The Coquille Valley sentinel., January 28, 1943, Page 8, Image 8

FÂABJUGHT
Minor Mention
salute to urn:
Federal Income
Tax Information
Every individual is allowed a credit
against his net income which varies
with his domestic status, that is,
whether he is (a) a single person,
(b) a married person living with
husband or wife, or (c) a head of
family, This credit is known as per­
sonal exemption, and is shown on Une
The
Mr. end Mrs. Ora F. Allen left last 1 of the return Form 1040,
Saturday for Portland after receiv­ amount of the personal exemption
ing word that her brother had passed also varies depending upon the perl-
dU during which the taxpayer occu­
away there.
pied the particular exemption status.
The personal exemption for a single
Mrs. O. L. Newton returned last
Thursday evening from Portland. | person is $500 for the year; for a
She left the Rose City at seven o’clock , married person living with husband
Wednesday evening and arrived at or wife, $1200; and for a “head of
Eugene, by train, at seven the next family," $1200.
(Personal exemp-
morning, due to the storm conditions ! tion as head of a family has no cf-
last week. Her sister, LaVerne, Mrs. ; feet on liability to file a return.) For
Eldon Brodie, and baby will be up Federal
Income
tax
purposes,
there for a week yet.
widows, widowers, divorcees, and
Mrs. Bennett Swanton, Sr., left
Marshfiild Tuesday to join her son
»nd his wife and children who are
.caving at once tor Virginia, where
Bennett Swanton, Jr., has been in
training at Camp Roberts, » Calif.,
since Timnksgiving. He anticipates
after two'months further training in
the east that he will be sent overseas.
personal exemption applicable to" a
married person may be taken in the
return of either or divided between
them in any way as they may agree,
but the total personal exemption taken
in the two separate returns may not
**
I, his exemption would be $5oo, ir­ exceed 11100.
respective at the date oh which he
became a widower, The amount of
the exemption la not deductible from
the Income but is reflected in the
amount of tax shown in the table on
the reverse side of the form.
Taxpayers using return Form 1040
obtain personal exemption propor­
A timely film, crammed with ac­
tionate with the number of months -
during which the particular status is tion, romance and excitement, will
held. Thus, for a person who married open at the Liberty Theatre Friday
on July 1, (who was not a head of for three days when Warner Bros.’
family prior to his marriage) the per­ “Wings For The Eagle” makes its
sonal exemption would be $850 local debut. The picture features
($250 for the six months as a single Ann Sheridan and Dennis Morgan
man, plus $600 for the six months as tn the top roies with an impressive
_______ _
__________ _ a married man). In this example it supporting cast made up of Jack Car-
indiviual who actually supports and
assumed that the wife has no In- son, George. Tobias and Russell Arms.
The realistic setting is the huge Lock­
maintains in one household one or , c°h'e,
heed Aircraft Plant where the Con­
more Individuals who are closely
Married persona may, however, file
stant fight against time surprasses all
connected with him by blood reta- Joint returns, even though one has no
perosnal conflict.
tionahip, relationship by marriage or ,income, and by filing a joint return
Ann Sheridan, Dennis Morgan and
by adoption, and whose right to ax- (a couple married during the year may
Jack Carson are all workers at the
ercise family control and provide for obtain an exemption amounting to
Loekheed Plant who constantly are
those dependent individuals is based the exemption to which they would 11
at odds among themselves until Pearl
(
be
entitled
for
the
period
of
married
upon some moral or legal obligation."
Harbor puts their own problems into
A single person, or a married person status, plus the amount of their in­
1 the background. Lloyd Bacon who
nut living with husband or wife, may, dividual exemptions prior to their
has directed many a hit film, comes
therefore, enjoy a head of family ex­ marriage. In the example given the
acres« with another in “Wings For-
_____ _ under certain
____ _ conditions.
________
total exemption in a joint’ return
emption
The Eagle.”
Taxpayers using a Simplified Re- would be $1100 (250 for each spouse
turn (which is permitted if the gross for ,ix months plus $$00 for six
"Wings For Eagle"
Coming To Liberty
Friday, Sat., Sunday
Fuhrman's Pharmacy
Open every night until 8
Adults 35c Kiddies lie
NO RAISE IN ADMISSION
FOR THIS BIG ............
... UOUI
Keys maaa r<
!'«»h Hardwart
ITHUR.
FRI
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... Man
With win*«
Sabatini’s greatest story
of the sea comes roaring
on the screen...a mighty
Technicolor triumph!
BARGAIN NIGHT
Adults 25c
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Secret
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SMILEY BURNETTE ►
THE SONS OF THE PIONEERS [
RUTH TERRY THURSTON HAIL
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Liiri RAZAh
DOROTHEA KENT
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