Vashon Island news-record. [volume] (Vashon, Wash.) 1919-1954, 1920-03-04
FARMERS INCOME
SUBJECT TO TAX
Gains for 1919 Must Be Figured
Under u. S. Law-Returns
Due March IS.
LAND SALE PROFITS TAXABLE.
Necessary Farm Espenses May BE
Deducted Special Form for Farm
lncome--cash or Aecrual
Basin for Computing.

a farmer sbopkeeppr, or iradcsman
must iignre up his net income for 1915
mud II The farm or business income
plus his other income was sufficient Ia
require nn income lax return rom.
pleie return must be llled Sitli the col.
locior o. internal revenue by March -
A fnrmer should nscerinin tile gross
income of his farm by computing all
gains derived from The sale or ex-
change " his products whether pro
luted on the farm or purchased and
resold
Farm Expenses.
From his gross lucome farmer IL
allowed ia clnrge on All ~ his neoes.
sary expenses IN the conduct OF inp
farm during tho year These Include
costs of plnntlng, cultivailng. Mnrvest
Ing and marketing In addition to
these costs be- may deduct money spent
for ordinary farm tools Of short lie
bought during the year. sucli ns shov.
els, rnlIes, etc. Also. the cost ~ feed
purchased for his live stock may he
trentcd as IN expense IN 50 fan rs this
ros represents ariuni outlay. hut the
,,an' W. W. i'l','i"''s iel 10 AM
Other fnrm expenses allowable ara
the cost uf minor repairs on buildings
thut NOT The dwelling house), on fences.
naI,, o.. ~ W." 'l,n''''hert a'so pi'ls
.,,, 1,.,, '.,''''''','s' s'"ch p"Nuers
,p,s , 60, ~ i.'s ~ VeletiharF ihsnr
,,.a 1911 VI, u"'i'lns honse)' shso-
~, 'll'i"''is lp"er una sui'urF
ann '''7 "''''' "''e pa'" lor ID
,,
-. XIX, W. ti' fr"uuctlVe
49," 49, = "v','i,'',,e eAl''nse pu' tne
t,rsa ;. " , n""sp'o ~, ser."n's' OF hell
,ia,,,n Az '"',V nv. l''e lhiil' Us IN Tree
,b,i'a.', u,e,'inE' etc'' 'nllho' ne
not ollo,yad IN claim a sainr, t,. ht,a
self or members az nts fan,lr, wh,
work on the farm.
u
p...,.. '"' '
" .''''e ~ larih iiia'u'hefN' "hg-
Vi''' 80 nni'''''a' e,e' n'so me COST
Ma so'' ,, "' t OF extension on Duiid-
- ',"', nun''''E' e'cr siioni" ne con
, r'.. w au'l'.'''lhl investments IN me
urn ', any are mol proper deductions
"s',''s' ''ieo'i,e'
~ i,'soi'"p'e ailo"ance may ne
,,.i',,'u io' "'"I ann 'ear on iarn'
,p''''i''-, tN''i" Wy 'hriihpuse''
,e''''', ',''''',inels' molh ah''nals "ae-
p's, tanNs' Wlhu'hills ana other farm
,lu,l''ne,' Nn"l Is used IN tiie con
"u,, oi 'ne iafiu'
~ y" pu'"9 anu tractors tie cost OF
'ilese y nor an eNpense' although me
Coz, roy, o. their upkeep Is an allowable
snr sarn, a ,,,,a az ~ e
for Measure Also IN srch casas 49, ia
ductInn for ,vcar and tom i ana,,.a1 Wv
-. 49, y
M, az" 1osseS'
~. i,'' 'uss " y Hro"iils crop Is nor
l'ol,'' "v''"''ioh from income' mas
,''uei' ~ li'e Nalue OF me crop had not
," "NE'' ln'o gross income me
- ~ !" nu''p,nI OF 81 machinery
III ousn S,'.'n. ,,tn,nlng' mood etc' Is
'u 'hoWuple reduction, out care should
'e uSeu 20 as ',I the correct loss
1as '',,,a MS restricted by income tax
: .''',.uis
~ p'',u',i"H ~ ailoWeu IN me case
y, 'oSs VI ahi'uals raised on the farm
como n mo an,,nais s'' ia, ~, sloSs W.
,bssod for droft ar hr,odi,g rn,,,go ~
sbrinkape in wetgbt or ye,,,o ~ fa,,,,
products hold for f,,.orama naar,.,,
prices capno, no dcd,tcto,I ass Ia San
he reason that whom sych nro,,,,ne.
ire sold the shrinl.apo viii ho ,at,ar,od
n tho selling prlee
cal. =, -
,,.. 80 az '-"''o
u" alUe VI Ssr,'u''u.hi amos mas
~ Jul'iiits u'ilne me past few
e,', = '''" uu'ilis NY many owners
- ~, l.''' W ail VI 'iielr iaiids at
N