1040 Taxes Brain, Pocketbook
By JAMES MARLOW
For thr Emerald
WASHINGTON >JP> — What
form do I use’ How do I take
my deductions’ Those two ques
tions. not hard to answer in
making out your tax returns on
1967 income, will be dealt with
here separately.
There are two principal tax
forms: 1040 and 1040A. Anyone
can use 1040 and some people
must. 1O10A. a punchcard, is
simpler but not everyone can
use it.
Form 1040A
Only under 510,000 - income
people can use it—but not all of
them caii.
You can use it only:
1. If your income was entirely
from wages reported on the W-2
withholding receipts given you
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by employers for tax withheld
from your pay or consisted en
tirely of such wages, plus not
more than $200 of income from
other wages, dividends or inter
est.
2. And if you do not itemize
your deductible expenses but
are willing to accept the stand
ard deduction allowed all tax
payers without itemizing.
Form 1040
If your income was $10,000
or more you must use it. Sc
must anyone not fitting the re
quirements for 1040A So must
anyone itemizing his deductions
You must use 1040. no matter
the size of your income, if you
are a single person claiming tc
be "head of household" or i
widow or widower claiming tc
be a “surviving spouse" — twc
groups which get a special ta>
breaker—or if you claim credii
for retirement income or ex
elusion for sick pay or if yoi
paid an estimated tax in 1967
How to find your tax:
Anyone with $5,000 or more
income—whether or not he i;
one ol those under-SlO.OOO peo
pie who can use 1040A—-musi
figure his own tax. using one
of the three tax rate schedule;
in the instruction pamphlet sen
all taxpayers by the Interna
Revenue Service.
You can't use the much sim
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pier tax table which has the
tax already figured out be
cause it only applies to incomes
up to $5,000.
So only the under-$5.000 peo
ple who tit the requirements
for using Form 1040A can find
their tax without figuring it in
the A. B, or C tax tables which
are also in the IKS instruction
pamphlet.
The government allows every
one making a return a standard
deduction up to a maximum of
$1,000 for deductible personal
expenses. This often provides a
larger deduction than a per
son's actual expenses.
Watch Your Claims
And. when you use the stand
ard method, you don’t have to
explain or prove what your ex
penses were.
But if they were greater than
the standard allows, you'll lose
money unless you claim them in
full. But. when you do that, you
must itemize them, use 1040.
and figure your own tax.
When a husband and wife file
separate returns and one item
ires, both must itemize, claim
ing only those expense* which
each cun prove. This, of course,
means they must also figure
their own tax use form 1040.
The standard deduction:
This has two faces: there is n
10 per cent standard and a mini
mum standard You can choose
between them for your own ben
eflt.
The 10 per cent standard
means you can deduct 10 per
cent of your income, before
what's left is taxable, up to a
limit of $1,000 for personal ex
penses considered deductible.
The minimum standard lets
you deduct $300 for yourself.
$100 for each dependent, und
$100 for your wife if she tiles
jointly with you or, having no
income, is claimed as an ex
emption on your return But
here again the deductible lim
it is $1,000
If a couple files separate re
turns and one uses the 10 per
cent standard deduction, both
must If one uses the minimum
standard, both must.
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SEATTLE <AP)—When po
lice arrcslad a 28 year old man
for hitchhiking Wednesday,
they listened amazed when he
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him earlier of $10 and five con
lamer* of marijuana.
Police then aearched Un
hitch hiker and found three
haif* of marijuana jvhich the
robber* hadn't taken The man
complained attain.thi* time be
cause the robber* hadn't taken
ail the marijuana.
However. officers said the
man insisted on Ming a robbery
report on the missing marijuana
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WEEKLY
CALENDAR OF EVENTS
meetings held in the Student Union unless otherwise indicated.
MONDAY
8:00—EEII Comm.
11:30—Biology Search Committee—Fac
ulty Club
12:00 Noon—Faculty Faith—Learning
Seminar—Faculty Club
Discussion Group—Uses of Leisure
time
Oregon Law Review
Spanish Faculty Luncheon—Faculty
Club
Speech and Hearing Clinic—Faculty
Club
Spanish Language Table
ASL'O Cabinet Luncheon
A.A.G.S. Curriculum Comm.
3:00—Biology Dept. Search Committee
—Faculty Club
4:00—Elections Court
6:00—Frosh Basketball: Linfields JV"s
—Mac Ct.
6:45—Grides Initiation—Gerlinger 2nd
Floor
:7:00—Angel Flight Interviews
Orides Business Meeting—Gerlinger
1st Floor
Scabbard & Blade
7:30—Folk Dance—Gerlinger Annex
Human Rights Educating Committee
Reverand Summers Lecture ASUO
Speakers Bureau
Latin American Students Assoc.
8:00—Yar. Basketball: L'niv. of Utah—
Mac Ct *
TUESDAY
8:00—Traffic Court
9:00—Y.A.F.
