Image provided by: Santiam Historical Society; Stayton, OR
About The Stayton mail. (Stayton, Marion County, Or.) 1895-current | View Entire Issue (April 3, 1919)
THIS T IL S HOW TO FiGUHE INCOME TAX 0 Squarely Up to Every Indivi lua' to Get Busy by March 15 x or Suffer Penalty. •D on't w att until the final due late. March t5th, for paying your In. ‘me T bs am t making your return. A 'old the lust m inute rush. Any ihtmiii enn figure out hi* llahlllty today a.* well a» he am nest week, and If there la any (mlat on which he needs advice he can now net In touch with a Ite'en u e man." This word of advice Is lie In». g veil out hy the Internal Itevenue men who are collecting the Income Tax In his state Every aid and assistance Is being given freely to the |iuhlle. K.i- lat'iced field forces are helping the two jde In every way jiosslhle to get their paym ents and their return« Iu hy March fifteenth. But the Income Tax men will not puli your door-bell or your o a t-la lls according to the CVIIeetor's annonnee- ment. It Is squarely up to ei cry Indi vidual to figure out his pw n case a u j to get busy If he conies within the scope of the new Itevenue law. Did You Earn This Much? Every unm arried person who receiv ed Income averaging $11*25 a w eek, during 1018 and every m arried couple who Jointly received Income averaging gt$3U a week should secure at on.-e front the nearest Deputy Collector or the nearest hank a blank Komi 1040 A. That form contains the inform ation lie will need lo enable him to figure bin correct net Income and any lax that lie owes the Government. The law requlr«-s that every unmar- , rlod person who had a net Income of $1,000 or over and g 'ery m arried law- son whose net It)come was $2,000 or over (including the .ncoiue of husband or wife, and the earnings of minor children, if any) must make a return on or before M arch 1,1th. And this re quirem ent docs not hinge on whethe. the person owes a tax. Taxable Income. An Individual muss' Include under gross income all gains, profits and In come derived from salaries, wages, or comiiensution for personal s e n Ire of w hatever kind and in w hatever form paid, or from professions, vo<-ations. business, soles or dealings in pro|>erty ' of all kinds. Interest, rent, dividends, o r profits derived from any source w hatever. Very few item s of income are exempt. Deductions Include ordinary and nee cssary business expenses. Interest paid o r accrued .on indebtedness, taxes of all kinds except Federal Income and excess profits tsxes and assessm ents for local benefits, losses actually sua> I tabled, debts ascertained to he w orth less. and depreciation on build ru*. m a chinery. fixtures, etc., used In htis'ness. A further deduction Is allowed for con tributions ta corporations operated for religious, charitable, scientific or edu cational puriKises or for the prevention of cruelty to children or anim als to an am ount not exceeding 15 per cent of the taxpayer's net income us computed w ithout the benefit of the contribution deduction. The taxpayer Is not allowed to de duct any personal, living or fam ily ex pense, any am ount spent for improving property, or any expense of restoring property or m aking good its exhaus tion for which an allowance Is oialmed tinder depreciation. Figuring the Tax. Before figuring the norm al tax the dividends are deducted as credits from net Income, together with the personal exemption. As in previous yearn, divi dends of dom estic corporations are ex empt from norm al tax when received by the stockholder. The normal _tax rates for citizens and residents are as follow s: On the first $4,000 of net Income in excess of the credits the rate Is 6 per c e n t; on any fu rth er taxable Income the rate Is 12 per cent. The surtax rates apply to net In come of each Individual In excess of $.">.000. The personal exem ption and the dividends are not deductible before computing surtax. In the case of re turns by husband and wife, the net income of each Is considered sep arate ly In com puting any surtax th at may be due. Form 1040 should be used for m aking returns of net Income exceed ing $5,000, and the instructions on that form will show how to figure the sur tax. Buainesa House R eturns. Em ployers and others who paid wages, salaries, rents. Interest or aim liar determ inable gains In an am ount of $1,000 o r over during 1918 lo any person m ust file an inform ation return with the Governm ent. Blanks may be secured from the Collector. Every partnership m ust file a return showing Its Income and deductions and the nam e and id d re ss of each partner, with his share of the profits or lessee during the past year. Personal service corporations will file sim ilar Inform s Hon for 1918. * * * * * * * * * * * * * * * * IN COM E T A X PAYS FOR P U B L IC B E N E F I T S . "Viewed In Its largest and truest sense, the paym ent of taxes Is paym ent for benefits received o r expected. Only from • narrow and es«entially selfish and shortsighted viewpoint can the Individual propose to him self the evasion of tax llahlllty as a desirable course of action.” —Daniel (J. Iloper, Commission er of Internal Revenue. **************** We Will Sell at Public Sale On beginning at 10 o’clock a. m. sharp, on Vilas Philippi’s place 1 1-2 miles east of Kingston or 3 miles from Stay ton—Good Roads—The following described property: One roan gelding» 7 years old» wt, about 1600 One bay gelding» 8 years old» wt» about 1300 One black mare, 5 years old, wt, about 1250 One chestnut sorrel gated saddle horse, 9 years old, wt. 1140 Forty-six head of high grade Angora nannie goats, not sheared, some little kids with them Five head of stock hogs One set of heavy leather butt breeching harness One set of chain plow harness One single buggy harness One 3 14 in. wagon One 3 in, wagon One buggy One spring tooth harrow One 3-sedion lever smoothing harrow One riding cart for harrow or spring tooth * One Disc harrow One 40 Oliver chill plow One 50 Oliver chill plow One disc plow * One McCormick 5-foot mower One McCormick hay rake One broadcast seeder One power root cutter One brand new 7 horse Hurlese gas engine One set of platform scales One Cloverleaf hay carrier for wooden track One 1-horse garden cultivator One hand cultivator One blacksmithVhorseshoer anvil One castiron portable geared forge One big hand drilL One heavy blacksmith's solid box vice All kinds of blacksmith tongs, in fact a com plete blacksmith shop 1 7-foot falling saw One power grind stone and emery wheel combined 60 bushels of Burbank potatoes Some household goods 20 white Angora rabbits Other articles too numerous to mention T C n ilC All sums of $10 and under cash. All sums over $10 time will be given till I ClinlO October 1st at 8 per cent interest on bankable security. All articles must be settled for before leaving the grounds LUNCH WILL BE SERVED ©N THE GROUND E. D. and V. J. PHILLIPI, Owners GEO. KEECH, Auctioneer WALTER MAYO, Clerk