.is the second of.“ ”o“
_ (u) how so prepare incorns
mrn-. that “1" mt may.
ih(\(‘ mlumns Mr. SIMM' II
nun .11‘ th? Committee ol‘ I":
"am. of the Comm. of
am Business Men. aegis s
110“" to! expert end has writ-
,unumus articles on (exotica.
1am m “ii answer all questions
H Lulxji‘it dll‘t‘Cfl‘d to him by
“um-.3 Such questions should
(mood to this nublication. ed-
-d in [he T2! EdNDP. To f3.
ammlon all communication
. b0 «xgn/d by the writer. his.
gn' .- amour. however. when
hp. l “ill not reveal the identity
, inuuil‘fl‘.
:r: s .ious article there was
.11.: class of persons sub-
9 income tax law. It wsjs though two distinct individuals.”
.iéd out. that all persons Nigel-day“ one for the pnm” 0:
under the law, do not' determining whether I. return must-
E..1\'e to file returns. but be i‘lled.
than:- 85.000; hit: man... change.
the law that prevailed when ms
return! were tiled. Under the law;
a return had to be made “it the” net
incoihe of a married individual was
{3.000 or over.,The diner-once iii the
have is accounted :tor by the clients
3.3.3.3.?P’é‘1i‘: ”M“ “Tm"m
in attic :1 nuclei?“ be exp‘
here is another thctor to co -
or about the returns of. marriage:-
sons. The husband and wits have
the right to aloneiiber separate re-
turns in which their incomes
combined. When it is advisable to
his a joint return. and when separ-
ate returns will be made the subject
at particular discussion: at a later
time.
In other words. it the com-
1"111111‘ement8 as 'to' tiling
n covered in a distinct l'et
71's the explanation of
not will form the basis
- -.:< me individual is con-
i z' » uquirements are based
a:a oi his income. In the
(Very individual that has
»-:»mo of_ $5.000 or‘ over
:7 =. r-.‘.urn. It should be
. 11m requirement is a
, _- lllCome. not net income.
.y :. :nnt an individual hasAno
bined gross income of the husband
and wife is $5. 000 a. joint or separate
return must be filed. The same re-
suit is true where their combined
net income is $2.» 5.90 or over.
This covers the law so tar as the
returns or individuals are concerned.
NOW. 3as to the; other taxpayers. Al-
though partnerships. as such. are
not subject to tax because they are
not regarded as an entity distinct’
from the partners who ms’ke up the
partnership. e’wry partnership is
’4 that ere. exciting;
institutions. etc )_
turn. regardless 61..
either the m or
In other we all. "
are subject the
need not in tact m. any tax.
Estates and trusts are pres-riled
someWhat as 9 individuals end
must tile. is return-i1 their use in-
come is $5. 000 or; over. or their net
income $1.000 or over. . ,_ -
In addition to these; returns there
may be other. supplementay re-
turns. sometimes called information
returns. that have. to bu flied For
inwce, employers are required to
tile returns showing all the emplby-
The requinetuents
ante these. however. may best be
considered at another time- '
In the next article thsLsubject '0!
credits and exemptions willy. be con-
sidered. and also the! requirements
as to the place and the time tor fil-
ing returns.
. Questions and Answers. . .
m‘b About one year ago two or
rail: -who were in the sheep
business to force to sell and did
not realize sufllcient to hunt their
obligations. I had loaned them
about 82. 000 to try and tide them
over. I have not. aid will not re-
ceive anything on. this 'losn. Please
advise me whether or not this is
income .
must die s. return. even though they
However. it is pertinent here~ es to whom they. paid 81‘. 000 or over ’
to note that the husband and withssdurios the year.
1:." -. It may be that amin-
' as no net lncome.’.or on
hand. has actually eusg
1 loss. Yet it his gross
15,000 or over. he must
5...... :ncome is meant the to-
:o' - 511-111 salaries. professmns.
. rilrresi. rent, dividends.
