April, 1941
individually, get others in the
community to write them and
demand their unqualified sup
port. Have your Chamber of
Commerce, your Trade Organ
izations and members of, your
Church, etc., do likewise. It is
your livelihood as well as your
duty. Take this seriously.
You must file U. S. Income
and Defense Tax Return if your
gross income, if single is $800
or over, if married, $2000 or
over. Gross income defined is
total receipts less net cost of
goods sold regardless of all ex
penses.
These are very Im p o rta n t
If, during 1940, you paid sal
aries, rents, commissions bon
uses and interest to any individ
ual who is single $800 or over,
or $2000 or over to any individ
ual who is married, you must
file information Forms 1096 and
1099 with the Fed. Govt, before
Feb. 15 and Forms 596 and 599
with the State of Calif., if
single $1000 or over and if mar
ried $2500 or over. Your income
return must show an in
ventory for each calendar year.
The difference between the in
ventory beginning 1940 and the
e«d of 1940 reflects either profit
or loss on merchandise neces
sary in computing vour tax re
turn.
AUTOMATIC AGE
Shelf kodak films, value so
much; and so on down. Take
section 2 and do likewise and go
through the store in this man
ner. This way within a half day
you can inventory your entire
premises and should not be off
$100 either way. Keep this as a
permanent record, but do it
now. Don't hesitate to call me
for any information — this is a
free service. If you are one of
my insurance clients wherein I
make the return for you and
charge you a small fee, please
don’t wait until the last few
days, because although I charge
a fee where I actually prepare
the return, it is only physically
possible for me to make a cer
tain number of returns and re
quest immediately my small
questionnaire from which I can
get my infromation.
Many people have an inven-
ory man. This, of course, is the
nicest way, however, if you can
not afford this you must take
your own inventory. If it is im
possible for you to take an abso-
ute inventory pricing each arti-
c e in your store on a cost basis
and then computing the total, a
simple way to take an inventory
at will be acceptable is to
s ait in one corner of your
store, designated (example)
est wall, partition one. If it
has clocks on first shelf, say 1st
s elf clocks, value so much; 2nd
International Arcade Museum
87
Pro a n d Con
Chicago, 111.— Latest argument over
the question of parking meters has
thrown the problem into the lap of
the Corporation Counsel. The city
council had been asked to adopt a
meter ordinance which would permit
parking in front of meters at 5 cents
an hour. The South Chicago Chamber
of Commerce is behind a movement
for experimental installations in its
district. The Chicago Motor Club, op
posed to the meters, argued that they
would be illegal.
Park-O-Graf Produces M ore
Scranton, Pa.— 300 parking meters
bought by the city last fall and in
stalled in West Scranton, North
Scranton, and several blocks in the
central city brought in a total of
$401.37 during the month of January.
As against this showing made by
the Duncan meter, which allows the
use of a penny for a twelve-minute
parking period, t h e Park-O-Graf
meter in the central city produced
$2,020 in January, while the Stan
dard meter brought in $1,877.
chicago's eventful hotel
enchanting guest rooms of a new era
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k in gs . . . flam in g sword d in n ers in
college inn's panther room and malaya
room . . . a ll n ine restaurants offer
delicious food at surprisingly reasonable
prices . . . thronged with celebrities,
from
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a n d ^£a S/a//e
c hi c ag o
•
drive right into the hotel,as you are ®
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