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Income Tax In A WHO? Single persons who had net income of $1,000 or more rr gross income of $5,000 or more, and married couples who had net income of $2,500 or moreorgross income of $5,000 or more must file returns. WHEN? The filing period is from January 1 to March 15, 1925. WHERE? Collector of internal rev¬ enue for the district in which the person lives or has his prin¬ cipal place of business. HOW? Instructions on Form 1040A and Form 1040; also the law and regulations. WHAT? Two per cent normal t; \ on the first $4,000 of net income in excess of the personal exemp¬ tions and credits. Four per cent normal .tax on the next $4,000. Six per cent normal tax on the balance of net incor Surtax on net income in cess of $ 10 , 000 . Your income tax for the year 1924 is less, in proportion to your income, than was the tax for 1923. A rate re¬ duction, however, is not the only ben¬ efit afforded by the revenue act of 1924. Increase in the exemption for married persons, a 25 per cent re¬ duction on “earned income," and oili¬ er changes in revenue legislation are of immediate interest to every tax- 1 aver. The revenue act of 1924 requires that returns be filed by every single person whose net income for 1924 was $1,000 or more, or whose gross income was $5,000 or more, and by every married couple whose aggre¬ gate net income was $2,500 or more, ( r whose aggregate gross income was $5,000 or more. Last year returns were required of couples whose ag¬ gregate net income was $2,000 or more. Husband and wife, living to¬ gether, may inc'ude the income of each in a single joint return, or each may file a separate return showing the income of each. Net income is gross income less certain specified i eductions for business expenses, losses, bad debts, contributions, etc. The period for filing returns is from January 1 to March 15, 1925. The return, accompanied by at least one-fourth of the amount of tax due, must be filed with the collector of internal revenue for the district in which the taxpayer has his legal resi¬ dence or has his principal place of business. Tile exemptions under the revenue act of 1924 are $1,000 for single persons and $2,500 for married per¬ sons living together, and heads of families. In addition a $400 credic s allowed for each person depen¬ dent upon and receiving his chief support from the taxpayer, if such person is under 18 years of age or ncapable of self-support because mentally or physically defective. The normal tax rate under the rev¬ enue act of 1924 is 2 per cent on the first $4,000 of net income in excess of the personal exemptions, credit for dependents, etc., 4 per cent on the next $4,000, and 6 per cent on the balance. Under the preceding act the normal tax rate was 4 per cent on the first $4,000 of net income above the exemptions and credits, and 8 per cent on the remaining net in¬ come. The revenue act of 1924 contains a special provision for reduced taxes which did not appear in previous laws. All net income up to $5,000 is con¬ sidered “earned income, tf On This amount the taxpayer is entitled to a credit of 25 per cent of the amount cf the tax. For example, a taxpayer, single and without dependents, may have re ceived in 1924 a salary of $2,000 and >m a real estate transaction a prof¬ it Of $3,000. His total net income was i$5o00. Without the benefit of the 25 per cent reduction his tax would be $80. His actual tax is $60. From his net income of $5,000 he is allow¬ ed a personal exemption of $1,000, the tax of 2 per cent on the first $4,000 in $80, one-fourth of which, or $20, may be deducted. „ For the purpose of „ computing this ... credit, the earned , net , . in no case is in considered to be excess of - come in $10,000. ... ... A . taxpayer , have re may ceived , for , the .. 1924 , ... net i • year a income from salary $29,000, ... but , . the ,, 2a ... per cent credit be applied - t . only , ran < one-half of this amount. , If you are single and suppirt in your home one or more persons close. ly related to you and over whom you exercise family i ontrol, vou are the head of a fam and entitled under the revenue act of 1924 to the same personal exemption allowed a mar person, $2,500. In addition, a taxpayer is entitled to a credit of $400 for each person dependent upon him for chief support, if such per¬ son is either under 18 years of age or incapable of ' self-support because THE LEADER-TRIBUNE, FORT VALLEY, GA., THURSDAY, JANUARY 15, 1925. OFFICIAL Fort of Valley the ORGAN THE KIWAINIS KALL and Get bull Value Kiwanis Club Published Weekly Thursday by the Kiwanis Club of Fort Valley, Ga. for Your Money on Vol. 1 THURSDAY, JANUARY IS, 1925. Number 20. BBCTEEHSBEr Here’s the beverage that delights Tlw Fori Valley Oil Co, taste, satisfies thirst and refreshes. Every bottle is sterilized—insur- m Cl Manufacturers of ing absolute purity- mas*? a*5s COTTON SEED PRODUCTS Fort Valley ms Bottling Go. r FORT VALLEY, GA. i I>. C. STROTHEH