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The Coconino sun. (Flagstaff, Ariz.) 1898-1978, March 20, 1914, Image 2

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn87062055/1914-03-20/ed-1/seq-2/

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PAGE TWO
THE, COCONINO SUN
FRIDAY, MARCH 20, 191
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7 Moire tH
econoimcai
J H
BoiHh in Use
and Cost
CALUMET
BAKING POWDER
And it does
better work. Sim
ply follow your cus
tomary method of pre
paration add a little
less of Calumet than
when using ordinary
baking powder. Then
watch the result.
Light, fluiTy, and even
ly raised the baking
comes from the oven
moretempting.tastier,
more wholesome.
Calumet insures the
baking of aw expert. Ask
jour grocer todn
Received
Highest
Awards
t Mww HI
5rG lT.r RJ l
R World' Pu-e WJtVyJlJji
4 Pari Expos!. IjL vUMK JvVbI
i tion. Franc, ljMl?SjlHr I
I Tm oWt tare money woen yon buy cbeap or bif -caa I
1 baking powder. Don't bt mi led. Bay Calumet. It's n
I more economical mora wtclewmt f i?ei best remit. X
I Cal timet U far lapenor o wor milk and aoda. I
2000 Rolls Nev 1914
Wall Paper
' has arrived, l
not on the
Road, but
here at
5c per roll
and up at
The Duality Shop
N. D. SWARTOUT
The Office
A Place for Gentlemen
HIGH GRADE GOODS
Blue Ribbon and Budweiser
Beer, Imported Pilspn, Ale
and Porter.
Old Smuggler Scotch Whiskey.
All leading brands of American
Whiskies, Wt-ics, Cigars, Etc.
Our Motto:
Best Class of Coods, Best Class of
Trade
RICKEL & BROOKS
PROPRIETORS
THE INCOME TAX AND .
WHATTO DO TO BE SAVED
Incomes Under $3,000 Not Affected by
Income Tax. Method of Comput
ing Net Income Explained
If a farmer is so fortunate as to
have a net income of over 3,000
a year in case he is a bachelor, or
$4,000 if married, he is subject to
the income tax, and under the law
each individual must make return
to the Internal Revenue collector
of his district on or before the first
day pf March if he has a net in
come of S3, 000 or over ($2,500 for
the ten months of 1913.) While
the interest of most farmers in this
subject is purely academic, the
Department of Agriculture has re
ceived inquiries indicating that
some wish to know just what is
reiuired of them under the new
law.
The income tax law of October
3 I9i3i places a tax of 1 per cent
upon all net incomes of over $3,000
with an additional tax on incomes
of $20,000 or more. The first
question arising in the minds of
most people is what constitutes a
net income. For a man receiving
a regular salary, or a business
man with a good system of book
keeping, it is easy to determine
whether or not his income is tax
able. But for the farmer who re
ceives na stated income, and who
often fails to keep accurate ac
count of receipts and expenditures,
it is more difficult to calculate his
net income.
In order that farmers may be
posted on the income tax as it
may concern them, the following
information has been furnished by
the Internal Revenue Bureau of
the Treasury Department:
In general, an income consists
of amounts derived from salaries,
wages, or compensation for per
sonal service, paid in any form;
also from professions, business,
sales dealings in property, or
from rents, interest on bonds or
mortgages, dividends on stocks,
or other income from'investments
These items constitute gross in
come, from which', there should be
deducted the expenses of carrying
on the business; interest paid on
indebtedness, worthless debts
charge off; losses by fire, storm,
of shipwreck, not covered by in
surance; exhaustion, wear and tear
of property, and any income upon
which the income tax has already
been deducted at the source, as,
for instance, dividends on the
stock of a corporation which has
already paid the tax on its earn
ings. The provisions regarding net
incomes of $3,000 apply only to
unmarried persons, or to married
persons not living with wife or
husband. A husband and wife
living together are entitled to an
exemption of $4,000 on their ag
gregate income. This means that
in case the wife has a separate
income, if this added to the hus
band's income amounts to $4,000
the total is subject to the tax; or,
if the wife has no separate income,
the husband's income is taxable
only in case it reaches -$4,000.
But a return must be made if thet
aggregate income of both is $2,500
for the year 1913. The joint ex
emption, however, would be $3,-
333.33.
In arriving at 'his net income
the farmer should start with his
gross income. This would con
sist of any items of the kind above
enumerated, and especially all
receipts from the sale of products
of every description from the farm.
This would include all money re
ceived from produce and animals
sold, and for the wool and hides
of animals slaughtered, if the wool
and hides are sold; but he may
deduct from these items the
amounts actually paid as purchase
money for the animals sold or
slaughtered during the year.
When the animals raised by the
owner are sold or slaughtered,
however, their value should not be
deducted.
