The Lexington intelligencer. [volume] (Lexington, Mo.) 1901-1949, 1919-03-07
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 lIal uLe uale'
March 10th, 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 if there is any
point on which he needs advice he can
now get In touch with a Revenue man.
This word Of advice is being given
out by Internal Revenue men. Re,
turns and payments are being col
lected in Missouri by the following
Collectors of Internal Revenue
George Moore.
George f. Crutchley.
Every aid Of their offices and field
forces is being given freely to the
public
But the Income Tax men will not
pull your door-beIl or your coat-tails,
according to the Collectors announce
ment. 1t Is sQuarely up to every indi'
vldual to figure out his WI case and
to get busy II he comes within the
scope of the new Revenue law.
Did You Earn This Mueh7
Every unmarried person who re-
celved income averaging Sl920 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 Il 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
owes the Government.
? The law requires thar every unmar-
: ried person who had a net income OF
$1,000 Or over and every married per
son whose net income was 5000 or
over Oncluding the income Of husband
or wife and the earnings OF minor
children, II any must make a return
I on or before March 10th. And this re-
Quircmcnt does not hinge on whether
r the person owes a Tax
Taxable Income.
An individual must include under
gross income all gains, profits and in
2, come derived from salaries, wages or
d compensation for personal service OF
whatever kind and in whatever form
So paid or from professions, vacations,
m business. sales or dealings in property
,e Of all kinds. interest, rent, dividends
I'd ar profits derived from any source
1r whatever Very few items OF income
III are exempt.
Deductions include ordinary and nee
,a eSSary business expenses, interest paid
or accrued on Indebtedness, taxes OF
all kinds except Federal income and
excess profits taxes and assessments
Cor local benefits, losses actually sus
wv tanned, debts asccrtaiued to be worth
- less and depreciation on buildings, ma
chincry. fixtures, etc, used in business
III A further deduction is allowed for con
tributionS to corporations operated 70
III religious, charitable, scientific or edu
OF c|ational purposes or for the prevention
le, OF cruelty 70 children or animals to aT
wv amount not exceeding 10 per cent %
RS the taxpayers net income as computed
re. without the benefit ~ the contribution
ne deduction.
YES The taxpayer is not allowed TO dc
.ch duct any personal, living or family eN
in pense. any amount spent for improving
tie property or making good its e1hauS
a ton for which an allowance is elaine,
Ike under depreciation,
he Figuring the Tax,
be Before figuring the normal tax N
or dividends are deducted AS credits fror
80 -. -.-..va.