Skip to main content
The largest online newspaper archive
A Publisher Extra® Newspaper

The Cincinnati Enquirer from Cincinnati, Ohio • 40

Location:
Cincinnati, Ohio
Issue Date:
Page:
40
Extracted Article Text (OCR)

THE CINCINNATI ENQUIRER Thursday, March 1962 Your Income Tax Page 40 All Persons En titled To Deductions On Tax WHILE there are certain dollar limits on itemized deductions, these are quite generous. The standard deduction, on the other hand, Is limited to $1000 if you are single or file a Joint return, If husband and wife file separate returns, the standard limit for each Is $500. Fourth Of A Series religious, charitable, educational, scientific or literary groups, but NOT including political or propaganda organizations or labor unions. Contributions may NOT exceed 30 of your adjusted gross Income and, in some cases, 20. Interest Interest paid on a home mortgage, bank loan or personal debt.

On installment purchases, figure out the average unpaid monthly balance during the tax year and deduct 6 of that amount as interest, provided carrying charges totaled Ht least that much. Medical and dental expenses First, put down the cost of drugs and medicines exceeding 1 of your adjusted gross income, then add the total amount paid to doctors, dentists and BY FRANK CORMIER AP Staff Writer AT LEAST 10 of your 1961 Income automatically Is beyond the reach of the Federal tax collector. Every taxpayer can claim a standard 10 deduction to cover such Items as contributions to charities, payment of Interest on debts, medical expenses, state and local taxes, etc. You can take the deduction even If vou didn't spend a nickel on any of these items. Many taxpayers actually may claim much more than Wi by Itemizing actual expenses eligible for deduction.

Figure your total deduction both ways and adopt the computation that gives you the largest dollar amount. The standard deduction is 10 of your adjusted gross Income, within trie stated dollar limits. Vour adjusted gross income is total income minus sick pay and certain business expenses. It is the amount reported on line 9 of tax form 1040. If you itemize deductible expenses, the eligible items include: Contributions Gifts to MJ UMlll II 1 1 IS II fill I Mii'MIHI'l mmfmwmm, alive with color y' Never subtle, these blouses -i-fatrSw -decked and plaided ffffTntt forf350'0" z'ncj! Adelaarman- jWWfuTntJ tailors 100 cotton into roll- Sjir sleeve sizes 30-3 8.

POGUE'S I all about knits i Separates actually but (hl I terrifically suit-like in Orion Aft 'IM i acrylic double knit out- jft-j 'jA fj going little separates 't 'HW kindled by stripes, edged jfc.M i I fi in white dreamed up JflA IwreET 3 and paired up by J4 Afri if I -J MlipMiB i navy. Chanel lacket, J' jp 1 2t 34 to 40 12.98 shell, jj i 1'4 I 1 34 to 40 7.98 skirt, fl I hospitals. If the combined total exceeds 3 of your adjusted gross income, you enter the excess as your deduction. The 3 rule does NOT apply to certain persons 65 or older but the 1 limit on drugs and medicines does apply. Also, dollar limits on medical expense deductions start at $2500.

TAXES Most nonfederal taxes such as retail sales taxes, personal property and real estate taxes, state gasoline taxes and automobile license fees are deductible. Water and sewerage taxes and dog license fees are NOT deductible. Casualty losses and thefts Any loss NOT covered by insurance in cases where your property was damaged in an accident or by fire, hurricane, flood or other natural force. Losses from theft are deductible In the year of discovery. You cant deduct for misplacing something.

Child care Employed persons who are widowed, legally separated or divorced may deduct up to $600 for the care of dependents who are under 12 or physically or mentally unable to care for themselves. The care must be necessary to allow the taxpayer to work or seek work. A MARRIED woman may claim this deduction only on a Joint return and the deduction must be reduced by the amount that the couple's adjusted gross income exceeds $4500. Education In some cases, you may deduct expenses for education connected with your Job. The rules and procedures are explained in the IRS Instruction booklets.

