The Salina Journal from Salina, Kansas • Page 2

Your Income 2 Use The Right Tax Form Editor's Note it's important that federal income tax payers use the tax return form that fits their situation and income. This article, the second of five, explains that point and several other procedures. By James Marlow WASHINGTON (AP) There are two basic forms for filing your 1966 income tax return: 1040, which anyone can use; and a simpler one, 1040A, the punch card, which only those fitting certain conditions can use. If your taxable income last year was $10,000 or more, you have no choice. You must use 1040.

And, if it was under $10,000, you can use 1040A only if: Your income was entirely from wages reported on W2 withholding statement or consisted of such wages, plus not more than $200 in dividends and interest and wages from which tax was not withheld. Otherwise, even though your Income was under $10,000, you must use 1040. And anyone with $5,000 or more income must figur his own tax from the tax-rate schedule in the instruction sheet which the Internal Revenue Service sends all taxpayers. Easy to Find If your income was under $5, 000 you can find your tax, with out figuring it, in'the taxtable but only if you are willing to accept the standard deduction allowed taxpayers for personal expenses. In some cases the standard deduction is larger than a tax payer's deductible personal expenses actually were.

Some times the opposite is true. If your expenses were more than the standard deduction gives you, you can claim them in full but in that case you must itemize them all to get credit for them. And in that case you'll have to use form 1040 and figure your own tax. Also, you must use 1040 if you are a single person claiming to be "head of household" or a widow or widower claiming to be a "surviving spouse" or if you credit for retirement income or exclusion for sick pay or if you paid an estimated tax in 1966 or claim travel, transportation, moving or other expenses. There are two kinds of standard deduction; the 10 per cent standard anil the minimum standard.

The 10 per cent standard means that, without itemizing or needing to prove anything about your deductible, expenses, you get 10 per cent off your income, up to a limit of $1,000. The limit is $500 each for married persons filing separately. "When Mother Nature lets loose with a tornado she kin still show man a thing or two 'bout destruction." County and Municipal Suppics Record Books Forms Systems 113 N. Santa The same maximum limitations apply to the minimum standard deduction. With the minimum standard deduction deduct $300 for yourself, $100 for each dependent, and $100 for your wife if she files jointly with you or, having no income, she fails to file jointly with you but is claimed as an exemption on your return.

Try Both If you have doubts about which to use, try them both before deciding. Here are some examples of benefits and disadvantages; Jones has a wife, four children, and his income was $6,000. Under the 10 per cent standard deduction he could knock $600 off his income for personal expenses. But suppose he used the minimum standard. He'd take $300 for himself, $100 for each of his four dependent children, and $100 for his wife who had no income but was filing jointly with him.

This gave him a total deduction of $800, which was $200 more than the 10 per cent standard gave him. Now take Smith, with a wife, on child. He also had $6,000 income. He'd get a $600 deduction under the 10 per cent standard arrangement, which would be a lot better in his case than if he took the minimum standard. This is why: Under the mini- Bess Truman Reaches 82 Monday, Feb.

INDEPENDENCE, Mo. (AP) Bess Truman today observed her 82nd birthday anniversary, still as leery of personal publicity as when she was the first lady of the White House. At 82, Mrs. Truman is vigorous and alert. She continues her quiet social life, takes part in women's activities at the Trinity Episcopal Church drives her own car and does her own grocery shopping.

She usually is the chauffeur when the Trumans go out for brief afternoon drives. The former president has made few public appearances since his illness last August. Send your news tip to the Salina Journal $10 in prizes every week. Catalog Department WARD It's New! Ifs Here! It's Better Than Ever! Wards 1967 Spring Catalog at Wards now. It's just arrived, and it's packed with over 130,000 everything for you, your family, your home and your car.

See it, shop it and save! SEE WARDS 1967 SPRING CATALOG SHOP BY PHONE AND CHARGE IT! Shop Early For Easter 131 No. Santa Fe TA 7-0122 Heart Victim Aided by Kaye Monday, Feb. LONDON Danny Kaye stayed up all night on a jet flight to Europe administering oxygen to a seriously ill woman. The entertainer was asked to help when the woman had a heart attack soon after the Trans World Airlines plane left Chicago. Kaye looked pale and drawn when he arrived in London.

The woman, in her 70s, is be lieved to be Hungarian. Kaye came to London to dis cuss plans to appear in a reviv al of Goldoni's 18th-century classic "The Servant of Two Masters" at the Chichester Summer Festival. mum standard he'd get $300 for Mmself, $100 for his wife who had no income but, like Mrs. Jones, filed jointly with her husband; and $100 for his child, or a total deduction of only $500. When a couple files separate returns, if one uses the 10 per cent standard deduction, both must usa it; if one uses the minimum standard, both must; if one itemizes deductions; both must.

