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About Herald and news. (Klamath Falls, Or.) 1942-current | View Entire Issue (Jan. 26, 1961)
i They'll Do It Every Time By Jimmy Hatlo N' I Zl'LLTAKB ") ONE OP TWEM A SHOVEL AND V-SSSS1 EWT.TWE fV scoops 'E.lP; HARDWARE , JT VCS5IfZLiTlfdVv MAM, DOES A VVCVS Vl NEWT- JmeN!! jHI , MOW'S HIS OWN SIDE WALK? WELL, HE'S SO BUSV HE WASN'T COT TIME TO CLEAN IT-- THE HXTIO HAT io WILLIAM P. KERRIGAN. 32SlV.ClUMPtOSTO) FOURTH IN SERIES . . . Secret To Trimming Your Tax Is In Knowing All Deductions Editor's Note: This is the fourth of five dispatches on how to file your income tax without paying more than required to. Today's dispatch covers allowable deduc tions. - By EDWARD COWAN WASHINGTON tUPP-Tho se cret to trimming yourfcderal in come tax is knowing what de ductions you can take. you are claiming all the deduc tions you are allowed is to pay close attention to what is deduc tible and to review your 1960 ex penditures. (Sume people keep a running account all year rather than risk forgetting something at tax tiling time.) Tree Sale Program To Be Given HERALD AND NEWS, Klnmalh Falls, Ore. Thursday, Jauuary 26, 1961 PAGE 5-A (We'll discuss what is deductible in a few paragraphs.) Then put the list away for a few days out of sight but not out of mind. See if you recall any other deduc tible expenditures you had. When you have jolted down all the individual deductions you can three elect to claim the standard deduction of 10 per cent of cross me government allows' you to income. As a rule, the way to dc sublract from your income forleide which is best for you is to tax purposes expenditures of i figure out with a pencil and pa- une taxpayer in tnree takes' think nf iml thPm im and if itemized deductions. Two out of the sum exceeds 10 ner cent of many kinds. There is no single formula covering what is deduc tible, although there are several general categories of deductible expenses. per whether your itemized deduc tions would exceed 10 per cent of your income. Sit down with your records and checkbook stubs and list every- So, the best way to make surd thing you believe tax deductible. BASIN BRIEFS BONANZA their first granddaughter born to MARCH OF DIMES fund will! Mr. and Mrs. Ronald Chance on be sent to the Sacred Heart Hos pital in Eugene in the name of Patrick Hughes, son of Mr. and Mrs. Dean Hughes of Bonanza. Anyone wishing to donate to the March of Dimes may leave mon ey with Mrs. John Brown, Mrs. J. E. Baldock or Lorella Store before Jan. 29. CHII.OQL1N DRIVERS LICENSE EXAMIN ER will be on duty in Chiloquin Thursday. Jan. 26, at the city hall between the hours of 9 a.m. and 4 p.m. SUMMER LAKE MR. AND MRS. GUY FOSTER attended the golden wedding cele bration of his brother-in-law and sister, Mr. and Mrs. Carl Ewing, in Portland Jan. 29. MR. AND MRS. BOB PEN1NG TON are the proud parents of a son, Laurence Robert, born Jan. 18 at Albuquerque, N.M. Mr. and Mrs. Jess Penington are the grandparents. MR. AND MRS. DEAN CAN NON and family recently visited Mr. and Mrs. Lee Verley in Adel. MERILEE PIKE of Paisley was a weekend guest of Linda Pening ton. MR. AND MRS. H. C. HARRIS attended the meeting of Klamath Production Association in Klam ath Falls Saturday. BILL SMITH, Darwin Mosier and Delmar Hand and their fam ilies recently hunted arrowheads in Warner Valley. SANDRA BRANCH, graduate of the Lniversity of Oregon School of Nursing, spent last weekend with her parents. Mr. and Mrs. John Branch, Paisley. MR. AND MRS. JIM CHANCE have received word of the birlh of your income. If H does not, you probably would be wiser to take per cent. Otherwise, itemize your deductions. If you itemize, you must use Form 1040 or Form 1040W. You may- not use Form 1040A, the punch card popularly called the "short form." There is a $1,000 limit on standard deductions. In filing a joint return you can deduct the eligible expenses of both husband and wife. You may not include expenses of your de pendents which they paid out of their own funds. What is Deductible? Biggest sources of deductions Jan. 12 in Lincoln. Neb. She has I for most families are interest on been named Joanne Ruth and!1'0 mortgages and medical Representatives of Rogue Riv er, Fremont, Deschutes and Ump qua national forests and of Bureau of