Indianapolis Times, Indianapolis, Marion County, 18 January 1949 — Page 5

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FUIEOSREEERI ESTRELLAS ONSET ISONS EE EOR LEE EISELE IEEE IL IEAEE OE REEEONRETOTL DETR OERE OORT IIIT ITIL IEEE TIE OO LORIE LOO ROOTROIE IOS BRINE EH EOOTO OOOO UE INTER LH EOIU IED IROE OOOO LE COOIOO ELON O RN OE LIER EIEIO TORO TTUOIN LORE OOOO NINO TROON LE IOOR OREO TORO EOEEEE EERO ROTOTOR PERO EOITNOT ERNESTO TL ETI ." { . ¥

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Fe Wisied on Security

Your Income Tax Primer Ey ; Article No.

ANY E

BUCHANAN f Vez QR, ‘GALL CREIK AY MERIDIAN ST.

Home Buyers . . . Before March

Ist!

Refinance Your Contract of Purchase at “FLETCHER AVENUE”

_THE INDIANAPOLIS TIMES -

would be acceptable to any In-jot John's honesty. ‘In that case {ternal Revenue auditor unless, outihe could require John to produce of past experience or for some|written proof for every deduc-| 8. Susp tion. Several recent Tax Court

2, 02

lwritten proof.

TAX COMPUTATION—-POR PERSONS NOT USING TAX TABLE ON PAGE ¢

\decisions have upheld auditors ‘who rejected small-taxpayer deductions fof which there was no

line 4 from

- El me ore $0 oe 1

Fr | re

of amount

ar ase

¥ Ba DRDO Ou dees “This is your Adjusted Gross Income. s. 6948.38 L Boer i deductions wre heamirnd above, enter cos the sania deducion of HL Wo noose § 1 i A roan, Seis sae She udand dnteeson o -o h 937 |02 MP impsaby Boater the difference here. This is your Net Income a hi S

J Sukigiy 3000 by aus menus of spemprions dai I bum 1, pup 1, Eater tocal bere.

: ns Swe bo Sed by OULY : maried maldog » separate | hi , hrm Tp ee lo mo lo le 3 5. ho, nce

phos 11 of te exces over $400.

conescsne

10. Use the tax rates shown ia

Svar $400 bus aoe ovat

who are filing jointly to take ad

ing as individuals—who cannot

sidered tomorrow, It is hard to see how this form

: inerest, Eater Ue Ee carpe law do Iannis). Bune she

could have been made any sim- ber fipler and still comply with the § [complicated law. Just take each } line by itself, do what it says, legal dependents.

20 figure your tenative tax 0a amouax shows ia line 9 (if isem 3, above, includes tax here

ms $68 pl 119 of he Gai $4

| n ut 0, coeer $2000 plus 0.73% of che excess over $100,000. cece } ABS amount ou line 12 by 2. Foser this tax here. + This is ‘combined sormal tax and

Here is the new computation|(for individual returns see warn- * ischedule for husbands and wives|/ing in tomorrow’s e).

[vantage of the income-spliting or use the tax table, explained in privilege. The three lines not the ninth article—whichever gives t |filled in are used by-petsons fil-/the smaller tax.

Multiply $600 Line 3, your net income, is Line

split income. Those. will be con- 1 minus Line 2.

Line 4 is for personal exemp-

tions. Multiply $600 by the numof personal exemptions) claimed in Item 1, including those for blindness and age and for

_ | whichever is greater,

own ded greater.

deductions, whichever. is

TO OBTAIN UP TO $1,000.00

MORTGAGE

EXEMPTION

ON YOUR REAL ESTATE TAXES

HAVE THE DEED IN YOUR NAME BEFORE MARCH 1ST

If you are buying your home on contract, and have

reduced it sufficiently .

. REFINANCE it at "Fletcher

Avenus.” Monthly payments may be less and—the

deed, then in your name, will entitle you to Mortgage

Exemption of $1,000 and a saving on real estate taxes “up to $40.00 5 year. Act NOW! The deed must be in + your name BEFORE MARCH Ist for Mortgage Ex-

emption,

COMPETITIVE INTEREST RATES

No Loan Commission Oharged—Prompt Action on Your Lean Appliostion

FLETCHER AVENUE SAVING AND LOAN ASSN

150 E'MARKETST, ~~

North Side of Market, Between Pynngylvanis and Delaware Sts.

