The Federal Income Tax Law Act of September 8, 1916, as Amended; Act of October 3, 1917, with a Summary of Law and Regulations Relating to Individuals

The Federal Income Tax Law Act of September 8, 1916, as Amended; Act of October 3, 1917, with a Summary of Law and Regulations Relating to Individuals

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1918 edition. Excerpt: ...derived from all sources within and without the United States, but this deduction shall be allowed only if such person includes in the return required by section eight all the information necessary for its calculation; Third. Taxes paid within the year imposed by the authority of the United States (except income and excess profits taxes), or of its Territories, or possessions, or by the authority of any State, county, school district, or municipality, or other taxing subdivision of any State, paid within the United States, not including those assessed against local benefits; Fourth. Losses actually sustained during the year, incurred in business or trade conducted by him within the United States, and losses of property within the United States arising from fires, storms, shipwreck, or other casualty, and from theft, when such losses are not compensated for by insurance or otherwise: Provided, That for the purpose of ascertaining the amount of such loss or losses sustained in trade, or speculative transactions not in trade, from the same or any kind of property acquired before March first, nineteen hundred and thirteen, the fair market price or value of such property as of March first, nineteen hundred and thirteen, shall be the basis for determining the amount of such loss or losses sustained; Fifth. In transactions entered into for profit but not connected with his business or trade, the losses actually sustained therein during the year to an amount Interest Taxes Losses in Trade, and from Casualty Losses Outside of Business Debts Depreciation Oil and Gas Wells Mines No Deduction for Improvements Credits not exceeding the profits arising therefrom in the United States; Sixth. Debts arising in the course of business or trade conducted by him...show more

Product details

  • Paperback | 36 pages
  • 189 x 246 x 2mm | 82g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236612051
  • 9781236612052