And when a husband and wife file separate returns, using the minimum standard deduction, each gets a deduction of only $200, plus $100 for each dependent each can rightfully claim. That instruction sheet which the IRS sends taxpayers has three tax tables for those people permitted to use the table and three tax-rate schedules for those who must figure their own tax. Take the tables first. Table A is for single persons, table for married persons filing jointly, and table for married couples filing separate returns. Table is also for those qualifying as "surviving spouse and "head of Their problems will be explained in No.

3 in this series. In tables A and there is no choice between the 10 per cent standard deduction and the min imum standard deduction. The government has considered both and provided the lowest tax in both those tables. Note that married couples filing jointly, and using table usually get the same or a lower tax than married couples filing separately and using table C. Jut in table there is a choice for those using it between the 10 )er cent standard deduction and minimum standard deduction.

But, of course, the differences between them are already provided for in the table without any work on your part. The only ime you'd have to work out the differences is when, and if, you decided to figure your own tax, using, form 1000. Also note this: The three tax- rate schedules, used by thosa figuring their own tax, do not parallel the three tax tables. For example: Schedule No. 1 is for single persons and married persons filing separately; No.

2 is for married couples filing jointly and for those qualifying as "surviving and No. 3 is for the unmarried or legally separated who can qualify as "head of household." Next: Types of paying groups. 10 Wed. Night Special Ocean Catfish Fillets All You Can Eat Served with 4 Potatoes, Salad, Vegetable and drink. Served 5-9 p.m.

Also Featuring Sunday Luncheon Closed Friday Nights HOWARD JOHNSON Motel Restaurant Highway 81 South Award Galisteo Dam Contract WASHINGTON A $6,605,162 Army Engineer contract to List and Clark Construction Overland Park, for construction work on the Galisteo Dam project, Santa Fe, N.M. was announced Monday by Sen. Frank Carlson, R-Kan. RALPH WEIGEL Bonds Insurance No. Santa Fe Phone TA 7-2906 SAVE and EARN Accounts Insured to 815,000 We Pay The Taxes HOMESTEAD Building Loan 104 E.

Iron Salina, Kansas EAUTY 1 QISE for the Adult Woman New Weekly Evening Class Starting Tuesday Evening Feb. 14, 1967 7:15 P.M, Become a more attractive, more poised woman, more self-assured woman as a model wife, or a successful career woman. Learn the Nancy Taylor way the nationally renowned consultant on beauty fashion for the social or the business world. Brown-Hackle School of Business Send new tips on "How to Discover Your Hidden Name Age Address Occupation There's a bit of the beast in every bug. It doesn't take much to unleash the savaqe furv of a Volkswagen.

Take almost any old VW, replace the body make a few simple adjustments, and you've got a Formula Vee racer. How can a mild-mannered, practical, everyday Volkswagen convert so easily into something so delightfully impractical? In the words of the Formula Vee Internationa! Manual: Volkswagen components seem to have been made expressly for use in a racing car. The engine, air-cooled and mostly aluminum, is light for its power output and already adapted to the rear-engine concept of modern racing cars. Its rugged construction provides a power plant which seems to be practically indestructible, even at racing speeds. costs are amazingly low.

One set of tires will ordinarily last more than a season and one oil change a year is sufficient." It seems that the same things that make the VW a sensible car for people who aren't in any hurry to getsomewhere also make the Formula Vee sensible tor people who are in a big hurry to get nowhere. Holiday Motors Sales VOLKSWAGEN Service AUTHORIZES OCAI.CH 726 North Santa Fe Ken Krutz, Owner 'European Deliveries Available" TA 7-6575 VALENTINE Value Time at ATLAS OPTICAL In Sears Centet Glasses Any Oculists', M.D.,, Optometrist Prescription Accurately filled. THIS LOW PRICE INCLUDES: 1. Precision Ground Single Vision Lenses made to your Prescription. 2.

Lenses Tinted to the Shad you choose. 3. Your Choice of Over 300 Modern Frames, Styles and Colors. 4. A Convenient Carrying Case and Adj'isting Service.

THE FINEST GLASSES Lenses for your glasses are accurately and scientifically ground to your prescription in one of America's largest and most modern laboratories. Over 300 Styles and Colors from Leading Manufacturers from Which to Choose. NO CHARGE FOR CREDIT FRE All Minor Repairs And Adjustments Broken Frames Can Usually Be Replaced At Low Cost While You Wait! OFFICE HOURS: Open 9:30 to 5:30 Monday and Thursday till 9:00 P.M. JL K.7 Optical SAUNA'S LARGEST, MOST MODERN OPTICAL DISPENSARY IN SEARS CENTER TA 7-7757.