The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1918-03-22
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H.. III BRIEF

IA. IN DklEf
Il /. : Is 1 lied Dc;Hn
ii EIsy Folks.
go. us 10 died on OF before
...a !. J. !
TT. dr. may bs paid now or on or
BE-, ~. fur. - 1918
L ~ ,lngle and Jour net In
com vas $1,000 or more you
must :.
If Won T. y md diving with
wife (sr hus AID, anil had q net In
come Of $2.cvS or m for 1917 you
must Aie q return
Husben nd's nnt Wig. ircome must
As considered Jointly. Plus income OF
0incr children.
Income Of q minor or incompetent.
derived from 6 separate estate, muS
- reported By his legal representa-
i've.
Seyess penalties are provided for
those who neglect or evade the law.
For false or (, udulenr return there
70 . penalty no exceeding $2,OOo hne
or yesrs imprisonment, or both, plus
100 per cent. OF TAX.
For failure to make return on or
before April 1913. hne Is frsm S2o
70 81 .OOO plus ~ per cent. OF tax due.
Returns must be filed With the Col
lector Of Internal Revenue OF district
In which you live.
An agent may file return for per-
con who Is Ill. absent from the country
or otherwise incapacitated.
Each return must be signed and
sworn or affirmed by person execut-
ing It.
Single persons are allowed $1,000
exemption in computing normal tax.
A married person living with wife
Tor husband) Is allowed $1,000 exemp-
tioa, plus 5000 for each dependent
child under Is.
A head Of 'amily. though single. h
aIowed $1,000 e-emption II actually
supporting one or more relatives.
Returns must show the entire
amount OF earnings, gains and profits
received during the year
OG,cials and employees are not taxa
BILE OH the salaries or wagos received
from state. comfy. city 9r town In
the United State.
Interest on state and municipal
bonds issued within the q. S. is ex-
empt from federal income tax and
should be omitted
Interest on United States govern
ment bonds Is also exempt. except on
Individual holdings o. Liberty Fours In
excess OF Sc. 5.OOO par value
Dividends are not subject to normal
tax. but must be reported and included
In net income.
Gifts and legacies are not income
and should not be Included on the re-
turn Of the beneficiary.
Life insurance received az q bene-
nciary or ~ premiums paid back at
maturity or surrender of policy Is not
income
Payments received for real or per-
sonal property sold IL not income. but
the profit realized thereon is income
for the year OF sale.
Amounts received In payment of
notes or mortgages u not income, but
the interest on such notes or mort
SAaes II taxable ineomA
From the entire gross income Ger
tain allowances are made IN arriving
at the net income.
Necessary expenses actually paid in
the conduct Of business. trnee Or pro
fession may be claimed
A farmer can claim payments for
| labor, seed. fertilizer, stock feed, re-
| pairs on buildings. except his dwelling
repairs OF fences and farm machinery,
materials and small tools for immedl-
ate use.
The amount of rent paid for q farm
may also be ciaiBed as q tenant farm
er's expense.
J Payments for live stock are sllowa
BILE IL bought for resale. But II bought
for breeding purposes cattle are an In.
vestment. not an expense. and cannot
BE allowed
A storekeeper can claim amounts
paid for advertising. clerk hire. tele-
phone, water. light. and fuel. also dray'
age and freight hills and cost of op-
Grating and repairing wagons and
trucks
A physician can claim cost OF his
professional supplies. rent. once help
telephone, expense OF team or automo
bile used In making professional calls
and expenses attending medical con
ventionA
A dentist ca claim similar items
except team auto eypense. which
are ssot necessary In ms profession.
Expenses mat are personal or con
nected In any way with the support OF
well being OF person or family are
GOT allowable.
The cosls OF machines. instruments
vehicles or implements that are more
OF less permanent In character are noI
allowable rs an expense. They are In
vsstments
-. .