Land Management offices in Lakevicw and Mcdford are ex pected to attend a no-host dinner meeting for government timber selling agencies in the Wincma Hotel here Monday, Jan. 30, be ginning at 7 p.m. Cocktails will be available at 6:15 p.m. Dinner will be served at 7 p.m. and a meeting will follow. Government representatives will present their timber sale plans for the coming year, including sales in Klamath Indian Reserva tion lands, being purchased by the federal government and being add ed to the national forest system. Timber sales normally processed from reservation lands have been withheld during the past few years due to termination proceed ings. , Forest industries in the Klam ath Basin, which contribute a substantial portion of the Ba sin's economy, have suffered con siderably due to shortage of tim ber created by withholding the sustained yield annual cut normal ly available from Indian lands, say foresters. All economic activities of the Basin will be directly and indirect ly affected by the sale program to be announced during the meet ing. Reservations should be made no later than noon Monday. The meeting should begin at about 8.0 ,he ome of Pec 0.Nei near p.m. inai announcement is iur H M 'i c& J ft 'ck 111 ci Russian Production Jumps MOSCOW (UPIi-Soviet Indue-1 trial production increased 10 perl cent in I960, almost 2 per cent more than planned, the cabinet reported today. The Central Beard of Statistics1 said the nation's gross Industrial production has grown 22.1 per1 cent rather than the planned 17 per cent, during the first two years of the current seven-year plan. The figures, quoted by the offi cial news agency Tass, said So viet planners had counted on an 8.1 per cent increase in industrial production in 1960. "All union republics fulfilled the annual program both with regard to the gross output and the ma jority of most important prod, ucts," Tass said. Although farm statistics report ed here recently have been un usually gloomy, the report said (lie Soviet Union surpassed the United States in production of both butter and milk in 1960. ' It said the U.S.S.R. produced 01.5 million tons of milk and 848.000 tons of butter, compared w ith American figures of 56.9 mil' lion tons of milk and 665,000 lonx of butter. The report gave these other figures tor I960 Soviet agricultur al and industrial output: The value of industrial prod- ucts manufactured during the first two years of the plan surpassed planned totals by 11.3 billion new rubles. THE TOAST OF THE ROCKY POINT area is this fire truck purchased recently bv reti. k dents and property owners there. The truck and volunteer firemen saved a home Wednesday morning. Rocky Point Firemen Get First Call ROCKY POINT-Rocky Point Community Fire Department vol unteers rolled on a real fire call for the first lime Wednesday shortly after midnight. Firemen were called at 1 a.m. "DENNIS THE MENACE" nished for those who want to hear plans to be announced, but who don't care to attend the dinner. similar weighed 6 lbs., 1 oz. Her mater nal grandparents are Mr. and Mrs. Veil Hcseltine of Bonanza. MR. AND MRS. WESLEY HAS- KINS are the parents of a baby girl, Lori Anne, born Jan. 16 and weighing 7 lbs., 12 ozs. MR. AND MRS. LOUIS WITH ERS made a business trip to Klamath Falls last week. FORT ROCK CLINTON PERRY has enrolled in Central Oregon College in Bend. He is a 1959 graduate of Lake vicw High School. MALIN MR. AND MRS. RODNEY LYON are receiving congratula tion on the birth of a baby girl, Michelle Rene, born Jan. 13 and weighing 6 lbs., 10 ozs. MR. AND MRS. ELC1E ROB- payments. Interest payments: . All kinds are deductible. To compute install ment purchase carrying charges, a kind of interest, follow this formula: Take the amounts you owed on the time purchase at the beginning of each month lastl year; add these amounts, divide by 12 and take 6 per cent of that figure. That is your deduc tion provided it docs not exceed the total carrying charge for the year. Medical expenses: If you were under 65 at the end of 1960 you may deduct medical and dental expenses which exceed 3 per cent of your income. If cither you or your wife was 65 or over be fore the end of the year, you may claim all medical expenses in curred by you bolh. Pursuant to a 1960 Act of Con gress, you may