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About The Alliance herald. (Alliance, Box Butte County, Neb.) 1902-1922 | View Entire Issue (March 9, 1920)
FAGE SIX TIIE ALLIANCE HERALD, TUESDAY, MARCH 9, 1020. TRADESMEN AND SHOP KEEPERS MUST PAY TAX A farmer, ehopkoeper, or trnrtmnn Wt figure tip his net Income for ad If the farm or bunlneas l.ncomc fiaa hla other Income waa mifflrlent t : require an Income tax return a com '.ftota retirn must be filed with the col. Sartor of Internal revenue by March 13 A farmer should ascertain the grout laconic of hla farm by computing all tgalna derived from the aale or ex. . ang of hla products, whether pro '"faced on the farm or purchased nn4 ifsaold. Farm Expense. 1 From hla Rrosa Income a farmer li ' allowed to charge off all of his necest 'jary expenses In the conduct of tin MUm during the year. These Inclndl ,Mts of planting, cultivating, li arrest, itaff and marketing. In addition tq sliese costs he may deduct money spent ifor ordinary farm tools of short lift fought during the year, such as Bhov. - 'da, rakes, etc. Also, the cost of feeV, - Bvrchased for his live stock may M I treated as an expense In ao far as this Coat represents actual outlay, but tin ' Talue of his own products fed to anl- 'Bials Is not a deductible Item. Other farm expenses allowable ar - 'the cost of minor repairs on bnlldlnpt ' fbut not the dwelling house), on fences, 'wagons and farm machinery; also bllU i .ld for horseshoeing, stock powders, -rock snlv, services ff veterinary, Insur. ,nce (except on dwelling house), goso. . 'line for operating power and sundrj $thcr expenses which were paid for In cash. As to hired help, all the productive labor Is a deductible expense; but tin twages of household servants, or helj v'Mred to Improve the farm,, as In Irei . .planting, ditching, etc., cannot t ' claimed against earnings. A furmer li not allowed to claim a snlnry for him ' 'elf or members of his family win work on the farm. j. Wear and Tear. Purchase of farm mnchlnery, wag oris, work nnlmals, etc., also, the cost f construction or extension of build tags, silos, fencing, etc., should be con aldered additional Investments In tlx "farm and are not proper deduction! . against Income. A reasonable allownncc mny b claimed for wear and tear on fnrtt buildings (except the fnnnlmiHi) ' fences, machinery, work nnlmajs, wag- ns, tnnks, windmills and other farm .equipment which Is used in the con v-oct of the farm. As to nutos and trnctors, the cost of .these Is not an expense, although (be coat of their upkeep I an allowable deduction, If the machines are used ex delusively for form purposes and not ifor pleasure. Also, In such cases, a de duction for wear and tear is allowed. Farm Losses. , The loss of a growing crop Is not a jwoper deduction from Income, InaS' ooch as the value of the crop bad no ifeeen taken Into gross Income. Tl lost of a building or of machinery 'through storm, lightning, flood, etc., la JB allpwable deduction, but care should, psed to ascertain the correct loss nstsTneiT. as iratrtcteT fy mcome fax regulations. ' No deduction Is allowed In the ease of loss of animals raised on the farm, but a loss Is deductible from gross In come lr the animals nnn ieen pnr chased for draft of breeding purposes. Shrinkage In weight or value of farm products held for favorable market prices cannot be deducted as a loss, for he reason that when such products are sold the shrinkage will be reflected In the selling price. 8ate of Tarma and Land. The value of agricultural lands hai been Jumping during the past few years, and during 1019 many owners old out part or all of their lands at big profits. All such gains constitute Income and taust be taken Into the net Income for the year. Any person who sold part of a farm or ranch, or part of a parcel of land. must also show any galna realised by the sale. The method ef figuring gains and losses on such transactions la pre sented In the Income Tax regulations, copies of which may be secured from Internal Revenue Collectors. Forma for Returns. The Internal Revenue Bureau has Issued an Improved Form 1040F for the use of farmers. This form, to gether with Form 1040A or 1040. will give the farmer explicit Information as to how to property