Miscellaneous The cost of small tools, safety equipment and special uniforms required In your work, dues to a union or professional society, fees to employment agencies and gambling losses (so long as such losses do NOT exceed your POQUE5 i 1 rrfy XT 1 winnings). Also deductible are most alimony or separate maintenance payments made under a court decree. Payments for the support of minor children can NOT be deducted, even though paid by court order; however, these might give you an exemption if you contribute more than half of the support of a child. The person who receives alimony or separate maintenance payments generally must report these as income. 1,0,0,8,0,, Sportswear, iU 5 II 1 Third LA also Kenwood Vtt 'j 8 income Tomorrow: Your and job expenses.

THOMAS FEST K1 ilP HI Scheduled At Xavier II Mora! Attitudes Is Subject Xavier University's philosophy department will sponsor its annual Thomas Fest on the topic, "Has There Been a Change in the Last Decade in the Moral Attitudes and Practice in the Cincinnati Community?" The meeting is set for 8 p. m. Tuesday In the Kelley Lecture Hall of the Archbishop Alter Building. Principal speakers will be Lt. Col.

Henry J. Sandman, assistant police chief of Cincinnati and chief of detectives, and Frank L. Man-ella, executive director of the Cincinnati Citizen's Committee on Youth. I i I i little priced .5. 98 Never stay-at-homes, "FSgiTw i "--rfTfii 1 1 I -4 slim ana casif 1" 1 Leslie Fay whips up a light, frothy If (V "1" texture knit stunner loomed ll.

rI lHSrCv, of Irish linen blended with rayon Jr 3 jJ TQ" 1 jSfj VtCI sashed with button- I accened bidden I -O'' 1 pockets. Bone and "XT sizes 10 to 20, 29.98. 1 x'Vv. SrTrv Pogue's Misse' Dresses These mobile Margy Jane cotton togs go gardening, marketing, or just about anywhere. Circular skirt converts to piaysuit culotte it ii I walks like pants, masquerades as a skirt.

Pinkorange and bluegreen bubble print in sizes 10-18 and The philosophy department sponsors the Thomas Fest each year in honor of St. Thomas Aquinas, 13th Century Dominican, preeminent Catholic theologian and philosopher. The Rev. George A. Cur-ran, S.J., of the Xavier philosophy department, is in charge of arrangements.

The meeting will be open to the public without charge. Drug Sale Charged To Cafe Manager Russell Fisher, 43, 1718 lh-Uxh. Mot sketched, tuil circle skirt patio dress. Write or call Jane Alden, 381-4700! Pogue's House and Town Shop, Second Floor also Kenwood Trl-Counfy inira noor. aiso 5 Kenwood Tri-County TKt H.

S. Pogue Co- Fourth at Rsct. CincinnaS 2, Ohio Sand ma tha Sun-Ctchar draa at 5.98 aacK Color Style Elmore manager of the Big Apple Cafe, 3711 Cole-rain was charged yesterday with sale of marijuana. Fisher was arrested at the cafe Tuesday night by narcotic squad detectives William Withworth and Elmer Robisch. They said he has been under investigation for six months.

A Federal narcotic agent said he purchased a can of the weed from Fisher for $23 by posing as a user of drugs. The case is scheduled for a hearing today In Police Court. Nanna Street M- City 7an Stat Charga C.O.D. i chack or M.O. Ohio and Kantucity resident please add 31 tlskm sales ta.

On C.O.O. and ufidtr, exclusive of ta, add 3Sc handling charqa. CALL JANE ALDEN, SHOP TODAY 3SM700! Pogu'i teltphon erdtr board is opn 24 hours day aicapt Sunday. DOWNTOWN TO 1:30: KENWOOD I TIM-COUNTY 10 TO CALL JANE ALDEN, 381-4700! Pogue's telephone order board it open 24 houn a day except Sunday. SHOP TODAY: DOWNTOWN 9:15 TO KENWOOD TRI-COUNTY 10 TO 9 VA -fc-t-i-fceA-fcisV-ti -fclL -fc -1 i -1 1 I 4 A frffr fcfttifr 0k.Mm0tki fciJetMI Jfc.tJBHs.iii'.

Get access to Newspapers.com

  • The largest online newspaper archive
  • 300+ newspapers from the 1700's - 2000's
  • Millions of additional pages added every month

Publisher Extra® Newspapers

  • Exclusive licensed content from premium publishers like the The Cincinnati Enquirer
  • Archives through last month
  • Continually updated

About The Cincinnati Enquirer Archive

Pages Available:
4,581,285
Years Available:
1841-2024