From the gross income there
should be deducted amounts of
money actually paid as expenses
for operating ' the farm and pro
ducing the farm products, live
stock, etc. This would include
hired farm labor, farm supplies
purchased that are necessary to
carry on the business and not an
investment that represents prin
cipal, etc. Expenses for repairs
on farm property may be deducted,
provided the amount deducted
does hot exceed the amount spent
for such repairs during the year
for which the return is made. The
cost of replacing tools or ma
chinery may also be deducted to
the extent that the cost of the new
articles does not exceed the value
of the old. No deduction may be
made for the cost of additional
farm machinery, but credit may be
allowed for the annual deprecia
tion in the value of such ma
chinery. For example, if a ma
chine cost $100 and is regarded as
good for ten years of service, the
annual depreciation would be 10
per cent, and a deduction of $10
each year could be made on this
account, as part of the expense of
operating farm.
The expense of supporting the
family, however, can not be de
ducted from the gross income.
Among items for which credit is
not allowed are expense for med
cal attendance, life insurance, in
surance on dwelling, store ac
counts, family supplies, wage of
domestic servants, cost of board,
room or house rent lor family or
personal use. In case an individ
ual owns his residence he cannot
deduct the estimated value of his
rent. But a tenant operating a
rented farm as proprietor may
deduct the rent of the farm as a
part of the expense of his business.
Farmers arf not required to in
clude in their income the produce
taken from the farm and consumed
by the family. Only produce sold
off the farm is to be included. A
farmer is not entitled to a deduc
tion of his own labor, or for ex
pense of feeding live stock. He
may, however, deduct such items
as cost of fertilizer and other sup
plies and materials which are used
up in the course of his operations.
The law provides that for the
year 1913 the tax shall be com
puted only on the net income for
the ten,months from March 1st to
December 31st, and that returns
shall be made on the basis of five
sixths of the year. Therefore, if
the net income for the last ten
months of 1913 amounts to $2,500
or more a return on form 1040 is
required. For the ten months of
1013 every single person is allowed
$2,500 exemption and in the case
of husband and wife, living to
gether $3,333.33 exemption. In
computing the net income for this
period deductions should be made
for only five-sixths of the amounts
properly allowable for the whole
year. Returns for 191 3 must be
made by March 1st, 191s.
Blanks for making returns for
the income tax may be obtained
from the collectors of internal
revenue throughout the country,
or from the Bureau of Internal
Revenue of the Treasury Depart
ment at Washington, D. C. In
case of failure on the part of any
one who is subject to the tax to
file the return by the first of March,
the law fixes a penalty of 50 per
cent of the amount of the tax
assessed and $10 to'$i,ooo fine.
Uncase of false or fraudulent re
turn there is a penalty of 100 per
cent and $20 to $2,000 fine and
one year's imprisonment or both.
The Bureau of Internal Revenue
is preparing regulations which
may be obtained by interested
persons on application to collec
tor of Internal Revenue for the
applicant's district.
Big Exodus Between Acts
A Tennessee man is said to have
invented an odorless whiskey. Bad
news for the clove trade, what!
Plain Truth that's Worth Money
Using Foley's Honey and Tar for a
cough or cold may save you both sick
ness and money. F. F. Monahau, Me
nomonle, Wis., says: "I am exposed
to all kinds of. weather and I find Fo
ley's Honey and Tar Compound always
fixes me up in good shape when I
catch cold or have a bad cough. I re
commend it gladly." Refuse substi
tutes. Will Marlar Pharmacy. Advertisement.
AT THE COUNTY
RECORDERS OFFICE
. Revocation of appointment,
Peter Koch by Alliance Ins. Co.
Revocation of appointment, H.
P. Wilson by Springfield F. &
M. Co.
Revocation of appointment,
Lois A. Fenton to E. A. Miller.
Bill of sale, Ed Hadstate to D.
D. Smith et al.
Notice, of water appropriation,
Moqui Tank, William Babbitt.
Notice of water appropriation,
Red Horse Tank, William Bab
bitt. Notice of water" appropriation,
Automobile Tank William Babbitt.
Notice of water appropriation,
Wilcox Tank, William Babbitt.
Notice of water appropriation,
Mudersbach Tank Wm. Babbitt.
Notice of water "appropriation,
Lewis Tank, Wm.-Babbitt.
Warranty deed, Charles H.
Marshall to Bernice I. Marshall.
Warranty deed, Geo. H. Nettle
ton Home for AgedWomen to C.
T. Burris.
Warranty deed, Chas. T. Burris
to Edgar Hash.
Water location, Rudd Tank No.
1, Wm. Rudd jr.
Water location, Rudd Tank No.
2, Wm. Rudd jr.
Water location, Armstrong
Tank, Wm. Rudd jr.
Water location, Wagner Tank,
Wm. Babbitt.
Water location, Corbett Tank,
Wm. Babbitt.
