The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-02-26

70 sssAs' 'sssns s.e'ps the amount s'v'
on n' Witch ;sm n. s;n' v.s s:
ss,, ; nss: n. ::. ss S: s s:s
'i nav, y: :: ,i .s:n = :ss"' :1'ssA
,. - w uns.t !. ne meaning Il The s''''' on
,n.uranes polisiss a. iaeoms s, NJ posSil .n
p.ny and 90 toward paying on the amount
Answer-u) II you ind that AFTER de-
duction your net income for the 1913
taxable period was les than 5000 you
do not have 10 make a return
t2) No.
(3) Dividends need not be included In
income statement at all unless you are
subject to the supertax.
90 II means that income upon which
the tax has actually been withheld At the
source should be entered IN that column
No tax was required to be withheld prior
to November I. 1919. therefore no income
received prior - thA4 date would be
placed In that column. Except In the case
Of coupons on bonds no tax would be
withheld on other income unless the
amount paid in November and December,
1913. amounted to $4,000 OF over. Cou-
pons on which the tax was actually de-
Quoted or those on which the corporations
agree to assume tai az exemption was
not claimed) that were paid since No
vember /. 1913. should Be entered In
Column A. All other income should be
entered in Column b
t5) We do not think that dividends
should be considered - income.
Iueeae Fpen Estats-astaSns.
trust. estates from which i received .trvm
March March 's az year IN. An inSo%: e nasss; Of
The incom. Of neither s.;sss "s.sia:ivs q
stock dividend. amounted e 800. hh
nss ,..r,o .'r me or The hdsas'' to de
Answer-So return In necessary unless
you have income from other sources which
made your total net income. exclusive Of
dividends. 9i.Soo or moro for The 1913
taxable period. In the latter case Il
return. but the hduciary would not BE- re-
auired TO hie q return.
DsviAe.As.
's;MA w. G,y sss .. ,nso%' 2, :;ses
tno single invs:,m.n, yi.lSins over 5000
recently pusii.hsd in TINS ses ! i.slr tina,
Ing $40 900 rom eorpors,ion ssoel since this 10
considered 20 have paid the normal tar at
.. sA; p: x. e;ss
.S r.. mo sSGsSo tSs
on tn. .s:mp,.S $500 per snaam: nor or hsv.
! received reply on this point 70 my
and my request for the nseessary eiain
blank.
This being the case. ~h.. provision !.
.ismp,ion Of 5000 ,or $4,000 snnu.liyf
Furthermore. II seems evident from the
ssSs ;AsS s1 $500 "a. rom Moons ssos 2.
corporation. stocks !. n.vssthsi;ss 20 BE
is eons.dersd to n.vs psid the TAI q, 't The
90 eon.,dsrsa. -' "
10 this correctf
!. Any. any report At an needed in the fr's
Is any form for redress or claim, pre-
above cases which would entail no s1psnss
to the taxpayer
Auswer-No tax 10 withheld in the case
Of dividends and therefore IL 70 not nsces-
sary to claim any exemption Corpora.
I tons are required to pay q tax OF I per
cent on their net income regardless OF
whether or not some OF the stockholdery
are exempt from taxation. This tax v
not. however. deducted from the dividend
payments.
No return would be required In the cass
that you mention. for. exclusive Of divi-
$4,000 per annun. or $4,000 for the 1919
taxable period.
Savings Bank Deposits.
sos. X. Would you kindly ansvs,
from savings bank y r. tdus but NOT
by March |?
Answsr-Yes.
lsterest on Savings Baak Depssit,
Retur~s
yo ,Ssl s.v,o On o., an sac. :seoun. in q: Ne.
in:s He;s July a., :nd $50 on JanssIy l. ie
Answer-Only the interest due and
payable in the 1919 TAXABLE period.
namely. $50.
No Ret.s. Necessary.
5000, Including insom. asavsd from os sH sivs.
S., ne:m: s.siu.svs Of snee%! s.l,S.s sr e.
di N1 Or ne. earning, q such eecpsca.
zen month. March to ' b.esm 81 H. ISIS
Must make any return TO internal revenue
Answsr-If your net income. exclusive
Of dividends and net earnings OF corpora.
tons was less than $500 for the isl,
taxable period Il Is not necessary for you
10 make a return.
Losses o.. stocks.
.sAA-h' - hetorrin9 10 question No
would no. .Itole No, ies. page ss. Of IN,
Income TAI Law and regulations issued Janu
AIRY 5, 1914, permit the whole Of the difier
ence between the selhng price ana the BUY
ting price TO be charged against the incoIn
for the ten nsonths Ii prspAring rhe return
Answer-Not unless the transaction,
take place wholly within the 1913 taxa
bic period.
3l:-M +. l live In Connecticut and a,
buHnen In New York I own home n
which ! live: my mother and stspfather Nv,
S sa ~ ms: S's s:s Worn 70 ,Is SsS%
on commission bads. Our work Il 10,
much mixed up 90 permit of any division o.
separation not purely arbitrary,
Our oustness rsce'pts whether taken 70
te2twelfths for the entire year or for the 10,
aetuai months Involved esopen 20 amount I,
! undsrstAnd It. We may deduct from th
the cost Of carrying on our business Cd
fsrss 70 New York. car fares TO busines
thsre tthsrs 10 no available street car lns)
!, In the ten months under scrutiny these eI
A% m Mss ~ ma cS,: 'ss:'
70 W.iisii, while I am sntitisd 20 $50,
balance Of i:.::? on which We eve III
Government l per cent. tax.
Hsw can ~ svsrsCs Tbs sauitssly
sisn her blank This vsuid .wsrk . hard
chip. - he will not work and II 10 visooq,
. 70 keep him In the dark a. to the act ua