Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1919-02-26
THIS TELLS HOW To
FIGURE INCOME TAX
Squarely Up to Every lndlWdual
to Get Busy by March 10
or Suffer Penalty.

Don't wait until the final due date /
March 18th, for paying your Income /.
Tax and making your return. Avoid T
the last minute rash. ANY person can +
figure out his ability today as well as T
he can next week. and if there is any I
point on which he needs advice he can /
now get in tou.A with a Revenue man.
Tn word of advice Is from Seth ".
lone -sr1oc--- ~ Tu+c~v0l Revenue.
Portsmouth,, ~. a., s.-,v i> t.--.'.,-iis-
the Income Tax in Maine. New Hamp-
shire and 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 I'm by March 10Th.
But the Income Tax men viii not
pull your dOor-belI or your coar-tails,
according 70 the Collectors announce
men1. II is squarely Up TO every n'u-
viduaI to figure out his own case and
+ To get busy if he comes within the
J scope OF the new Revenue law.
Did You Earn This Mu-h2
! Every llaliHI IlEN lICA SUI We t-' ~
ceived income averaging $lg25 week
during 1918 and every married couple
who Jointly received income averaging
+ $3.50 week should secure at once
/ from the nearest Deputy Collector or
/ the nearest bank blank Form 1910 \.
/ That form contains the information he
1 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 a net income Of
/ 1000 or over and every married per
son whose net income was $1,000 or
over Gncluding the income of husband
or wife and the earnings of minor
. children, if ANY, must make a return
on or before March 18th. And this re
/ quirement does not hinge on whether
the person owes 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, vacations.
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
essary business expenses, interest paid
or accrued on Indebtedness, taxes of
all kinds except Federal income and
excess profits taxes and assessments
? { For
: tanned, debts ascertained to be worth
less and depreciation on buildings, ma
, chinery, fixtures, etc. used in business.
: y further deduction is allowed for CON
, tributions TO 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 II per cent of
the taxpayers net income as computed
without the benefit Of the contribution
deduction.
! The taxpayer is not allowed TO de
! duct any personal living or family ex-
: pense. any amount spent for improving
: property or making grcd lis pZhauS
G tion for which I'm allowance is claimed
5 under depreciation
= Figuring the Tax
Refore figuring the normal rav II.
dividends are deducted ~ credits from
net income, together with the persona
o exemption. As III previous years, diri
o deHds OF domestic corporations are OK
= empt from normal tax when receive,
e by the stakeholder.
l. The normal tax rates for citizen.
e and residents are rs follows: On tin
: first 5000 Of net income in excess o
;. the credits the rate is 6 per cent: OF
n any further taxable income the rate i
: l. per cent.
ii The SurtaN rates apply 10 net in
. come of each individual in excess o
5 5000. The personal exemption an,
IS the dividends are not deductible befor
lie computing surrax. In the case OF re
turns by husband and wife. the ne
Ut income OF each is considered separate
he ~ in computing any surtax that MA
a be due. Form 1880 should he used 70
ll making returns of net income exceed
!, ing 5000 and the Instructions on tina
n form Will show how to figure the SUI
= tax
he Business House Returns
re Employers at Others who nal
& wages, salaries, rents. interest or sin
= Tar determinable gains I'm an amour
: OF $1,000 or over during 1918 10 an
y person must file an information retur
i, with the Government Blanks may b
secured from the Collector.
We livery partnership must file retur
as showing its income and deductions an
n the name and address Of each partne,
II with his share OF the profits or loSSa
n during the past year. Personal scrvIc
= corporations will file similar Informs
l. ton for 1918
d
Is. r = tr<r%S
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