WEDNESDAY. FEBRUARY 22. 1956
HERALD AND NEWS. KLAMATH FALLS. OREGON
PAGF. SEVEN
Morty Meekle EliglbUity Forlax Credit For Retirement Described
nOWrOXXRIKE f I I'MICIUPOF
MVCD&TUME I SUEE IS. - "X WORKER 1
ISN'T IT EXCT1N&? J I HAVE NO, I 1 I HOPE HE
i -gv voj sen HivEst... ) sEHAvea
cj lYANCSY? WriYJy' HIMSELF y
2-21 1M fcj &. I. " "
Edllor-a Note: Of great concern
to many of the read? rs re aspects
of retlrrment income in relation
to federal income tax. The Oregon
Association of Public Accountants
lax information committee has pre
pared the following discussion, pie- deeds.
seated by Herald and fJews as a in both classes of retirement in.
reader service.) com the law establishes a niaxi-
mum of Sl.Mfl on which the crcait
Th. insa intern.: revenue act : is to be computed and reduces
provides a tax credit, for retire
ment income which is a new fea
ture for taxpayers who at some
time in their lives have had earned
income of at least 1600 a year for
10 years.
ctllUili... In. this tHit i riif.
.-f'." 7.11. a .-Alices above $900.
lerei.i ior umjojck ,i,.inn nf irliip.
ment Income the moss rentals re
ceived before deduction for ex
Is materially broadened to Include personal services in computing any Hie amount of the retiremeni
all pensions and annuities that are 1 reduction due to personal Income credit is further limited to the
taxable, whether from public or . j eXcess of $900. ' I amount of trie tax computed on in;
private retirement tysiems, retire-1 -
ment pay 110m tne arnica ioiccs,
interest, rents, and taxable divi-
face of the return, less any divi-1 mallon on retirement Income ready
dends received credit. I bclore you start to I lie your return
Be sure you have all your iufor-or to seek professional assistance.
this bv any - amoums received
under the social security act. the
railroad retirement act. or other
retirement income which is 11 o t
taxable: and. in cases of laxpay-
I ers under ;s years oi axe. all in
come received from personal serv-
those over 6;
For taxpayers under 65. pensions
and annuities received from public
retirement systems, such as civil
service retirement, teacher retire
ment, and various state and mu
nicipal retirement systems, are
the only items that qualify and
are used in computing the credit.
Retirement pay from private pen
sion nlaus do not quality.
Tor taxpayers over 65 the base
on which the credit is computed
penses is used and 30 per cent of
the income from a trading part
nership is presumed to be from
Plaques Given Ski Students
DUNSMUIR Of the 116 students
talcing skill tests at the Mt. Shasta
Ski School finales at Snowman'.?
Hill on Saturday morning only
two were awarded Class A plaques.
Qualifying as experts were Leo
Galley of McCloud and Cordon
Buck Jr., of Redding.
Leo Galley also won the Lions
Club trophy in the Junior giant
slalom ' in the afternoon events.
Gordon Buck was second and Dan
Haglstrom was third. In the girl's
Junior giant slalom, Marion Thie
Ibolt of Mount Shasta won the
Rotary trophy with Shirley Graves,
second, and Yvonne Brown, third.
The men's open giant slalom and
the Dicker's trophy was won by
Chap Wentworth; Bernie .Young,
second; and Russ Luddon. third.
In the women's open giant sla
lom, Jo Herbert won the Bill's
Ski Shop trophy. Colleen Court
wright, second; and Julie Jcnni,
third.
In the Class B uphill, downhill
race, David Carlberg. first; Pal
Gutman. second; Helen Gutman,
third. In the Class C downhill,
Robert Marchl, first; Ted Mich
ael, second: and Randy Messen
ger, third. In the Class B down
hill. John Carlberg, first; Mike Au
bert, second; Steve Runyon, third,
The ski school was conducted by
the Mt. Shasta recreation district
and the Mount Shasta Herald j
Jack Murtha, recreation director,
reported that 296 pupils registered
and the average daily attendance
for the school was 1M pupils. He
estimated over 150 spectators were
present on Saturday to watch the
tests in the morning and ski carni
val in the afternoon.
