The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1914-01-15

| certain deductions are allowed on &C
count of necessary expenses actually
paid in carrying on business; interest
paid within the year on personal in
debtedness; taxes, not including those
assessed against local benefits; losses
incurred in trade or arising from
fires, storms o. shipwreck and not
compensated for by insurance or 9th
erwise; debts charged off as worth
less, and reasonable allowances for
the exhaustion, wear and tear Of
property arising out of is use or en-
ployment in business. Under the head
of expenses, those incurred for medi
cal attendance, store accounts, family
supplies, wages of domestic servants,
cost of board, room or house rent for
family or personal use cannot be de-
Quoted from gross income. In case
an individual owns his own residence
he cannot deduct the estimated value
Of his rent. neither is he required to
include such estimated rental of his
home as income. The farmer must
include all moneys received for prod.
ucts and animals sold and for the
wool and hides Of animals slaughtered
provided such wool and hides are
sold, deducting there from the sums
actually paid for the animals aold or
slaughtered. In the cause Of profess
sional men. all fees or emo,uments
received during the year must be in
Guided. together with unpaid accounts
for the year which are good and col.
lectible. Debts cannot be regarded
as worthless until after legal proceed
ings to collect them have proved
fruitless or 1t clearly appears that the
debtors are insolvent. Pensions from
the federal government are to be In
cluded as income. Estimated advance
in real estate is not required to be
creased value Is taken up on the
! books OF the individual IS an increase
, of assets. Costs of suits and other
, legal proceedings arising from ordin-
airy business may be deducte,. from
: the gross income for the year in which
n such costs are paid. The compensa-
! states or politica. subdivisions there
: of is excluded in computing income.
r Unmarried individuals or married
n persons not living with wife or hus.
r band are allowed an exemption OF
r $4,000 but when husband and wife live
n together they are allowed jointly q
8 total exemption of $4,000. They may
|. make a joint return, both subscribing
# thereto. or. II they have separate in
comes, they may make separate re
3, turns, but in no case will they be
|, permitted to claim jointly more than
4; $4,000 exemption Of Their aggregate in
been deducted and withheld on any
part of the income of an individual
at the source, or If any part Of the
income is received as dividends upor
the stock or from the net earnings
of any corporation, etc, which is tax
able upon It's net income. such in
come. In case the normal tax has
dividual's total net income for the
purpose OF calculating the amount Of
income on which the individual is II
able for the normal tax of / per cent
by virtue of the individual return.
The return is to be filed with the
collector of internal revenue for the
district in which the individual re
sides II he has no other IIace of bust
ness, otherwise If the district II
which he has principal place Of bust
ness, or in case the individual reside!
in foreign country. with the collect
or of the district In which his prin
cipal business is carried on in the
United States. Failure to file the e
turn within the time specified subjects
the person SO falling to fine Of from
$50 to $1,000, and in case of refusa
or neglect to render the return with
in the required time, 80 per cent will
be added to the amount of tax assess
ed. In case of false or fraudulent re
turn 100 per. cent viii be added an,
any person required by. law to make
sign or verify return who makes an,
false or fraudulent return or state
ment with intent to evade the asses
ment is declared guilty Of misdt
meanor and may be fined not exceed
ing $4,000 or imprisoned for nor NOR
than one year, or both, at the dis
erection Of the court, besides payin
the costs of the prosecution.
Since the appearance of the reguli