10:00—Biology Department Search Com
mittee—Faculty Club
11:00—Biology Department Search Com
.rmttee
12:00 Noon—Japanese Language Table
Advisory Council Luncheon—Faculty
Club
9 The Newly-Elected President of the
Graduate Student Council—Topic:
TUESDAY
Politics and the Graduate Student—
Grad. Center
Librarian’s Office—Faculty Club
Architecture—Faculty Club
Dean's Advisory Committee, College
of Liberal Arts—Faculty Club
Student Conduct Committee
1:00—EMU First Aid Course
Biology Department Search Commit
tee
1:30—Phi Beta Parton Business Meet—
Fleming's Home
3:30—Biology Department Search Com
mittee—Faculty Club
4:00—EMU Board House
Election Poll Workers Orientation
7:00—Angel Fligh? Interviews
Jr. IFC Guest: Robert B Duncan
Young Republicans
Personnel Division EMU
7:30—Pre-Law Society
7:45-—Robert B Duncan Speech—123
Science
8:00—World Around Us Series: "Lost
Worlds of Man. Art. and Architec
ture" — 150 Science
Grateful Dead Dance S.D.S.—Ballroom
WEDNESDAY
8:00—ASUO Primary Elections —EMU
Carson Hall, Library. 150 Science,
Commonwealth
12:00 Noon—Christian Student Fellow
ship
French Language Table
Biology Staff Meetnig—Faculty Club
Geography Staff Meet—Faculty Club
Student Conduct Committee
2:00—EMU Staff Meeting
Course Base Committee
4:00—Faculty Senate
Dad’s Day Chairmen
Spring Prom Steering Committee
6:30—COS Cabinet Meeting
7:00—Duplicate Bridge—Faculty Club
Underground Fiim—130 PLC
AK Psi Info Meeting
Film: "Mouse that Roared” YD’s also
WEDNESDAY
9:00—150 Science
HEP Film
7:30—Browsing Room Lecture: Dr E.
G. Ebbighausen, Prof of Physics
and Astronomy. “New Research at
the Pine Mountain Observatory"
U-Lane-O Federal Credit Union An
nual Meeting
8:00—German Club
Drama Gianni Schicchi The Unicorn,
the Gorgon and the Manticore
Univ. Theatre
THURSDAY
8:00—Traffic Court
9:00—Program Staff Emtg.
10:00—E. C. Brown Trust Advisory Com
mittee C.S.P.A. — Faculty Club
11:00—Southeast Asia Project
12:00 Noon—Faculty Librarianship —
Faculty Club
German Lang. Table
Chinese Lang Table
Solid State Physics Seminar
Lacrosse Club—-16 Science
Festival of Arts—Faculty Club
3:0O--Werdna Wyatt C. S.
4:00—AAA Lecture: "Who Are We?”
William R. Davenport, Assistant
Prof of Interior Architecture
Emu Board Meeting
international Coffee Hour—Gerlinger
1st F'loor
6:30—Chess Club
Film Classic "The Servant” also 9:00
— 150 Science
Baptist Student Union
7:0O—Christian Science Organization—
Wesley Foundation
7:30—Harrison Salisbury
A. M Badia Margarit—Romance Lang.
Lecture
8:00—Drama Gianni Schicchi — The
Unicorn, the Gorgon and the Manti
core—Univ Theatre
FRIDAY
Oregon Collegiate ski conferende
thru Jan. 4—Mt. Bachelor
Courtesy of Your
CO-OP STORE
8:00 Physical Plant Administrators
11:80 Biology Search Committee Fac
ulty Club
12:00 Noon Russian Language Table
Portuguese Language Table
Dept of History- Faculty Club
3:00- YD Co Convention
Biology Dept. Search Committee Fac
ulty Club
4:00 Roger P. ('bickering—Stanford
Cniv. Stanford, California "Pacifism
in Germany 1900 1914 History dept.
4:30—YD Co Convention Senator
Morse
7:30—YD Co. Convention Senator Mc
Carthy
Hillel Serv ices
Varsity Swim: San Jose Cniv —Kugene
8:00 —Var. Wrestling: Cal Poly —Mac
Ct.
8:00 Drama Gianni Schieehi—'The Uni
corn, the Gorgon and the Manticore
—Univ. Theatre
Second City Film Program No. 1
festival of Arts —150 Science
SATURDAY
9:00 -D.G.W.S.
YD Co. Convention
12:00 Noon YD Co. Convention Lunch
eon Sen. Fadeley
12:30- Varsity Wrestling: Univ. of
Wash Mac Ct.
2:00 Soccer: Malards vs. Portland U—
Hayward Field
Rugby: UBC- Vancouver
Varsity Swim: Univ. of Wash— Eug.
2:30 Varsity Wrestling:San Jose State
Mac Ct.
8:00 Africa Today Program
Little Concert Series: Juillard String
Quartet -Mils. And.
Drama: Gianni Sehicchi The Unicorn,
the Gorgon and the Manticore —
Univ. Theatre
8:15 Var. Gymnastics: Kastern Wash.
State College Mac Cl
3:30 Military Rail Kugene Hotel
SUNDAY
3:30 Sunday Feature: "Topkapi" also
8:00
700 Frb Publicity Committee
All Horn* must bo tinned in to
Midi of tlm km 11 by 11 n.m. Thurs
day In bo Itu bided in this calendar.