Image provided by: University of Oregon Libraries; Eugene, OR
About Herald and news. (Klamath Falls, Or.) 1942-current | View Entire Issue (Jan. 11, 1960)
HERALD AND NEWS, Klamath Falls. Ore. Moiiflav. January 11. 10(50 PAGE FIVE Income Tax Facts Editor's Note: This is one in a scries of articles on federal in come tax filing. These articles are based on information provided by the American Institute of Certified Public Accountants and the South ern Oregon Society of Certified Public Accountants in cooperation with the Internal Revenue Service. THE HOME AS INCOME PRODUCER If you rent all or part of your home, the income you receive is taxable. However, the government Is only interested in taxing the amount you gain over and above your expense for maintaining the lodging. You can save valuable tax dollars be being aware of the1 expenses you can deduct from the rent you receive. Assume that you own an eight Sloganeer Has No Peer; He Likes Ike i NEW YORK (AP) He dubs himself the "sloganeer without peer" and he doesn't care who , the next U.S. president will be ' because his business is buttons ', campaign buttons. ;' Buttoneer Emanuel Ress has : made millions of campaign stick- ', ers, labels and buttons since going into business in 1947. Probably his ' most famous slogan was "1 Like i Ike," which he says he created ; long before President Eisenhower was a candidate. Ress' latest button baby was un- veiled Thursday for Vice President Richard M. Nixon's campaign. "Nixon Man of Steel," it reads. "I really like that and so do the vice president's campaign peo- pie," said Ress. He said he offered , the slogan to the Nixon camp after he learned of the vice president's v participation in settling the steel industry dispute. A presidential election year is 2, always a busy time for Ress and his slogan-makers. Here are some i of his latest offerings: "We need Adlai Badly" or "Two strikes are not out I'm for Adlai" (Stevenson); "I'm for Stu, are you?" (Sen. Stuart Symington); JJ "Who But Hubert" (Sen. Hum- phrey); "Back Jack" (Sen. John F. Kennedy); "LB J All the Way" (Sen. Lyndon J3. Johnson); ' Nothing Finer than Meyner" sir (New Jersey Gov. Robert B. Mey 1 tier). At least one of Ress' candidates J already has withdrawn from the race. And what do you do with J a room full of 'Who Else But Nelse?" or "Roll With Rock" but l tons? "They will be paid for, I'm not J, worried," said Ress, referring to New York Gov. Nelson A. Rocke- feller's withdrawal. Ress, a 52-year-old native New , Yorker, got into the business by accident. He worked as a volun- teer on the 1940 Wendell Willkie campaign. And when his job in a Wall Street brokerage firm r- ended he was hired by the button- Z making company which supplied Wilkie's backers. When he got out . of the Army he started his own business. Ress believes that wearing a campaign button is "showing a badge of courage, showing what ft camp you re in." What is sloganeer Ress' person- al politics? "I don't care who wins," he said. "My business is buttons." After a pause, he added: "But I like Ike." room house. Since you only need six rooms, you decide to rent the other two rooms as a furnished apartment. You will now have two kinds of deductible expenses, those expenses that apply to the house as a unit, and those expenses that apply particularly to the apart ment. As a home owner, you can de duct any property taxes you may have to pay. You can also deduct the interest on a mortgage. This is true whether you rent part of the house or not, but there arc some additional deductions you can take from the rent you receive or the two rooms. You can deduct such items as insurance, repairs. collection fees, depreciation, and brokerage commissions. But re member, these deductible ex penses must apply directly to the two rooms you are renting. In oth er words, if you make repairs tu the whole house you can only deduct from rent income the cost of repairs applicable to the two rooms being rented. If you supply any utilities such as gas or electricity to your tenant without making a separate charge you can deduct a portion of the amount you pay for these utilities from the rent you receive. Income from renting all or' a part of your home should be re- ported in Schedule G of Form 1040. However, if you perform any substantial services for your tenant, then the rent becomes busi ness income and should be re ported on Schedule C. For exam ple, you may be supplying hotel- type services such as breakfast. laundry or cleaning. If such is the case, then you are actually re ceiving payment for the use of both your property and your services. In effect, you are in the hotel business and must report your in come as business income. If you can show that it is neces sary for you to work at home as a part of earning your income from a business, profession, or job, you may be able to deduct a por tion of your household expenses as business expenses. It may be that you use a room as an office. You have equipped it with a desk, a couple of chairs or other materials for perform ing your work. You can deduct a portion ot the following expenses as legitimate business expendi tures; depreciation of your home heat, light, insurance and so on You can also deduct any portion of your telephone bill applicable to your business affairs. If you happen to be renting your home from someone else, you can- net deduct an amount for the depreciation of the house, but you can claim a share ot the rent you pay as a deduction. . Some of the