Water location, Gleason Dam,
Wm. Babbitt.
Water location, Hart Wash and
Wild Bill Tank, Wm. Babbitt.
Warranty deed, Geo. Babbitt et
ux t6 Mrs. J. D. Tissaw.
Patent, United States of Amer
ica to Elijah Lay.
Bill of sale, J. B. Clark to J. L.
Lay.
Revocation of appointment, J.
R. Scanllin by Girard Fiie Ins.
Co.
Revocation of appointment, J.
?- A-" ' l ""i
THE TELEPHONE UNITED STATES
There are eight units of the Bell System in the United States
Each of these units operates in its own territory a separate company with its
own officers and employees, and its own problems to solve
Yet the switchboards, methods and equipment of each company are standard
and uniform
The service is universal
1 v
The association of these companies with the, American Telephone and;Televj '"
graph Company makes this possible
Your company, the largest in point of area, has an unusual condition to con-
front
It operates in 22 per cent of the total area of. the country, and yet
In this area there is only 3 per cent of the country's population and 3 per cent
of the total wealth
The Mountain
R. Scantlin by Security Ins. Co.
Revocation of appointment, J.
P. Wilson by Glen Falls Ins. Co.
Notice of water appropriation,
Smoot Lake, A. K. Hawkins.
Notice of water appropriation,
N. E. h S. E. i, Sec. 23, T. 28N,
R 5 E., E. G. Peterson.
Notice of water appropriation,
iTJnnamed Wash, 8 miles north
Willows, G. Peterson.
Affidavit of labor, Hockatiah,
Grand Canyon mining district, J.
Waltenberg.
Affidavit of labor, Iroquois,
Grand Canyon mining district, J.
Waltenberg.
Affidavit of labor, Cold Spring
Grand Canyon mining district, J.
Waltenberg.
Affidavit of labor, Foraker,
Grand Canyon mining district, J.
Waltenberg.
Affidavit of labor, Delmonde,
Grand Canyon mining district, J.
Waltenberg.
Revocation of appointment, C.
O. Robinson by Liverpool London
& Globe Co.
Amendment to Articles of In
corporation, Arizona Lumber &
Timber Co.
Chattel mortgage, George W.
Hart to O. L. Hart and Luther
Hart.
Chattel mortgage, George Kim
bro to Edwin Babbitt.
Realty mortgage, Gus Freuden
berger et ux to David Babbitt.
Homestead declaration by Julia
Metz.
Revocation of appointment, J.
P. Wilson by Sun Ins. Co.
Notice of location, oil claim,
Woodrow Wilson, White Mesa
mining district, W. N. Staley.
Notice of location, oil claim,
Hunt, White Mesa mining dis
trict, W. N. Staley.
Release of realty mortgage,
David Babbitt to Gus Freuden
berger. '
Release of realty mortgage,
David Babbitt to Josephine M.
Walton.
Satisfaction of mortgage, J. W.
Lee to M. C. Smith.
States Telephone &
"The Corporation Different"
Warranty deed, Annie Bruce
Smith to J. M. Holub.
Assignment of mortgage, Louisa
Alvara to J. M. Holub.
Revocation of appointment, J.
P. Wilson by Providence Wash.
Ins. Co.
Realty mortgage, George Byron
to Richard Edgar.
Warranty deed, Antonio Alvarez
et ux to Benigno Trujillo.
Warranty deed, Elijah Lay et
ux to E. M. Hart.
Chattel mortgage, H. A. Miller
to Marahsalltown Buggy Co.
Release of realty mortgage, T.
A. Riordan to L. E. Hart.
Warranty deed, Lois A. Fenton
to Andrew and Myrtle Miller.
Warranty deed, Frank E.
Brooks to Merritt Craig.
Bill of sale, Frank E .Brooks to
Merritt Craig.
Chattel mortgage, O. L. Eth
ridge to Edwin D. Babbitt.
Warranty deed, L. A. Cross et
ux to Ernest & Horace Wyatt.
. Mortgage, Ernest & Horace
Wyatt to L. A. Cross.
Satisfaction of mortgage, M: M.
Reade to Beutke Bros. L. & T.
Co.
Contract of sale, Nicolas Baca
to William Wakefield.
Bill of sale, Sliker & Metz to
Verkamp & Hennessy.
Warranty deed, Eugene A.
Sliker et ux to Verkamp & Hen
nessy. Don't forget the Saturday night
dance at the Majestic. tf
A pain in the side or back that
catches you when you straighten up
calls for a rubbing application of
BALLARD'S SNOW LINIMENT. It
relaxes the contracted muscles and
permits ordinary bodily motion with
out suffering or inconvenience. Price
25c, 50 and SI. 00 per bottle. Sold by
Babbitt Bros. Advertisement.
G. N. BATY
The Wall Paper and
Paint Man
PHONE
197
Telegraph Co.
iV
as
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