The patriot. (Glenmora, La.) 1918-1955, 1919-03-07
this TELLS HOW TO
FIGURE income TAX
Squareiy Up to Every Individual!
to Get Busy by March 10
or Suffer Penalty.

NlarCn lOtn, I0f paying your 1ueouc
Tax and making your return. Avoid
the 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 John Y.
Fauntleroy, Collector OF Internal Reve'
nue., New Orleans, who is collecting
the Income Tax in Louisiana. Collec-
tor Fauntleroy is giving without charge
every aid Of his office and his enlarged
field force to help the people get their
returns in by March 18th.
But the Income Tax men will not
pull your door-beil or your coat-tails.
according to The Collectors announce
ment 1t is sQuarely up to every indi-
vidual to figure cut his own case and
to get busy if he comes within the
scope OF the new Revenue Law.
Did You Earn This Nueki
Every unmarried person who reesiv-
ed income aveTasRg Sl9.15 week
during 1913 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 1040 A.
That form contains the information he
will need to enable him to figure his
correct net income and any tax that he
Ouac tlo Government
The law requires that every unmar-
ried person who had net income Of
81 900 or over and every married per-
soR whose net income was $4,000 or
over (ncluding the income OF husband
or wife, and the earnings OF minor
children, IL any must make q return
ON or before March 18th. And this re-
quirement does not hinge On whether
the person owes tax.
Taxable tNoosaa.
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, or from professions, vocations,
business, sales or dealings in property
of all kinds, interest, rent. dividends
or profits derived from any source
whatever. Very few Items OF INCOME
are exempt
Deductions include ordinary and nec-
essary business expenses, interest paid
or accrued on Indebtedness, taxes Of
ail kinds except Federal income and
excess profits taxes and assessments
for. local benefits, losses actually gus
tanned, debts aScertained TO be worth
less. and depreciation ON buildings, ms-
chinery, fixtures, etc. used in business.
A further deduction Is allowed for con-
tributions to corporations operated for
religious, charitable, scientific or edu-
catioBal purposes or for the prevention
of cruelty to children or animals to IN
amount not exceeding Ii per cent of
the taxpayers net income as computed
without the benefit of the contribution
deduction
The taxpayer is not allowed to de-
duet any personal, living or family ex-
pense, any amount spent for Improving z
property, or any expense OF restoring
property or making good its exhaus-
tion for which an allowance is claimed
under depreciation.
Fisuriac 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, divi-
dends of domestic corporations are ex-
eInpt from normal tax when received
by the stockholder.
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 il. q per cent; on
any further taxable income the rate is
12 per cent
The eurtax rates apply. TO net In
/. come of each individual in excess of
$1,000. The personal exemption and
the dividends are not dedpetible before
computing surtax. In the case Of re-
turns by husband and wife; the net
income Of each is considered separate
ly in computing any surtax that may
be 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 HotIs. Returns.
] Employers and others who paid
j. wages. salaries, rents, interest on, sim
/ ilar determlnabIe gains in an amount
OF $1,000 or over during 1918 70 any
person must file an Information return
/ with the Government Blanks mag be
secured from the Collector.
! Every partnership nlust Gle return
l showing It's income and Gcluctions and
/ the name and address Of each partner
| with his share OF the profits or losses
! daring the past year Personal service
corporations WIN Gle similar infofrna-
ton for 1918.
a - a =. a. a. - 4, a 49, a n A u w n !