A* K. M. WIIITING, KIWANIANS i W. G. ltRlSKNDlNK, KIWAMAN i M There’s Music in the Air J. W. Wool folk W. L. Snow llalpti Newton % Bring free entertainment into your home with J. W. Wool folk & Co. a Radio Receiving Set. See the Radiola line we arc showing. Spray Material, Peas & Peaches GREEN-M11.1 .ER COM PANT r ULKNMOHli GRHKN. KIWANIAN Fort Valley, Georgia EVANS CLARK CO. Inc. ty With facing Fort the Valley greatest and and Peach most Coun¬ im¬ Georgia Agricultural Works portant constructive problems QUALITY SERVICE Dealers in Peas, Potatoes, Hay, and their history, in the re-organization other Farm Products. of the ir affairs on the basis of a new HARDWARE & FURNITURE political unitj and with a broader vi¬ "We’ve Got It A. J. Evans E. G. Clark sion and unprecedented opportuni¬ F. O. MILLER, Kiwanian ties, every Kiwanian naturally must Kiwanian Kiwanian take the business of the Club with in¬ tense seriousness and apply himself For GALLAHER HALE GRSCERY CO. constantly to the progressive j SPRAY MATERIALS program to which we are pledged in our mot¬ SPRAY MACHINES Distributors Purina Feeds to— H PARACIDE ft < ( Feed from the Checkerboard Ba£ I * Call on WHOLESALE GROCERS We Build 99 SOUTHERN BROKERAGE COMPANY F. W. Withoft, Mgr. R. D. HALE, KIWANIAN Kiwanian Attend meetings every week. That i means especially this week—tomor¬ F. O. MILLER, FORI CHILDREN’S Pres. T. VALLEY Manufacturers F. FLOURNOY, KIWANIANS A. J. KNITTING UNDERWEAR EVANS, Supt. of Treas. MILLS & Gen’l Mgr. ourselves o’clock. row—FRIDAY, the community measure We to institutions shall the that task promptly derive we of 1925 and contribute benefits at affairs progress. twelve from of in C e THE HALL KIWANIAN TIRE MAN l ‘ mentally or physically defective. Such dependent need not be a member of the taxpayer’s household For ex¬ ample, an unmarried son who sup¬ ports in his home an aged mother is entitled to an exemption of $2,500 plus the $400 credit for a dependent, a total of $2,900. If from choice the mother lived in another city, the son, although her chief support, would be entitled only to the $1,000 exemption, plus the $400 credit. The mother not living with him, he is not considered the head of a family. An exemption as the head of a family can be claimed ty only one number cf a household, The $400 credit does not apply to the wife or husband of a taxpayer though one may be totally dependent upon the other. The revenue act of 1924 provides that the status of a taxpayer relative the amount of his personal exernp tions shall be determined by ap portionment in accordance with the number of months the taxpayer was single, married, or the head of a family. Under the preceding act the amount of the exemption to which the taxpayer was entitled was determined by his status as a single person, a married person, or the head of a fam¬ ily on the last day of the taxable year, December 31, if the return was made on the calendar year basis, as most are. For example 1 a taxpayer 1 married on September ; 30, 1924 r r would he en titled to exemption .. of . $1,375. For an * the , first , nine . months , , he is . classified , , single . , entitling him . to as a man an exemption .. of . $750—three-fourths .... .. . ., of . ' v the $1,000 exemption allowed single . ’ a and for the last 3 months he . person is entitled .... , to , of - .... $625— an exemption one . fourth of t he $2,500 exemption allowed a married p/erson. Ff on June 30, a taxpayer ceased being the head of a family—the sup port in one household of a relative or relatives being discontinued—he is a! i owed an exemption of $1,750 one-half of the exemption of $1,000 granted a single person plus one-half the exemption of $2,500 granted the head of a family. With regard to Formula of Success for al, Community or state is ten by international authority Georgia must establish a definite objective and plan one by one the steps necessary to accomplish that jective if she is to take her rightful place in the industrial life of the tion, according to Dr. Harrington Emerson, member of the Fedral mission on Waste and tion and an international on efficiency. “States are composed of human be ings,” he said in an interview. state derives its wealth, health success from these human beings. state is dependent on its not the citizens on the state. It will be just as successful as citizens successful and no more. Let us ine into the things that make for successful person and we will find that the same principles are cable to the state. “Before any man can go forward in the business of living he must first establish or set up a definite objec¬ tive. This is obvious. How can a per¬ son arrive at a point unless he knows where he is going? A ship headed fo no particular port is extremely for tunate if it reaches any. So it is with a state or a community. “Once the objective is set up, all necdssary records bearing on the ob¬ jective must be tabulated. By this I mean a complete analysis. Records must be accurate, facts not guess¬ work, truthful