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 63
... ending on the last day of any month other than December . No fiscal year will , however , be recognized unless before its close it was definitely established as an accounting period by the tax- payer and the books of such taxpayer were ...
... ending in 1918. - Where an individual has kept his books on the basis of a fiscal year , the regulations require that he file a return for the fiscal year ending in 1918. Since 1 under the law applicable to the calendar year 1917 ...
... ending September 30. This return must be filed for the fiscal year ending September 30 , 1918 . If his income for this period was $ 10,000 and he is married the tax on this income will amount to $ 830 . He will pay three- fourths of ...
... ending in 1918 and pay such a proportion of the tax for a full year at the 1918 rates as the number of months falling within the calendar year 1918 is of the full fiscal year . Thus , if a cor- poration has kept its books on the basis ...
... ending in 1918. Should the corporation sustain a net loss in the fiscal year ending in 1919 which it is permitted to deduct from the net in- come of the fiscal year ending in 1918 ( see page 481 of the Tax Book ) the deduction must be ...