The Taney County republican. (Forsyth, Mo.) 1895-1992, 1919-03-06
THIS TELLS HOW TO
FIGURE INCOME TAX
SQuarely Up to Every Individual
to Get Busy by March IS
or Suffer Penalty.


Tax and making your return. Avoid
the last minute rush, Any person can
figure out his liability today as " Il as
he can next week, and II there Is any
point on which he needs advice he can
now get In touch with q Revenue man.
This word Of advice is being given
out by Internal Revenue men. Re.
turns and payments are being col.
lected In Missouri by the following
Collectors OF Internal Revenue:
George Moore.
George +. CrutchIey.
Every aid Ot their offices and field
forces is being given freely to the
public.
But the Income Tax mon will not
pull your dOor-bell or your Coat.talls,
according to the Collectors announce.
ment, 1t is squarely up to every lndi,
vIdual 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 Mueh7
Every unmarried person who re.
CeIved income averaging Sl0.26 Il week
during 1918 and every married couple
who Jointly received income averaging
$3.50 Il 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 the Government.
The law requires that every unmar,
ried person who had n net income Of
$1,000 or over and every married per.
son whose net income was $1,000 or
over (InCluding the income Of husband
or wife and the earnings Of minor
children, II any must make a return
on or before March 18th. And this re-
qurCmeht does not hinge on whether
the person owes n tHy.
Taxable Income,
An Individual Must include under
gross income all guins, profits and In.
come derived from salaries, wages or
compensation for personal service Of
whatever kind and In whatever form
pRid or from professions, vocatlons,
business, sales or dealings IN property
OF Rll kinds, interest, rent, dividends
or profits derived from any source
whatever Very few items Of income
are exempt.
Deductions include ordinary and nee
eSsnry business expenses, interest paid
or accrued on Indebtedness, taxes Of
all kinds except Federal income and
excess profits taxes and assessments
for local benefits, losses actually sus.
taIned, debts Hscertuned TO be worth.
less and depreciation on buildings, ma,
ChInery fixtures, etc, used In business,
A further deduction IL allowed for con.
trlbutiOnS to corporations operated for
religious, charitable, scientific or edu.
catlonal purposes or for the prevention
Of cruelty TO children or animals 10 an
amount not exceeding IL per cent OF
the taxpayers net income as computed
without the benefit Of the contribution
deduction.
The taxpayer Is not allowed to dc.
duct any personal, living or family cS'
ppnse, nny 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, dlyi.
dends Of domestic corporations are eS.
empt from normal tax when received
by the stakeholder.
The normal tax rates for citizens
and residents are as follows: On the
first $4,000 Of net income in excess OF
the credits the rate Is per cent; on
any further taxable income the rate Is
IL per cent.
The surtax rates apply to net In.
come OF each individual In excess of
$1,000. The personal exemption and
the dividends are not deduCtlble before
computing surtax. In the case Of re.
turns by husband and wife, the net
income Of each Is considered separate.
" 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 Returna
Employers and others who paid
wages, salaries, rents, interest or SIM
ilar determinable gains IN an amount
of $1,000 or over during 1918 to any
person mist file an information return
with the Government. Blanks may be
secured from the Collector.
Every partnership must file return
showing Its income and deductions and
the name and address Of each partner,
with his share Of the profits or losses
during the past year. Personal service
corporations will file similar informg.
tlon for 1918.