expenses for your home :.office are fully deductible. These are- expenses that relate exclusively to your business, such as supplies, postage, depreciation of your office furniture, and so on. Whether you are renting your home or using part of it as an of fice, remember, to keep records of as many of your expenses as possible. Although you are entitled to deduct the expenses discussed in this article, the Internal Reve nue Service may ask for an ex planation of some of the items you deauct. It pays to have whatever information you can gather to support the expenses you claim You can get additional informa tion on deductible expenses from the free instruction booklet issued each year by the Internal Rove nue Service. A copy will be sent to you together with your income tax forms. Ike Proposal I To Set Mark TRl lill II HI Hi I I'JHl IHTM 111 IHPUji II Hn iff khP C iMafcy ", Im. T.M. (. U S. Pal. OH. " ' Bad Boy Of British Politics Finds Most People Love Him LONDON (Al')-Ancurin Bevan. the Peck's bad boy of British poli tics, has learned in illness that most everyone loves him after all. The 62-year-old fighting Social ist, with his keen sense of irony, must find some humor in the situ ation as he stares at the ceiling in his room at London's Royal Free Hospital. He underwent a major stomach operation Dec. 29. In the hidebound London clubs where the mere mention of his name touched off apoplectic rages there are references now to "Good old Nye." Get-well notes keep pouring in on him from Conservatives as well as Laboritcs. Men who have clashed with Bevan for years in (he House of Commons openly ex press relief as the medical bulle tins indicate he is recovering. Queen Elizabeth II and Prime Minister Harold Macmillan sent messages of encouragement and asked to be kept informed of his progress. The fiery Welshman's absence from the public arcan even temporarily brought home to po litical friends and foes alike how much color and drama he lent to the scene all these years. Only Sir Winston Churchill can be com pared with Bevan in that respect, and Churchill at 85 now takes no part in debates in the House of Commons. Bevan is still a full blown So cialist. His beliefs still stir up con troversy even within the ranks of his own Labor party. But he is not regarded as a party rebel any more. The left wingers Bevan once led have launched a new attack on moderate Hugh Gaitskell's lead ership of the party. Bevan has not committed him self to this movement. On the con trary, as deputy leader of the par ty he protected Gaitskell at the I Laboritcs' convention last Novem ber by niuking a crafty speech which headed off a split on doc trine. Bevan has been the bogey man of British Conservatives and many American officials for so long it is hard to visualize him as a sort ul senior statesman. The U.S. Slate Department pro fessed complete neutrality in the British national election last au tumn. And yet, even 3.000 miles away, it was almost possible to hear the sighs of relief in Wash ington when Macmillan's Conserv atives won. A Labor victory would have put Bevan in as foreign secretary, brought about a complete reap- FREE VACATION TRIPS To Hollywood, Rosa Bowl 9 o m Disneyland, Palm Springs and Las Vegas. Call TU 4-8484 Evenings praisal of the intimate relation ship between London and Wash ington and possibly added new strains lo the NATO alliance. People 60 to 80 APPLY For Old Line Legal RESERVE LIFE INSURANCE If you arc under 80. you can slill apply for a $1,000 life in surance policy to help take care of final expenses without burdening your family. You handle the entire trans action by mail with OLD AMERICAN of KANSAS CITY. No obligation. No one will call on you I Tear out this ad and mail it today with your name, address and year of birth to Old American Insurance Co.. 4900 Oak, Dept. L13GB, Kansas City, Mis souri. ADV. "Of course I admire your taste in music, Fattier, only waltzes aren't music!" Manville Rites Hit Snag HOLLYWOOD (UP1) Anita Roddy- Eden, ninth ex- wife of Tommy Manville, today faced le gal problems that threaten her current marriage for her failure to establish Nevada residence in divorcing the playboy four years ago. Miss Eden disclosed Friday she also was threatened with perjury charges and has been paying blackmail to someone in New York for the past two and a half years in connection with the resi dence question. She said her husband, actor John Sutton, prompted her to 1 I Basin Briefs Merrill VFW Auxiliary will spon sor the showing of a cancer film at the Merrill Elementary School on Wednesday, January 13, be ginning at 7:30 p.m. Dr. Frank E Trotman will be present to answer any questions. The public is invit ed to attend. Mrs, Garwood Walp of Merrill was a surprised guest at a coffee hour held at her home on Thurs day morning. A dozen neighbors took the occasion to extend best wishes to the Walp family who re cently moved into their newly-constructed home. SU Augustine's Altar Society, Merrill, will have installation of of ficers and business meeting on Wednesday, January 13, at the par ish hall. A potluck luncheon will begin at 1 p.m. NEVER AGAIN LONDON (UPI) George Gos telow. 