The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1952-02-07
y our
Income
Tax

Nv JAMES MAkLoW
WASHINGTON A-Remembea
these points before making your
1861 income tax return on The ios6
long form
1. Besides Form i0s0, yea nees
Of le-page government pamphlet
called How 10 Prepare Your L. =
Income Tax Return
It's the instruction sheet for ~
lng PORN l040. You have 10 use
''e tax rate schedule on the bach
ior figuring your tax.
2. When a wife has no income
couple can't lose BY filing q loir
return on Form 1000. For u 10 b.
lolni return. both must sign i
In most eases, bat NOT all. they1
save with a ioinl return uhen hoif
have income Since there are ey
ccptions. Try II Jointly and sep
sraiely before turning II in
N you turn la separate return
and later realize you would have
saved By q nini one. you can a
Any time before March Is. 1855
withdraw those separate return
by substituting q JOINT return n
gei a refund.
q BE sure. before seeding youi
return 10 the collector. that you
attach 20 Il all your withholdins
reccipts--Form va. Form va.
given by your boss. Is the pn,of
n IRE ~onev be paid vou and ths
income tan he withheld from your
pay IN 1851.
a. You filc the return by send
ma Il 10 the internal revenue oo
hector for your district With II y0,
must pay IN full any tax owed
" you were 0yertaxed in lss
on 1851 income. note that fact OF
Line =, Page !. Indicate there
whether sou want a refund
5. II you're one Of the self EN-.
ployed people who must pay . So.
cial Security tax now on your in
come from self.employmeni IN
1851, show what your Social Sc
Curiiy tax Is on Line 5 OBJ, Page
I. The tax Is q. per cent on the
first $500 Of your seIf-employed
income.
YOU must pay that Social We.
curity tax. plus any income sas
0wci. when you file your return
- Form 1910. Self.employed PEG
pie. besides Form 1000. must alsc
use another. separate form. called
Schedule &. There they provide
information on which they base
their Social Security tax.
D. Be careful 10 claim all Inc
exemptions 20 which you're en-.
titled. for each exemption ,ou
ki.ock $500 off your income. What's
eff Is taxable.
Everyone filing return GETS
500 off for himself. another 500
Y he's blind. and siill another 5000
u he's O.. And you get saoo off
ior each dependent but nothing
extra n he's blind er es.
Note A wife Is not considered
dependent 80 the rule ON ex.
cmpiions for wives Is . little com.
pllcated.
II your wife had no income and
IS MT someone else dependent
and you alone file n return-or Il
she did az did not have income
bat files jolnsly with you---you Get
5000 exemption for her. plus $500
n she's blind. plus 600 n she's Is.
/ Note n youf wife had any IN.
e"fne ~ all ma matter how small.
you vet no exemption Cor her un.
less she files Jointly with you. n
= wife files scpnrafely. she claims
her exemptions on her own return
T. Anyone with $500 or more
income gets for deductlble per.
sonal expenses what Is called 0
standard deduction. n means shas
without iiemizing OF having 10
PROVE anything--you take q deduc
iioa Of 10 per cent 81 your income
up 10 q limit of $1,000 You deduct
'ha' sn1uch fyom yeur income be.
fore wha1 . lcffsis TAXABLE.
tAanpk jon&. incame $1,000
standard dednction u 10 per cent
= 5000. Smith. income $1,000
standard deduction Of 10 per cent
&ivcs him the limit. 81 200. Brown.
Jncome sizooo--ean take no more
Than that limit AZ $1,000 unless his
expenses were more and he wants
% iicmize.
Anyone whose dcductible expcns.
3 amounted 20 more than that
standard deduction can claim them
a fuh bet IN that case he must
temize them all on Page } ~
Form io40, and be prepared 20
prove he had them.
And right here. for husbands and
wives. comes a problem which
single person. win ss.ooo or more
inceme. doesn't have on Form io<o.
Ihat single person takes me
standard deduction. n that's not
ennngh 10 cover has expenses. he
can claim them all BY ltemixlng
When q husband and wife 'lle
joini resurn-whether or not both
had income--they can take the
standard deduction o. iiemlze 10
SET more than the standard deduc.
ton gives them.
fuf nnls Wheu = h.sh...a ia.