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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Oct. 18, 1963)
SIEOFORD MAIL TRIBUNE. MEDFOUD, OREGON' FRIDAY. OCTOBER 18. 1963 Your Money's Worth By SYLVIA PORTER CTil, Hill Sy4icita, Im. Children Should Be Encouraged To Make Decisions WHAT THE TAX BILL MEANS TO YOU X (Last in a Series of 10 Columns) Millions of us who receive dividends on our stocks, who get sick pay when we are out sick or injured, who buy machinery and equipment (or our businesses, etc., would be affected for better or for worse under the 1963 tax bill as passed by the House. It is literally "for better or for worse," for some potential changes would help us as tax-payers, others would hurt us. To be specific: On stock dividends: The bad news is that the bill would cut the 4 per cent dividends received credit to 2 per cent for 1964 and abolish it thereafter. The good news is that the present divi dend exclusion of up to $50 a person would be raised to $100 a person for 1964 and on. The raising of the dividend exclusion means that you, as a married couple, could then receive up to $200 a year in dividends entirely free from income tax. If you, as a married couple, are already receiving over $200 In dividends a year or you expect to receive over this amount next year, you should do the following to make sure you qualify for the new break if the bill becomes law. Make sure that each of you owns in his or her name enough stock to get $100 of dividends tax free or that both of you jointly own enough stock to throw off $200 or that you have a combina tion of separate and joint ownership which entitles each of you to at least $100 of dividends. On sick pay: The present tax break given to sick pay would be sharply cut down starting in 1964 if the 1963 tax bill becomes law. Today an employee may wind up with a bigger take-home pay when he is out sick or injured than when he is working, for when the employee's pay is continued by his employer or an insurance company under a sick pay plan, up to $100 a week is tax-free. This tax exemption applies to the pay you receive immediately after you are away from work because you have been injured or hospitalized and to pay after the seventh day of absence because of sickness. The 1963 tax bill would change this rule so that regardless of why you are absent because of illness or injury your pay for the first 30 days would be taxable. The $100 a week exemption for sick pay would begin only after the 30-day period ends. On business purchases of machinery: The countless thousands of businessmen who have bought or will buy machinery, equip ment and vehicles eligible for the investment credit would find the credit even more valuable if the 1963 bill becomes law. When the investment credit was written into the 1962 tax law, Congress required a businessman to reduce his basis for depre ciation by the amount of the credit. As an illustration, if he buys a machine which costs $10,000 and which is eligible for a $700 investment credit, the 1962 law permits him to take depre ciation on only $9,300 of the machine's cost. But the House-passed bill would make the investment credit more attractive than it is now, for it would allow you, the busi nessman buying that $10,000 machine, to take not only the $700 investment credit but also depreciation deductions on the entire $10,000 cost. The incentives to businessmen to step up invest ments in plants and equipment would be sharply increased by the 1963 tax bill's rate deduction and special provisions. On using holding corporations as a tax shelter: The 1963 bill would make it much more difficult to use holding corporations as a tax shelter for accumulating dividend and interest income. If you have corporations of this sort or are thinking of setting them up, now is the time to take a hard look at what the bill would do in this area if it becomes law. It's a good bet that the 1963 tax bill will become law. The question is no longer massive tax reduction itself, but only tim ing of passage and some details. Thus this series of 10 columns has been designed to tell you, a taxpayer in any income or age bracket, what to do now and what not to do to get maximum benefits from the special tax breaks as well as the important tax rate cuts in the House-passed measure. Rarely has advance knowledge of pending tax changes been of such direct dollars-and-cents value to so many millions as today. Bv DAVID N'YDICK I'PI Education Specialist Children should learn to make decisions. The need for people who can analyze situations and reach proper conclusions is increas ing constantly. An individual's training and personality are im portant factors in this area. As a child grows his abilities and responsibilities also should grow. He should have increas ing opportunities to use the skills which are being acquired. In this way he learns to use them properly. At first a child will make de cisions without a great deal of thought about the results. This soon will change. He will begin to consider the effects. As he gains experience he will realize that better choices can be made by thinking about the im plications. Varies With Individual Naturally, talents vary with the individual. These variations are in attitudes, creativity, in telligence and interests. Al though these affect the ability to make decisions, there are other controllable factors. One major factor which af fects this area is excessive pressure. Parents or teachers, in order to make a child work I at his maximum potential, might set unreasonably high standards. The child who is unable to match these stan dards often