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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Oct. 30, 1962)
8 B TUESDAY, OCTOBER 30, 1362 MEDFOHD MAIL TRIBUNE, MEDFORD, OREGON ss Your Money's Worth By SYLVIA PORTER Copyright, Hall Syndicate, Inc. Notes Reveal Woodrow Wilson As Deeply Affectionate Man Princeton, N. J. - iLPli - Woodrow Wilson, who pre sented a stern, dispassionate public image as the nation's 2fith president, has been re vealed a? a deeply affection- i ate man in a collection of romantic love letters ex changed with his first wife. I THE NEW TAX LAWS' MEANING TO YOU V HOW TO USE TAX REBATE Many of you in business, trade or the professions will find .when you make out your 1062 income tax return that the new investment credit heart of the Revenue Act of 1962 If giving you an utterly unanticipated tax cut on this year's earnings. For this credit applies to all your qualified pur chases of equipment after lilb'l, regardless of why you bought the equipment. You can take the credit as a direct reduction of the tax you owe on your 10H2 return. It is, as previously reported, in effect a tax rebate. But while the credit is a windfall lo many of you who would have bought the property inyiny case, a highly impor tant point is that it also can make It considerably easier for you to buy depreciable equipment, autos, etc., in the fuure. To illustrate, assume you are a small businessman whose top lax bracket averages 30 per cent. You want to buy a new, modern piece of machinery which you will use in your business for eight years. The cost will be $10,000 and the first year's down payment, $2,500. Under the new law, you are entitled to a credit of 7 per cent of the cost and this credit plus the depreciation you can lake will give you back in tax savings in the first year major chunk of your $2,500 down payment. The 7 per cent credit will hand you $700. The 20 per cent first-year deprecistion will save you taxes of $558. The 200 per cent declining balance depreciation will add $558. Your total tax saving in the first year will come to $1,81H, almost enough to supply funds to make the down payment. Here are other significant points about the credit. (1) It is not restricted to new property. You can purchase used equipment and also get a tax rebate. However, while there is no limit on the amount of new equipment which can be purchased and qualify for the credit, the annual celling on used property which can qualify is $50,000. There fore, if you may run over this maximum in any one year, your aim should bo lo time your buying to keep each year's purchases of used property within the $50,000 annual ceiling. (2) This is not a tax break which you can elect to take or turn down. If you don't take it, your basis for depreciation will be reduced by the credit anyway. So if you're entitltd to the credit, take it. (3) You don't lose the credit if you buy eligible property, but don't have any earnings on which lo pay taxes and there fore, no tax against which to lake the credit. Any unused portion of the investment credit may be carried back lor three years and carried over for five years. But since no carry-back is permitted to a year ending before l!)t2, if you have an unused credit this year, you can only carry it for ward for use in future years. (4) The credit generally is barred to holels and other lodging houses which cater predominantly to permanent residents, although if the hotel has a restaurant, pharmacy or other commercial facility which is available to the public, the assets purchased for that part of the hotel can get the credit. On the other hand, hotels, lodging houses, molds, etc., which are used predominantly by transients can get the credit for furniture, fixtures, rugs, drapes, TV sets, so forth. (5) If you have leusod rather than bought your now autos, equipment, etc., for businoss or income-producing purposes, you too may get this new lax credit if you can convince your lessor to give you lho unanticipated bo nanza which he otherwise could lake for himsolf. The law specifically says thai the lessor can pass on tho in veslmen credit to you. If he won't, you might considor buying rather than leasing the assets and picking up the lax credit yourself. This new credit is going to Involve a lot more record keeping on purchases of equipment than most businessmen or professionals have been doing. Each item thai qualities must be given a specific useful life and since the "pre mature" disposition of any item within eight years may cause the loss of part or all of the credit, you must be able to identify which item was sold and prove when. Next: Crackdown on expense accounts. Dennis the Menace HI The 1.480 letters presented to Princeton University last week read more like the dec larations of a romantic poet than the writings of a man who was to lead the nation through the dark days of World War I. The collection, including .sttfe. .... t; 'X.... i' atf TWIN TROUBLE- The parents of Roberta and Robert Wol nitzek, Covington, Ky., believe this may be carrying the business of being twins too far. The 13-year-old twins suf fered their mishaps 11 days apart. Roberta broke her left arm while climbing a tree and Robert broke his left arm while playing football. (UPI) Small Worlds Around Us By LYNN M. WATKINS (Register and Tribune Syndicate 1962) Birds of a Feather Flocked Together Into Expressions Their numbers must be great, those trusting children who were told by their elders that the only easy and proper way lo catch a bird was "to put salt on their tails." As explained by those deceitful adults, Ihe bird's capture was "as easy as falling off a log." No one knows how many children chased how many miles, salt-shaker in hand, in a vain attempt to place a "pinch of salt" on the tail ot some elusive bird. The child, with childlike faith, never slopped to figure out how ri diculous Ihe while business really was, for if he could get close enough lo place the salt he would mil have needed it. He could have picked up Ihe bird. Soli and Cuddly It would of course be nal ural for a child to want lo calch a bird. The creatures are active, which would inter est any child and birds look solt and cuddly. Besides most birds are colorful and the child could he fascinated by a rippling bird song. It was of course a short step from tho sall-on-the-tail busi ness to Ihe "hii'd-in-thc-hand" beuiH much more worthwhile than "two of them in a bush." This may have had a liltle more su,nilicaiicc. This saying can apply lo the "have-or-luivi'-nnt" formula, better de scribed as a half-loaf being a liltle belter than no bread at all. Ihrcls and their actions must have appealed pretty strongly lo adults as well as children, lor whoever coined the phras es used birds pretty Ireely. Kor a f.n-leti'lied proverb, there arc still sonic of us who use the expulsion, "it slicks in his craw." whenever we want lo call another's atten tion to revenge, spite or I hat iviiiliurl and understandable "trying to gel had something to do with birds, as chickens are birds, and someone, when no one of importance was looking, prob ably picked the chicken leg and ate it by holding it in the fingers. All these expressions of course, were coined by those folks we now consider rather unsophisticated. So, still keep ing the birds in mind and within recent times, we de scribe a dull person as a "bird brain." Too, we attempt to display a great worldliness and smug sophistication by jeeringly listening to eve n goud advice by saying "That's for the birds." 4 HOME SEARCHED - Thomas R. Richards. 37, of North Wey mouth, Mass.. whose home was searched by federal men seeking $1,551,277 stolen in t h e Plymouth. Mass.. mail truck robbery in August, is shown in the office of his at torney in Boston. (UPI) 0H. I JUST HAVE AfJ AvWAGE SIZE ' WELL , IVHERE WE HECK 0ACKWD. WHY? W W STUFF? "criiw is an lit hini, o vi it obviously Phone your questions to GOVERNOR HATFIELD Hi record is an open book ask queitionj on future plans, the past term or Anything else. Meet the Governor personally on TV 779-1 321 rf v,1 ' TELETHON KBES-TU TONIGHT 7:30 - 8:30 p.m. luniKin tr;ut of evtn." Ot t'ourt' (i intrrn.it orjian thrM' ainmnls ; in muni when tlu- expression u.is i.tun. Some of us have never forgotten it and still use it m our conversation, even when we are a little vaue as to the purpoe or lo cation of a huils "craw." "Eating crow." to, was and i a pretty humble way of in ihe.mnK elumnn Tough Birds Grandfather, as well as his lather, described onie people iis '"touuh old buds." which was about as expressive as they could set at the tune. It must h.te been their r.eiiih boi who. desirini; to make a complaint about a real or a fancied w roiu. said 1 ve a bone to pick with ou" This one too . ridiculous, hut it Financier Returns To Face Charges New York il'PI' - Fugitive financier Edward M. Gilbert. : who fled the country after telling his board of directors ihe had withdrawn nearly $2 I million from his firm without I authorization, returned volun- tanly from his Brazilian sane luary today, i Gilbert was met at Inter national Airport by two U.S. marshals who took him into custody to face charges in con nection with manipulation of the funds belonging to Ihe E. 1. lu uce Co , a hardwood llooring manufacturer, of which he was president Gilbert's lawyer. Arnold llaiiman. who also met t h c balding. :18 year-old financier, s.nd he planned to have his client plead innocent at his arraignment later today. j 811 letters written by Wil son, were presented to Princeton by Wilson's only surviving daughter, Mrs. Eleanor Wilson McAdoo, 73, of Santa Barbara, Calif. Wilson was a graduate of Princeton who returned to teach and become its presi dent. The correspondence covers a period of 30 years from 1883 when he met Ellen Lou ise Axson until 1913, shortly before her death. They were married in 188S. Prof. Arthur Link, who U editor of a collection of Wil son's papers now being pre pared, said each is a love let ter full of "an outpouring of 1 1 love above all other created I love for you all, but particu affection which continues un diminished from the first mis sive to the last." Wilson first met Ellen in Rome, Ga. She was the daughter of a Presbyterian minister and he a young law yer practicing in Atlanta. The correspondence began with a shore note Miss Axson wrote to young Woodrow about a "previous engage ment." Soon he was addressing his future wife as "my own darling" and confessed "an irrepressible tendency to open my mind and heart to the precious little lady whom beings." Wilson's last letter to her was written on White House stationary on Oct. 12, 1913 while she was in Cornish, N. H. Wilson wrote: "Do you realize that I have been alone, what I consider alone in this' old mansion, for just about half the time I have been president? That's the H-of the way to treat a president, isn't it? "Ah! my darling, my dar ling! I am beside myself with the joy of it all, my exile is over. . . "My heart is too full to go on - full to overflowing with larly for the sweetest wife in the world. Your own Wood-row." "OIL TO BURN" Mobilhut S & H Green Stamps MEDFORD FUEL CO. 772-2111 ELECT RALPH A. 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