The border vidette., 1918-02-09
INCOME TAX RETURNS.
Special Agent of Internal Revenue Here
 to Give Valuable Pointers.


 agent of the Internal Re. venue Bureau, is here from Phoenix, having his beadquart- CTS at the Town Hall! He is here for the purpose of assisting people in making their income tax returns, and will gladly aid you in every possible way. Since coming here MT. Dernier, who is a. deputy internal revenue col lector, has been very busy mau.
 If you have not filed your in come tax returns, better do so at once, while the deputy in- ternal revenue inspector is here. It may save you a deal of trouble and expense later.
 The first thing to be under stood is that the income tax ap- plies only to your income for the calendar year 1917. Your in come for prior years and your estimated income for 1918 are not to be considered.
 The war revenue act of Octo- Der 3, 1917, provides for nor nal rate of tax of per cent on net incomes of unmarried per sons in excess of 5000 and upon incomes of married persons or heads of families in excess of $2OOO.
 If you are unmarried and your income for 1917 was 5000 or more you must get a tax blank, fill it out and file it with the col 1ooto. of ip rnx,nnnn in tho district in which you live. If married and your net income was $2OOO or more, you must file a return with the collector. Re turns must be in the hands of collectors not later than March 1, 1918.
 A taxpayer is considered to be the head of a family and entitled to all the exemptions allowed a married person if he is actually supporting one or more persons closely connected with him by blood relationship, relationship by marriage or by adoption.
 Women as we'll as men must pay an income tax. The com bined net income of a married couple in excess of $2OOO is as sessed. They may file joint return or each file a separate re- turn if desired. If joint return is filed either one may claim the exemption or it may be divided between them. A widow, a wo- man living apart from her hus- band, or a maid is assessed on her net income above 5000.
 Net income" means gross in come less certain deductions pro- vided for by the act. Expenses actually incurred in carrying on any business may be deducted, but not family nor living ex- penses.
 In making out your return you may deduct the following from gross income:
 Interest paid on mortgages and notes and other indebted ness, except indebtedness for the purchase of tax exemption securities.
 Rent paid for offices or busi- ness places.
 Taxes paid, except for local improvement such as sewer and water, in come taxes and excess profits taxes.
 Losses sustained in business or trade arising from fires; storm or other casualty or by theft; if not compensated for by insur- ance or otherwise. If property | was purchased prior to March 1, 1913, the fair market price or value on March 1, 1913, is the basis for figuring the loss. |
 Losses sustained in specula- tions and side lines not connect | ed with your regular business, but these deductions must not | the profits from similar | transactions.
 Debts ascertaiued to be worth l less and charged off within the l year.
 Reasonable depreciation for | business structures but not for | your residence.
 Depreciation for oil, gas wells. mines, etc.
 You must include under gross income the following items:
 Salaries, wages and commis- sions or compensation of what ever kind for personal services.
 All profits derived from busi ness, trade or commerce.