Prentice-Hall Tax Service for 1919 (Classic Reprint)Excerpt from Prentice-Hall Tax Service for 1919 This allowance is not based upon the difference between the actual war cost of such facilities and what they would have cost at pre-war prices. Obviously the taxpayer is not entitled to recover or extinguish through amortization more than the difference between the war cost of such property and what he can sell the property for after the war, or if he continues to need and use it in his business, what it would have cost him after the war. As the rule is expressed in Article 183 of the Regulations: The total amount to be extinguished by amortization, in general, is the excess of the unextinguished or unrecovered cost of the property over its maximum value (either for sale or for use as part of the plant or equipment of a going business) under stable post war. Conditions.' About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works. |
From inside the book
Results 1-5 of 100
... cost of capital assets is being recovered through deductions for wear and tear , deple- tion or obsolescence any expenditure ( other than ordinary repairs ) made to restore the property or prolong its useful life should be charged ...
... cost or its fair market value as of March 1 , 1913 , if acquired prior thereto , may be deducted by the owner in the taxable year in which the stock was ascertained to be worthless and charged off , provided a satisfactory showing of ...
... cost or fair market value as of March 1 , 1913 , of the original property , as the case may be . If the market value of the bonds is less than such cost or value , the difference represents the cost of the stock . If the market value of ...
... cost or value at March 1 , 1913 , if ac- quired before that date ( after making proper provision in either case for depreciation to the date of the loss , damage , or trans- fer ) of the original property , plus the cost of any actual ...
... cost of such property demolished or scrapped and the amount of a reasonable allowance for the depreciation which the property had undergone prior to its demolition or scrapping ; that is to say , the deductible loss is only so much of ...