The chronicle=news., 1914-03-03
INCOME TAX hits
AMERICAN
FARMER

| - 1850 NC - oAan~bf. ~ vssppp u
married. Ls u subject io III. issosss
iSt, ahd under the las sA.h isaisis
aAi sausi msk- sesuss 4. the islsss,
al Nssssa~ collector of Lis district
.s "r before III. first dsy of March
" lie has = ST is.oas- oi o.. .oos u,
"s-s $4,000 fns II. iss ssosshs ol
1871. whii~ the iG'sr~s, of nssl
fssss-ss In ssis sablsss b. psissiY s.a.
i-s.s.. The ii~vsssm-n, .f Asrisail,
.s- has received Inquiries isdis siiaS
that ss'sa~ ~ish io ksos lust shAs IL
required al ih~a, usa.r the ssv Lao
| The issnas ,sA i.s .f ui.t~s J.
1919. place. = iAN "s ! p-s seat ap-
so all ss, issossss at os~f Sj.so1.
-iih .s sddiitpss las 80 is.ossa. of
| s.".""S os asss-- The mr., aa-.iios
| arising N the s,isds of ss..si pro- si~
4. -hsi s"ss'i'ai-. q n-s iss.a.. t'ss
mas srss,siss . regular salary. os
. ssssin-ss sss aith . xu-sJ ssssra
.i t-ssAhr~p,ss. II l. ~ssy Tn d-i-s0-
isS sh~,h~s "s noi hi. is.oss- IL tss-
abi-. isa, f"s The farmer ~h. r--
.-is-s ao stated is.on,~. snL - ho
"firs falls I" A~~p accurate s..osss
.s sss~spss ssd ~Sr-saiiuss.. i, "
ssss,s~ dsffi.uli To calculate hh> srt
ssssmr
IL order that fssasss. ssy i.- sss.i.
81 os the lscose iss as u nss, coo.
.-ss ,h~m. TIE f.iis~ iax ,sf.rsna.
i,oa hss Iess fassi.h~d ~ ihs is.
'ssssi N-s~su- isas-sa st the Ts-As.
a'y b~i.assass'g
10 s~n~rsi. ~ in."ss- s.sstss. at
sm'rsss. derived tsos, salaries. sas.
-s. "s .omp~ssaii.s tot Ip-sssasi srs.
vice. paid In ssy tosa. sisa ssosn pso-
f-ssisss. bn.ia-~s. sales est dysiisgs
IN property. os tfum s-si.. iai~ss~s
"a hosds os mosssssr.. disid-ads oa
.isrks. az other issom~ fspm isss.i.
meats Thrsr items constitute xfns.
'seom~. from ~h,sh sh-s- .houid b.
d~slust~d The -s.p~as~p at .asrY iag ~
the business. iatrs~~' raid oa it,
d-bs~da~ss. WORTHLESS debt. charged
oft. inss~s b, fire. si"sm OF ship.
wreck. no, eos~rvd b. Insurance: ~s.
hsusaIoa. ~~as aud S~as Al psur~sty
sal aay ia.oa~ uI-ns shirh tho ia
r"m~ ias has ALREADY L~~s d~siasi~si
At tho snsif,~. -. ter Instance. disi.
i-nds ~ the s,s~k at . ~orrnI atisa
81 hitch has sis-si, paid the iaS "a II.
-arn'ng.
The pf", isi"ns r~xafiine n-i IN
comes of Si.""" Apply osiy Z. un.
married persons. OF &. married per
.,p- not ii,iax vita wife rr husband.
\ husband aud ~if. i,,inx together
ate entitled to an exemption cs -.
""" on their Aggregate inr"nIs. Tai.
.@rarat~ income. u ihi. added io the
husbands inson- smosints To- .aOn
the total is subject so tn" ;a>. or. II
the ~if~ has no separate Income. the
husbands incom" I. taxable only In
ease u rrash~. Si.""" Int y return
mus, be made u the aggregate In.
come OF both I. 9:.;a" for the year
isis. Tho Joint exemption. how
ever. would he S3.ss5ss.
In arriving at MS net income tn,
farmer should start with hi. .ro.e in
come. This would consist Of an,
items OF the Kind atsp,c enumerated
and especially all receipts from tn,
sale of products OF every description
from the farm Thi. would includ,
all money received for produce an,
animals cold. aud for the wool an,
wool and hidcs are sold. hut he ma,
i,duct from these ttcms the amount,
actually raid n. purchase money 70,
the animals sold or slaughtered dur
Ing the year When the animal,
raised by the owner are cold oi
slaughtered. however. their Nalu,
should not he deducted.
From the Errss income thcr,
should be deducted amounts o; none!
actually paid n. expenses for opcra,
ing the farm aud producing the farm
products. live stock. etc. This ~cul,
include hired farm labor. farm sup
plics purchased that are necessary &
carr. on the business and not an In
ve.smcnt that represents principal
etc. Expenses for repairs on farm
property may be deducted. provide,
the amount deducted does not excee'
the amount spent for such repair
during the year for which the returI
is made The cost OF replacing tool
OF machinery may also be deductc,
to the extent that the cost Of the ncv
article docs not exceed the value @
the old. No deduction may be mad
for the Cos, OF additional farm me
chincry. but credit may be al'o~e'
for the annual depreciation in tn
value OF such machinery. For exam