited · 661 citing opinions
Our decisions have consistently construed the term 'necessary' as imposing only the minimal requirement that the expense be 'appropriate and helpful' for 'the development of the (taxpayer's) business'.