10 A-
WEDNESDAY, MARCH 8, 1961
MEDFOHD MAIL TRIBUNE, MEDFORD, ORE.
Allowable Income Tax Deductions
Make Owning One's Home Enjoyable
New York - (UPD - To the
home owner who sometimes
wonders it "it's a 1 1 worth
while" as he writes seemingly
endless checks - for mortgage
payments, fuel bills, or paint
and paper, for snow removal,
for fertilizer and grass seeds
this is a particularly reward
ing time of year.
For it is now, at income tax
time, that he enjoys one of
the most tangible rewards of
ownership savings on in
come taxes.
While rent paying friends
' hunt for more allowable de-
ductions that might help slice
the tax total just a bit, the
home owner, almost without
exception, will find that de
ductions permitted property
owners total up well over the
so-called standard deductions
from $1,000 or about 10 per
cent of income, whichever Is
smaller.
Seek Professional Advice
Therefore, the home owner
will save money by itemizing
deductions, and by spending
time enough to do the job
carefully and thoroughly, list
ing all deductions to which
he Is entitled and seeking pro
fessional advice, if necessary.'
As the deadline for filing
federal income taxes ap
proach - Monday, April 17,
this year attorneys for the
National Association of Home
Builders offer the following
tax hints for home owners:
Real estate taxes are de
ductable by the owner of the
property, If you bought or
sold your home home during
the year, the deduction must
be a portion between the buy
er and seller.
Do not, however, deduct
charges and assessments for
services such as water or
trash removal or for improve
ments such as street and sidewalks.
The interest you pay on
your home mortgage is de
ductable. If you do not know
how much interest you paid
In 1960, check with the bank
or other lending institution
which receives your monthly
payment. This can . mean a
substantial saving,
Property losses caused by
either casualty or theft can be
deducted even though the
property damaged or stolen
was for your own personal
Lenten
Message
By THE REV. DR.
EUGENE CARSON BLAKE
Stated Clerk, Uniled
Presbyterian Church in USA
(Written for UPI)
"Judge not that you be not
Judged, for the pronouncement
you pronounce you will be
judged, and the measure you
give will be the measure you
get."
This Is one of the hard say
ings of Jesus. It Is hard In the
sense that It is difficult to be
sure exactly what He meant,
and it is hard also in the fuller
sense that If He meant literal
ly and simply what He said,
it is an extremely difficult
command to obey.
On the surface it would ap
pear that Jesus is saying to
us do not be critical of others,
because if you are, you wil!
be criticized In the same terms
by them. This is, of course,
good advice. One of the out
standing difficulties ampng
people who would be church
or community leaders is their
tendency to be sharply critical
of each other. If people would
learn to be severe with thenv
selves and generous to others.
a good deal of progress In
all good projects would be
made.
But as I look at what Jesus
says in these verses, it Is
clear that there Is an even
deeper meaning. He is saying
that in the very act of judg
ing others, we ourselves arc
judged, There is no exception
to this rule. When you and
1 decide that some one or
something is good or bad, we
are making clear at that very
moment what are our own
standards of value. Every hu
man judgment Is a judgment
In reverse.
OCEANIC SURVEY
Washlngton-tUPD-Tlie Atom
ic Energy vommisslon has or
dered an oceanic survey to
determine what would hap
pen to radioactive materials
released in the seas by mili
tary, industrial or space oper
ations. What It learns will
be of help a spokesman
said, in regulating future
use of nuclear reactors tor
such purposes as dredging
minerals on the ocean floor
or powering pumps for under
sea pipelines.
FALSE TEETH
That Loosen
Need Not Embarrass
Msny wearer of fslss teeth havf
tMITered resl embarrassment because
their plate dropped, slipped or wob
bled at Just the wrong time. Do not
tlve In fenr of this happening to you.
Just sprinkle a little FA8TEKTH, the
elkiillne (non-actd) powder, on your
platen. Hold false feth more firmly,
ao they feel more oomfortnble. Does
not sour, checks "plate odor" (den
ture breath). Get FA8TEETH at anj
4rug counter.
use. Casualty losses include
damage from fire, storm,
flood, lightning, hurricane
and other sudden unexpected
or unusual causes. Thus, dam
age from a bursting boiler or
frozen pipe would be a cas
ualty loss. The internal rev
enue service also permits de
duction for damage caused by
the sudden infestation of ter
mites. If you are covered by in
surance, of course, the loss
must be reduced by the
amount of recovery.
Payments on mortgage prin
cipal are not deductable nor
are expenditures for repairs
or improvements.
