| Show FEDERAL INCOME 1 4 AA V RIEF the requirements dolled boiled dc for busy folks returns must bo be lied filed on or before april 1 WIS 1118 tux due may lony he paid now or on or before juno julie 15 1018 1918 if you are single anil and your not net in onto conic for 1017 iva was 1000 W or more you must lie file a return if yon yen were married nil lind living with wife 01 hust husband aind and ancl lilt lidid n net income of awo am or more for 1017 you must lie file a return Ilu shands and wl cifes es income must be considered jointly plus income of minor children income of a minor or incompetent derived from a separate estate trust must he t reported by ills his legal representative severe penalties tire are provided for those who ct or evade tile the laxy law for falso or fraudulent return there Is a penalty not exceeding 2000 title ine or years imprisonment or both bolli plus per cent of tax for failure to make return on or before april 1 1018 line fine la Is from JO 0 to 1000 plus 50 60 per cent of at tax lite due returns must lie be lied filed with the collector at of internal It evento of district it in you live an alt agent may tile return for a person who Is 14 absent from the country or otherwise incapacitated each return must be stoned signed and beorn rn or by person execute lilt it single persons tire allowed lovel al IW 1001 exemption in computing normal tax A married pe son living with wife or husband Is ili allowed allowe 11 2000 encin exemption plus for each do dependent ende child under 18 A bend of family though single ira H allowed 2000 exemption if actually supposing one or more relatives returns must show ilip he entire amount of earnings pains gains arid and received during tile dwar oni cinis atio employees tire not taxable on oil the llie salaries or wages rec recel elveI veil frota from it 11 state slate county city or town in ili the I 1 united tilted states fares interest on oil state and municipal ban bonds is iq issued two within the U S Is exempt em p t fro from r a f federal income tax and should be omitted interest on united states government bonds Is also exempt except on oil individual holdings of liberty fours in ili excess of S idoo par value dividends tire not subject to normal tax but must be reported and included it in net iii and leg legacies neles tire ore not income and should not lie be included on the iho re tu turn rn of the beneficiary life insurance na as a hene bene flefil ry or its as premiums pill paid back n nl I 1 inaam ity or surrender of policy Is I 1 not i at In income conle payments rec recel elveI veil for real or personal property sold Is not income but the profit thereon Is income foi fat the lie year of anle amounts recel received veo in III payment of notes or mortgages Is iq not income hul but the interest on such notes or mort gages apes Is s taxable In income corne front from tilt entire gross friiss brimme certain allowances alloin nees tire made in arriving at the net income necessary expenses expense si actually anid in ili tile the or of trade or pro deslon anity tie ile claimed A farmer can claim payments for ichor spoil seed fertilizer feed re pairs nn nil buildings cel lilt hl dwelling repairs of fences and furin machinery materials and small tools for lini ate use ilse the amount of fit rent paid for or a farm may mn also he be claimed ns it a tenant farm till in ers jex czense penso payments for lle live stock are allow alln wit a hie ble it if houam loii it for res itle nut but it if bought for breeding purposes rattle cattle are nn nil in ili vestment not an all expense and cannot le he A storekeeper can claim amounts paid bald for foi dork clerk libre lele phone water light rod fuel also irray age and bills and cost of op prating lind repairing rIng wagons and trucks A can claim cost of hit professional supplies rent office kielp telephone expense of team or nu bile used in ili making professional mil und and expenses attending lit medical edical coo on vent mentions ions A dentist can claim similar items ex except capt team or auto expense which tire riot not necessary ceRry ne in ills his expense mat tire personal or ron can necked in tiny way with nt the support or well being lican of it a person or are not allowable the co cots costs of machines mants vehicles or 01 implements flint are more or less permanent tit id diameter character tire not allowable us as nil an expense open sc they are investments interest Int enst paid on a mortgage or other personal indebtedness Is alloi allowable vable on a personal person nl return all taxes paid bald within tile ho ye benr it r enn can b hf taken rii out on nn a fe federal leral return ex ept federal income taxes inheritance taxes unit assessments for local improvements prove ments losses sustained in business or through tire storm or shipwreck or by theft except when compensated by insurance or otherwise wear and tear fear of rented buildings or n used in ous loess sa may be claimed you cnn ann also chalm tho the amount paid to the red crots cros and to other choran ble rellious rel lIou or t lion ilan to the te extent of IS 15 per cent of your net income |
