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
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ELECT
RALPH A. JAMES
Democratic Candidate for
COUNTY JUDGE
Eflicient Reiponiiblt
Minority Heard Majority Rult
Impartial )
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Judge Comm., Geo. Lottin, chmn.,
Rt. 2, Central Point, Ore.
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ELECT
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