Masonry Magazine November 1963 Page. 8
Questions and Answers
FOR THE BUSINESSMAN
Travel, Entertainment, and Gift Expenses
The purpose of this Revenue Ruling is to answer a series of questions relating to the provisions of the income tax regulations promulgated under section 274 (except for subsection (d) thereof) of the Internal Revenue Code of 1954, added by the Revenue Act of 1962. Each question is designed to present, in relatively simple terms, a point of law of general interest to taxpayers, and individual questions should be read in the context of other questions and answers which follow or precede.
This month's MASONRY continues the Question & Answer series relating to provisions of the income tax regulations.
61. Question: Can use of a facility for business entertainment or any other business purposes which are ordinary and necessary, although not constituting "directly related" entertainment, be used in determining whether the 50 percent test is satisfied?
Answer: Yes. All ordinary and necessary business use will be considered in showing that the facility was used more than 50 percent for business purposes.
62. Question: How would I determine primary use in the case of a country club or a yacht?
Answer: One permissible method is to establish that more than 50 percent of the total calendar days of use during the year were days of business use.
63. Question: What is a day of business use facility?
Answer: If the primary use of the facility during the day is an ordinary and necessary business use, as to prior law, it is a day of business use.
64. Question: If I have a substantial business discussion (see questions 22 and 23) at the facility, is it a day of business use?
Answer: Yes, even though most of the day at the facility was used by you or your family for personal use not involving entertainment of others.
65. Question: Are days when the facility is not used to be counted in determining whether the facility was used more than 50 percent for business purposes?
Answer: No. For example, if a facility was used only 60 days during a year, the 50 percent test would be met where 31 days were days of business use.
Your laborers can move loads like this with a PRIME-MOVER MASON TENDER
Here is a basic handling device for mason contractors that handles either packaged brick or palletized brick also stone, block, tile and mortar. The two-section mast raises the load 7' 6" (8' 6" optional). It retracts to clear the doorways, and tilts to engage, carry, and discharge loads. This machine is made to traditionally high Prime-Mover standards for long, trouble-free, profitable performance.
Ask your dealer to show you how easily your hod carriers and laborers can operate this new Model L-812 mason tender. You can use this machine on all of your jobs to cut costs of handling all sizes and shapes of masonry materials.
View of Prime-Mover L-812 on the job. Handles either packaged or palletized brick. Operated by dependable 7 h.p. Wisconsin engine. A heavy duty trans-axle drive powers the front load wheels. Rear wheels are direct steered by a combination steering and clutch control.
PRIME-MOVER
Made in Muscatine Iowa
DEPENDABLE PRODUCTS MADE AND SOLD BY PEOPLE YOU CAN RELY ON