The Lancaster news. [volume] (Lancaster, S.C.) 1905-current, 1919-04-11
THIS TELLS HOW TO
FIGURE INCOME TAX
SquareIy Up to Every Individual
to Get Busy by March Is
or Suffer Penalty.

"Don't wait until the final due date,
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 we'll as
he can next week. and il there is any
point on which hc needs advice he can
now get In touch with II Revenue man."
This word Vf advice is from duncan
q. Hayward, Collector of Internal
Revenue, Columbia, who is collecting
the Income Tax In South Carolina.
Collector Hayward IL giving without
charge every aid OF his Office and his
enlarged field force TO help the people
get their payments aud their returns
In by March 18th.
Bot the Income Tax men will not
pull your door-bell or your coat-tails,
according to the Collectors announce
ment 1t IL sQuarely up to every indi.
vIdual to figure out his own case and
to got busy II he comes within the
scOpe Of the new Revenue law.
DID Vsu Earn Thls Muehi
Dvery unmarried person who -
ceived income averaging 1925 . weeh
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 nenrpst bank u 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
yves tho Government.
Ths In h.t
ried person who had net income OF
81 900 or over and every married per-
soa whose MT income was 5000 or
s~G (tncAsdiAs mo income Of Husband
Or wife aa1 the saTufn0 q minor
shkArsn, II saS) must nsks Q retlsa
- q before March 15sA. AAA TIE ~
sstrsasat does net hiHss sa vks<Asr
he psrss. ewes . aI.
Taxable iass~s.
An Individual must incisds a.de~
grsss iscs,us all % ains. profits and in
cops derived from salaries, wages sr
csRpensat tisa for personal service Of
whatever kind sns Il. whaisver form
paid or fre,a professions vecationa
business. sales or dealings In property
Of all kinds. interest. rent. dividends
Or Prsnts derived fron any source
whatever. Very few items Of income
are exempt
Deductions include ordinary aud nee
sssary business expenses, interest paid
sr accrued ON Indebtedness. Ia1e. ot
all kinds except Trdcrai income ana
nIce1 proffts taxes and assessments
for local benefits. losses actually sus.
tanned, debts nscertajned to be worth.
less and depreciation on buildings ma
chin-ry, fixtures, etc. used In business
A further deduction Ia allowed for con.
tributions to corporations. operated FOR
religious, charitable, scientific or ~
catiOnal purposes or for the prevent ion
Of cruelty TO children or animals To- an
amount not exceeding 10 per cent of
the taxpayers net income as compuI ei
without the benefit of the contribution
deduction
The taxpayer In not allowed To de-
duct any personal. living or faI.,ily eX.
pense. any amount spent for improving
property or making good lts "Shaus
tion for which an allowance is claimed
under depreciation.
Figuring the Tax.
Before figuring tn. normal taI the
! dividends are deducted n, credit. from
net income. together with the personal
exemption. AS in previous years. divi.
dends Of domestic corporations are eI
euipt from normal tax when received