Weekly journal-miner. [volume] (Prescott, Ariz.) 1908-1929, 1914-02-11
'e reduced to simple language.

| be reduced to simple language.
First-Determine GROSS IN
COME by adding all items of in
come received. arising or accruing
within the last ten months OF the
year 1918. This gross income must
include:
First-Total amount derived from
salaries. wages or compensation for
personal services of whatever kind
and in whatever form paid.
Second-Total amount derived
from professions, vocations, bust
ness, trade, commerce or sale or
dealings in property. whether real or
personal property, including bonds,
stocks, etc.
Third-Total amount derived
from rents and from interest on
notes, mortgages and securities
(other than interest on corporation
bonds.)
Fourth-Total amount of gains
and profits derived from partner
ship business, whether the same be
divided and distributed or not.
Fifth-Total amount OF fixed and
determinable annual gains, profits
and income derived from interest
on bonds or other similar obliga-
tons of corporations, etc.
Sixth-Total amount of income de-
rived by citizen or resident of the
United States, from interest on for
eign bonds and investments and
from dividends paid by foreign cor
porations.
Seventh-Total amount of income
received from a person or a cor
poration acting for the taxpayer in
a judiciary capacity.
Eighth-Total amount of income
derived from the net earnings of
Total amount OF income derived
from any source whatever, not
specified above.
Third-Interest on the bonds of
. State and any political subdivision
IF a State, and the bonds of the
United States and its possessions.
Fourth-Compensation for any Of
icer or employee of 4 State or any
political subdivision of State. ex-
.ept when the compensation is paid
~ the United States government
Fifth-Compensation OF the pres
mt president of the United States
or his present term and the Fed
raj judges in office on October,
913.
The Allowance Deductions.
Gross income for the last ten
months OF the year 1918 having
'een ascertained according to the
method just sketched, the individ-
al may begin to figure his deduc-
ions, bearing in mind always that
n his first return he will be allowed
o avail himself of only fve-sixths
II the allowances provided by the
aw for a full year. He may. there
ore, charge off hve-sixths of
mounts represented by the follow
NJ items:
First-The amount of necessary
expenses actually paid in carrying
n business. This amount must not
lclude the business expenses of any
in which the taxpayer
! interested, or his personal, liv-
lg or family expenses.
Second-All interest paid within
he year on personal Indebtedness
{ taxpayer.
Third-All national. State, coun-
/. school and municipal taxes paid
-ithin the year mot including those
Ssessed against local benehts)
Fifth-Debts due which have been
ctually ascertained to be worthless.
nd which have been charged off
ithin the year.
Sixth-Amount representing
allowance for the ex-
austion, wear and tear of property
rising out OF its use or employ
tent in the business. In the case
mines this allowance shall not
lceed ) per cent of the gross value
the mine of the output for the
ear for which the computation is
ade. In the case OF a deduction
lder this heading for the exhaus-
on OF property, there shall be no
made under the heading
expenses for the cost OF restor-
e the property or making good