The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1919-02-28
THIS TELLS HOW TO
FIGURE INCOME TAX
SquareIy Up to Every Individual
to Get Busy oy March IS
Or Suffer Penalty. %

"Dont wait usti thc final due date.
March Is. for paying yOnr Income Tax
and making yOar return. Avoid the
last minute rush. Any person can fg-
ure out his liability today rs well as he
can next week, and il there is any
point Oh which he needs advice he can
now ret In touch with Revenue man."
This word Of advice Is from john
d. McNee,, Collector OF Internal Reve,
nue., Birmingham, who IL collecting the
Income Tax In Alabama aud MissisSip
pi. Collector McNeel is giving without
charge every AID OF his Office and bis
enlarged field force to help the people
to get their payments and their ne
turns In by March I:ith.
But the Income Tax men will not
pull your dOOr-bell or yonr coat-tails.
according to the Collectors announce
uent. 1t is sQuarely up TO every indi-
vidual to figure out his own case and
10 get busy IL he comes within the
scope of the new Revenue 3aw
Ot0 VOo &1rH JNso W0cn1
Every unmarried person who ~
celved income averaging $19.25 weel
during 1918 and every married coupbs
who Jointly received Income averaging
1850 a week shOnld secure Mt once
from the nearest Deruty Collector or
the nearest bank a blank Form 1910 A.
That fern contains the information he
will need 20 enable him to figure his
correct net Income and any tax that he
owes tase gevernment
The taw requires that every 7inmAr-
ried person wbe had a net income Of
$l.0e9 or over aud every ,narried per-
son whose net income MAS $1,000 q
over fhecludipS the income AZ husband
or wffe and sare earnings .sf minor
siasfdren. IL aY!s must make q return
Ca or before March 18th. And this re-
saafressent does not hinge sss whether
sta spersOr owes u tax.
Ts&abie inccuR.
AR indiviSRal must sa6i6sie under
<ssfs income all gains. profits ami :n-
sssrne derived from satss'ies. wages or
.rsssnf,eaiSatiua fer petsafsH service ~
whatever Eand and in whichever fOr,R
pgHs ar frs~n professions. vecatiOns,
sUnsiHcss, ->sfsas ar ds,alip ss II property
sfr all kinds, interest. rent dividends
ar profits derived frsm Est! sOur"S
whatever. Very few fsrmx of income
s,s. eyelDPt.
Dpduetiaps include srssinIrsy and nes.
ss,-,ss,ry BUSINESS EXPENSES. interest pa q
air accrued on indebtedness, taxes 81
ain kinds except Federal income :rna
%ssss.esS pratts taNes and assessments
Ncr local 'tstnefits ioSs.e- actsiaIly Sus-
s.nst,ed, dei;t,s ascrrIaiDs.d 30 ne wortt.
Jess and esGfrecialien sni buildings. ma
sliiiriery. tExtsireS. etc. used i'm business.
II further "iis.luctiOn is allowed for COR
syiEsutioIfs ~ cOrpOIati$nS operated for
ptHlyiOlrS, charitable. scientific or edu-
,c.gtiOlal purposes or fs she pRaventiOH
s.;f cruelty y, children tn- aninsllS tc III
sslss,lrt nst exceeding rs per cent Of
Mht taNpS yt3''-s net int~.atsn as .0ssii'Iited
m,ftaout the b,,netit Of ssle .cOIis-ibutiOn
-,e{tacti0n.
aae taxpseer Is rot sifsOwed to de-
duct zrlry personal. living ter family ex-
gaeffts. Amy an,ount sl'ent Fer improving
ausapes,ty or aasy expense OF restoring
saropes-ty ,ur ,kiaking good its exElaus-
a6en f.sr which an allowance ,is claimed
snnder &eprecisa'iOn.
Figuring the TAX
HefNce fiyGrirS rhe n0rSsbaf lax fafe
.!igidensis are deducted as credits from
ises inre4sae, together with the personal
sxestiptiosI. A< ir previous years, disS-
deEais ef domestic corporations ire ex-
en.pt freaM normal tax when received
by tlaxs stOesxhssfd@r
The normal tax rates for citizens
and r3sl4ie,4ss are ~ follows: On the
first 81 Geo 81 4aet incotne in excess OF
the credits the rate jS & per cent: Oh
sny further taxable income the rate II
l. per ceni.
The xMrtax rAtes apply to net in
come OF each individual In excess Of
$4,000 Tie personal exemltio and
the dividends are Bot deduetibIe before
computing surtax. In the ease of re-
turns by husband and wife. the net in
tome Of each is considered separately
in computing any surtax that may be
due. Form 1910 should be used for
making returns OF net income exceed
ing 5,0O0. and the Instructions Oh that
form will show how to figure the SIR
tax.
1usiness House Returns.
Employers and others who paid
wages. salaries. rents, interest or sim
liar deterMinahIe gains in an amount
ef $1,000. or over during. 1918 10 any
person Dlust file IN information return
with fhe Government. Blanks hay be