The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-02-26

CAUSE oil returns BY those liable TO
the tar must BE- sled BY NOON on Sat
uydoy, the 2sth inst. at the latest. and
therefore any further replies you'd Dc
too tate for practical StA,fy
Fspeis~ Braache-withho1d
,N-H Nv In the case OF New jersey
corporation whose manufacturing operation:
whose sales are made In the United states
a. Is the company required 20 make a
. .mpi Sa as tr.esisins SsoSa or over BOTH
g .hs ftsi;n country and T. ,, ;hs r s,...
= i Moons tax s -,;sou. regard to nation.
..,s.a The sso '%pl ssn and 9:.;::s
eesra,ions are carried on His income q
ssiary. and commissions Is ip excess Of
he company at their New York once deduct
she IA. OF IS he exempt s,, ..,,.,
employed by same company abroad received
y 900 per month, payssIs abroad, Is The
eArough It's branch foreign ONCE,
Answer-ID only United States citi-
sens or aliens residing in the United
States are subject to the tax. The in
come OF foreigners from business carried
% In the United States Is also subject
TO the tax. but the income OF foreigners
from business carried on in foreign coun-
tries cannot be subject to the tax. even
though the business In branch OF a
United States corporation.
f2 He 10 exempt.
90 We should think not.
Lees On stoeks-Repa irs.
:sS-I. G II On Have owned stock In
about TIRE. eorpor,t,,ns Which ! bought Si IN
,s' re III, a .ae. ' M.res s AM p.s
a"is sp 20 'G IN. ,ac, .hs; pufehs:. Them prior
MAJ / deduct repairs and altera;ion. to
my nSrre, ''e a,s. ppS, s s9', him. pansn5
ssns within ns grs1 nss ten .ss:
.~ner Of the building in which I conduct
my business Ny Income is In excess Of the
irresp.cuv. OF the questions above am
sGhinE you.
Answer-G You can deduct the loss
figured as the difference between the
value of the stocks OF March I. 1919.
81 II can he established beyond a reason
able doubt. and the price at which they
we're later sold. The internal revenue
department has also, we believe, ruled in
formally that the deduction may be ng-
ured by proratins the loss over the period
involved.
,:). You can deduct repairs. malnten-
ance and reasonable amount for de-
probation, but alterations and improve
0ents are not allowable deductions
Figuring Losses.
s1s 81 r.s 70 ~ VIII, ,S
sseiessd clipping from the Boston T,snsc,,p.
ss .en to w sh.
ssxs out page and half OF dir.e,ion::
% r:as X. sS. ess'na' ssS Sycy
N, lon
sssms more fair and more sensible. but II
na,s ..s ma nsh n 70 ,ooH s,
aeeklon and thus save future trouble unless
sac has enough a. stake TO night the matter
Answes-Ths internal revenue depart
ment has we understand. ruled infor-
0aliy that the profit or loss involved in
the Transaction entered into. prior to
the operation OF the law. might be pro-
rated over the period involved. We be-
i,sva however. that IL the market price
~ TIE securities az Of March !. 1913.
can be established beyond a reasonable
doubt the method Of return that we
outlined would be acceptable 10 the
aeparmenS
sell c X. 81 II I have submitted
ny income tax return TO the collector and
and errors can / subni, a corrected one now
even though the collector has apparently
snai :,. my M H 70 mex. aS S II. s. TA
az IN the column allotted for the pur-
to ,naes any no .a.'. a%
.tthin the prescribed ten months IN the ssi.
o. ss'i Form Th 10 for Ai Hav iS'a Thu
Tour d.p.r,m.nt assume. tha, IN IN. sal.
@s.r. X. p p.rson h.. ncsfssd ,o.s "n DE-
duction can be made OF the sum;
A.ash my return questioned Or Expectancy
Answer--CD We think tina 'ou should
submit a corrected return before March !
fe) Losses from stocks should be en-
tered on line page or form 1910.
(1 II your return Is not satisfactory
to the collector II will be reviewed by
him The collectors will however prob,
ably be lenient on individuals this nrs
year.
;ss-E NJ am in buisness with two
n arins 1918 SoS:@S. Ha s s 'a
sss s s s.cS ps.,a ss~'a v: ss. ss
inventory ar.in unit, March 81, H.. an
Su !"' Si'S oSns a' TO ns.
Then again. were We 10 take stock a, thi
oasds so@ los. o. oa our M%sa
being Ne have i~y as yet shipped good
.. and have :S%: Il %.s
proper or correct return of our earning,
.n s% to s coo Or rom IL. v:
believe am exempt. One OF my partner
10 married. tho other single
Answer-You should make a. accuPat
an estimate as possible OF your net In
como for the 1913 taxable period. o
course n II was less than $4,000 you d.
not need to make = return.
tdeaas-Iasuvanes.
NC. 4. q. Your reply TO No re IN IN
Issue Of the isth lssds me to inquire ''shoul
] Include In my Income report dividend
from life Insurance, accumulation Of retur
sS 1S a spS ~: Y:ar Distribution ''r''
Answsr--We do not think that div,
denda rom insurance companies nee
- be included a. income.
stock DivtaesAs.
49, NJ g Es:a ! return a. Y