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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (July 25, 1962)
MEDFORD MAIL TRIBUNE. MEDFORD. OREGON WEDNESDAY. JULY 25. 1962 W- MONTGOMERY WARD 117 S. CENTRAL 773-7301 OPEN FRIDAY 'TIL 9 Furniture, mattresses, floor coverings, draperies and other home furnishings all of splendid style and quality, and now priced for very exciting savings! ;. "'rt-sJ-s ?:.". S, ! - - . . 1 4-pc. sectional ' 1 JfHlWJ, I SMS1 ,J,HI ste S-- . PILOTS HONORED-NASA test pilots Joe Walker and Cmdr. Forrest S. Petersen observe actresses Janet Blair and Gisele McKenzie as they demonstrate the proper climb-out attitude of the X15 rocket plane. The actresses were guests at a luncheon honoiing four X15 pilots at San Diego, Calif. (UPI) Annual Meeting Set In Ashland Ashland-The Southern Ore gon Conference of Historians will hold their second annual meeting Friday. July 28, at Southern Oregon college. Registration will begin at fl a.m. in Britt Student center. Dr. Robert Whitner. pro fessor of history at Whitman college, will speak on "Myths and Myth-Makers" at 10 a.m. Dr. George G. Bruntz, pro fessor of history at San Jose State college, will discuss "The Historian and His Search for Truth" at the noon luncheon in the Mark Antony hotel. A visit to the Jacksonville museum will begin at 1:30 p.m. with a reception and tea sponsored by the women of the Jacksonville First Presby terian church following. The day's events will be concluded by attendance at a performance of "Coriol anus" in the Shakespearean theater. Registration fee will be $1 per person and the public is invited to attend, according to Dr. Arthur S. Taylor, chairman of the social science division at the college. The conference is spo isored jointly by the Southern Ore gon Historical society and Southern Oregon college. r- .i Your Money's Worth By SYLVIA PORTER Copyright, Hall Syndicate, Inc. IN RICH NYLON UPHOLSTERING T.,,t.. ,,. i IIUI Mil V U 1 3 IU II u 1 11 y YUIUCI & Long-wearing nylon frieze JS cover with welted back design. Soft reversible foam cushions. On sturdy all hardwood frame. KXO ttCLUMvlir IT MONIGOMfflV WAIft 1 cools modern hidden bed SAME SPRING UNIT AS IN OUR 59.95 MATTRESSES! YOU GET "EXPENSIVE" COMFORT AT SPECIAL BUDGET PRICES! BUSINESSMEN: GET EXPERT HELP ON DEPRECIATION RULES There is one professional man who will work harder be cause of the Treasury's widely heralded liberalization of the rules governing the tax deductions which you, as a business man, can take when you invest in machinery and equipment thc so-called depreciation rules. That professional man is your accountant. There is one move you, as a small businessman par ticularly, should make before you even try to take advantage of the new rules. That move is to ask your accountant to explain precisely how much the new depreciation schedule can put into your pocket in lax savings and this goes whether you're investing in hand towels for your motel or in highly expensive machinery for your factory. The newspapers have printed millions of words in the past 10 days about the Treasury's first lull-scale liberalization nf the depreciation rules in 20 years, with each report emphasizing that the changes give businessmen a "tax cut" amounting to SI 5 billion a year. Yet as Leon Gold, chief tax expert of the Research In stitute of America, put it to me when we discussed the new rules the other day. "I've had calls daily form some of the most qualified businessmen in the country asking what the new guidelines mean to them, although they have read the new giudelines as well as all the news stories." Your accountant should cut through the technicalities and formulas for you. But here, in everyman's language, is what this is about (1) The Treasury has shortened its official list of the period of years over which a businessman buying machinery can deduct the cost of this equipment from his taxable in come Let's say that in MltiO, you bought $20,000 of equipment which the Treasury's old rules said had a 20-year useful life. Under a common method of figuring depreciation, in the past two years you have charged off that equipment at the rate ot Sl.noo a year, thereby cutting the income on which you had to pay taxes by S 1 .000 in 1960 and again in 1981. Now the Treasury says the useful life of your equipment is 10 years So. as of ll)2. you can charge it off at S2.000 a year. This cuts the earnings on which you have to pay taxes by an extra SI. 0(10 annually in the years immediately ahead, so you report a lower income and thus pay a lower tax. It's not a tax cut in the direct sense It's a tax savings and the "tax-savings pot." as Gold puts it. is estimated at SI 5 billion a year. i2) Tiie Treasury also has greatly simplified the system nf figuring u.-eful life. Instead of listing 5,000 items:, each with a separate useful life, it has put out a short boonlet which sets a single useful life for all equipment used in an industry as a class. For instance, all the equipment used in the hotel industry- ranging from blankets to fire alarm equipment - has been grouped under one class and given a class life of 10 years. This (implication in itself can be of major benefit to you. i.l) You can set any useful life you wish on an individual equipment purchase as long as the average of your equip ment purchase works out to the average useful life for the class of the equipment. Ynu could, with expert help, save much more than is apparent on the surface of the guide line (4) You nerd not worry about Treasury arguments as long as you stay within the mathematical standards set by the Tre.'isurv A Gold says, "informed businessmen, by shuffling lives of individual assets wilmn the class of equip ment bough', could step up actual depreciation taken by thousands of dollars, sharply increase savings. Also as long as businessmen don't ko below the guidelines' life, they need not worry about any fight with a Treasury examining agent (or three v.irs even if the life of their assets is obviously longer than that set in the guidelines " A moratorium on Treasury quetinninB has been declared for three years. The one negative aspect. Gold stresses, is the complex procedure required in arriving at the new mathematical standards. Hundreds of thousands of businessmen even new aren't taking the depreciation breaks available to them end countless thousands more will forfeil the maximum benefits unless they get expert assistance. Moral Tu.s time. Mr Businessman, big or small, spend jj.or.fv' -n mvc on taxes Dn t try to wade through this pne en y-:ir o"-r I IN ELEGANT MODERN FRIEZE COVER Latest aesign... Cathedral back with welted tailor top. Rubber reversible padded seating and foam cushioned arms. Metal craft bed fixture. With inner spring mattress. $ 199 NO MONjr DOWN SMOOTH FOAM-LAYERED STYLE HOUSE "DELUXE" Same 510-coil unit with a luxury layer of foam under the deco rator designed ticking. Flanged for permanent smoothness; 4 side guards, 2 side grips. Twin or full. Matching box spring . , . 48.88 No money down BUTTON-TUFT SURFACE STYLE HOUSE "SPECIAL" Deep comfort and resilient sup port on this 510-coil innerspring unit! 4 side guards, 2 side grips, woven striped licking with button tufting. 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