Newspapers / The Pilot (Southern Pines, … / Jan. 6, 1922, edition 1 / Page 2
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INCOME TAX The following statement is issued by Collector of Internal Revenue, Gil liam Grissom, for tne District of North Carolina: The Revenue Act of 1921 contains two new and important provisions, which are the subject of frequent in quiry. The first relates to the person al exemptions allowed married per sons, and the second to the provisions requiring that a return be made of gross income of $5,000 or more. The act provides that a married person, living with husband or wife, whose net income for 1921 was $5,000 or less shall be allowed a personal exemption of $2,500. If the net in come of such person was over $5,000 the exemption is $2,000. Under the Revenue Act of 1918 the personal ex emption allowed a married person was $2,009, regardless of the amount of net income. The normal tax rate remains unchanged, 4 per cent on the first $4,000 of net income above the exemptions and 8 per cent on the re maining net income. In order that an income slightly in excess of $5,000 shall not be sub jected to an inordinately dispropor tionate tax because of the reduction of the exemption to $2,000 thereon, the law provides that such reduction shall not operate to increase the tax, which would be payable if the ex emption were $2,500, by* more than the amount of the net income in ex cess of $5,000. For example, on a net income of $5,010, the tax, without this saving clause, would be $120.40, which is 4 per cent on $3,010, the amount of net income less an exemption of $2,000. The actual tax is $110.40, computed as follows: from the net income of $5,010 is deducted $2,500, leaving $2,510, the 4 per cent tax on which amounts to $100.40. To this is added $10, “the amount of net income in excess of $5,000.” The personal exemptions allowed married persons, apply also to the head of a family, a person who sup ports in one household one or more relatives by blood, marriage or adop tion. Heretofore, a person whose net in come was less than his exemption ($1,000, if single, or $2,000 if married) was not required to file a return. Un der the Revenue Act of 1921, if the gross income of an individual equalled or exceeded $5,000, or if the combined gross income of a married couple and that of dependent minor children equalled or exceeded $5,000, a return must be filed, regardless of the amount of net income. “Net income” is gross income, less certain deductions. The fact that al lowable deductions from gross income, for business expenses, losses, bad debts, etc., may reduce i;he net in come to an amount below the personal exemptions of $1,000 or $2,000, does not alter the requirement to file a return of gross income, if such gross incomo equalled or exceeded $5,000. SOME GOOD ADVICE John H. Patterson, 77 years old, head of the great National Cash Reg ister plant, said at his birthday cele bration a few weeks ago: “Keep young by associating with young things. The newspapers are the youngest—born every day—or at lea^t once a week.” Y(|UQcan*t ignore that truth, and r -^rou ,.can’t deny that the newspaper is the greatest means of education in any community. Try to conceive a community like Vass going for months or even a week, without a newspaper. The whole world might be in flames, great inventions might be born or wars started. Yet if there were no newspapers there would be no means of carrying such intelligence to the family circle. The newspaper is always a bargain, no matter what price you are asked to pay for it. Fortunately the cost is small, only a penny or two. And no man living has yet found anything for the same money that renders as great service or gives as great bene fit. DISARM By Helen Mar D’Auby (Tune, The Marseillaise) America, wake to action! Hark, hark, what millions bid you rise; Our children, mothers and Old Glory Call us to lead, lead on; time flies. 0, can we basely halt and falter, While brothers, reared in homes of love And trust, and faith in God above, Are forced to stain their souls in slalighter ? Disarm, disarm, we call! Let murderous wars decrease; Disarm! all hearts resolved . On peace, on peace, world peace! Now, now, a world-wide storm is sweeping Through earth, and air, and sea and sky. The monsters of mad wars are build ing; What can we hope for, by and by But world-wide hate, and desolation? Forgotten earthly human love, Forgotten e'en our God above. Americans, ours is the nation! Disarm! disarm! we call; Let murderous wars decrease; Disarm! all hearts resolved On peace, on peace, world peace! Big brothers be to smaller nations O! broad land, and rich in gold! Call to the poor, in humble stations The message Christ came to unfold, Hark to the voices of our heroes. Their spirit tones sound from afar Like music from a heavenly chorus. Over