| Show YOUR INCO INCOME IE TAX I IJ 1 No l J 1 The taxpayer nu mU t include in his inc income me tax return f r the year ear 1924 aU all items of gross in mo me specified by bylaw law lair In the case of a storekeeper gross ross income usually consists of or gross profits on on n sales toge loge her with income from other sources Fhe e a return must must show the 1 gross Tf Tfx x sales nl sl purchases and cost of goods sold he professional man lawyer doctor dentist must include all aJI fees and thC ther compensation compensation compensation tion received from p pi services services services ices The farmer mus must report as gross income the tho proceeds f sales or ex- ex exchange ex exchange change hange of products rayed raped d on the farm or whether purchased by him and aud re- re resold re refold sold fold He lie must report raf also gross in- in income income In Income come from all aU other sources such as rentals or profits from fron from the sale of farm lands j I jNet Net income upon w the tax is assessed is gross intone less deductions for busin business ss expenses losses bad debts contributions etc To take fu full advantage of the deduc deduc- deductions deductions deductions to which ed taxpayers ers should read carefully t tie e instructions on the form under tho the heads of In In come from business o or profession |