figure his net Income for 1010. There are two methods of figuring a farmer's Income tax return this jear. lie may make his return on the basis of the difference between the money and goods received for bis products and the cash paid out for actual allow able farm expenses within the yenr. Or he may muke bis return on the ac crual basis, which tnenna computing the receipts nnd expenses that pertain to the taxable year, excluding Income earned nnd expenses Incurred In pre vious or succeeding yet;rs. 92.50 a year and worth more. I1.VSKKTI1A1.L. TKAM OCT FOIl A WHIRLWIND FINISH The Alliance quintet left for Ray ard to play the Dayardites a return game tonight. The locals returned from Lincoln with more pep and de termination to finish the season in a whirlwind fashion. Thursday night they play the fast Chadron normal aggregation, and then close the sea son with a double-header with. Mor rill, both boys and gins. Deshler, which defeated the Alli ance team in their first and Only game at the, atat tournament, out classed the locals In their ability to make long throws, making three the last half and overcoming the lead of Alliance In the first half and winning the Initial game of class "C." Deshler went down ot defeat before Dunbar In the second round. Dunbar de feated Alliance In the second round last year. One western tea mbrought home a trophy. Kimball was In a class lower than Alliance, but they had a hard game with Ansley. After that they were the favorites in class "D." This year there will be more activ ity in spring athletics. All western schools ar In favor of a track and field meet. Alliance will do hr share in being represented and in copping her share of the medals. HAVE IT WELDED with the OXY-ACETYLKNK PROCESS Clylnder Blocks, Frames ami Transmission Caes a Specialty George II. Breckner Tlio Old Weaver Garage "Here we arc, in tip-top sliape" -Chesterfield "WES, arid that's the way Chesterfields always arrive crisp, ficsh and in prime shnpe for smoldng. It's the extra wrap per of uioisiure-proof paper that docs it. Your Chesterfields never become too moist cr too dry. u to mm I 11 1 Mi litm-iV-i intiirtf"iiinirfHi1r lillni mi I iflwrw. I i i v ' 11 11 1 l..i,..iJy 1 '11 iV-?" ted fed 3 Z3 3 ml Thrift in Youth-Comfort in Old Age If. while you are young and earning plenty of money, you will put 'a part of it in this Hank each week, w hen old age comes you will have a true friend to take care of you bring ing you comforts denied the less thrifty. "We have Bcvcral plans, each one with some special point of interest, but all ending with a good balance in the Bank for youproviding you follow through to the end of the plan you select. Stop in any time and talk it over with one of our officers. Savings Banks For Individual Use For the convenience of our Savings depositors we have secured these Small Steel Banks for home accumulations. These will be given away to each of our patrons in the Savings Depart ment and also to these who open a Savings Account They make & simple and effective means of keeping odd change until it assumes enough size to deposit. They will be dis tributed beginning SATURDAY MORNING, ri-55SC:iSSa march era 1 FIRST STATE BANK -4 2 n ri n n n .m m m Mm Good workmen can do better work and do it more quickly if they have Good Tools. A poor cutting edge not only makes it impossible to turn out a perfect job, but it means harder work and more time used than necessary. Our Tools are made of the best steel, properly tempered and finished, so you can feel assured of absolute satisfaction with every piece. Stanley Bit Braces - Everlasting Chisel Set, 6 in roll - "Yankee" Breast Drill - - Screw Drivers - - Nail Hammers - - - Bailey Plane No. 45 Atkins Hand Saws - - - $1.00 to $6.00 - - $7.75 - - $8.25 25 to $3.50 $1.60 to $2.00 $14.50 $1.75 to $6.00 CEMENT AND PLASTERERS' TOOLS I1! Dependable Quality Lumber The one most important con sideration in buying Lumber is the Quality. The labor involved in Build ing is often greater when poor Lumber is used, and the life of the building is short ened materially. Compare the prices on our dependable Quality Lunjber with what you will have to pay elsewhere for an inferior grade and then build for permanency. Forest Lumber Co. Mi il li mm . i i't