The Hays free press. [volume] (Hays, Kan.) 1908-1924, 1921-12-29
THE INCOME TAX

for filing income tax returns
uary to March Is, 1929, taxpayers
are advised to lose no time in the com
pilataion of their accounts for the
year 1921. A new and important pro
vision of the Revenue Act of 1921 is
that every person whose gross income
for 1921 was $4,000 OF. over shall file
return, regardless of the amount OF
net income upon which the tax is
assessed. Returns are required OF
every single person whose net income
was $1,000 or over and every married
person living with husband or wife
whose net income was $4,000 or over
Widows and widowers and persons
separated or divorced from husband
or wife, are regarded as single per
sons.
Net income is gross income, less
certain deductions for business ex-
penses, losses, taxes, etc. Gross in
come includes practically all income
received by the taxpayer during the
year; in the case of the wage Garner,
salaries, wages, bonuses and commits
siOns; in the case of professional men,
all amounts received for professional
services; in the cases of farmers all
profits from the sale of farm products
and rental or sale of land.
In the making of an income tax re-
turn for the year 1921, every tax
payer should present to himself the
following questions:
What were your profits from
your business, trade, profession
or vocation?
Did you receive any interest
on bank deposits?
Have you any property from
which you received rent?
Did you receive any income in
the form of dividend or interest
from stocks or bonds?
Did you receive any bonuses
during the year?
Did you make any profit on the
sale of stocks, bonds, or other
property, real or personal?
Did you act as a broker in any
transaction from which you re-
ceived commissions?
Are you interested in any part
nership or other firm from which
you received any income?
Have you any income from
royalties or patents?
Have you any minor children
who are working?
Do you appropriate, or have
the right to appropriate the earn
ings of such children? If so, the
amount must be included in the
return of income.
Has your wife any income
from any source whatsoever? If
so, it must be included in your
return or reported in a separate
return of income.
Did you receive any directors
fees or trustees fees in the
course of the year?
Do you hold any Office in a
benefit society from which you
receive income?
Answers to all of these questions
are necessary to determine whether
a person has an income sufficiently
large to require that a return be filed,
and may be the means of avoiding the
heavy penalties imposed for failure
to do so within the time prescribed.
christmas cheer and good viii, 4"
DR.. c. F. West, excellent prelate of
Aleppo Commandery, said in course
of his sermon to that body, Sunday
morning, ''is intended for everybody,
young and old, rich and poor, learned
or illiterate. To whom came the mes
sage first? To the humble shepherds
on the Judean hills and after them
came the wise men. It shows also
that Christ appeals to all. Simple
enough for the humblest human being
but truly wonderful enough to chal-
lenge the attention of the most learn
ed There was a good attendance at
the Christmas service by resident
knights. After the services, which
lasted only thirty minutes, an offer
ing was taken for the endowment of
the Masonic Home at Wichita.
Most of the county officers spent
the holidays out of town: NJ. A. Bas-
gall at Pfiefer; R. A. Leiker, MunjOr
and Loretto; P. J. Rome, Victoria; |;
Louis Christensen, Smoky Hill.