The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1917-02-15

age took place. But if you married q
party who earned an income up to the
time of marriage, that income earned |
prior to marriage must be reported
in your return.
IF man died during 1916 the wild
ow should know she is entitled to an
exemption of $4,000 the same as if
her husband had lived for the
entire year. But she cannot deduct
doctor bills or funeral expenses.
Dividends on Stock.
Dividends on stock in a Wisconsin
corporation which is doing business
entirely within the state of Wisconsin,
and which is assessed under the terms
of this act, are not taxable to the in
dividual receiving the same. Such di-
vidends should be reported as income
and deducted as expense. Dividends
from bank stock are not taxable to the
individual, but should be reported ON
both sides of the return. Many cor
porations in Wisconsin are doing bust
ness both within and without the
state. The dividends from such cor
porations are not entirely exempt TO
the individual, but only that part of
the dividend represented by the bust
ness done within the state. If there
is any question as to such dividends it
is best to confer with the assessor Of
incomes, All blanks are carefully
edited for individuals and where the
same are enormously deducted cor
rection will be made and the taxpayer
notified.
Dividends received from corporations
from without the state are taxable to
the individual Dividends received
from the railroads, electric railways,
interurban railways, express, telegraph
telephone, freight line and insurance
companies are taxable to the individual.
Bonds.
/ All interest received from bonds are
taxable to the individual except inter
est on United States bonds. Interest
received from municipal bonds is
| taxable.
Pensions.
A United States pension is not tax
able. All other so-called pensions are
taxable, such as Carnegie, teacher
and railroad pensions.
Inheritances.
The amended law provides that ali
inheritances, devises, requests and
gifts are exempt.
Insurance.
Insurance received in payment of a
death claim is exempt. Fas2r or
other insurance paid 10 eli, lsned
during his life time is taxable upon
the excess received for the amount
paid for the insurance. Deductions
cannot be made for premiums paid
on insurance.
Income Received in Forms Other
Than Money.
If in addition to salary received an
employee receives room or board, an
estimate of the same must be included
as income. If the use of a house is
received an estimated rental Of that
house must be included If a store
keeper takes goods from the shelves
for the use of his family the cost of
such goods purchased, and a fat ex-
emption Isl 100000 plus $4,000 fo1
each child) is allowed for living
expenses.
A transfe: of land, corporation
stock, etc., in return for services
rendered is taxable as income.
Estimated Rental of
Residence.
Under Questions (or Question 2 in
Form ~ should be entered the total
amount of rent received during the
year for each piece of property.
Where taxpayer owns his home
| there should also be entered the full
amount the house would rent for.
Deductions should then be made for
insurance paid during the year, taxes
paid in 1915 (note this does not mean
taxes paid in 1919 repairs and de-
probation. The net amount is taxable
as income. Room rents are to be re-
ported as income, but deductions may
be made for upkeep.
Actual and necessary repairs may be
deducted such as painting, carpenter
repair work, plumbing, etc. Deduc-
tions cannot be made for improvements
as building new porches, additions, in
stalling new plumbing, wiring, etc.
It is considered that money expended
for the above increases the value Of
the property and is an Investment.
Depreciation may be allowed, but is
supposed to come only the annual wear
and tear not covered by repairs.
Please note the following table:
Depreciation