The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1922-01-19
MORE DATA ON
INCOME TAXES
Income Assessor Cundy
Gives Out List of Tax
able Incomes.
MUST FILE REPORTS

70 make 1t easier Tor the income
tax payer to know just what he must
include as income, Robert L. Cundy, as
SCISSOR of incomes for Kenosha county
todays gave out information showing
what is considered taxable income for
state income tax purposes. The list
decides many knotty tax problems and
will be of interest to all Kenoshans
when they sit down to make out their
report for the past year. In giving
out this statement, Assessor Cundy
also reminds the tax payers that all
state blanks must be filled out and
filed by March 1st.
"Get them in row and avoid the
rush." is his advit
What is Taxable Income.
Here is the list showing is
taxable as income by the $ n
come tax |,
/. All compe nsation for personal OF
professional services, whether in the
form of wages, salaries, fees or COM
missions.
2. Bonus received by employees.
8. Salaries and wages of all state
and local officials, including judges.
4. All salaries, stipends, gifts re-
ceived by clergyman in their own
right in the performance of their pas
toral duties.
5. Reasonable value of accommoda-
tions furnished to officers and employees
as part of their salaries, such as board
and lodging. Residences furnished
pastors, teachers, etc.
6. All rent of Wisconsin real estate
including royalties received from ex-
tracing ores.
Z. All interest on all bonds received
by residents of Wisconsin. Except
on U. S. bonds, treasury certificates
and interest on securities issued under
the federal farm loan act.)
8. All interest received by residents
of Wisconsin on mortgages, notes and
other evidences of Indebtedness, wheth-
er executed by parties or secured by
property within or without the state.
9. Interest accrued, if returns are
maze on the accrual oasis.
10. All dividends declared out of
profits accumulated since the first of
January 1911, which have not been
taxed to the corporation distributing
the same.
II. Stock dividends to the same ex-
tent and under the same circumstances
as cash dividends.
IL. All profits derived from prop
erty located or business transacted
within the state.
10. All profits from the sale of real
estate or other capital assets accrued
since the first day of January, 1911.
| Ia. The reasonable value of farm
products consumed by the owner and
all supplies from a merchants stock
used by his family.
Is. Income from inheritances, be-
quests and trust estates.
&c. Dividends from state and ma
tional bank, not taxed under the Wis
consin laws (Chapter 65, Laws 1929
! II. Dividends declared by a corpor-
alton from depreciation reserve.
| 10. Endowment or other insurance
paid to the insured in his lifetime in
excess of the premiums paid therefor
10. Dividends declared from reserve
fund to cover depreciation or bad ac-
counts.
20. Money or it's equivalent, receiv-
ed from notes, accounts, etc, which
were allowed as deductions for losses
| in previous wears.
| 81. Taxes which are refunded by
the United States or any municipality
which has been allowed as a deduc-
ton in previous years on returns OF
the recipient.
Expenditures not allowed as deduc
tions will be published in the neal
future. Each person who receives 6
state income tax blank, should fill out
same and file it with the assessor Of
incomes, whether that person has tax
able income or not. 1t may be thai
rents, interest, etc, are being traced
The duty to report taxable income
rests with the persons having taxable
| income In matters of taxation, stand
by America-be an American.