The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-12-03

come bslonEing TO minors other persons tor vhem
amount 81 ,uch moons sftsr dsdaetns snoh San. :,
% g,S' an s s ., .SI
s.n.9cl.fy q trust ss..p. ggon ,hs sts,.m.ni
& nsy G Ss S: ss @ which
The reporter heard OF an incident IN which =
position IN a banking house OF this city got
himself into no end OF trouble because, having
could not Srs 5m year sttornsg To-
keep him Informed on ali the dips, spurs. and
tive Of his was so fortunate as to own a num-
her OF shares OF a Nevada mine which was
tive went to Europe and LETT bis shares Of
stock with the young bank clerk to collect and
remit the monthly dividends. which were psya-
former heard Of this fact, and 70 the Innocent
tion, he was one day required to give q sharp
account Of himself. and to this day be-
iSsHee Of tho head e OF the s'G BANK that he
was not transported to the Dry Tortugos
Il is possible that his youthful imegina.
law did not contem plate but any way that
man. now no longer a clerk. md OF some con-
compunity, although respected member Of
fashionable church. can revive some weird
protanity Of the season OF tue sixties at mere
mention Of an Income Tax law.
II is nothing less than amazing In reading
United ststos assessors eoneerning the assess
mont OF income taxes" to see with what per-
slstency people engaged In any kind OF Invest
dence Of this has already been given in the
case OF the farmer who was obliged to pay an
ing or roclaimlng land. Here is another hint
TO the assessors. sho wing that the city resident
.ms no batter on IL this TssPeGs than the
contained in series 4, No. 4. issued by the Com
missioner OF Internal kevenue. are quoted ver-
be very apt to be doubted by readers unfa-
milisr with the peculiarities Of that law:
~ AmoT ,G,n expanded By the parchs;ct Of build.
to his purcha.e are 40 tar he concerned better
'Se SLOWED a. from S IL Sna
,hn sI9 = sssd for term OF year, under
on the title to which subject to the OF the lessee
sSpense Of sssetnu N. san ve' IN Inc Sr. 's
the lessor.
Under this last rule It would seem as II
lessor would be rather shy about loaninR
personal property tax on the mortgage on
tax on the, same money. although the thing
Tor which that money was expended might not
There were very few loopholes In those in-
structlOns. For instance, 1t was specified that
TeGS to GS taxed fees
some very fine figuring was imposed upon the
unfortunate taxnayer under the Income Tax
from the, series Of Instructions Just
quoted. That permits a physician who
Business to deduct from his i income, on ac.
count OF the horse, only TINT proportion Of the
total cost OF keeping the horse represented BY
the am cunt OF work tho horse performs while
used BY tho physician In his professional prac-
tice II downtown doctor had n call to visit
u patient In the vicinity OF the Park, and then,
having prescribed the necessary pills. thought
that his own health might be benefited by a
be obliged. when maxi q u HE little romance
for the income tax assessor. to figure how
much OF that tri was necessary in his profess
sional duty and how much Of 1t was taken for
his own pleasure. recreation. or health. Now.
that statement may sound SO absurd to some
that the little rule is hereby quoted:
tn. transnctnn of 6usinc.. III ma dednct :" mach
OF the EXPENSE incurred ss Is fairly tsersbls 80 the
business done.
A peculiarlty Of all tho instructions issued
under this law IL that they assume that as
SCISSORS are e. meet with equivocation and oya-
sim s y not peEnrS A business lawyer who
Tax law is referred to. even. spoke Of this
feature OF It, ami called tho reporters atten-
next prev ous to those quotsd rbove. Tho rule
which this lawyer made specin comment on.
the spirit Indicated thereby. is as follows: "''D
az Assessors should be careful not to allow tho de-
dnction ., amounts claimed % haye been los, in bus.
Vesim-nts or expenditure. as wien msrcGNnt- sx.
pend monsy IN farming gardening Tor recreation or
Adornmsnt rather than pecunIhry pront
THAT law" said this lawyer. made my
hair gray. As recall now. there was scarcely
day that soms OF my clients in business
would not call on me in n st tie OF frantic rage,
wanting to know II there was ANYTHING con-
nected with their or their families private nf-
fairs which II was not necessary TO he fully
divulged TO the income tax assessors. From its
enactment to its repeal IL was the cause OF con-
slant friction between the business community
and the Government officials. In my opinion.
as u business lawyer. that was its very worst
feature. Business men. especially in New
n%rK; the GrrHt imnoISinSE G cen have vast
and 1t Is essential that those relations should
he carried on with the same degree OF good
faith and good understanding a. exists be-
tween two merchants. for instance in the dry
goods districts, When that income tax was
on our statute books the business community
grew to look upon the Government mot as
something OF the peoples creation. but rs
something devised by the devil 70 hsrass and
annoy them, That is not healthy or o safe
state OF affairs"