The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1918-03-29

The Requirements Boiled Dem
for Busy Folks.

com for 1917 was $1,000 or more you
must nle q return.
II Won were married und living with
wife Cor husband) and had q net IN
come of $1,000 or more for 1917 you
must fle a return.
Husbands and wifcs Income mus"
be considered jointly. plus income Oh
minor children.
Income Of q minor or Incompetent
derived from q separate estate muS'
be reported by his legal representa-
tive.
Severe penalties are provided Tor
those who neglect or evade the law.
Eor false or fraudulent return there
IS n penalty not exceeding sZ'VVo uhe
or years Imprisonment. or both. plus
100 per cent. OF tax.
For failure to make return on o.
before April i, 1918. fine Is frsin S<o
to 1000. plus SO per cent OF tax due.
Returns must be died with the Col
lector Of internal Revenue OF district
In which you live.
An agent may file return for q per
son who Is Ill. absent from the country
or otherwise inoapacitated.
Each return must be signed n
sworn or affirmed by person execu'-
ing IL.
Single persons are allowed si'"'
exemption In computing normal tax.
A married person living with wire
Cor hushand) Is allowed $1,000 exeinp-
ton. plus 5000 for each dependent
child under Is.
A head Of family. though single Is
allowed $1,000 exemption Ii actuaii
supporting one or more relatives.
Returns must show the entire
amount Of earnings, gains and profits
: received during the year.
Officials and employees are not TAXA
bic on the salaries or wages received
: from n state, county. city or town IN
the United States.
q Interest on state and municipal
bonds issued within the U. 3. 70 ex-
n empt from federal income tax n
q should be omitted.
), Interest on United States govern
ment bonds ID also exempt, except on
a individual holdings of Liberty FOurs In
@ excess OF 5000 par value.
a Dividends are not subject TO norman
r tax. but must be reported and Included
In net income.
Gifts and legacies are not Income
and should not he included on the re
m turn Of the beneficiary.
~ Life insurance received as q oene
- iciary or as premiums paid back a.
maturity or surrender OF policy 10 no
a. Income.
PAYMENTS received for real or per
sonal property sold Is not income. bu
the profit realized thereon 10 incom'
for the year OF sale.
!. Amounts received In payment o
- notes or mortgages Is not Income, bu
the interest on such notes or nor
an gsges Is taxable income.
From the entire gross income Ger
'op tain allowances are made In arrtvin
&C, ct the net income.
.rs Necessary expenses actually paid l
Of the conduct Of business. trade or pre-
he fession may he claimed
on A farmer can claim payments AZ
mr.. labor. seed. fertilizer, stock feed. n
pairs on buildings. except his dwelling
lie repaIrs Of fences and farm machinsr.
.Ip. materials and small tools for immed
nat ate Use
Ion The amount Of rent paid for Q far
,ns NAV also be claimed az q tenant fsrr
sed er's expense.
NJ PAYMENTS for live stock are allow
BILE n bought for resale. But II bougl
ing for breeding purposes cattle are an
to yestnient, not an expense. AND cam
rms be allowed.
to A storckeeper can claim amour
,rlv paid for advertising, clerk hire, Tel
phone. water. light and fuel. also dra
mr.. age and freight bills and cost OF O
NOT Grating and repairing wagons a.
, 10 trucks.
hut A physician can claim cost OF !
,oes professional supplies. rent. once ne
ma. telephone. expense of team or anton
,ino Lille used In making professional ca
and expenses attending medical &C
y~entions.
-ns A dentist can claim similar ltei
rat. excep, team or auto expense. Viii
o,so are not necessary In his profession.
nv Expenses That are personal or G.
not. nected In any way with the support
well being OF q person or family
the not allowable.
on. Tn. costs Of machines. instrumeI
.o-n vehicles or implements that are M
.ha or less In character are
or,s allowable as an expense. They are
N an yestments.
h Interest paid on q mortgage or OF
,hs personal indebtedness In
orig a persohai ui
Eu- All taxes paid within the year
: the be taken out on a federal return.
ator. cspt federal income taxes, lnherita
from taxes and assessments for local
rian. provements.
,men Losses sustained In business
imes through fire. storm or shipwreek or
n as theft, except when compensated by
IT Is srrance or otherwise
|. ad- Wear and tear OF rented 'uildingI
7ales machinery used In business may
erick claimed.
nIted You CHI. also claim the amount :
ribu- ri the Red Cross ana TO other char
y red bic. religious Or educational organ
. In tioa to the extent OF Is Per cent