Masonry Magazine September 1963 Page. 24
SPEED LEADS
A Simple Guide to MORE PROFITS
* BETTER PRODUCTION
* FINER WORKMANSHIP
* JOB-PROVEN
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Cadmium Plated Steel
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Tools For The Masonry Trade
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ADVERTISERS' INDEX
Let them know you saw their advertisement in MASONRY
AA Wire Products Co.
A & B Contractors Equipment & Supply
Aeroil Products Co.
Anchor Manufacturing Co.
Arketex Ceramic Corp.
C
Campbell Equipment Co.
Champion Manufacturing Co.
Clipper Manufacturing Co.
Bac
D
Dur-O-wol
E
Robert G. Evans Co. (Target)
H
Hohmann & Barnard
K
Keystone Steel & Wire Co.
M
Masonry Specialty Co.
Morgen Manufacturing Co.
N
Natce
O
Omark Industries, Inc.
P
Patent Scaffolding Co., Inc.
Pittsburgh Corning Corp.
5
Stark Ceramics, Inc.
V
Victor Di-nomic Corp.
W
West Brick Buggy Corp.
Questions & Answers
(Continued from page 23)
be so that the cost of "associated" entertainment disallowed?
Answer: Entertainment that takes place on the the business discussion will qualify. However, if the entertainment does not occur on the day of the business discussion, all the circumstances of the case will be considered, including the reasons for not having the entertainment on the day of the business discussion. For example, if the customer is from out-of-town, the entertainment the day before or the day after the business discussion will qualify.
25. Question: If I take a customer and his wife with my wife to a night club the same day that I have a substantial business discussion with the customer, is the cost of entertainment allocable to the wives disallowed under the new rules?
Answer: No. The expense is deductible to the extent it is ordinary and necessary as under prior law (see questions 26 to 30).
Expenses for Wives
26. Question: Several of the answers to the questions mention that certain entertainment expenses allocable to the wife of a taxpayer or his business customer are deductible to the extent they are ordinary and necessary as under prior law. To what extent are such expenses considered ordinary and necessary under prior law?
Answer: Whether an expense allocable to the wife of a taxpayer or a business customer is ordinary and necessary as under prior law depends on the facts and circumstances of each case. It must, however, be established that the taxpayer had a clear business purpose rather than a personal or social purpose in incurring such an expense.
Next Month's MASONRY will carry additional Question's & Answers
MASONRY September