Ogden Standard-Examiner | 1927-01-27 | Page 4 | Your Income Tax

I Your AI Income Tax Vo Xo co iiA 11 ii A person may may receive tor for his llis compensation other than I money that Is subject to the In- In Income In Income come tax I The Tho fIr fair market value alue of or the tho thin thing taken In payment I Is the amount to be Included as os Income or For example It if 1 a cleric in a gro gre- grocery cery store receives as ns part of ot his liLi wages groceries or provisions pro the market value of ot the tho merchandise must be bo reported by him hint as In- In Income Income in income come Compensation paid pall an eni- eni ot of o a corporation in shares ot of stock Is to bo be treated as it If the corporation sold the tho stock for tor Its market maket value alue anti and paid him In cash Promissory notes received In iii InI payment for or services and not as os security for payment constitute income to the amount or ol their fair market value A tax tax- taxpayer taxpayer tax taxpayer payer receiving as os compensation ft 0 note nolo good for tor Its face race value at maturity but not bearing Interest may treat as tiC income Q i a-i of ot the Iwo oC ot receipt the fair fall discount discounted ed cd value alue of ot the note at such time It If the payments are ae met as they become due these should be In- In in included eluded as Income in respect to 10 each such payment so much there thero- there there-jat ot of as represents recovery reco for the discount deducted Board Doard and lodging whon I fur fur- furnished 01 as n compensation for tor or serY- serY icca rV- rV ices must ba lie included d au us in nine Thus a hotel clerk elerk who I is ii in i 1 zoom loom mid and meals 1 r ri p-ri m CI I for tor his hIli services service n a ur r inn fair I II I rail fair value alue of or iu jui n ii in r n in 10 m mi I tax las