The united American : a magazine of good citizenchip., January 01, 1925, Page 26, Image 26

Page Twenty-six
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THE UNITED AMERICAN
gift, bequest, devise, or descent is not
tazable under the federal income tax
but the income from such property is
taxable.
Were both the husband and wife con­
tribute to the support of a dependent,
the credit of $400 must be taken by the
one contributing the chief support. The
law expressly provides that the deduc­
tion on account of a dependent cannot
be claimed by more than one person.
If an individual receives a salary and
also an allowance for meals and lodging,
as, for example, a per diem allowance
in lieu of subsistence, any excess of the
cost of such meals and lodging while
away from home in connection with his
business is taxable income under the
federal income tax law.
Under the 1921 law, the status of a
taxpayer on the last day of the taxable
year determined the amount of his
exemptions. Under the new act of 1924,
the status of the taxpayer is determined
by apportionment in accordance with the
number of months the taxpayer was
single, married or the head of a family.
Unless the joint net income of a
married couple during 1924 amounted
to $2,500 no return will be required.
Under the 1921 act, married persons
having a net income of $2,000 were re­
quired to file returns, although entitled
to exemption of $2,500. Uniform exemp­
tion of $2,500 is provided in the new
law for all married persons, regardless
of the amount of their net income. Un­
der the former law, only married per­
sons having a joint net income of not
to exceed $5,000 were entitled to an
exemption of $2,500. Those whose net
incomes exceeded $5,000 were granded
an exemption of only $2,000.
Computing the tax on income for 1924
in the case of a married man with no
dependents whose earned net income is
$7,000 and who has other income of
$1,500, a total of $8,500, the tax, with­
out the benefit of the 25 per cent re­
duction would amount to $160 — $8,500
less an personal exemption ’ of $2,500
equalling $6,000 on which the tax on the
first $4,000 at 2 per cent amounts to
$80, and on the next $2,000 at 4 per
cent, to $80. On the earned net income the
tax aments to $100 — $7,000 less the
exemption of $2,500 equalling $4,500 on
which the tax on the first $4,000 at 2 per
cent amounts to $80 and on the remaining
$500 at 4 per cent, to $20. One-fourth
of the tax on earned net income, or $25,
can be deducted from $160, leaving $135
as the total tax payable.
Salaries paid officers and employees
of the state or any political subdivision
thereof, such as a city, town, county, or
school district are exempt from taxa­
tion under the federal income tax law.
Such officers and employees are not re­
quired to include money so received in
their gross income, neither are they re­
quired to file an income tax return un­
less their net income, exclusive of such
salaries or wages, amounts to $1,000, if
unmarried, or $2,500, if married and
living with husband or wife. On the
other hand, federal officers and em­
ployees whether elected or appointed,
are required to pay an income tax on
salaries received from the government.
JANUARY, 1925
Bits of Humor for the Home Circle and the Fireside
DIN’T CARE
Rastus Jackson, a thoroughly married
darkey, was one day approached by a
life insurance agent.
“Better let me write you a policy.
Rastus,” suggested the agent.
“No, sab,” declared Rastus emphati­
cally. “Ah ain’t any too safe at home
as it is!” — Judge.
SLIGHTLY DIFFERENT
An Englishman went into a restaurant
in a New England town and was served
for his first course with a delicacy un­
known to him. So he asked the waiter
what it was and the waiter replied:
“It’s bean soup, sir.”
The Englishman would .stand for no
kidding. He blurted: “I know it’s been
soup, but when?”
and asked the minister if he might be
allowed to preach the following day.
“My dear young man,” said the
minister, laying a hand on his shoulder,
“gin I let ye preach the morn and ye
gie a better sermon than me, my folk
wad never again be satisfied wi my
preaching; and gin ye’re nae a better
preacher than me, ye’re no’ worth
listening tae.”
Cash Paid for false teeth, dental, gold,
platinum and discarded jewelry.
Hoke Smelting & Refining Co.
Otsego, Michigan
WHEN THE “MOON” IS WORKING
After having several drinks of white
mule, two rustic youths were uncertainly
fliwering home.
“Bill,” said James, “I wancha to be
careful. First thing y’ know you’ll have
us in a ditch.”
“Me?” said Bill, surprised. “Why T
thought you was drivin’.”
— Illinois Motorist.
HE WALKED RIGHT IN AND —
“Have you an opening for a bright,
energetic college graduate?”
“Yes, and don’t slam it on your way
out.” — Medley.
UNDISPUTABLE PROOF
An Irishman and a Scot were arguing
as to the merits of their respective
countries.
“Ah, weel,” said Sandy, “they tore
down an auld castle in Scotland and
found manny wires under it, which
shows that the telegraph was knoon
there hoondreds and hoondreds of years
ago.”
“Well,” said Pat, “they tore down an
ould eastle in Oireland, and begorra
there was no wires found under it,
which shows that they knew all about
wireless telegraphy in Oireland hundreds
av years before that.”
VALUABLE GLASSES
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There is a real but often unsus-
pected value in certain things you
buy.
The Honor and Integrity of the
firm from whom you purchase your
Eye Glasses is worth many times
more than the price paid for the
glasses.
Your surety of Satisfactory
Service depends entirely upon this
real but unpaid for value.
For your next pair of glasses see
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D. CHAMBERS & SONS
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VISION SPECIALISTS
167 Broadway
Portland, Ore.
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CLASSIFIED
Professions—Business
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ATTORNEYS
NELS JACOBSON
806 N. W. Bank Bldg, Main 4416
DAVID E. LOFGREN
1030 Ch. of Com. Bldg. Brd’wy 0462 I
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The place to trade
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STAPLES |
The Jeweler
266 Morrison Street
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THE “KIND WORD”
A Yankee strolled into a city teashop
took his seat, and waited. Presently a
bright-eyed waitress approached him,
and asked —
“Can I take your order?”
“Yes. Two boiled eggs and a kind
word.”
The waitress brought the eggs and
was moving on, when the Yankee said,
“Say! What about the kind word?
The waitress leaned over and whis­
pered, “Don’t eat the eggs.”
A CONCLUSIVE ARGUMENT
A certain Scottish minister in a West
Highland parish had never been known
to allow a 'stranger to occupy his pulpit.
On one occasion, however, an Edin­
burgh divinity student, who happened
to be spending a few days in the parish,
called at the manse1 on the Saturday
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Phone Main 1165
Dr. Harold G. Trommald
DENTIST
Regular office hours every day
Evenings by appointment
805-807 Journal Building
Cor, Yamhill and Broadway,
Portland. Ore.
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Phone Main 4389
DR. LEIF UNDERDAHL
DENTIST
and Combination Bridge
Work a Specialty
Office: 1221 Selling Building
Sixth and Alder, Portland, Oregon
Plate
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Reg. Office Hours
Place Your Orders With The United American Advertisers—and Tell Them Why
Eve. by Appointment