there, asleep, but calling. Disarm! disarm! they call! Let murderous wars decrease, Disarm! all hearts resolved On peace, on peace, world peace! S. B. BARTLETT INVENTS A FUR NACE FOR CURING TOBACCO Mr. S. B. Bartlett has invented a tobacco furnace which is rather a novelty. The construction is similiar to the ordinary one furnace, but in addition.it has four hot air chambers they being underneath, above and on both sides. They are about 4” x 6” and open on outside of barn which acts as an intake and it expells the hot air on the inside at back of barn, and each corner. Mr. Bartlett says that he has clear ly demonstrated this constructed fur nace and he gives the following reasons why it is superior to any thing of its kind: 1, saves wood; 2, partial elimination of fire-risk; 3, possibility of sweats being eliminated by circulating hot air being free from moisture. Weather conditions have little in- fliienee oti the regularity of tempera-' ture and this being the case' that alon^ would mean lots to farmers when they are curing tobacco during stormy weather. He has kept close account with this in comparison with the old type furnace in a barn close by. It will save one cord of wood for every three thousand pounds of tobacco and this alone would mean that there would be a saving of at least $2,000, 000 worth of wood annually in North Carolina if we figured our wood at only $2.00 per cord. The cost of installing the out^t would probably be $10.00. HARRY R. IHRIE Lawyer CARTHAGE. N. C. Southern Pines Office Over S. & L. Grocery Windham^s Real Estate OflSce. EYES EXAMINED ..Headaches Relieved Caused.. From Eyestrain. Dr. Julius Shaffer of Fayetteville, Specialist in Op tometry, Graduate Philadelphia Col lege and registered in the state, will be at the HOTEL. VASS Monday, January 9th. and in CARTHAGE at the Tyson Hotel on Tuesday Jan. 10th. for the purpose of examining the many errors the eyes are subject to, and fitting glasses. Reduced prices will be charged on this visit. We wouldn’t need any new resolu tions if we’d handle the old ones more gently. Considering the prices they charge, it looks like bootleggers ought to throw in a lunch. Smith’s Garage Vass, N. C. Repairing and Supplies, Oils, Gasoline, Accessories Service TOMBSTONES AND MONUMENTS For all such, see H. A. MATTHEWS VASS, N. C. Represents ETOWA MARBLE AND GRANITE WORKS, Atlanta. Ga. SAVE 'W'hat You’ve Got! YOUR PROPERTY YOUR INCOME INSURE IT DO rr NOW D. A. McLAUCHLIN, Agent VASS, N. C. Fire Insurance Life Insurance Gunter’s Store As we enter upon the busi ness season of 1 9 2 2 you will find our store the store of reasonable prices, and in a better position than ever to take care of your wants in a manner that will prove entirely satisfactory. Gunter’s Store \ I \ -s / “BEES1 Dear Readers:— 1921 is now past hi is here with all it’s o] possibilities. Will we| of them? In unity there is si cord there is peace, tion there is just sense. The Sandhills sociation was launchel past, and is now a goi we are going to make] an asset to “The Si 1923 rolls 'round, was not formed to sociation, but to acc< keepers who live wit| 50 miles of Crathagej There is positively to keep bees in the there is less sense ii way, and selling in tl association helps it’s their supplies at who! discounts ranging an| to 18 per cent from tail prices, and by shi much freight charges The association will k| bers fully informed o| in beekeeping and beel and also informed o| tions, and will, when] the members to ma] and other products od The association r< every beekeeper sub| good bee journal, ai can in this way leaj bees for pleasure an< so want to tell you| of each association sweet clover, and tall to their farmer frien< is the greatest of a| for the honey bee, profitable for the fai it. The association n ship fee only 50 cej order to show the m< no intention of com| association. Any on< the Sandhills Beekeej may become a memb| cents, the annual f< Treas. and he will m; ship card, and have supplies mailed to tl ing are the officers for 1922: president,] Manly; vice-presidei Cameron; secretary | Luther Fink, Camer< It is well for each that the secretary a| a lot of writing to d< each member to ah cent stamp when wi is doing the work f< free, and does not afford to pay postaj He wants each spective member, t( association will sen< tion’s regular order! January 25th, 1922| who wants supplies select their suppliej order • to the secreti in plenty of time their order in with| order on January 25 Each member of| will, or has been, of bee supplies froi and from Roebuck they order from Ro< can deduct 18 per ct der and send cash fo| to the secretary an< can deduct 15 per c< Hoebuck Gin Co’s
The Pilot (Southern Pines, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Jan. 6, 1922, edition 1
2
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