The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1866-05-10

lions for losses from depreciation in the
II value of stocks or other property of like
nature. No deduction can in any case be
allowed for depreciation of value of such
property until it is actually disposed OF
and loss realized. IS w~R Al @Q
4 II. Costs of suits and other legal proceed
! ings arising from ordinary business are to
be treated as other expenses of such bust
ness, and may be deducted from the gross
l3 Money paid for a substitute in the
army or navy cannot be deducted from in
come. Money received by a substitute for
acting as such must be returned by him as
| income.
IA. Where physicians are obliged to keep
a horse for the transaction of business,
| they may deduct so much of the expense
SO incurred as is fairly referable to the bust
Is. Expenses for medical attendance,
store bills, &C., are not proper subjects for
deduction. Expenses Of repairs OF iInple-
ments, tools, &C., used in business, may be
deducted.
l6. Only one deduction of $500 is allowed
Irom the aggregate incomes of all the
members of any family composed of pa
rents and minor children, even though
one parent only may be living. 1t is not
essential that the children live with the
parents. Husband and wife are regarded
as members of the same family, though
Ilvlng separately, unless separated by dis
Forcei or other operation of law, such as
70 break up the family relations 80, aaH
Ia. If the members OF q family have
separate incomes the returns NAV be
made separately by the proper parties, and
ratable proportion of the 5000 deducted
from the income of each. The parent, as
the natural guardian of the minor child, is
required to make return for him. But
where any other guardian or trustee has
been appointed, the return should be made
by the latter. If the minor has no guar
dian Or trustee, he should make return
himself If he refuse or neglect, an indie
pendent assessment must be made as in
other eases, emitting penalty.
IL. Ii a taxpayer has miner child in
h INV -
ceiving salary, such parent should in
clude in his income return so much of the
salary of his child as is notsubject to sail
airy tax.
10. Voluntary contributions to bounty
funds are not considered as taxes, and cam
not be deducted.
may be deducted, but the rental value of
. pr0pertysoYped blythe taxpayer is~n0t a
: beet Of Deduction Any person claim
ing deduction on account of expense for
room rent must satisfy the assessor that
the room or rooms occupied by him con-
stitute his home, and that he has no resi-
dence elsewhere, and this being shown he
may be allowed to deduct what he actually
pays for rent of such rooms. When rent
is included and deducted as an expense of.
bushes, 1T must not again be deducted as
rent, nor should a person hiring a house
and sub-letting portion OF 1t be allowed
to deduct more than the excess of his pay
ments over his receipts.
2l. Among the National. State County.
and municipal taxes deductabIe from in
come are comprised of such internal reve-
nue. taxes as have not been included in ex-
penseS of business, and such municipal
taxes as are assessed ratably upon all per-
sons liable to such assessment. But assess
ments made by municipal authorities
upon the inhabitants of q particular local
ity of a town or city on account of special
improvements in or upon the streets adj
joining the premises of such inhabitants,
the same not being assessed FATALLY, are
not considered as taxes deductable from
income ~ - s5re.. fs9s,s,f4sl' 49, 81
Il. Marriage fees, gifts from members of a
congregation TO their pastor. &C., are taxa
are in the nature of compensation for SER
vices rendered, whether in accordance with
or other valuable confederation are NOT IT 1
able TO taxation as income Amounts ra
celVeo on life insurance policies, and dam
s a. t F IN actions of tort ex-
sX.flAaWyers and physicians may .return
either the actual fees received DURING the
ear, w MItnout regard to the time when they
accrued, or the amounts due to the business
% the year. But when the taxpayer hns |
heretofore adopted one method, he cannot |
now pe allowed to make use of the other
%. If the manufacturer or dealer has ISes.,, |
IN the practice of estimating his ANIMAL |
pronts by taking inventories of stock. he /
less he has taken the market Vai,1,e IN II,
making previous returns Whichevar
method has been adopted by the tax-paver
should be adhered to uniformly
70. II interest accrued during the vaor ~,
!nlotes, PONDS, de-, is good and coIlectabIe nj
Ire END OF the year, it should he returned
not. ee0'eu OF
q. The fact that income is DEVOTED to5the
payment OF debts does not release rlle San3e Il
rom o. LIABILITY to income tax.
,noe II ~, an inventor sell his invention at
income the whole amount less the ex-
oenses actually incurred in perfecfino ~
Inventlon, or in procuring patent right.
hc mo u
1or or personal expenses of the inventor
Inc sell only port on of his right during
he year, he may deduct a nrono,t Sonnnt5 L.
mount of such expense.
70. neheVer the salary or pay received !
~ any person in Government en- nloy~ door :
lou exceed SIX hundred dollars per a1inum. IL
y - ilaue up or fees, or is uncertain or :
Irregular IN the amount of time, and has :
lot therefore been subject to salary taS3 {
should be returned as income ' :
5O incomes of persons who died after Ta. !
eLIDer 81 are taxable, and should be re- ,
u Isd "a, by executors or administrators, and 1t
eFSOnS who died within that sy.sar H. i
ONE which accrued from the estates IF q
UGH persons in 1866, after the date Of d. .
Use smouiu pc returned by the heirs or i
III. Residents should make return in tha =
,s5rict Wnere they reside at the time of g
nder section ll6 for the purpose of taxing &
lcome is held to be q residence during thS !,
ear Ior which income is "derived6 If =
ny person subject TO income tax resides b
broad, his return should be made i'm the | ~
strict where he last resided a
A guardian should return the income of =
deS. "'AV re- II
81 Citizens of the United States residin, | II
broad are subject to tax upon their enfirs | ~
lcomes from al. sources Twhafever. and ~
lis country. S III =.
81. The term "real estateu ineludes oil 81 81
mas, tenements, and .hereditaments cor II
oreal and 1ncorporeal. Profits on sales Of I 81
az estate purchased in previous wear n,
eed NOT be returned as income. nor can AN ~
Sses on such sales be deducted therefr61n,',- n
a. lease Tor years or for life is personal IL
tate, and any profits on the sale of such AZ
sale w yStti ~