. considering the deduc-
Nay-"1 by law, The gross
A, . :1 business is determin-
_\ mm; from the sales. the
0‘ :I‘lm‘ls sold. glVlllS the
u . The point to be borne
tint u is,not the sale;
“1116 gross income from a
.1 rather the amount or.
vmn or gross income will
W. more detail in a subse-
: : What should be here
«hr-n: us that all individuals
’52: gross income of $5.000
:2 {.1131 ilie a return.
. .. 1:1- ‘5 also laid down that. ir-
(“.114 at 11-19 amount of the
.- -"’:'v, if the net income of a
r 1‘: is $1.000 or over. he
2» - rvhlrn. No mention is
> any age limitation so
“.1 is required to file a.
has a net income of his
1"! or over. or a gross
mm or over. \Vhere the
"Me. to make his own
.. be filed by his guar-
other person charged
,. 1 For practical pure
. 1' .:\ therefore be said that
{mm 1. ust file the return for
r. r r;.:. :1 “ho is unable to file
1‘ H I}
is r .1 mtln. in this connec-~
rr 1 :eHu-ns are not required
uninss they have income
-:~. account from their
. CV. The earnings from
f .. I‘hlld bolow statutory
literally belongs to the
must be reported in
wrurns. unless the min-
. what is technically
‘lln‘llml. Thls. 100. W!"
(“Strllssed in a. subse-
.' ll.le'i‘lC'] mail is con-
: has not income is $2.500
r 7.» must file a. return. even
They Aren’t So Happy Now
' “Bill" hurt, famed wagon man «lithe movie, sud .lliswlfs.
Winifred \Vestover, orb not so happy as this 11”.an
ing a marital battle in s has Angela court. bits. Hut is en
desvoring to cancel s clause in her legal separation contract .tlisl
forbids her from playing in the movies. She is now receiving lb!
é! cross
ins-moo trons $208,000 trust III!» ’
income is less ‘
S P E. C I AWL, _ . ‘1
TOMOIROW 0.1L --~.
BED ReeM SUITES ' ,f‘
M 2: less than/ cost to be sure. But they’ V9 sieved with us long: enough.
Jim: to move them quick. True they;;sre marred a little. called too.-
But seed suites Just the suns. And cheep. Here they are. ,
ONLY aim .
1 One four piece suite (new?
ette full vanity. Regular 1')le tuition. a... .. .. ..
Z'One (our piece suite '(Arqerican Walnut) Dreder.
Dressing table. Regular pricei “35.00.. . ... .
W' m
8 One four piece suite (Br'owh
One Half Prlce
l
’_stei
Milton Sills: its: Allison and Doris
Kenhn use “the asteroid three in
"I Want My “All "
x
' dent. one” “that toth
mm 6t Walter-”II. ’
- m
WJm 5.’
James Glynn to suc- BR
coed Bost‘insster L. Shes whose term
DeForest cnallfled
for the appointment in an examine?
nonbeldbythogfavumnicecom-
missio. nlest Ilsa-eh. As soon es De—
thrust is confirmed he will have s
12:1; gear appointment at 82.800 sn-
' Whamfl While downwi- rector
‘. ganglion test was proceeded to 1r!“-
_ shite Ms W 0” fl"
" art launch ll l m”
mum. in. dress W» l?- 3'
Jude's. JO 1"- I!
| 0.8 AW
s'ou Bronson.
Reeves. Attorney hands?
my! Winn“.
1- “an, heat refined to antic-u: his mm
* .thtt "I5:
m.|lsilod
death
of wit/usury and Ni
":2“ o! Juds- m
at New flown.’
son and AW
st Derby. In “clues in the judiciary ss-
eeis mm by the the"?
”race; luvs
Thu bearers will be 3m
my:
WW
and Attorney William w. norms-Lu
lite-loll
W were will be
Judas Frank 0. mines of Kidd!“
town, sun‘s Attorney A. A. Allin:
or as. within-
11‘
Wu: 3.
palette
. we. gain”. within me com
xii” M Justices John E. Keel
or and John K.” Busch Will mob
age at .79: wand during the pres-
ting“ of thin fishers; Assernh y.
“m! mu m in .uomins-
for theirsuccesson. - -
alou-
unx 9,»... *9 “'1‘”
“Badge John P. Kellen
e court. who M
6.,- night, WA“ be ‘16!“
'1‘ ’s Episcopli church wt - - “ ~~~~
‘ afternoon. There . .
