The Canon City record with which is consolidated the Canon City cannon., 1919-01-30

given wide publicity throughout tne
country in order that people may IA
miIiarize themselves with 1t. There
Is in it much Interesting information,
especially 10 those who are subject to
income. or special taxes OF any kind.
and its perusal can hardly prove 9TH
oerwise- than illuminating and helpful:
The big income tax drive OF 1913
is now under way and every prepara-
tion is being made TO handle the larg-
est collection in the history of the in
come tax. am not waiting for the
final passageoof the new revenue Dill
by Congress-. declared Collector Mark
A. Skinner in Denver few days ago,
nor for the new regulations and
blank forms to be issued. To get this
a big tar in and get 1t accurately ] urge
that We all begin now.
rThe income tax obligations i'm
posed by the old laws. as well as the
measure now IN Congress. consist OF
two distinct operations. One iH. TO
file return or -statmert OF all items
of income and items OF deductions al
IowabIe by law. and 10 do this within
the period named in the law The
other is. TO pay the tax. II any is due
Neither of these obligations can be
met without a careful review OF in
come and expenditure for the tax
year That is the big Job right now.
ard that is why I say the income tax
drive is already under way. Every
where the pencil IS busy The old
year is done: all its fruits are cleaned
and every person who Jared well. or
earned a good competence must anal
yze his own case In cold figures
when the new bin is enacted into
law. l will have the proper return
forms distributed throughout the dis
.trict. and everybody will be informed
of the date when the sworn statement
mus, be filed. II is my plan 10 send
my men out 70 central locations, and
TO have them travel through the dis
frict aiding taxpayers In the prepara-
fion of the returns nnd in deciding
doubtful points. We will go right 20
the people with ,he income tax. and
with the cooperation which the public
can give the government men. the re-
turns vii be filed by erersbody who
comes under the laws provisions, the
right taxes will be paid and the dis
.rie, will have done its full patriotic
duty toward the governments sup
port
Meanwhile. let me say again.
there is no need OF delaying the prep
araticn OF figures. Anynsfne that
Congress siees now viii not afIect the
amount OF persons earnings Tor
1918. Let us avoid the belaied throw
ing together of figures tha, may biz or
miss. Guesses cannot be accepted
~ the basis OF taxation. IL is clearly
the duty of every person 10 compile
correct figures and ascertain whether
his income for 1915 was sufficient TO
make necessary sworn return.
The year 1918 was a banner year
for salaries and wages and the high
war prices brouefIf unusual profits 20
the average small tradesman and TO
the farmer. The opinion in Washing
fs,p IS that 1000 600 citizens and resi-
dents will make tbis year their nrst
income tax returns.
IAN signs Indicate shat the income
tax this year will reach nearly every
working man and woman and nearly
every merchant, shop keeper AND
farmer Nos all will have to pay the
tax. but nearly all win Ce obliged to
make sworn statement of the years
income
Il am. therefore. urging every un-
married person who earned $1,000 or
over during the year 1913. and every
married person. VINO together with
wife or husband. earned $1,000. TO
sharpen his pencil and beure out how
he stands.
He must ascertain accurately his
gross income tax from all sources.
There's his salsry or wages, including
overtime pay aud any bonus received
as additional compensation. A mar
ried person hsvins children under IS
who are working should include the
earnings of such children.
..If he sold any property zf a proht.
the gain must be computed and IN
clueed In gross income. II he rented
any property to other persons, the to-
fal rents received in the year runst be
,sacertained, and from that figure a
deduction may be taken for taxes paid
on rented property. the necessary
minor repairs, flre insurance. any IN
teresf he may have paid on mortgage.
and q reasonable allowance for annual
wear and tear Of the rented property
The balance Is included in gross in
come foy the year.
Interest On bank deposits, whether
withdrawn or added TO his bank bal
ances, must be included In NIL calcu-
lafions OF income. Bond interest re