The journal. (Caldwell, Ohio) 1934-1961, 1959-01-01

ants.
Must | file federal income tax
return for 1858?
If you are under IS and had
gross income of 5000 or more, or
over IS and had gross income of
$1,000 or more, you must file a
federal income tax return re-
gardleSs of whether you owe tax
or not, and it does not matter
whether you are a man, woman
or child; you are required to file
a return by April Is, 1859.
1t may be that you had income
Of less than $500 Cor $4,000 and
income tax was withheld from
your paychecks. In this case, you
should file tax return. 1t will
show that you owe no tax and
will act as a claim for refund
of the withheld tax.
1t IS always a good idea to get
these returns in as soon as pos
slble. The sooner you file your
return, the sooner you have your
refund.
You are not taxed on your
gross income, but on your tax
able income. Taxable income is
money or its equivalent in goods
or services.
To arrive at taxable income
gross income is reduced by the
cost Of what you sold. For in
stance, if you sold merchandise
for $500 that cost you $1.00, then
you have a gross income of $500
but your taxable income would
be only $1.00. What you received
for the merchandise, less what
it cost you. You would also
deduct any expenses you had in
connection with the sale.
The same is true of your SER
vices. For instance: John Tax
payer is a salesman and has
many expenses of selling, travel
ing, etc. These costs are deducted
from income on page one of the
tax return and have no bearing
on whether or not John uses
short form l040A, computing his
tax from the tax table; or takes
the standard deduction; or item
ICES his deductions.
Joe Taxpayer, Johns brother
is an employee. He started work
this year. To get the job he paic
an employment agency fee, join.
ed his union, paid an initiation
fee and monthly dues. Joe hae
to buy tools and supplies neces
sary to his job. Joe is required
by his employees and the duties
of This job to purchase and main
tain special uniforms and worl
clothing not adapted to stree
wear.
These, and many other costs
Joe takes as deductions on page
two of the return. They can bt
taken only if Joe files long form
1040 and itemizes his deductions
The deductions are lost if Jo'
files a short form 1040, form
l040A or takes his standard
deduction.
There are many deduction
that John Taxpayer, Joe TaXpay
er and the merchant can taxi
and some kinds of income ar
not taxed. That's what thes
columns are about. Be sure t
| read every column. If you hav'
specific problem you shoul'
consult your accountant as earl.
as possible.
"Self-help" again will be tn
dominant theme in the program
of taxpayer assistance offered b,
Internal Revenue Service durin
the 1859 Federal income ia.
| filing period, Nathaniel LOCKER
| Director of Internal Revenue TO
the Columbus District, announc
ed today.
! "Self-help," Mr.. LOCKER sale
means that we would like tn
taxpayer to complete as muc
| of his return as possible befor
calling on us for help. In tina
| way both of us will be in a bette
| position when help is needed t
get clear picture of the facts.
"As in past years, we are OF
fering an extensive program {
taxpayer assistance by telephone
Based on the experience of pre-
wous years, however, we sus
geSt that you'll get better servic,