The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1919-03-08
THIS TELLS HOW TO
FIGURE INCOME TAX
SquareIy Up to Every Individual
to Get Busy by March Is
or Suffer Penalty.

Jul Until tAC Ae
March 18th. for paying your Income
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 a Revenue man."
This word of advice is from Justus
wardell, Collector Of Internal REEVE
nue., San Francisco, Cal, who Is col
lecting the Income Tax In Nevada
Collector Wardell Is giving without
charge every aid of his office and his
enlarged field force to help the people
get their payments and their returns
10 nv March 18TH
But the Income Tax men will not
pull your door-bell or your coat-tails,
according to the Collectors announce
ment. 1t is squarely up to every indi-
vidual to figure out his own case and
to get busy If he m within the
scope of the new Revenue law.
Did You Earn This Much7
Every unmarried person who receiv-
ed income averaging 1925 a week
during 1918 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 a 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
owes the Government.
The law requires that every unmar-
ried person who had a net income of
$1,000 or over and every married per-
son whose net income was $1,000 or
over (including 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 a tax.
Taxable Income.
An individual must include under
gross income all gains, profits and in
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 nee
essary business expenses, interest paid
or accrued on Indebtedness, taxes Of
all kinds except Federal income and
c profits taxes and assessments
for local benefits, losses actually sus-
tanned. debts ascertained to be worth
less, and depreciation on buildings, ma
%chinery, fixtures, etc., used In business.
A further deduction Is allowed for con-
tributions to corporations operated for
religious, charitable, scientific or edu-
cational purposes or for the prevention
of cruelty to children or animals to an
amount not exceeding Is per rent os
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 az
pense, any amount spent for improving
property, or any expense Of restoring
property or making good its exhaus-
ton for which an allowance Is claimed
under depreciation.
Figuring 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.
empt fxam Ror@al tax when received