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About Herald and news. (Klamath Falls, Or.) 1942-current | View Entire Issue (Feb. 19, 1958)
HERALD AND NEWS, KLAMATH FALLS, OREGON PAGE THREE Income Tax Tips Research costs. Safe deposit box rent. Safety equipment. Sales expense. Sales taxes. Salaries. Scrapped or aban on your employe's wages. Stamp Traveling costs. Unemployment insurance on your employe's wages. L'nilorms, required by your job and not adap table to street wear. Union assess ments for out-of-work benefits. Un ion dues and initiation fees. Up keep. , This is not intended to be a full and complete list of all the costs and expenses deductible in the production of taxable income. It is only intended to give you a general idea. Almost anything that you spend is deductible if it is spent in the production of taxable income. Before taking any of these de ductions, please be sure to refer to the instructions for exactly how to do it. Consultation with your public accountant will help' clari fy complex problems arising from deductions. taxes. State taxes, stationery. Storage costs. Storm damage. Sub scriptions. Supplies. Taxes. Taxi fares. Telegrams. Telephone. Tools. Transportation. Editor'! Note: Tax savines dos age. Publicity costs. doned assets. Securities, costs of iibiliUes that are easy to over look are treated in this article prepared by the tax information committee of the Oregon Associ Real estate taxes. Rent. Repairs. dealing in. Social Security taxes ation 01 ruoiic Accountants, in cooperation with the National So WEDNESDAY, FEBRUARY 19, 1958 ciety of Public Accountants, and presented as a reader service. Don't cheat yourself on deduc tions. But don't take any deductions to which you are not entitled. Those are bits of tax advice which may on one hand provide i suDstanuai tax saving and may on the other hand prevent a penalty assessment. Deductions are classified as non business or business. The nonbusiness ones are taken on' Page 2 of form 1040 when you itemize deductions. The busi ness deductions are listed on schedule C of form 1040 the busi ness schedule; or on schedule G of form 1040 the rent and roy alty scneauie. 1 Listed here are few of the items that are easily overlooked although they are fully deductible in many cases: I Abandoned property. Health and accident insurance premiums. Ac countant's fee. Advertising. Ali mony. Allowances to customers, bond premiums, etc. Appraisal costs. Attorney's fees. Automobile expenses or the pro rata share of automobile expen ses incurred directly in the pro duction of taxable income. Not commuting or traveling from home to place ot employment. Be sure to include all automobile expen ses, such as gasoline, oil, tires. parking, garages, including the pro portionate share of rent or deprec iation on the home garage, main tenance, repairs, depreciation, in surance. Casualty damage in ex cess of insurance, but not in ex cess of the cost of the automo bile. License fees, sales taxes, in terest and finance charges (where shown separately). Back pay. cost of collecting, Bad debts. Bank charges. Board and room furnished employes. Bond costs, business. Bonds, worthless. Bonus paid. Breeding fees. Brok erage costs. Business costs and The Welcome Wagon Hostess Will Knock on Your Door with Gifts & Greetings from Friendly Business, Neighbors and Your Civic and Social Welfare Leaders On the occasion of: The Birth of a Baby Engagement Announcements Arrival of Newcomers to Klamath Falls Phone TU 4-6185 N cost f oblifatiMil DO Groat, sales under one root .i-,ifcA5,a mm SOFA BY DAY! BED BY WIGHT! Carrying charge, up to six per! cent. Child care. Christmas pres ents to customers and employes. Claims paid. Cleaning and laun dering of uniforms and work cloth ing if they are required by cus-', torn, usage, or your employer, and J I are not adapted to general wear. Collection costs. Commissions! paid. Contributions, conventions, cost of attending your trade. Cus todian s fees. Damages you paid. Delivery. De pletion. Depreciation. Discounts al lowed. Drivers license fees. Dues. Employment agency fee. Enter tainment costs, but not for your self or family. Estate tax where' paid on income. Estates, costs of. Experimental costs. Fees paid. flowers. Freight. Gambling losses equal to fum bling gains only. Gasoline tax, state. Heat. Home expenses, busi ness share. Income tax, state. In-' surance premiums on your busi ness insurance (not life). Interest. Involuntary conversion losses. In vestor's costs. Janitor service. Labor costs. Land clearing, for! current crop. Library costs or de- peciation. License fees. Light. Liv-1 ing cost away from home. Losses. I Magazines. Maintenance. Mater-, ials. Medical expenses. Messen-i ger service. Moving costs. Net op-1 rating loss. Office costs. Painting. Parking costs. Pat ents, depreciation. Pensions paid. Postage. . Power. Property dam- Rainbow Girls Honor Fathers TULELAKE Fathers of mem bers of the Tulelake Assembly, Or der of the Rainbow far Girls, were honored at a 6:30 p.m. dad-daugh ter banquet in the Masonic Temple on February 13. Places were marked for 80 youqg hostesses and guests. Also guests were Mrs. V. Reinmiller, mother adviser: Mr. Reinmiller and members of the board of directors. The tables and hall were decor ated in gay red valentines. The four classes of the Tulelake High School sponsored skit numbers with top place going to the freshmen. Dale Bowen. worthy adviser, was toastmistrcss. Modern Sturdy Frame Matching Arm and Back and Spring Chair Styling Construction Available Reg. $119.95 Sofabed Choose from a wide range of colors in heavy .lac guard Frieze Upholstery. Sturdy construction mod ern styled arms and back. Reg. $49.95 matching chair available for only $34.08. Buy both pieces ' for extra savings. ONLY $134.76. Set not exactly as pictured. (o) r?T)88 V V $5.00 Down -'J IKS! .JSppaL LAMP SHADE SBl IfeTI 2.88 ,mM Gleaming Chrome-Plated Steel for Lasting Beauty Modern Dinette Reg. 59.95 Melamine plastic top Now at extra savings 5.00 Down Designed tor today s living, carefree clastic table top is heat, stain and scratch resist ant. Four matching chairs have comfortable padding and curved backs. Mother of pearl pattern in four colors. Modern design 2-tier opaque shade. Adds distinction to any room. SAVE $4.07! Ready-To-Paint CHEST Regular 21.95 5-Drowcr $1788 Charge It Sanded, ready to finish. Save Now! HUGE SAVINGS on SLIP COVE daveno-bed slip covers usually 19.98 Q8 Chorge It en SRC CHAIR & DAVENO Covers Choir 13.88 Sofa 26.88 Wing Chair 8.88 It's almost magical the way these well-fitting covers beautify worn sofa beds. And they need not be removed to open the bed. In print or woven patterns. Cord welted seams and neat tailoring. "SaZotySzctfa pucmrtZkdoT, yom money Jac $fj$ II t 0l Hn W II II UrUh: II SAVE $87.00! 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Foro, Desj,n II I I ttnool U ZS 35x30" , J II OO 36x35 HWW Charge It on SRC 84x78" Reg. 13.98. NOW .... 9.83 100x84" Reg. 17.98. NOW 14.88 148x84" Reg. 28.98. NOW 23.88 133 So. Eighth SHOP FRIDAY Phone TU 2-4481 'til 9 P.M.