[then go on to the next. Line 1 shows adjusted gross ini |come from Item 6, Page 1. | Line 2 shows either your item- must pay tax, |ized deductions. or 10% of Item 6,

(a) If your Item 6 is between $5000 and $10,000, inclusive, takes" Sere you divide the full 10% of Item 6, or your... .. uctions, whichever 1g brackets.

(b) If your Item 6 is more than $10,000, take $1000 or Jour own come which then will be cut by a

greater|,. od at lower left. -

would prepare his own return—

‘ |several hours to round the mon-

Line 5 is Line 4 minus Line 3. It is the amount on which you

(Lines 6, 7 and 8 you ignore on the joint return.) : Line 9 begins the income split« Line 5 by keep in. lower tax Line 10 is for figuring the Tentative Tax on half your joint in-

discount. Use the table repro-

Line 11 is for figuring the dis{count on your Tentative Tax.

This is greater on small incomes| they > Jalgy Suet, 46 §t 18 Gund -¥

on Line 9 and have computed the

than last year's

tive space must be provided.

~virtually all earned by the hus band—would cost out ~ this somewhat

while. Tomorrow: “The Bachelor Computation. Fa

2D It your Tentative Tax, nea 10, is not more than $400, you can ! e 17% off it. In that case, for everything shown on Line 10 take 17% for Line 11. (2) If your Tentative Tax,

get a 17% discount on the first $400 plus 12% discount on the next - $99,600 of tentative tax. Assuming that nobody with a tentative tax as great as $100,000

Subtract $400 from. your Ten{ative Tax, Multiply the remainder by 12%. To this product

[Line 10, is more than $400, yout ——

add $68. Their sum is your discount. Enter it in the right-hand column of the Computation Schedule. Subtract Discount Line 12 is where you subtract this discount from the Tentative Tax-—Line 10 minus Line 11-—to get your ‘actual net tax on | OfinbunBronchial your joint income. Line 13 is where you Apuliigly the amount on Line 12 by two, to get the net tax on your entire husband-wife joint income. (Remember, you split yolk income

300 . Monkeys Break

Loose in Plane . NEW YORK, Jan. 18 (UP)— Pilot Miguel Braganch sald today

a barrelful of monkeys—a planeful of monkeys,

he knew what was less fun than| works

tax on only half of it up to now.) This form is more complicated Computation | Schedule because of the incomesplitting privilege, and because that privilege is not available to single persons, for whom alterna-

The divide - and - multiply method is the only way you can get this benefit. . A husband-wife return on $10,000 of net income, after deductions and. exemptions

$2640 tax withinvolved process. By splitting, the tax is Sut down to $2200. So it is worth |

Men, Women! Old?

35,4 oi Hook's Sod Hang Stores

While flying. a cargo plane loaded with 300 Rhesus monkeys from Calcutta, India, en route to Warm Springs, Ga., Mr. Braganca said the primates picked the lock on their cages and made merry in the baggage compartment. ' When the plane arrived at La Guardia Field it took attendants

keys up and put them back in their cages.

Gl Dies in Jeep SENDAI Japan, Jan. 18 (UP) —Army headquarters announced) * today that Pvt, James W, Welch of Edin, Ala, was killed whep a jeep he was driving plunged down

When disorder of kidney funetion mous matter to remain in your blood, may cause ng backache, rheumatic pains, leg pains, of pep energy, ting up ry ewelling, pu ulin under the eyes, hes and 4 1 or painful Ioan EE etines there is something wrong with your kidneys

or bladder. Don't waitl Ask your druggist for Dean's lls, a stimulant diuretic, used successfully millions for over 50 years. Doan’s give

a 150-foot slope,

ha relief and will help the 15 miles of Kidney tubes flush out t polsenous waste from sour Wore Gi Bye’

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