loses confidence in himself. He might begin to feel that he cannot satisfy any-; one. As you can guess, the re sult is indecision. He is actual ly afraid to make a decision for fear that he will be wrong again. Certain individuals appear to have all the qualifications to be good decision makers but they never seem to reach the deci sion. They become too involved in analyzing all the implica tions. They constantly seek opinions from others. These are important steps, but the prob lem is that a conclusion is nev er reached. They have not learned to recognize the point at which the necessary facts have been gathered and further searching is of no additional value. Not All Clear Cut One must realize that all de cisions are not clear cut. They are often based on judgments which weigh advantages and disadvantages. The decision which has the most merit must weigh possibilities. He has a . to one's ability and confidence, be chosen. ! personality which shows confi- This person's associates, par- The good decision maker has dence. He has been given the ents, supervisors, and teachers several assets. He has been I spportunity to practice. Exper- have encouraged him to use trained to think clearly and toiience contributes a great deal I initiative. They have shown confidence in his ability to ful-1 pie have the ability to be lead fill responsibilities. ; ers but it must be developed When we describe a good and encouraged. They should decision maker, we are usually not be pus-'.- d to unreachable describing a leader. Many poo-1 goals. A 3 IKE ATTACKS BILL HARRISBURG (UPD-Former President Dwight D. Ei senhower said Thursday tha Kennedy administration's civil rights bill was too broad and this tends to unify the opposi tion to it. Let's All Go To The International Sponsored by The Junior Service league 3 BIG DAYS OF FAMILY ENJOYMENT At the Medford Armory Rummage Sale Food Sale Bazaar Art Show and Fun Fair (Root) Beer Garden Sidewalk Cafe Continuous Music Modeling Entertainment FUN for the Youngsters! 8 Rides & Games of skill with prizes . . . burro rides . . . puppet show. The kiddies will love it! JCF Courtesy of kVI Jackson County Federal Savings & Loan Association Medford - Ashland Court Reverses Mt. Angel Case SALEM (UPD - In a 4-3 de cision Thursday, the Oregon Supreme Court reversed a low er court decision which had held the Benedictine Sisters of Mt. Angel blameless for injuries suf fered by a 13-year-old boy. The high court ordered a new trial. A decision in Marion County Circuit Court had held the par ochial school near Silverton was not negligent in maintenance of a school building. Robert G. Eberle, Jr., was cut and suffered permanent injur ies when his hand pushed through a glass panel of the door as it was closing. The majority opinion by Jus tice Arno Denecke found that the lower court jury could have found that the school should have known that the glass panel was unsafe. Justice William C. Perry's dissenting opinion was joined by Chief Justice William McAllis ter and Justice George Rossman. Broadcasters Urged To Discuss Limits MINNEAPOLIS, Minn. (UPD The president of the Nation al Association of Broadcasters (NAB) has urged that broad casters confer with newspaper editors over a federal proposal to limit commercial time on radio and television. President LeRoy Collins said at the opening session of a reg ional NAB conference Thurs day the Federal Communi cations Commission (FCC) pro posal was a challenge to the en tire area of free communica tions. Collins said earlier discus sions with editors have brought a shower of favorable editori als supporting the NAB position that limitations are an infringe ment on free broadcasting. The NAB president said he feels "cautiously optimistic" that the fight to squelch com mercial limitations will be successful. WASH DRY R AR OAD It's our 18th ANNIVERSARY SALE and to celebrate, we have an entire Carload of Washers & Dryers now on hand. Our Volume purchase allows us to pass on to you Close-out Savings! You can save now on a '63 Washer or Dryer at this 18th Anniversary event. All models priced to sell! G.E. WASHER (MODEL 654x) 12 pound capacity Filter Flo Washer with 2 wash cycles, 3 wash temperatures and 2 rinse temperatures. The compact cabinet design is counter height and counter depth. CLOSEOUT $I)1A95 PRICE il7 (Less Hapco Trade) , f UWU'-'f m 1 ' r SALE STARTS )fS TBPflYi 1 Willamina Man Dies Of Bullef from Rifle McMINNVILLE (UPD - An autopsy Wednesday revealed that Herbert Gustav Rydell, 58. of Willamina died from a bullet from his hunting rifle. He was at first believed to have died Tuesday as a result of a fall under a tractor. Authorities said Kydell's rifle apparently discharged and the bullet struck him in the knee and chest while he was crouched on the tracks of the tractor. Tpj';fg - ' r t 4 if 'At i y u FREE BONUS GIFT SHEET & TOWEL SET 16-Pc. Queen Marie Sheet 4 Towel Set $24.95 Value If you purchase and install a new FIAMEIESS ELECTRIC DRYER between October 14 and December 14 from HAPCO, your local ClOr Electrical league Dealer , Mr V. i SPECIAL! Model DA 420 DRYER This High-Speed Dryer has "compensated drying" for automatic time and temperature control. Automatic controls and de-wrinkler make this a real time saver for busy mothers. PRICED TO SELL 133 88 G.E. DRYER (Model DA 616 X) Features include big 12 pound clothes capacity and high speed drying system, 3 heat temperature control with variable time control, synthetic de-wrinkler and safety start switch. CLOSEOUT PRICE 159 95 (LESS HAPCO TRADE) OPEN Tonight Until 9 P.M. ape HOME APPLIANCE COMPANY 115 EAST MAIN --MEDFORD o o o o o 0,0 . .