also deduct this year, for the first time all medi ERTS have returned home after cal expenses of your dependent spending two months in Arizona parents who were 65 or over by and California. the end of the year. In a joint . jrelurn this applies to your wife's MRS. GERTRUDE JOHNSON parents if they were your de- is visiting her sister, Mrs. Ed Godfrey, in Burbank. NEW PINE CREEK ELDER GORDON HARRIS, pas tor of the First Baptist Church, is conducting a series of evangel istic meetings in Prineville. LAIR AND LAYTON GENTRY have recently purchased a home from Homer McLain. JESSE LIGHTLE has been re leased from the hospital and is convalescing at home. MR. AND MRS. JAY HILL and family of Elder Point, Calif.. have recently moved to Willow all ages. Ranch. . pendents and 65 or older. For a dependent parent under 65 the 3 per cent rule applies. Deductible medical outlays in clude payments to physicians, surgeons, dentists. - optometrists, qualified psychologists and Chris tian Science practitioners. Also deductible are expenses for hospital bills, nursing, laboratory services, eye glasses, hearing aids, artificial limbs, ambulance charg es and the cost of transportation to and from a doctor's office or 'hospital. Payments for drugs and medi cines may be deducted if Ihey exceed 1 per cent of your income. This includes drugs for persons of MRS. MAIDA SAMPSON w a s taken to her sister's home in Mcd ford last week. You also may deduct payments for hospital and medical care plans. But your medical expense deductions must be reduced by reimbursements you got from health insurance or sources during the year. Taxes: Most slate and local laxes directly levied on you may be deducted. These include state income, real estate, personal prop erty and state and local sales taxes. You may not deduct fed eral excise, social security or in come laxes: hunting or dog li cense fees, water assessments or auln inspection fees. ' Child care: Costs are ' deduct ible only if incurred while a moth cr was working or looking for a job or by men who are divorced, widowers or legally separated. The child must have been under 12. It he or she is the taxpayer's dependent he need not be a son or daughter. ' Also eligible is the cost of care for any other dependent phy sically or mentally unable to care for himself. In all circumstances a child care deduction may not exceed $600. You may not deduct pay ments to baby sitters you hired so you could go out socially. Contributions: Deductible if they go to religious, charitable, educa tional, scientific or literary organ izations. However, the organiza tions must not be operated for personal profit, not carry on propaganda nor engage in lobby ing in Congress or other law making bodies. Political contribu tions, whether to parties or in dividual candidates, may not be deducted. In general, a deduction for do nations may not exceed 20 per cent of income. But it may go as high as 30 per cent if the extra 10 per cent covers donations to churches and certain tax-exempt hind Tuesday. organizations. Employe exixMises: If you in currcd business expenses for your employer for which you were not reimbursed, or only partly re imbursed, the net cost to you is deductible. To take this de duction you must do two things: (11 itemize all expenses you had, including those for which your employer paid: '2) include his ad vances or reimbursements to you in your income. Education expenses: You may deduct education expenses in- the junction of Rocky Point Road and Lake of the Woods Highway. Fire started by an overheated chimney caused about $200 dam age to Die roof. Firemen said the home prob ably would have been doomed if! the recently-formed fire depart ment had not been available for help. O'Ncil noticed the fire when he stepped outside for wood. He called Ray Biggers. assistant chief, who called out the volun tecrs. Nearly 20 responded. The fire department called the County Fire Department, with equipment in Klamath Falls. The fire was out by the time the coun ty truck and crew could negotiate the 30 miles to the scene. The fire department was organ ized alter fire destroyed Williams Country Store here the evening of Oct. 11. That fire was one, of several during the previous 18 months in this area that had de stroyed $100,000 worth of