Gunnison news-champion., 1919-03-07
tins HllS HOW TO
ReuE INCOME TAX
Seuareh U to Every Individual
70 Get Busy BY March Is
o. Suffer Penalty.

-.
and making your return. Avoid the
last minute rush Any person can as-
ure out his liability today ~ well - ~
can next week. and II there b any
point on which he needs advice he can
now get u touch With Revenue man."
This word Of advice 10 from MARI 4.
Skinner. Collector Of Internal Reve-
ne. Denver. Colo, who n collecting
the lnc0oe Tar h Colorado and Wy
oming. Collector Skinner b giving
vtthout charge every aid of his once
and his enlarged Geld forcs to help the
people gst their Payments and their
rsturns In By March 18th.
But the Income Tax men win not
pull your door-beil or your coat-tails.
according to the Collectors announce
ment II IL squarely up to every indi-
vidual to fgure out his own case and
to get busy II he coines within the
scope Of the new Revenue law.
DID Veu Earn This Muehf
Every unmarried person who re-
ceived income averag ginK Si8.25 week
during 1918 and every married couple
who Jointly received income averaging
$3.50 q 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 net income Of
$1,000 or over and every married per-
son whose net Income was $1,000 or
over uncluding the income Of husband
or wife and the earnings Of minor
children, II any) must make q return
on or before March 18th. And this re-
quIrement does not hinge on whether
the person owes q tax.
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 or from professions. vocationa,
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 nee
esaary 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 ascertained to be worth.
less and depreciation on buildings. ma.
chinery. fixtures, etc. used In business.
A further deduction II allowed for con-
tributions 10 corporations operated for
religious, charitable. scientific or edu-
cationai purposes or for the prevention
Of cruelty to children or animals TO an
amount not exceeding ID per cent Of
the taxpayers net income A. computed
without the benefit Of the contribution
deduction.
The taxpayer 10 not allowed to de-
duct any personal. living or family e.
pense. any amount spent for Improving
property or any expense Of restoring
propsrty or making good its exhaus-
tiea for which an allowance II claimed
usder depreciation.
FIOvsiRo ths Tax.
Before figuring the normal tax ths
dividends are deducted - credits from
net Income. together with the personal
exemption. A. in previous years. divi.
dstds Of domestic corporations are ex-
eihpt from pormal tax whsa rsceived
By the stockholdef.
The normal tax rates for eitiSsas
and residents are a. follows: On the
0rst 1900 Of net income In excess Of
the credits the rate y 8 per cent; %
any further taKabas incoms the rate 10
!: per cent.
The surtax rates apply to net In
coS,e of each indivSdual II excess Of
$1,000 TIE persesal e1empticn and
the divi6ends are mon deductibie before
computing surtax. In the case Of re-
turns By husband and wife. the net In
come Of each 10 consldcfed se - ely
II cssn,puting any sustax that he
dse. Form l0lo should he used for
snak'ns retuFAs ef, nst ineosHe exceed
iSG $4,000 end the iastrsctioos on that
foRD win show hoW - Agare the sur
tax.
0Ueiaees tsauoe 0stssNa
Employers shd ethsrs VIZ paid
wages. s-'nrie~. rtnts, Interest sr sim
liar 'nable gains. n IN amount
1s - : over during 1918 to any
pcrsui i nle an isformatioa return
With the 'ioversment. Biaaks nay -
secured lrom the Collsetsr.
Every pa,:psrship nuse Ale . return
shewiag its inco0s aD1 1eductioas and
NJ name and addrsss II eaeh partnss.
Vith his share e ths DssoeS o. lessss
6ulng Tie past ysas. Perseaal service
esspssatioss wfn H similar infosna-
de- Ses l0lA