24. caught in his first at tempt at blasting open a safe, was asked in court Friday if he would try again. "Never no more. It was my first time. I was blown right across the office," replied Goste- low. disclose the legal entanglements after he intercepted a blackmail note last month. She said it was the first he knew of the situation 'We have got to clarify this thing," Sutton said. "One can t go around not knowing if one is married or unmarried. Something must be decided." The actor said he planned to meet with his attorney, Rexford Eagan, this weekend to decide a course of action. "There is only one issue," Mrs Sutton said, "my marriage to John. I don't want anything from Tommy. I'm paying heavily for what 1 did. But we were trying to meet a deadline of Sept. 15 1935 lo which Mr. Manville had agreed for the decree." Mrs. Sutton said she received the decree Sept. 13, 1955, but had been in Hollywood up to Sept. 11 She revealed she had not been in Reno for more than a week at a time on any one occasion during the residence period. "I've been warned that I can be extradited to face charges in Reno over the matter," she said. Perjury charges are also a pos sibility if the decree is challenged she added. Mrs. Sutton said she was in Reno last week in an attempt to "establish quietly a valid resi dence period" but left Friday night after talking to Manville ever the phone for the third time She said Manville told her "his New York attorney is attempting to have the district attorney in Reno prosecute me on perjury charges." Concerning the blackmail pay ments, the attractive former sing er said only she had no plans to seek action against anyone. Manville told a Los Angeles newspaper (Herald-Express) in a phone conversation from New York his attorneys advised him he was legally clear to go ahead with his 11th marriage to a White Plains, N.Y. waitress, Christina Erdlen. Raikal Lake, in Siberia, with a maximum depth of more than 5.400 feet, is the deepest fresh water lake in the world. NR0LLN0W! WASHINGTON (AP) - About S'4 billion dollars a record will be proposed by President Eisen hower in the next budget for the Department of Heath, Education and Welfare. This was learned Friday from an informed source. The President said in his State of the Union Message Thursday that his budget for the 1961 fiscal year, starting in July, would pro pose higher expenditures in every major category of health, educa tion and welfare except one. The budget is to be submitted to Congress Jan. 18. For the current 1960 fiscal year, Congress provided $3,446,227,081 for the department. The exception, the informed source said, is federal aid for schools in areas where there are large concentrations of federal employes. Eisenhower reportedly will renew his plea to Congress to limit this aid to responsibility for children of parents who live and work on federal property and pay no local .taxes. lay 1 1 -au dwt Dance Sjlidi IWINEMIA IHI0irCIL KILAMAIrirtl FAIL IL Si 10 NIXON TO SPEAK I SOUTH BEND, Ind. (UPD- Vice President Richard M. Nixon : will receive ,the seventh annual i Patriotism award from Notre Dame University's senior class next month. Nixon also will de I liver an address at the school's traditional Washington's birthday ' exercises Feb. 23. iMIIEIDIFipilRID NEW CLASSES Starting In... ADULT BALLROOM DANCING. BALLROOM CLASSES FOR SCHOOL CHILDREN AGES 11 to 16. i Hour Instruction Period Practice Periods Latest Dance Steps Taught Make Your Reservation Now! Classes Start 2nd Week of January KINDERGARTEN CLASS HAS OPENING FOR FIVE STUDENTS Doncing, Music, Rhythm Exercises Along With Pre-School Studies. FREE Transporta tion In Our Special Volkswagen Buses. University Trained Instructors Don't Defay...Call Today! WINEMA HOTEL - -TU 4-4181 OR MRS. HARRIET LeCours - TU 2-3244 THURSTON DANCE STUDIO "IT'S EASY TO BE A GOOD DANCER" Impala Sport Coupe -one of Chevy's 18 fresh-minted models for '60. Sn The DntiJi Short Chtvy Show In color Sundays. NBC-TV... rbi Pit Boon Chevy Showroom wtikly. ABC-TV. !mS5Wt0W -.gg$- -':: 'bT X"""f w..li.wwrw. x. m u)oMw,fl Factories are turning out more new Chevrolets every day. More proud new Chevy owners taking to the road. Now's the time to see your dealer for fast delivery and a favorable deal! engine that won its class in the latest Mobilgas Economy Run. Coil springs at all 4 wheels for the kind of silent, satiny ride you'd expect only in the most expensive makes. The pickings couldn't be better. All 18 of Chevrolet's sizzling new models for '60 are now rolling off the assem bly lines again in greater numbers than ever before. Your dealer's waiting with all the details, including a long list of pluses that will prove to you the only way to buy a car for less than this low-priced Chevy is to buy a lot less car: Roomier Body by Fisher with a 25 smaller transmission tunnel for more foot room. Pride-pleasing style combines good looks with good sense. New Economy Turbo-Fire V8 gets up to 10 more miles on a gallon. Widest choice of engines and trans missionsno other car gives you a choice of 24 power teams to satisfy the most finicky driving foot. Hi-Thrift 6-the '60 version of the Quicker stopping Safety-Master brakes built with Chevy's ever faithful dependability, they deliver surer stops witn less pedal pressure. Now fast delivery, favorable deals! See your local authorized Chevrolet dealer. DUGAN-MEST CHEVROLET COMPANY 410 So. 6th St. KLAMATH FALLS Phone TU 4-3101 LOOKING BACK? ... OR LOOKING FORWARD? ' ' In 1959 ' 1 1 1 ( ' Look forward to freedom J of hand- " I from the sink and dishcloth " Ml U in' I960! If you spent 400 hours ! at the gruesome chore washing dishes ... f2ii- GET AN ELECTRIC DISHWASHER - and watch this disagreeable task go down the drain automatically! See Yoor Favorite Ct0u Electrical league Dealer IHff MTf CV 'f. kiTM vans .
