Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1913-07-17
POKER WINNINGS
ASSESSED BY
INCOME TAX
New Bill Full Of Rebates and
Checks and Cells for Con-
siderable Close Figuring.

WasW gton. y. g.. july i5rhc
inopmo IS provision ~ the new mrI
hl az u was amended hy the senate
b nn appalling nnd fcurs1mc collec.
ton of tcchnlunliilos
Tho public "a large need not hc pui
t0 any worry about il until january T.
next. ana then viii have taree months
In which {, aght " oui with their com
sciences 90 90 how much OF their nc.
tual income thcy viii return for tax
alton. rho returns are Co be made
this year for the last ten months ~
1918. and thereafter 90 he made FOR
the full calendar year.
~ YOU have an income Of S2.000 Tor
those ten months or less. YOU need
rot worry II YOU are an unmarried
porsnn and the income H. over that.
get ont your pad and pcacil and bee
sin a. figure. nut 10 you are married.
YOU need not take notice unless youf
income Is over 81 .O00. and lf you have
one child IN addition 90 the wifi. not
unless your income b. over S4.500
ana u there are two children. $4,000.
But here the exemption on account
nf children stops The man with ten
children gets no extra rebate. AL
though their upkeep diminishcs his
income.
Tine rule about corporations ~ dif
fcrcnt and this article deals only with
ersous having incomes under te0
100. Others Would hest consult their
lawyers II they want 90 KNOW tho
opcs
suppose YOU urc unmarried with un
income reaching more than $4,000 FOR
ho last tcu months of 1913. You VIII
luy / per cent on an the income Ia
Xccss of that $4,000. o. married. and
,o children. YOU viii pay l per cent
IN AN In excess 81 50 900 to 10000
when the law claps On little more
tax.
Income means gains from whatever
ourcc derived " you are "a profess
ional man. then fees from your prac-
1 Ice are included, salary. rents from
our houses. dividends from your
,tocks. nil must De Jumped 90 show
our net income. " you made
lucky turn In the stock market or
anne out ahead In q yours opening of
| lackpots you must turn Ia the ac-
| ounting Auction bridge counts. too,
! { YOU win. hut your losses Will not
inset income from your salary.
10 YOU are merchant YOU viii be
! flowed To- offset the money YOU pay
our clerks. your rent light. etc. hut
| on can not charge o0 on your books
| INVITING ON account Of your own time
| 10 services rendered la your business,
lor expenses of your household
! n YOU own property sou will Dee all
j
| axes. etc. from your rents So as to
how the net Income
n you came into life Insurance 10
IS not taxed until you invest &C. and
then the income is taxed. Interest on
money IN the bank must hc included
IN your other income and hc taxed
| ~ your income is from GALAXY
YOUR employer must take the taN ou'
of your pay envelope some time dut-
ing the year aGd urn il In. The gov
eminent calls this collecting 90 the
| source" In addition. YOU VIII nave
,o make statement showing what
other sources Of income Won have
whether your uncle lei, YOU "a legacy
or something Hike that.
If the collector of Internal revenue
gets an Idea that you are not making
fuli return hc can ada N1O,Vbu ol
100. GOO rs he plenscs Ca your sup
posed income and force YOU to go In
court aud reVeal your true incom'
/ ,o az To be relieved from the tax TN
ollector hus pat on.
IN. penalties for false returns ar'
| leayy. ln hnc and imprisonment th'
dea Of the lawmakers being "a i'm
| press upon the paying public the the
~, that honesty Is the best policy
lChecks and counter checks gnlor'
, | ,rcynu the idea being to reveal ,h'
cal income of every taxable citizen
you own stock n rorporntol
, ! which paws dividends. that corpora
loan notifies the collector and " yo'
lon't make proper return to that ~
, ! Get iu Your own declaration YOU arr
. | liable Go hc caught
Tho collection Of the income tax th
: irst year for the whole country
. stlmated 90 cost ehuL Si,20o,0oO an
win require hard work hy an the in
crnal revenue officials.