The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1919-03-25
THIS TELLS HOW TO
FIGURE INCOME TAX
SquareIy Up to Every Individual
to Get Busy by March IS
or Suffer Penalty.

or Surfer Penalty.
Don't wait until the hnel due date,
March 18th. for paying your mcoms
Tax and making your returp. Avoid
the last minute rush. ANY person can
figure gut his liability today as well as
he can next week, and if there Is any
point on which he needs advice he can
now get in touch with Revenue nah
This word OF advice is from Seth ".
Jones, Collector Of Internal Revenue.
Portsmouth. n. H.. who Is collecting
the Income Tax In Maine. New Hamt.
shire aud Vermont. Collector. Jones 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 18th.
But the Income Tax men will not
pull your door-bell or your coat.tails,
according TO the Collectors announce
ment II is squarely Up 10 every indi-
vidual 20 figure out his own case aud
20 get busy il he comes within the
scope OF the new Revenue law.
Did You Earn This Much!
Every unmarried person who re-
ceived income averaging Sl925 a 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 l0i0 a.
That form contains the lnforInation he
win need 90 enable him 10 figure his
correct net income and any tax that he
owes the Government.
The law requires that every unmar-
RED person. who had net income Of
81 900 or over and every married per-
son whose net income was $1,000 or
over (includlng the income OF husband
or wife and the earnings OF minor
children. IL any must make return
| on or before March 18th, Aud this re-
quirement does not hinge IN Whether
the person owes a tax.
Taxable income.
An Individual must include under
| gross income all caius, profits and In
come derived from salaries. wages or
compensation for personal service Of
whatever kind and IN whatever form
paid or from professions, yocstlons,
business. sales or deslings in property
I Of all kinds. interest, rent, dividends
or profits derived from uny source
I whatever. Very few items Of income
are exempt.
Z Deductions include ordinary and nee.
essary business expenses, interest paid
or accrued ON Indebtedness. lakes OF
all kinds except Federal income and
excess profits taxes and assessments
| for local benefits, cssex aatnolly siis-
tanned, debts ascertalned TO be worth
hess and depreciation nn buildings, ns
cilinery. fixtures etc. uscd IN bushes.
a further deduction is allowed for con
irlbutions to corporations operated fcl
religious. charitable, scientific or edu
cstional purposes or for the prevention
az cruelty TO children or animals to a,
amount not exceeding 10 per cent Of
the taxpayers net income rs compuiet
without thc benefit OF the contribution
deduction.
The taxpayer is MOI al'owcd 10 de
duet any personal, Using or family eS
pelise. any amount spent for improvini
property or making good its cxhaus
ton for which an allowance is elaine.
under depreciation
Figuring the Tax
Before figuring tie normal tax tn
dividends are deducted rs credits iron
!. vet Income. together With the persona
exemption As in previous years divi
,iendS Of domestic corporations are CT
emit from normal tax when received
by the stockholder.
The normal tax rates for citizen
srd residents are ms follows: On IN
0rst $1,000 of net income In excess o
The credits the rate Is 6 per cent; q
any further taxable income the rate I
i, per cent. f,st lh
The surtax rates apply 10 net IN
come OF each individual in excess Q
$1,000 The personal exemption an
The dividends are mot deduciible befor
computing surtax. In the case OF RI
turns hy husband and wife, tile nc
income ~ each is considcred separate
~ IN computing guy strtax that ma
lie due. Form 1910 shoulo be used "a
mailing returns OF ncl income eSceef
ing s5.DUN. and the instructions on thu
rcrm will show how 70 figure tho SUI
TAX.
Business House Returns
, Employers and others who pal
wages. salaries rents Interest mr. sin
liar deteIminable gains IN an amour
pf $1,000 or over during i9ls 90 m
person must Ale an Information retur
With the Government Blanks may b
secured from the Collector.
Every partnership must file retur
4 showing It's income and deductions an
the name and address OF each psrtne
4 with his share Of The profits ol losst
y during The past year Personal servi(
y corporations will file similar infcrmi
4 lion for 1913