Complicated Provision
For the home owner who
sold a house during I960, the
National Association of Home
Builders points out, there is
a somewhat complicated but
very important provision of
the tax law which permits a
tax "postponement" or "for
giveness" on profit from the
sale of a house under certain
conditions.
The tax is "forgiven" if he
buys another home within a
period beginning one year be
fore the date of the sale and
ending one year thereafter,
provided the "adjusted sales
price" of the old residence is
less than the cost of the new.
"Adjusted sales price" is the
selling price less expenses of
sale and less any "fixing-up
expenses" - work performed
to improve the old house
within 90 days of its sale.
If the second house is sold,
the seller is liable to a tax,
and in this connection pay
ment is "postponed." Other
wise it is "forgiven."
Frenchmen Admit
Kidnaping of Child
Paris - (UPD - Two young
Frenchmen who had been
"living it up" with beautiful
women in a smart Alpine re
sort have confessed they
staged the kidnaping of auto
mobile heir Eric Peugeot, 4,
last year, the Interior Minis
try has announced.
Top police officials" said
Pierre "Handsome Serge"
Larcher, 38, and Raymond
Rolland, 28, got the idea for
the abduction from a cheap
paperback novel about a kid
naping, and chose their victim
after a careful perusal of
wealthy Frenchmen listed in
a who's who volume.
Tax Claim Against Bridges Settled
San Francisco - (UPD - The
Internal Revenue Service has
settled tax claims of $82,000
against longshore union lead
er Harry Bridges and two of
his aides for $7,200. .
Government officials an-
Named Council Head
Mt. Angel - Gerry Hugo of
Eagle Point has been elected
president of the House Coun
cil of Gregory hall by the
resident men at Mt. Angel
college.
Hugo, son of Mr. and Mrs.
Gene D. Hugo, is a freshman,
and a member of the honors
program. He will hold office
until the end of second semester.
nounced the settlement was
filed Monday in U. S. Tax
Court in Washington.
The claim was made in
1958 for taxes allegedly due
on funds raised to defend the
three against charges filed in
1949 of conspiracy and per
jury. The men were acquitted
after an appeal to the U. S.
Supreme Court.
Bridges, outspoken boss of
the International Longshore
men's and Warehousemen's
Union, had said that the tax
case was harassment by the
government because of its fail
ure to win convictions.
The other two persons in
volved were union Vice Presi
dent J. R. Robertson and pen
sion director Henry Schmidt.
ATTENTION
NAME -
ADDRESS - -
With no obligation, please send me full details
of the prepaid hospital-doctor plan of . . .
SOUTHERN OREGON HEALTH SERVICE
16 South Bartlett, Medford SP 2-6582
Established and Active In Southern Oregon
. As a Health Co-operative Since 1943
ttiraiibie
and
' 0 l.
" Your Old Rug -j T-" fjj&is
YouPiiy 79
Pays Yoi
FURNITURE!
TO BUY NEW
-LIKE FINDING A MONEY TREE-
Living Room Example
Trade-in Sale Bargain Price279'"'
$5000
Trade-in Allowance
Your Pay . . . $229.95
Sofa Example
Trade-in Sale Bargain Priced TO'"
$2000
Allowance..
You Pay . . . $159.95
Hg We Give You
Open Tuesday Thru Saturday Til 5:30 P.M.
$4 ft Trade-in M&Sm
IU Allowance Vfa
on Your Old Mattress HLfcff
Regardless of Condition
Mattress Example
$M95
$Q00
Quality Furniture at Budget Price
With Budget Terms of Course
on Your Old Sofa Bed
Regardless of Age, Type
or Condition
Trade-in Sale Bargain Price
Trade-in Allowance
You Pay ... . W
Bedroom Example
$1t4Q9S
Trade-in Sale Bargain Price l"v
$cnoo
Allowance vU
You Pay . . ,
TRADE 'N' SAVE
'99'
We Give You
Trade-in
Allowance
on your old bedroom set
Regardless of age,
type or condition.
TRADE and SAVE
AT GATES
Phone SP 2-4158
SAVE AT GATES BECAUSE:
Open Monday Till 8 P.M.
Take plenty of time to pay
, . . trade 'n' save in every
department.
HURRY . . . LIMITED
TIME ONLY!
FREE Off-Street Parking
FREE Delivery Service
No Finance Company
Member AFA 400 Store Buying Power
FREE PARKING
341 N. Central
(Between 3rd and 4th Sts.)
Beside the Store
ki
fi un it nn i tt un if
TRADE AT GATES AND SAVE
MEDFORD AND GRANTS PASS
1