Show l INCOME TAX LAW LAWI MAY TURN OUT A 11 f Special Boi Boise e Idaho Feb 29 Inasmuch Inasmuch as the income tax la law Is forcing farmers to 10 put their farming on a business ba basis basis Un- Un I sis and to keep a record of or inventories expenses and sales it may prove to have been a 1 blessing in disguise ac according according ac- ac cording to C. C C. C Ta Taylor lor newt newly appointed appoint appoint- ed farm CarOl management demonstrator of ot I the University of Idaho extension divi divI- sion slon Any farm account should provide for Cor foran foran an 0 Inventory of all real estate live livestock livestock stock machinery feed and supplies on hand at the be beginning of oC the year car and at the end of tho the year says sas Mr Tn Tay Tay- lor br One of or his first services to the tho farmers of the state worl working through tho the count county farm bureaus and In cooperation cooperation cooperation op co with the county agents will be to assist them In e establishing such accounting systems Then he will help them interpret the figures they have kept so they wI will know just wit wh why It is that the they arc are not making tho the money they ought to be bo making making or or why they thoy arc are makIng makIng- so much Farmers will undoubtedly have o to submit income statements next year as in tho the past says sas Mr Ir Taylor and oven though no Income report were re required ro- ro by br law It would ho bo advisable ad from the farmers farmer's individual standpoint I to havo have such a a. set sot of figures ures for his own use The farm account should provide not only for Cor an inventor inventory but also for Cor a I list of or all cash farm expenses and cash I sales from the farm arm In III day book bool form Corm Just as the they occur throughout hout tho year car I Finaly it should provide for a l. l summary summary summary sum sum- sum sum- mary of or the years year's figures showing i the farm arm income and an analysis of or the strong features of ot tho the weaknesses nr r ti tho business tho the need for Cor an adequate count book the extension Tead ready has on hand an un ok fk k which will ill bo be distributed at of or Idaho will il avail a them them- of the services of oC their farm Carm ment specialist to the thc same game ex- ex I. I hll have Aavo 0 the thic farmers of or other states creased Incomes and a hl higher f rd of oC living lI on our farms may may I J y 1 |