Cleveland County herald., 1919-03-13
THIS TELLS HOW T0
 FIGURE INCOME TAX
ssguarely Up to Every Individual ts Get Busy by March IS
 CT Suffer Penalty.

-Don't wnIt until the final due date, arch Is, for paying your Income Tax d making your return. Avoid tho It minute rush. Any person can ns- out h's liability today as well as he a next week, and If there is any .snr Oil which he needs advice he can " ~et in touch with Revenue man. inis word of advice is from Jack ssai. Collector of Internal Reve-
 tic Rock, who Is collecting the Tsx In Arkansas Collector k giving without charge every Eis office and hts enlarged field
 help tn. people set their pay
 and their returns in by March .fs he Income Tax men will not -. TIT door-bell or your coat-tails. s.sco.;ng to the Collectors announce l.,'4nt. It is squareiy up to every lndi- ytaenl to figure out his own case and :s Wt husy If he comes within tine woi,t of the new Revenue law.
 Old You Earn This Muchi
 
 Es9efy unmarried person who re- s,lsod income averaging S19.20 week iaisR 1918 and every married couple .san Joiutly received income averaging k,sl % week should secure at once fresn tho nearest Deputy Collector or tho nearest bank blank Form 1040 A. That form contains the information he Ia, Ia ,l~, c@rrucf net income and any tax that he t,~.a the government.
 He law requires that every unmnr- ,ssA person who had q net Income of VI GOO or over and every married per s.n whose not income was $s000 or ever (lncluding the income of husband wr wife and the earnings of minor children, if any) must make return oa or before March 19th And this re- Juiremcnt does not hinge on whether tho rerson owes Ii tax.
 Taxable Income.
 An individual must include under gross income all gains, profits and in- ,nnie 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 nre exempt. Deductions include ordinary and nee sMsary business expenses, interest paid .r accrued on indebtedness, taxes of ali kinds except Federal income and excess profits taxes and assessments for local benefits, losses actually sus- tairel debts ascertained to be worth- less and depreciation on buildings, ma chinery, fixtures, etc, used in business. A fIrfhcr deduction Is allowed for GOA tribu,lons 10 corporations operated for religious, charitable, scientific or edu- ,a. .n.la purposes or for the prevention !. ,f'ioity to children or animals to an .. ai not exceeding Is per cent of ayers net income as computed
 ne benefit of the contribution
 sxpayer Is not allowed to de- s4 'ey personal, living or family ex- Il .a. ,ny amount spent for improving s Y or my expense of restoring
 1; or making good it's cxhaus-
 which an allowance Is claimed ;a appreciation.
 Figuring the Tax.
 l-~fore figuring the normal tax the s1ieiGeads are deducted as credits from snf aeon,a. together with the personal .on As in previous years, divi- i> domestic corporations are ex ais normal tax when received ". af stoeiiholder.
 lao normal tax rates for citizens .es,si residents are as follows: On the ii.'s, $iGo0 of net income in excess. of 'a credits the rate is 6 per cent; on ,ny further taxable income the rate Is t2 per cent.
 The snrtax rates apply to net in tot,s of each individual In excess of X, ,e3o The personal exemption and the dividends are got deductible before surns by husband and wife. the net in- epInc of each is considered separately n computing any surtax that may be .ue Form 1910 should bc uspd for making returns of net income exceed- I,,g s5,o0o. end the instructions on that form will show how to figure the sur :Iy
 Busincss House Returns.
 Employers and others whc paid ages, salaries, rents, Interest or sim i.r determlnable gains in an amount # sl,000 or over during 1918 to any ,rrson must file an information return wiiiii tthio Government. Blanks may be secured from the Collector.
 Every partnership must file g return showing its income and deductions and ihe name and address of each partnes, with his share of the profits or losses during the past year. Personal service rnorat;ons will file similar ipfoFma- ~n for 10iS
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