Show INCOME TAX FACTS No It U Taxpayers In Iii the tI th preparation of their 1923 1123 tax Income-tax should note carefully the tho th distinction distinction tion between business bu ln and capital all tal expenses lire are deductible but a capital dituro may not be bo For example a manufacturer may erect orect a new building at a cost of and on It during the tho th year tom for r repairs such auch ns S painting the roof replacing r broken windows etc elc The Tho Th cost of ot the th Incidental re- re repairs repairs re repairs pairs may be bo deducted d ducted but the Ur cost coat of tho the building I Is a a a capital Invest Invest- Investment ment 1 which Is Ie l not deductible Articles that will last lut moro more mor than thana a year yar purchased for tor use uso us In busl- busl ns busl-ns ness trade or profession are aro ar con con- con considered capital Investment These Include books bought by a II lawyer ph or other professional man manI a I surgeons surgeon's ln trum or truck or I a farmers farmer's tractor Even ven hen ehen used ud wholly holly In carry carry- carryIng carry Ine I Ing on a business trade trad or profession prote slon sion the tho purchase price pric of o an n au au- au automobile au Is I not deductible If It used partly for or business and partly for sure pleAsure and the tho tb cost coOt of upkeep gasoline repairs etc missy may be b apportioned apportion accordingly and that part attributable to busi busl business ness fleas purposes deducted a as II a bust I bust bust- me busl-me no expense I l expenses Incurred In Inthe inthe the maintenance of property leased to others other may be b deducted by the owner These Tbs include premiums premium on fire insurance policies tho the cost coat of water light heat hat Janitor services and nd minor repairs |