Ogden Standard-Examiner | 1927-01-30 | Page 38 | Your Income Tax

Your S Income Tax YOUR sow OUR INCOME TAX TX NO H 14 H Tile The Th rev nue act at of ot 19 pro pro- pro Tides that In determining net In- In Income Income In Income come there her shall be b allowed in- in certain specified deduc deduc- deductions tlona from gross cross Income such a business expenses losses Interest paid bad bid debt i depreciation rent rent contributions etc Deductions DeduCtion for business ex- ex ex form the th largest Items In Inthe inthe the returns return of many taxpayer Such deductions must have certain certain tam tain qualities to be allowed They must relate to a business business trade profession or vocation In which ft a taxpayer ha ba haa Invested tim time and money for tor th the tho purpose of ot a live livelihood or profit A taxpayer may conduct more then than on one tiu bu ne a and and nd claim a for the busIness expenses expense of ot each 1110 pro pro ded he be h devotes time and attention to each cacho Typical al exp expenses of ot a tile mercantile establishment are T amounts paId for advertising hire of ot clerks and other employee rent lIght heat hed water telephone Insurance and delivery ry expense The ex- ex expenses ex expense pense or of o a manufacturing manufacturing- busi bus ness Include labor raw material supplies repaIrs repair light and heat heat power selling costs cost cO tJI tra- tra Lion and sImilar charges A A professIonal man such uch as a lawyer lawer doctor architect etc may the th cost co t at o r supplies used In his practice expenses expense cl paid In Inthe Inthe Inthe the operation and repair of o an automobile used In Sn making pro pro- pro professional calls dues duel to professional societies subscriptions to journals office rent rent cost of light fuel water and tele- tele telephone telephone phone used In his office and the tho th hire Lir of office offic assistants The farmer may deduct all amounts paid In the tho th production harvesting asS and marketing ot of crops cropo G labor cost of ot seed ed and fertilizer used colt of ot minorI minor r I pairs pair to farm buildings buIlding other than dwelling dwelling- and small tools used up In th the course ot or a year or two