Murtha expressed particular
pleasure in the 12 volunteer in
structors who conducted the school
and to Beat Jenni. school director.
He largely credited Jenni with the
school's success, noting that Jenni
had been a ski instructor in the
Swiss Army and on the Swiss
Olympic team.
FARMER KILLED
STANTON, Ky. If An 82-year-old
farmer was killed yesterday
by a runaway mule team which
dragged him about 100 yards on
a gravel road. Charles Norton
Crowe had been gathering com
on his farm and his young mules
apparently became frightened as
he drove them onto the road. He
fell between the animals onto the
wagon tongue.
pST0Pjl
KISCO Roll Cutters
Makes Delicious Clover Leaf mni
Far) Tan Butter Rolls.
Goeller's
522 Main
SMOKING HADIT
Safe Easy Way
TOIACCO BtlATH TOLMCCO NltVIl
TOIACCO HflAlT
r" t T W. tnt-n-n hatnl with it health kitlirtf
rflectx on heart, ihroat and limp. Nicotine Is
pouonoui ana m rtai oaiifcr 10 tno tmnn.
Don't he fooled by Uxiay'aCijrarellf advenuing
with it tricky savings and catchy jingles.
Tobacco smoke DOKS dry out the throat and
male vou couf W- Make up your mind to break
.r tArnfcnhahit trvlav. tee) brttrf .eat hrttrr.
sJeep better. Senaliortal SMOK -NO-MOR
Tablets must help you break th imokwf habit
WlUun one snori. wees or money iciunum,
MOUtAt $.O0 PACK A.I
SPICIAI...ONIY $1
LEE
HENDRICKS
Your Neighborhood Drugfitt
2212 So. 6th Phono 4321
"An
auto insurance
P.
policy is a jrromise
...as good as
the company
behind it!"
LAx-7
. Bobirt E. Wood, former Chairman
he Board. .Van. Roebuck and tympany
founder of the Allslale Insurance Company
eerpWENTY-FlVE YEARS AGO I Stood
i- before the Sears, Roebuck and Co.
Board of Directors and enthusiastically
recommended the founding of ihe Allstate
Insurance Company. I was convinced we
eould give the car owner a belter value
for bis aulo insurance' dollar. Bui just as
important, I was conlidenl we eould set a
' new high standard for ;laimelllenienls.
"After all, an aulo insurance policy is a
promise to protect you against certain
linancial losses in lhe event of an aulo
accident. Like any promise, it is only as
pood tis the company behind it. Ve were
determined to treat each claim with lhe
fame ah-olute fairness that had made Sears
one of lhe most li uMeil names in American
business by promptly paying a dollar for
every dollar due.
"By following this philosophy of fair play,
Allstate has risen to world aulo insurance,
leadership in just 25 years. Over 3,230,000
policyholders tay much belter than I can
that 'vou can be sure you're in good hands
with Allstate."
Ue're proud of this record t
As Allstate celcbratea it liber annivenarT,
e poiot with pride to the high percentajfe
of policv holHeri who continue with us year
after year. Thi fact alone it convincinf ei i
dencr that Allstate i livin" lip to the Hand
ard of fat. fair claim srttlnnrnts pet worn
the enmpmv hh founded.
ll'tate has alo lept ilk promise to df lit er
a better auto insurance value. Over the past
2j vears, car owners base Med million nf
dollars with Allstate, lou ju't i-an't buy
6e(iT auto insurance, why pay more'?
See or pi,. .18 your Allslol Agtnl
Fred Lawrence and Lloyd Mudder
Sears, Roebuck and Co. Bldq.
133 So. 8th St. Phone 5188
You're In good hondi with . -
Lias
MtUAHCl M e A v
K COMPANY PROTECTION
ttwmitt faart Audi ond kaWtn irt mi itponw Inm t aorinl. Ston,
KoitHxl ond Co. Horn Otar Sioitt, lflin'i e.t. eo
The big move is to the big
CoJercury
Your dollars buy more in
the big Mercury
FOR 1956
For The Best Deal Ever
See Us Today .'
