The Kendrick gazette. [volume] (Kendrick, Idaho) 1892-1968, 1919-02-28
MARcsa ~ LAST DATE SET BY
THE FEDERAL GOVERNMENT
FOR RETURNS.
YEAR 1919 INCOMES LARGE
Cost Of War Enormous and Must Be-
Metover a Million citizena Are.
Addedsto List Of Income. YAK
Payers In 1918. @

sssN 0SuA = Se Anduea ~ everyone whose
met income in the case Of a married
imam was $1,000 and single man
III 900 lsstkSear, and 1t must be made
before March L. Every merchant r.
expected 10 have his records in such
shape that 1t can be estimated
whethers OF not he is required to make |
ian incomestax return. The following
statementsby George Fl. Moore, U. S.fl
lnternal6 revenue collector for the
eastern district OF Missouri goes into |
the natter explicitly and contains |
much information of interest to hnsi.
mess men generallys
The cost Of the war, has been enor.
NOUS, the Pill must be, met, and there
lore the Income. tax laid on the 1918 Il
incomes IS the largest in history.
me lncomEx tax obligation imposed II
Dy the Nsand proposed new law con. II
sists OF two distinct operations. One II
ts to fle return or statement of all
Items Of aipcpme and items OF deducyl
tlens allowable by law and to do thiaJI
within the@period named in. tbeg law
Inc other desto pay the tax II any is II
que. Neith@ Ct these obligations can
pc met without careful review of /
Income and 4expenilituTa Tor the tau
year. That is the big job right now. II
Meanwlile, let me- say again. there II
ts no need of delaying the preparation /!
Df figures. Anything that congresal1
noes now vii mot affect the amount
Of q persons& earnings for 1918. Lat
ns avoid the Related throwing together
pi ngureR THAT may hit or miss.
Euesses cannot be accepted as, the
nasis OF faxAttbn. 1t is clearly the
uuty OF every person to compiaac cor.
rect ngNres and ascertain wheHher his
income IOr 1918 was sufficient to II
make -, necessary sworn retaGW
!or salaries sand wages and, the hirh
var prices brought y n,,xnal ,nroats TO II
Ihe average small fradesman and to II
he farmeE 1.-The Ar,irion n wasting. 4
on is that q mi x,op citizens. and rasi,
Tents will me- xe this year their frst,lR
4 ooo rsn sfeturns. There are oysr
o'v W. new Is and old, to make returns
80 !. Louis district. 1 ann, tl1ane-
~ 4dvasii{g Severy unmarried ~
~ who, earned $1,000 or over D. ar
year 1918, and every MARI ,rine
.ou. whoa together with w ed ner
band, canned $4,000. to- e nr nus
pencil and figure out } sharnen iii,
He must ascert' NV he stands
gross income. IN accurately hi
aee s. w from all sources
mg overtp .alary or wages, inciue
MARI ssit:c,,aI comnensatiou.
70 sd person having children unde
who are working should inciuu
he earnings of such children.
h II he sold, any property at pIon
the gain must be computed anu
cluded in gross income. ne ren -
NJ any property to other persons -, :,
he ascertained, and from that figure
deduction may be taken for taxes pa
on rented property, the necessary =
nor repairs, fire insurance, any ints
est he may have paid on mortgag
and reasonable allowance Tor ahnu
wear and tear OF the rented proper
The balance is included In gross
come tor the year
Interest on bank deposits, whetn
withdrawn or added to his bank 2
ances,s must be included IN all car
lations Of income. Bond interest
ceived during the year must also
rs municipal. and in most cases ORA
age district bonds, and all put
school bonds Interest on Uni
states bonds need not be included
the ordinary bOndholder who
chased small amounts. Holders
dividends on stock shares are
come and must be included In
gross figures, although the law q
not impose the normal tax on dlstr
tons made by domestic corporate
This includes stock dividends m
from earnings.
HI A professional man arrives at
professional income by ascertain
the Total fees for services and ded
ing therefrom all expenses conne'
directly and solely with his practic
farmer must figure up all inc
derived from the sale or exchang
products during the year. whe
such produce was raised on the
or purchased and resold. He is
lowed to deduct from this total
expenses of the year connected
the planting, cultivation, harves
and marketing of the crop, or the
feeding and marketing of live s.
He lis not allowed to deduct
amount expended in 1918 In pur'
ing stock for resale, unless sold II
same year; but when such stot
sold Its cost is to be deducted
sale price in ascertaining the ga
be included in his return OF inc
The cost price of stock bought
to 1917 cannot be deducted as II
case lust cited, il such cost wa
cluded in the deduction made Il
year of purchase. The farmer !
reguired to include in his incom
the; computation of the value of
produce consumed by himself and
ily. But in cases when he exch
produce for merchandise, groc
etc, the market value of the
receivd in exchange must be inc
All other items of increase
during the year through pei
service, business or trade. throue
of property or money, should be
into the gains for 1918.
Everybody wants to know VIII
come is exempt from tax. Yer
plums that fall to the average