The Daily clarion. [volume] (Jackson, Miss.) 1866-1888, 1867-05-19

HHt DICK OF 10TH INVENT -IOuI siUulI De II ltt
out, and the blank left. This being done, II
becomes the duty of the tax payer to seek
the assistant assessor and deliver his return
E A. ROLLINS, Commissioner.
INCOME.
J. The fsrmers profits from sales of live
stock are to be found by deductng from the
gross receipts for animals sold, the purchase
money paid for the same
2 No deduction can be made by the far
mer for the value of services rendered by his
minor children, whether he actually pays
for such services or not. If his adult children
work for him and receive compensation for
their labor, they are to be regarded other
hired laboTeTs III determining his income.
3. Money paid for labor, except such as
is used or employed III domestic service, or
in the production of articles consumed in
the family of the producer, may be deduct
ed
a. Deduction can be allowed in any case
for the cost of unproductive labor. If house
serva ats are employed a portion of their
time in productive labor, such as the max
ing of butter and cheese for sale, proper
tomato amount of the wages paid them may
be deducted
5 Expenses for ditching and clearing
new land are plainly expenses for permanent
improvements, and not deductahle
g. The whole amount expended Tor Ter
tilizers, applied during the year to the
farmers land may be deducted. but no de-
duction is allowed for fertilizers produced
on the farm. The cost of seed purchased for
sowing or planting may be deducted.
T. Farmers will not be required to make
return of produce consumed in their own
immediate families
3 If a person sells timber standing the
profits are to he ascertained by estimating
the value of the land after the removal of
the timber and adding thereto the amount
received for the timber, and from the sum
thus obtained deducting the estimated value
of the land on the first day of January, 1862,
or on the day of purchase, If purchased since
that date.
Q. A farmer should make return of all his
produce sold within the year but mere
cxecutOry contract for sale Is not sale ;
delivery, either actual or constructive, Is
essential The criterion by which to judge
whether a sale is complete OF not IS to deter
mine whether the vendor still retains in
that character a right over the property-lt
the property were lost or destroyed, upon
which of the parties, in the absence OF any
other relation between them than that OF
vendor aud vendee, would the loss fall
10 Taxpayers frequently claim deduc-
lions for losses from depreciation III the
value of stock or other property of like
natu O. No deduction can in any case be
allowed for depreciation of value of such
property until it is actually disposed OF ana
a loss realized.
II. Costs of suits and other legal proceed
ings. arising from ordinary business are 10
be treated as other expenses of such bust
ness aud may be deducted from the gross
profits thereof.
PHYSICIANS.
10 Where physicians are obliged to keep
n horse for the transaction OF business, they
NAV deduct so much of the expense so
incnrred as is fairly referable to the business
done. ...l,o,
o+ora hills. sc. are not proper subjects for
deduction Expenses for repairs OF lnlpie-
ments tools, sc, used in business may be
deducted. ill l,.o
Ia IF the members of family have
separate incomes, the returns may be made
separately by the proper parties anu f f
tbe ;nrome of each. The parent as the
natural guardian of the minor chlld, Is
reon;red TO make return for him. But
where any other guardian or trustee mas
been appointed, the return should DE llaue
nv the latter If the minor has no guafdlah OF
trustee, he should make return hl nun II
he refuse or neglect, an independent assess
,,,ert must he made as in other cases, omit
ting penalty.
n For the purposes of the exemption OF
one Thousand dollars, husband and wife are
10 he REGARDED as members OF the same faml-
ly. though living separate, unless separated
Nv divorce or other operation OF law, so as TO
Iyoalr mn the family relation. Minor chill
1rsn and their parents should be counted
members of the same family, whether living
together or not
Is If taxpayer has minor enid III
the service of the government receiving a
salary. such parent should include in his IN
come return so much of the salary OF his
child rs is not subject to salary tax.
II Rent of a homestead actually paid
may he deducted, but the rental value OF
property owned by taxpayer Is not a
subject of deduction; but where the tax
paver rents n furnished house, that portion
of the rent paid in consideration OF the use
of the furniture should not be allowed as a
deduction.
Auv persons claiming a deduction on &C
count of expense for room rent must satisfy
the assessor that the room or rooms occupi
ed by him constitute his home, and that he
has no residence elsewhere, ana TINS oelnS
shown. he may be allowed to deduct what ne
actually pays for rent OF such rooms, ol''
nothing can be allowed for rent OF furniture
or care ofrooms When rent is included and
deducted as an expense of business, 1t must
not be again deducted as rent, nor should g
person hiring house and sub-lettlng q
oort,ora OF it be allowed 10 -sduot more than
the excess of his payments over his receipts
is Marriage fees, gifts from members OF
a congregation tn their pastori&., are taxa
BILE as income when the gifts or donations
are in the nature of compensation Tor serVi
ces rendered whether in accordance with an
understanding if that effect at the time OF
settlement, or with an annual custom.
49, Gifts of money, when clearly not ID
the nature of payment for services rendered
or other valuable consideration, are not ha
bic to taxation as income Amounts re
ceived on life insurance policies, ana dalnag
es recovered in actions of tort are eNemp'
from income tax.
90 LAWYERS and physicians may return
either the actual fees received during the
year. without regard to the time when they
accrued, or the amounts due TO the business
ofthe year. But when the taxpayer has here
tofore adopted one method, he cannot now ot
allowed to make use of the other.
81 If the manufacturer or dealer has been
in the practice of estimating his annual
profits by taking inventories OF stock, be
should take the cost value of such stock
unless he has taken the market value IN ma
king previous returns. Whichever method
has been adopted by the taxpayer should be
adhered TO uniformly.
-. If interest accrued during the year on
notes, bonds, &c is good and colleetable at
the end OF the year 1t should DE IetuIheu aS
income whether actually collected or not
%. The fact that income is devoted to the
payment of debts does not release the same
from liability to income tax
"a Ii an inventor sell his invention nj
once for gross sum, he should return as III
come the whole amount, less the expenses
actually incurred in perfecting the inven-
ton, or in procuring patent right But no
allowance can be made for the labor or per-
sonal expenses of the inventor. If he sell
only portion of his right during the year,
he may deduct proportioEate amount of
such expense.
%. Wherever the salary or pay received
by any person in government employ does
not exceed the rate Of $1,000 per annum or is
made up of fees, or is uncertain or irregular
In the amount or time, and has net therefore
been subjected to salary tax, it should be in
cluded with other taxable income Where