Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1867-04-12
INCOME.

his return.
+. \. Rollins. Commissioner.
INCOME.
/. Tie farmers profits from sales Of live
stock are to be found by deducting from
The gross receipts for animals sold the -pur-
chase money paid for the same.
2. No deduction can be made Ivy the far
rner 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 COM
pensation for their labor, they are to be
regarded as other hired labOrers in deter
mining his income.
3. Money paid for labor, except such as
il used or employed in domestic service, or
IN the production of articles consumed in
the family of the producer, may he de-
Quoted.
4. No deduction can be allowed in any
case for the cost of unproductlve labor. If
house servants are employed a portion OF
their time IN productive labor. such as the
making of butter and cheese for sale, a
proportionate amount of the wages paid
them may be deducted.
5. Expenses for ditching and clearing
new land are plainly expenses for perma-
nent improvements. and not deductable.
G. The whole amount expended for fer
tiiizers applied during the year to the far
mers lands may be deducted, but no de-
AUCTION is allowed for fertilizers produced
.1n The farm The cost of seed purchased
Tor sowing or planting may be deducted.
7. Farmers will not be required to make
return of produce consumed in their own
immediate families.
s. If q person sells timber standing, the
profits are to be 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 val
ne Of the land on the first day of January
1862, or on the day of purchase. If purchas-
cd since that date.
Q. \ farmer should make return of all
his produce sold within the year, but a
mere exccutorv contract for a sale is not a
sale: delivery. either actual or constructive
Is essential The criterion by which to
Judge whether 4 sale is complete or not Is
10 determine whether the vendor still re-
iains in that character right over the
property-if the property were lost or de-
stroyed. upon which of the parties, in the
absence of any other relation between them
than that of vendor and yendee, would the
loss fall.
TO- Taxpayers frequently claim deduc-
tions for loss from depreciationdn the val
nc of stocks Or other property of like ma
ttne. No deduction can i'll any case be al
lowed for depreciation of value of such pro-
perty until it is actually disposed of and a
loss realized.
H. Costs of suits and legal proceedings
arising from ordinary business are to be
treated rs other expenses of such business,
and may be deducted from the gross pro-
fits thereof ..s
PHYSICIANS.
u. Where physicians are obliged to keep
4 horse for the transaction of business,
they may deduct so much of the expense
so incurred as is fairly referable to the bu-
siness done
10. Expenses for medical attendance,
store bills, &c., are not proper subjects for
deduction. Expenses for repairs of imple-
ments, tools, &c., used in business may be
deducted.
Il If the members of family have sep
arate incomes, the returns may be made
separately by the proper parties, and IA
table proportion of the $1,000 exempted
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 guard
ian or trustee, he should make return him
self. If he refuse OF neglect, an indepen-
dent assessment must be made as in other
cases, emitting penalty. .......
10. For the purposes OF the exemption OF
one thousand dollars, husband and wife are
10 be regarded as members of the same
family, though living separate, unless sep
arated by divorce or other operation OF
law. so as to break up the family relation,
minor children and their parents should be
counted members of the same family,
whether living together or not.
To- Ii taxpayer has minor child In
the service of the government receiving a
salary, such parent should include in his
income return SO much of the salary of his
: child as IS not subject to salary tax.
IL. Rent OF a homestead actually paid
may be deducted, but the rental value o.
property owned by tho taxpayer as not s
subject of deduction, but where the tax
payer rents furnished house, that portion
of the rent paid in consideration O
r the use of the furniture should not be
81 allowed as deduction. - .,,...,.. ....
Any person claiming deduction on &C
= count OF expense for room rent must salts
fy the assessor that the room or rooms oc
cupled by him constitute his home, ant
7hnat he has no residence elsewhere, en-
. Ehls beng shown, he may be allowed to de
Il, aheI, what he actually pays for rent of sucl
- rooms but nothing can he allowed for rem
OF furniture or care pfsroemss q, When 9rep
is included and deducted as an EXPENSE @
business, 1T must not be again deducted a
rent nor should person hiring hous