Show Married Men Meri Must Pay Tax ax axIS IS Sage age Advice Is s Given Here 1 income Facts Wanted by U. U S. S I I By Basil M. M Manly i r Telegram Eco nomie Expert 1 men and heads of j MARRIED VI families are not required to tom tomake tomake I m make ke an Income tax x re return return return re- re turn unless the combined net income of the parents and de dependEnt dependent dependent de- de pendent children under 18 years of age exceeds 2000 You may figure that on account of exemptions you are not liable to i pay a cent of tax b but t. t if Ir your your net income exceeds 2000 you must make a return before March 1 I. I or orbe orbe be he liable to a fine of f not nol less than 20 For the average mans man's purposes It is is' is sufficiently to say that net income is the amount that thatis is left after you deduct from your total receipts from all sources the sum of the following items Business Business Busi Dusl- ness expense interest on indebtedness indebted indebted- ness except loans made to purchase purchase purchase pur pur- chase Liberty bonds or other tax exempt securities taxes except I l federal income and excess profits I 1 II taxes losses Incurred in business or trade bad debts actually charged off reasonable le allowance I for exhaustion and wear and tear of property used in business or trade and contributions to religion religion ion charitable educational or scientific scientific set set- I organizations not exceeding 15 per cent of net income I SOME EXEMPTIONS i I You need not include however I in your calculation of income the I following items Proceeds of life insurance policies gifts girts or bequests Interest on the obligation of any state county or city or on bonds of the United States except as provided provided pro pro- vided In the act authorizing the is issue issue is- is sue or salaries or wages paid by bya I II a state county or municipality The last exemption lets out public school teachers policemen and firemen firemen firemen fire fire- men whose salaries are not tax tax- able It must be understood however however however how how- ever that any income derived from the investment of life insurance proceeds or or from legacies or gifts Is taxable and must be reported If this general definition of how to determine net Income is not sufficiently detailed to cover your case you should either go to the internal revenue office and get a clerk to help you out or wait for forthe forthe forthe the special article which will appear appear appear ap ap- ap- ap pear in The Telegram tomorrow on that question It used to be the case under forI former former for for- I mer revenue acts that employers I j deducted the amount of income tax j from the compensation of all their taxable and turned the I amount into the treasury but under under under un un- der the present law this withholding withholding with holding at the source is not done I The himself is responsible I both for making his return and paying his tax But the employer I Is required to report the amounts paid to so that Uncle Sam has a complete check and can round up the tax slackers LITTLE TROUBLE If you read yesterdays yesterday's article in inThe inThe inThe The Telegram telling single men exactly how to fill out an income tax form you ought not to have any great amount of trouble in making your return unless unless' your our income presents some of the complex complex com cont- plex plea questions that will be covered later The only point of difference between be between between be- be tween the tax on single men and married marrie men is in the amount of exemption Single men arc are taxed on all net income over 1000 while married men not only hat ha haTS C an in individual individual individual in- in exemption of 2000 2002 but butare butare butare are also allowed allowed exemption for each dependent child under unde-r 18 or over over that age if incapable of self support because mentally or physically defective For example a married man widow or widower With two childre under 18 and one older half witt or crippled child would not have to pay an income tax unless the net income exceeded exceed- exceed ed ed 2600 Tomorrow Tomorrow What What Is Net Ket Income |