proper ty, by some estimates. A call went out for volunteer firemen and the organization has about 35. Local property owners donated enough to acquire a fire truck that was used on the fire at the O'Ncil homo. Organizers of (he department still are asking for donations The department needs a small fire hall and a warning system to replace the cumbersome and slow method of alert used at present. aii; y 1 1 to' TT 'Winter sure gets ions when Chwswws is over." Earners Of S600 Or More Must File Federal Return Not So Tough SHIGA KOGEN. Japan AP- Yujiro Ishihara, 25, Japan's lead ing movie tough guy, was laid up with a broken leg today. A girl skier crashed into him from be- currcd primarily to maintain or improve skills required in your present job, business or profes sion, or to meet requirements to keep your present position. The cxcnse is not deductible if its primary purpose was to qualify the taxpayer for a belter job. higher salary or new type of work or to tullill his general educa tional aspirations. (Next: Payments and deductions on interest, dividends, sick pay and taxes.) Every citizen or resident of the United States, including minors. who had a gross income of $600l or more in iutu, must nie a ica cral income tax return on or be fore April 17, 1961, A. G. Erick- son. district director of the In ternal Revenue Service reminded taxpayers today. - If the taxpayer is 65 or over on Jan. 1. 1), he is not re quired to file unless his gross in come in 1960 was at least $1,200, Erickson said. He added that even though a taxpayer is not required to file under these rules, he must file to obtain a refund if any income tax was withheld from his pay Erickson said there is one ex ception to the general rule. Self employed persons must file an income tax return and pay a self-employment tax if net earn ings from self-employment were $400 or more. He explained that self-employed persons are those carrying on a trade or business as sole proprie tors, as members of a partner ship, or rendering services as in dependent contractors. Erickson said the deadline for filing Is April 17, 1961, but he urged taxpayers to fijo as soon after Jan, 1, 1961, as possible and mail their returns to "Dis trict Director of Internal Reve nue lor the district in which they live. Checks or money orders for any tax due must accompany the return and should be made pay-1 able to the "Internal Revenue I Service," he said. Taxpayers who have questions on this subject may obtain Docu ment No. 5107, "Filing Your Tax Return," by calling or writing to their local Internal Hevcntie office, Mr. Erickson said. "If you have any oilier ques tions about your federal income lax rclurn, telephone your local Internal Revenue office," he advised. PEANUT BUTTER ON LIST WASHINGTON (UPP-The Ag riculture Department soon will add peanut butter to the list of foods donated to needy families. The department said Wednesday the step would b taken to com ply with President Kennedy's di rective to expand the quantity and variety of foods in the relict program. LONG SLEEVE Sport Shirts Good Selection of Colors And Patterns SIZES: Small, Medium, Large, Extra Large Values To $6.95 $88 Many Other Items On Sale! 825 MAIN LAVERNE SLUSSER Frigidaire Saleslady Soys: "My customers prefer Frigid oce washers because they foun der with extra core, bothe deep di't out without beoting, and are safe for delicate fabrics." A SWEETHEART OP A PAIR AT f'i '. If A SWEETHEART, OF A PRICE! EidutWt Automata Sk iclmive Sumnrwlt W.ihmi EiehMire Ftewme Ha Four Crete ... 5 Year Vcrn Owens' Cascade Home Furnishings 412 Main Ph. TU 4-8365 TOMORROW, 9:30 A.M. LAST 4 DAYS HUNDREDS OF ITEMS ODD LOTS, SOILED AND OTHERWISE REPRICED TO BE SOLD BEFORE FEB. 1. RUMMAGE TABLES On All Floors HURRr.' HURRY! Excellent Savings! the success look from campus to conference GENTRY' YOUNG CAREER SUITS The fabrics, weaves, colors are '60's newest . . . the silhouette is modern as the man who wears it. Young Career suits are styled with natural shoul ders, ploin front slacks, the extras you look for. You'll see rich blends of Dacron polyester. 'n wool, all wool flannels 'n worsteds. You'll see every weave from hopsacking' to checks to subtle glen plaids! . men's siies regular, short, long $45 1 1 REMEMBER YOU CAN CHARGE IT AT PENNSrG
