Belington progressive. [volume] (Belington, W. Va.) 1912-1927, 1918-03-21
INCOME
TAX IN BRIEF
The Reouiren,ents Boiled Down
for Busy Folks

Retusns mast be Ned on or before
April l, 1919
Tax due mag be paid now or on or
before June l6. 1913.
II yos wsre single aad your net IN
come for 1917 was $1,000 or more you
must Me a return.
II yoz were married and living with
wife Tor husband) and had net In
come of s2,0oO or more for 1917 you
must file return.
Husbands and wife's income must
oe considered Jointly, plus income of
minor children.
Income OF minor or Incompetent,
derived from a separate estate, must
be reported by his legal representa-
tive
Severe penalties are psovidsd for
thoae whe neglect or svaes the Aw.
Fer fsiss Or fwsdxasAt wturn thsrs
is pAAfty net srsssan.s 0,ose sns
or ysaTs imrsesH1SnA - bstA, pfw
100 Esr csat- q tax
Der hkars - HsAns FskSrn - ~
befses Aywfi l 1eaA - 10 frsn -
10 q, -. ~ ~ p~ snt Of tax dsA
Hssnma nnst - nkA1 with ~ Osl-
lssssr It IHtsaal nsvsuss ct Alsestst
n wah1h yss I've.
An aQnk nV - peAnn fer D~-
sen wAs = - aAssnt AWn - ss0Gy
or eshwxnss naup~eantsA
AAA apemm mm4 - slunsk -
sms<a ~ s9nDs& ~ person ssssss-
ing T.
SiaUls psassas go showed A-eoe
exsn,Saksa n esARst1nS psrnaal tax.
A nsxuhsA psrssa nvtAg with wtss
Cor hnshnAA) 10 allowed $4,000 exemp-
ton, pA~s 5000 for sask dependant
child umasC Is.
head Of family, thssSh single, Is
allowed 5000 exemption II actually
supporting one or more relatives
I Retums must show the entire
amount of EARNINGS, gains and profits
received during he1year.
officials and employees are not taxa
BILE on the salaries or wages received
from state, county. city or town in
the United States.
Interest ON state and municipal
bonds issued within the .. 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 of Liberty Fours in
excess Of $4,000 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 as a bene-
ficiary or as premiums paid back at
maturity or surrender of policy is not
income.
Payments received for real or per
sonal property sold is not income, but
the profit realized thereon is income
for the year Of sale.
Amounts received IN payment Of
notes or mortgages is not income but
The interest or such notes or mort
gases is taxable income.
From the entire gross income Ger.
tain allowances are made ia arriving
ait the net income.
Necessary expenses actually paid To
the conduct OF business, trade or pro
fesslon may lie claimed
/ farmer can claim payments foi
labor seed. fertilizer, stock feed. re-
pairs on buildings, except his dwelling
repairs OF fences and farm machinery
materials and small tools for immedi
ate use.
! The amount OF rent paid for o farm
may also be claimed as tenant farm.
er,s expense.
Payments for i've stock are a1Iowa
HE If bought for resale. But if bought
for breeding psrposes cattle are an in.
! vsssanaat, not aG expense, and sanne'
be allowed
steraE eepsr eaa @asm aEaeunts
pasa for advertising, clerk hire. tele.
| pAena, water, Night and fued, also dray-
aga and freight bills and cost of op-
Grating and repairing wagons and
| trucks
physician can claim cost OF his
professional supplies, rent, Office help,
telephone, expense of team or automo-
bile used in making professional calls
and expenses attending medical con-
ventions.
dentist can claim similar items,
except team or auto expense which
are not necessary in his profession.
Expenses that are personal or con
nected in any way with the support or
well being Of person or family are
not allowable.
The costs Of machines, instruments.
vehicles or implements that are more
or less permanent in character are not
allowable as an expense. They are in
vestments.
interest paid on mortgage or other
personal Indebtedness IS allowable on
a personal return.