not fanciful. They must be adequate, complete. They must be adaptable, simple and imme¬ diately available. Once the analysis is complete one can proceed to plan, schedule his plans and set about put the $400 credit for a dependent, the taxpayer's status is determined as of the last day of the taxable year. If, during the year, his support of ,«uch dependent ceased, he is not en titled to this credit. (Continued next week.) ting them into effect, “Let us consider a community in the light of these simple principles and we will get the picture. We will that the town of Homeburg i has decided to expand, that it is to the town’s interest to have an influx of new people; that is would be de J sirable to bring some factories and other industries into the town. They set up an objective something like thi: “ ‘To increase the population of Homeburg 10 per cent within one year from date.’ The next step as has been shown * s f° make an analysis of the town, j equipment, wit h reference keeping to men, material in mind and the ever objective set up. “What is the area of your town? What is property worth—actually worth? How much of it is idle? What i; the soil best suited for? How do you know? Have you had the soil anal¬ yzed recently? How much farm land is there? What is being grown? How about livestock? Chickens? Butter j and Do y <)U im P ort P roduce or export it? Any timber land? How much? What kind? What used for? “How much freight do you ship a year? What classification? Raw mate¬ rial or finished product? “How about transportation ? Are you on the main line? “Minerals? What have you? What can they be used for? Being develop¬ ed? “Sanitation? Pure water? Plenty of it? Has it been analyzed? When? Death rate? Any contagious diseases prevalent? Mosquitoes? Sewerage? “Climate? Altitude? Damp? How much rain? Healthful? Flooded lands? “Electricity? Single plant or con¬ nected to adequate system? Munici¬ pal or private ownership? Adequate street lighting? Ample power for in coming industry? ‘Roads and streets? “Taxation? Any exemption for in¬ coming industry? Bonded indebted ness? “Homes? Well kept? Owned or rented by tenants? “Schools? Attendance? Sufficient teachers? Well paid? Competent? “Churches? Libraries? “Labor? White or black? Skilled or unskilled? Population? White or black? Per¬ centage of illiterates? Schools for illiterates? “Fire protection? Insurance rate low? “Laws? Fair to all? Do they penal ize the investor? “People? Sociable? Will they wel¬ come newcomers? Provincial? Fuii minded? Intolerant? What pursuits followed? Manufacturers? Transport¬ ers? Storers? Traders? Professionals? Domestic service and manual work er.s? Ethical workers? “Banks? Bank clearings? People investing locally or sending money away? Stores? Adequate? << Amusements? Theater? Outdoor sports? Sunday amusement? Newspaper? “Those and hundreds of other fuestions should be asked in making the analysis of the town. When ‘he facts are secured—actual, honest facts—the needs of the community 1 ecome apparent and the defects can be remeJ'i d. “The next step then is to make plans to accomplish the desired ob .icctive. It is easy now for you know from your analysis just where you stand. Plans should be made to begirt the correction of the town evils. U remedy its defects. The analysis has 1 hown the true conditions; honest remedial action will work the improv¬ ident. “Has Homeburg all the facilitiesfor taking care of a cotton mill? Then plans should he made to" interest the mill under less fa¬ | cotton operating vorable auspices. “Does the analysis show that Home-; burg has valuable mineral deposits awaiting capital for development? j Then plans should be made to seek j ut the capitalist interested in min- 1 ( era] development. “And so on and on. These are merely suggestions, “But the records, plans and sched¬ ules will be worth little if they re¬ main as records, plans and shedules. They must be used; put into effect. And fifty one per cent of the task has been accomplished when you know what you want and see clearly SAVE 25* OF YOUR FEED BILL BY GRINDING YOUR EAR CORN [Shuck, Cob and Corn] AND VELVET BEANS. OUR PRICES ARE RIGHT THE VALLEY MILLING COMPANY FORT VALLEY, GA. UWiMW 'W J 1 ' Stop at The l\ ROBERT Atlanta's Finest FULTQN Hotel 300 ROOMS—300 BATHS Circulating Ice Water Servidore Service In Each Room m ml* *&:: Equipped tpring M«ttre»»e»—the with the Shur-Re«t world. moit Inner- com¬ s fortable bedt in !! itsk ‘5 Convenient Downtown Location Rooms $2.00—$2.50 $3.00 Other Hotel* operated by Baron & Wilton Interest: MECKLENBURG HOTEL Charlotte. N. C, HILLMAN HOTEL Birmingham, Ala EXCHANGE HOTEL Montgomery. Ala. Auguata, Ga. * Luckie and Cone Sts. terminal HOTEL T; 1 HARRY F. ZOBEL Mgr. r; —one by one—the steps necessary to get what you want. “flomeburg or Georgia, or any in¬ dividual person must deal in funda¬ mentals in order to succeed. Underly¬ ing all civilization are certain funda¬ mental laws that if followed make for happiness and success.” -The Week.