The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1918-02-15
MAKING INCOME
TAX RETURNS IS
ASIMPLE THING
ONLY ACCURATE KNOWLEDGE
OF INCOME AND EXPENSES
FOR 1917 is NEEDED.
HOW TAXPAYERS MAY HELP
Collectors Frierson and Tate VIII be
in Columbia Until Night Of Feb:
ruary 20 to Assist the Public--In Mt.
Pleasant Feb. IS and is.

Making returns for the income tax
collectors is really very simple mat
ter if the persons liable for such tax
will but give little thought to it. Dep
uty U. s. Internal Revenue Collector,
Horace Frierson, ST., and his assistant
collector Edward o. Tate, stated this
morning that the work OF filling the
returns would be greatly facilitated il
each person would make summary
Of their income and business expenses
before coming to the collectors head
quarters in the Maury National Bank
to complete the returns. The collec-
tors are being kept busy and are here
for business but they will not be able
to cover the ground completely un-
less the tax payers help by doing part
of the figuring before they call at the
headquarters. Persons who do not
make their returns now will but
cause delay and possible embarrass-
ment, because after the collectors de-
part they will be followed by inspec-
tors and other government agents who
will make clean sweep Of the state
and locate every individual liable for
the payment Of income taxes who
have escaped the collectors.
Briefly the persons required to
make returns are those who earned
$1,000 in 1917 If single and $4,000 if
married. This applies to women as
well as to men. If the income is from
salary or wages no deductions for ex-
penses are to be made. If the income
is from some form of business or pro-
fession no personal expenses are to be
deducted, but all expenses incident to
the conduct of that business or pro-
fessi0n will be deducted before calcu-
lating the tax to be paid. The head of
a family, whether married or single,
will be allowed exemptions for each
dependent member of the family, but
the return should be made regardless
of such dependents il the income is
$1,000 Tor a single person and $4,000
for a married person, and the collec.
tors will make the proper deductions.
Incomes Of dependents should be
shown in the returns of persons filing
the paper with the collectors.
If a married man, for instance, has
an income of $4,000 and his wife an
additional income, that should be
shown.
Business men making their personal
returns should show the amount of
their personal income from the bust
ness, such as salary. dividend, bonus.
etc. The business itself, II part
nership or corporation, will make a
separate return showing its income
and its expenses, with the net amount
on which tax will be paid.
Farmers will make their return in
the same manner that any other bust
ness man would, showing the income
for the year 1917 and the expenses OF
that year. Certain stock, equipment,
etc, necessary for the operation of
the farm purchased during the year
will be set down as expenses. I'm
sold crops or other produce from the
Iarm will not be counted as income
until 1t is sold, but win be set down |
Is property on hand, which may by
sale become subject to an income tax
or 1918 or whenever 1t is sold. The
returns now being made are for 1917
,nly.
Blanks for making returns on cor
Dorations have not been distributed,
Dut viii be put into the hands of the
proper parties within few days. Mr.
and Mr, Tate win be in Co