The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1913-02-27
NO OATH REQUIRED THIS YEAR
Income Assessor Has Lot to Say in
Regard to Exemptions - Personal
Property Taxes Paid this Year not to
be Regarded as Exemptions.

has issued his annual letter Of instruc-
tions to the people in regard to the
income blanks and he has made an eff
fort to clear up all the difficulties
connected with the new blanks. The
letter is as follows:
If you are in doubt about a ques-
ton write or phone to the assessor
of incomes. No oath is required this
year, but a simple declaration, the
signing of which must be witnessed by
two persons, not members Of the tax
payers family.
Every question should be answered.
IF there is no amount or information
to be given opposite a question write
(" None,o Nothing or mil" All
returns should be filled out with ink
or typewriter.
Exemptions: An individual is en-
titled to an exemption Of $500 hus-
band and wife, $1,000; for each child
under eighteen years of age, 5000; for
each other legal dependent Il. c., an
invalid child over eighteen years of
age, father or mother of taxpayer,
who is entirely dependent upon the
taxpayer for support, 5000.
Profits from purchase and sale of
real estate, stocks, bonds and capital
assets should be returned, together
with an explanatory statement speci-
flying the date of purchase, amount
paid, date Of sale, and amount receiv-
ed. "Prohts" here represent the ex-
cess of the selling price over the total
expense of buying and holding the
property, including interest actually
paid on the money invested and other
necessary expenses of holding and car
rying the property provided such ex-
penses have not already been deduct
ed in the income tax return for 1911.
Wages: No deduction is allowed
for wages paid to household servants,
or to the wife or minor children of the
taxpayer, or to the taxpayer himself.
No deduction for wages and salaries
can be allowed unless accompanied by
statement of the name, address and
amount paid to each employee to whom
compensation of 500 or more was
paid during the year 1912. Employees
whose residence and employment are
wholly outside the state need not be
reported. Firms and co-partnerghips
may treat as deductible expenses, rea-
sonable salaries paid to members, pro-
vided the amount so paid is stated i'll
the return. Repair and depreciation
taken together must not exceed the
annual deterioration of wear and tear.
Additions or improvements which in
crease the selling value of the prop
erty beyond its value on January 1,
1912, are not repairs and cannot be
deducted.
Losses, depreciation and miscellane-
Gus expenses can not be allowed I'M
less fully explained as called for in
the return.
Taxes: Income taxes paid in 1912
may be deducted among the "other
ordinary and necessary expenses. -
This deduction must be separately
stated and should cover only the cash
paid, not including the personal tax
offset.
Insurance: Insurance premiums
paid on property from which taxable
income is derived may be deducted,
but amounts paid for life, sickness
or accident insurance are not deduct
able.
Personality Offset: Your personal
property tax counts as cash in the
payment of your income tax, but this
offset is taken care of at the time of
payment and not during the assess
ment season.
Accounting: The essential purpose
of the law is to ascertain and tax net
income. Any method of ookkeeping
or accounting which fairly attains this
result will be acceptable. Doctors,
lawyers and professional men will re-
port their fees and earnings when col
lected. Merchants, manufacturers and
business men generally will report
sales on account or for credit as gross
income when the sales are made.
Joseph Il. Dalton,