BASIN MOTORS
DO
424 So. orh
Ph. 7778
a easier than "
vfST 9ush,ng A BUTT0N
V
BECAUSE WE
ALL THE WORK!
Thai's tight! Just as lion as you sail, wa takt
ovor your hcotinf problaml. Wt mak sura
thot you ntvar run out of oilf chock your haot
Ing equipment, and fivo you ttio best -tiblo
service ovoiloblt. Call tedoyl
s
I
835 Market
Phone 5149
PEYTON & CO.
u
11th & Klamath Phone 8141
FREE PARKING while you shop!
- t
li
lUlpUUll
Automatic Electric Range
1799S
Was 279.95
SPECIAL
New Super Speed surface heating; unit -
world's fastest! 5 accurate heats for each of
4 surface burners! Giant Super Oven . . .
cooks complete meal for 24 !
k Automatic Oven Timing Clock
k 3 Storage Drawers
- Titanium Porcelain Enamel Finish
k Many more 50th Anniversary Features.
5
down 24 months fo pay
Ll y ' Coodyear lira
-i .-' 'WW"','.V'''S'WW'W''''',
of this sensational
Sale Price
4.00x16
. &tJo.70xlS.
plut lax and your rncappabh tira
Offers like this don't happen
often, and when they do they
don't last long. Better get yours
today while this limited supply
is still available.
Marathons feature Goodyear't
saw-tooth tread design . . .
for added safety, more stop-and-start
traction . . . longer mileage!
BOY'S OK GIRL'S
26 inch Bike
38s8
Only
TRANSfSTOX fORMBLf
Bst buy in full-iitt bikt
today. CoMter brakei.
Chain guard. Spring Saddlt. '
Goodyear balloon tires.
Dupofit "Dulux" paint. V
on
Pocket Radio
,..095
includes bofltriti
SPECIAL I
Automatic Air-Blower
Hotpoint Clothes Dryer
The miracle of compact power.
No larger than a postcard. The secret?
Long-life transistors no tubes.
Lifetime ebony or ivory case. Earphone
for personal listening also available.
GE Automatic Skillet
Now Only
New Low Price. Does all
types cooking jobs; Auto,
temp, selector, lM'-W.
I .(0 down 1.25 wttdly
GE Steam & Dry Iron
149S
v -
f
Now Only
Nw Low Price. Makes iron
ing eaiy. Automatically
controlled - no scorching.
1.50 down J. 25 weekly
Savei time . . . wvea work
. . . uvea YOU! Excluatvt
CalrodrV heating uniu
dry clothes soft, fluffy,
outdoor fresh - ready to
iron or wear! Mirror
smooth porcelain finish
pumpers even the most
delicate of fabrics. Tests
show clothes last longer
. . . look better the
Hotpoint way!
R.g.2.50
par wheal
NOW
ONLY
Get that sure
troc'tion for icy road, today!
Rubber Door Mat
lit 119
Only
Link typt. Built to
last for years. Keeps
dirt outside. Won t
Slip, easy to clean.
Res. 199.93
NOW ONir
1499S
Ironint Board Cover
9" fiQC
Spadsl U J
Made of Uundry-wlhd,
pre-shrunk drill for
standard boards. Snug
AlUng.
Hand Spotlight
l.g. f 91 119
Special I
Plugs into car lighter!
Aluminized reflector and
-volt bulb throw besm
equal to 5-cell flashlight!
Auto Garment Hanger
., OQC
Spl' itO
Fits on car window. Sntpa
flat when not in tu. Holds
ovtral garmonU. Rubber
eonucu protect glass.
t . . ..... ... -
raiDl gssr mmmuMMl
Wgppte USED TIRES QrK
iiXi infant -iUiiiSk X ll Hare's real uvinp! 'Tft V rpli-..od
aPiii lC . lliulte V 13 Good selecuon of WM L0 V ' rteoopoHs '' .1
1 1 IkJv Wrys-'JM II lop quslity used iires Y Ml Aa"" i 1 Siva nearly .t the cost ..
I r.-xZ 1 tiV.Ullf II with plenty of tresd. 011 fNtAinUjriy I of new Ures. Goodyear 'l
V
i"
0
if
V
S