‘ was nor lion-"I'-
'.°° or the church
go, both. the
rm Initials "mu site AN 0 SON
Kellogg’s funeral my, and
mean of Lem trill. \
for thiis morninahhs's been
noun Ian’s tomorrow. . ,
, . Ms: ill Pension
The probsbl elevation at Judge
We to the supreme court will
crested vacancy“ the Superior the .
court to which Governor. John 1:. 2': M30}
Trumbull insy no Frederic wii
II. Pessley of Chesfiirewzeording to only the
some reports in Usdntinis’trsdon cliff reedvby 3;.
EPORT.an..19.—-Judse ‘
Wii M. Hslthie. of Hartford;
now presiding at the trial in Crimin-
al Superior court here or meob M
navy at West rt. who is cherry
withlilessi’ nation of. lmer.‘ is
considered to be' one-of'th's most
likely at Superior court Jurist; tor
, immediate appointment to the beach
of the Supreme Court of Err-55's. (oi-
lewu‘ls the death of Justice John P.
Kellogg of Waterbury.
,5. . . Judge Malibu is senior Judge of
HHS. LANDBMAN
The Romeo! Flue
Furniture & Low Prices
in
Y.
England the Industries' in
2' . .. . - '
'7‘
Al
|
The future economic welfare of Connecticut depends largely upon the .relations be—
tween the industries of our State and the New Haven Railroad. Recognition of their mutual
lnterdependence' is one of the encouraging signs of the time.
To keep its pro-eminence in manufacturing, Connecticut industry must continue to
grow. But it cannot grow unless there is proportionate growth in the transportation facili-
ties by which its raw materials are brought in and its finished products carried to market.
» Connecticut Industry must have tranSpo‘rtation Mile that keeps pace with that
available to its competitors.» It will mot enjoy such service unless the New Haven Rain-cad
is in position to spend money for continual bétterm‘ents in its facilities.
The New Haven Railroad tenet have at hand on April next the sum of $23 £00,000 for
refinancing the maturity of its so-called French lean, due and payable on that date. Many
months ago the Directors of the N cw Haven Railroad and the Directors of the Manufactur-
ers’ Association of Connecticut began to consider together how this obligation might be met
Without so straining the company’s cash: resources as to interfere With expenditures needed
for improving its transportation facilities
Their deliburations, in which representatives of Industry at Massachusetts and Rhode
Island also participated, resulted 1n the decision by the Railroad Company to issue $23,000,-
000 worth of six per cent. re-finsncing. bonds, and the decision by Industry to support the
loan by subscribing to the bonds.
For manufacturers thus to support sucha bond' issue is something new in railroad fi-
nance. It means that there will be no discount or commission's on a single bond subscribed
" for; that for each $1,000 bond issued the New Haven Railroad will get exactly $1, 000. The
money ordinarily paid out in underwriting charges will :11 this instance be applied by the . ’.
management to improvements and betterments for the purpose of making and keeping the
property adequate for the transportation requirements of Industry.
. It means that Connecticut manufacturers are wanting themselves against inability
on the part of the New. Haven to better its service to the industries of this State. It means
that the foundation has been laid fer closer and more reciprocal relations between Transpor-
tafion and Industry at their further developin eat, and that ii the same faith in itself that
it has had' m the past, New England will until one to provi or its own. ’
' 4 The banking houses Of New York and Mn and the territory between, have mani-
fested their approval of the refinancing plan and the. secuflty oifered by taking large blacks
0f the new handset par without any underwriting bommission or allowance. Members of the
Maniifiucturers’ Association of Connewcut have already subscribed nearly $1,000,000. '
It' 18 indeed gratifying that in a matter of such vi ;;hsportance to all southern New
. ' t, Musselmsetts and Rhode Island have found it pos-
dbleteco-operatewithoneanothf ‘ - .. '
Webekvethatsuchcouoperafionf " ,
hearty support of every citizen, every business firm and every financial institution in this
mm- ' ’ ‘ , , .. 4
.n
Norwalk Chronicler