The herald and news. [volume] (Newberry S.C.) 1903-1937, 1919-02-28
THIS Tells HOW TO
FIGURE income TAX
Square'y Up to Every Individual
to Get Busy by March 10
or Suffer Penalty.

to Get Busy by Marcn 10
or Suffer Penalty.
Don't Wal until the final due date,
March 18th, for paying your Income
Tax and making Your return. Avoid
sthe last minute rush. Any person can
figure out his liability today as well as
he can next week, and il there is any
point on which he needs advice he can
now get in touch with Revenue man.
This word of advice is from Duncan
sc. Hayward, Collector of Internal
3Revenue, Columbia, who is collecting
the Income Tax in South Carolina.
Collector Heyward is giving without
charge every aid of his Office and his
enlarged field force to help the people
get their payments and their returns
In by March 10Th.
But the Income Tax men will not
pull your door-bell or your coat-tails,
according to the Collectors announce
ment 1t is squarely up to every indi-
-viduai to figure out his own case and
to get busy if, he comes within the
scope of the new Revenue law.
Did You Earn This Much?
Every unmarried person who re-
ceived income averaging $19.25 week
during 1915 and every married couple
who Jointly received income averaging
$3.50 a week should secure at once
from the nearest Deputy Collector or
the nearest bank blank Form 1910 A.
That form contains the information he
will need to enable him to figure his
correct net income and any tax that he
owes tile Government
The law requires that every unmar-
ried person who had net income of
$1,000 or over and every married per-
son whose net income was $1,000 or
over Gncluding the income of husband
or wife and the earnings of minor
children. ifxRy) must make return
on or beforaA March 10Th And this re-
quirement d3Ss ndtShhge on whether
vthe person elss a taxs
Taxable Income.
An individual must include under
gross income all gains. profits and in
come derived from salaries, wages or
compensation for personal service Of
whatever kind and in whatever form
paid az from professions, vOcations,
business sales or dealings in property
.0f all kinds, interest, rent, dividends
~or profits derived from any source
whatever. Very few items Of income
ARE exempt.
Deductions Include ordinary and nee
--essary business expenses, interest paid
or accrued on Indebtedness, taxes OF
all kinds except Federal income and
excess profits taxes and assessments
for iocs,i benefits losses actually sus-
Y-tained, debts ascertafned to be- worth
less and depreciation on buildings ma
-tGilinery, fixtures, etc.. used in business.
.K.flrtlier deduction is allowed for coif-
tributiofls to corporations operated for
/. religious, Charitable scientific or edu-
.S:ational purposes or for the prevention
eot c.-aelty to children or animals to an
amount not exceeding 10 per cent OF
:the taxpayers net income as computed
without the benefit of the contribution
deduction.
The taxpayer is not allowed to de
>duct any personal living or family ex-
pense. any amount spent for improving
property or making good its eXhaus-
ton for which an allowance is claimed
under depreciation.
Figuring the Tax.
Before figuring the normal tax the
dividends are deducted as credits from
net income, together with the personal
exemption. AS in previous years, divl-
llends of domestic corporations are en-
.empt from normal tax when received
by the stakeholder.
The normal tax rates for citizens
and residents are as follows: Or the
first $1,000 of net income in excess OF
the credits the rate is per cent: on
any further taxable income the rate is
12 per cent.
The sur,ax rates apply to net in
come of each individual in excess OF
: 5000. The personal exemption and
the dividends are not deductible before
computing surtaX. In the case OF re-
: turns by husband and wife, the net
Income of each is considered separate
ay in computing any surtax that may
he due. Form 1910 should be used for
making returns of net income exceed
ing $1,000, and the instructions on that
form will show how to figure the sur
tax
Business House Returns.
Employers and others who paid
.aoa. s...lari1.s rents interest Or sim