The St. Charles herald. [volume] (Hahnville, La.) 1873-1993, 1918-03-23
FEDERAL income
TAX IN BRIEF
The Requirements Boiled Do"'
for Busy Folks

before June Is, 1918.
II you are single and your he' "
come for 1917 was $1,000 or more you
must file return -,
II You were married and living WIN
wife Cor husband) and had net ~
como of $1,000 or more for 19l' you
must file return.
Husbands and wife's income must
be considered jointly, plus income u
minor children.
Income Of a minor or incompetent
derived from a separate estate mus
be reported by his legal representa-
tive.
Severe penalties are provloeo j"
those who neglect or e~ade the law
FOR false or fraudulent return there
is a penalty not exceeding s-'oVo nne
or years imprisonment, or botn' plus
400 per cent. of tax
For failure 10 make return Oh W
before April /, 1918, fine is from s@o
to $1,000, plus so per cent. OF tax que.
Returns must be filed with the COZ
lector OF Internal Revenue OF olstrics
in which you live.
An agent may file return for per
son who IL Ill, absent from the country
or otherwise incapacitated.
Each return must be signed ana
sworn or affirmed by person e1ecut-
ing II.
Single persons are allowed S1Oo
exemption In computing normal tax.
! A married person living with wife
Tor husband) is allowed $1,000 exeHp-
ton, plus $500 for each dependent
child under IS.
A head Of family, though single. IS
; allowed $1,000 exemption II actually
/ 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 f31a-
! bile on the salaries or wages recelvei
from a state, county, city or town IN
the United States.
Interest on state and municipal
bonds issued within the o. S. is ex-
SI1pI lIUu ItNoioi
should be omitted.
Interest on United States govern
ment bonds is also exempt, except on
individual holdings OF Liberty Fours IN
excess Of SIS, OG0 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 he included on the re-
turn Of the beneficiary.
Life insurance received as 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 Eot income, nut
the interest Oh such notes or mort
cages Is taxable income.
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. trade 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 immedi
ate use.
The amount Of rent paid for a farm
may also be claimed as tenant farm
er's expense
{ PAYMENTS for live stock are allown
bic II bought for resale. But If bought
for breeding purposes cattle are an In
yestment, not an expense, and canno
be allowed.
A storekeeper can claim amount.
paid for advertising. clerk hire. tele
, phone, water, light and fuel, also drny
age and freight bills and cost OF op
/ Grating and repairing wagons an(
trucks
A physician can claim cost of hi
, professional supplies, rent, Office help
, telephone, expense OF team or automO
bile used In making professional call
and expenses attending medical con
, | ventions.
: A dentist can claim similar items
except team or auto expense, whic
are not necessary In his profession.
: Expenses that are personal or cor
) nected in any way with the support Q
: well being Of person or family ar
not allowable.
. The costs Of machines, instrument.
. vehicles or implements that are NOR
p or less permanent In character are no
allowable as an expense. They are IL
q yestments.
I Interest paid on q mortgage or othe
;. personal Indebtedness Is allowable O
4 a personal return.
4 All taxes paid within the year ca
- be taken out on a federal return, g,
eept federal income taxes. inheritnnc
q taxes and assessments for local In
n provements.
y Losses sustained In business =
9 through Gre, storm or shipwreck or h
g theft. except when compensated by 1,
[ surance or otherwise.
9 Wear and tear OF rented BUILDINGS ,
y machinery used In business may /
h claimed
You can also claim tho amount m,
r., tho Red frOgu and to nthor ,b,.t.