The Palm Beach Post from West Palm Beach, Florida on November 14, 1968 · Page 13
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The Palm Beach Post from West Palm Beach, Florida · Page 13

West Palm Beach, Florida
Issue Date:
Thursday, November 14, 1968
Page 13
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I CHECK OUT- - These In Fashions FOR OMEN M jiiii!"tcv i tffjfffssil e " -i iiiTTf -iiii!, '. t ,.:. j' . , i m iiif ,.;f III v'r.. Palm Beach Post, Thurs., November 14, 1968 Bl TRAVEL COAT It's bon voyage for the gal (right) who sets her sails for scenic adventure wearing this navy and white check basket-weave wool coat. A brass chain is anchored gently around the hips to compliment the brass buttons. Buckles are the thing on the shiny patent leather pumps. A chiffon scarf tucked loosely around the neck and white gloves add a very feminine touch to the overall tailored look of the coat. CHECK THE OUT - This all-occasion cotton costume (left) is dramatically styled in a black and white check. The ensemble is accentuated with red banding which serves as a real eye-stopper to passers-by. The dress has an easy moving skirt with inverted pleat to help get the wearer to her destination in fine fashion. The crop jacket is complimented by a small collar trim. The outfit was designed by California Girl. FASHION HOUNDS A fashion whiff of in season costumes leads to Stanley Nelson's Abraham cotton houndstooth ensemble (right). Giant hounds-tooth unleashes on the single-breasted jacket and sleeveless dress. A panel skirt moves out in front of inverted pleats. The costume is available in brown and white or black and white. Tl 1 W rt Hh J L , 1. k va r-- m.- w w wi a, f . -r 1 i m. m m m ii a. I r 1 n "I w f i I jf ' ''"""H'' j CAN'T LOOK - That statue (at left) doesn't know what he's missing by turning his head away. What he's missing is the lovely model in the tailored basket weave cloque jacket dress by Helga. The ensemble wins applause for late-day dressing. Under the short jacket, the shaped dress is squared at the neck. Available in green and white or raspberry pink and white, the costume is banded in solid green or raspberry pink. The statue of marble Is guarding the entrance of the Stratem House, the official residence of Les Dames de Champagne of Los Angeles. CITY GENTRY -For the city and country traveler, a silk tweed box plaid suit (center) by Ernst Strauss Suivante suits is tailored for the woman on the go. In navy and white or brown and white plaid, the three-piece suit is vested in a matching solid navy or brown Irish linen. The longer jacket and flared skirt are great for moving. I -A 1 V t I I f I Mind Your Own Business Here Are Some Tax-Saving Ideas For Investors carry-over from previous years), it could be smart to sell for an offsetting gain. And you could repurchase the security, Immediately if you wished, without tax liability. Or, if you don't want to postpone taking a gain but would like to postpone the tax, you can sell short for the gain in '68 but deliver to cover in '69. In such a case, the amount of the capital gain is fixed as of the date of the short sale, but the gain isn't reported until you cover and 1969 could result in offsetting losses. By PAT MURPHY There's a lot to cram into the remaining 47 days of 1968, not the least of which is paying special year-end attention to your personal business affairs. In this regard, the New York-based brokerage firm of E.F. Hutton & Co. has prepared a new checklist of tax-saving ideas for investors, which we'll pass along in this and the following column. Naturally, specific application would depend upon your own positions. Idea 1 Easing the tax plan of a long-term capital gain. With the surcharge, the maximum effective tax on such a gain is 26.875 percent for 1968 and dips to 26.25 percent in 1969. Even though the effective rate for most taxpayers is somewhat less, the capital gains tax can cause you to think twice about realizing a gain. But if you've sustained capital losses above the $1,000 that you can deduct from ordinary income (including any unused net capital loss Nixon Dubbed Her 'Whirlywind' r "' "i"' "'I tm nmm ii, uiimnn i intaawwiif ' yyiiw - '. i ' ; J Idea 2 And softening the tax jolt that comes with a short-term gain. If you've realized losses, including carryover losses, in excess of the $1,000 that can be used to offset ordinary income, you might want to sell for an offsetting short-term capital gain. This would save you the tax on the offset short-term gain at your top tax bracket and the income tax surcharge otherwise due. Here again, you might want to sell for the gain but postpone the tax until 1969 when, under current law, a lower income tax surcharge will apply. You'd use the same short-selling technique to do so. Idea 3 Separating the wheat from the chaff. If you own securities with a long-term capital loss and have already realized gains, it could be a good time to prune your portfolio, selling to offset your gains and thus save the tax on them, as well as to streamline your stocks. Note that if you sell enough to realize at least $1,000 of losses in excess of your gains, this can be deducted from other income, which saves taxes on this amount at your highest rate. Idea 4 Fishing poor; time to cut bait. If you own securities with a short-term capital loss, you might want to go ahead and sell to offset short-term capital gains. It would save the tax on such gains at your highest rate. And if you've got a full bag of sour lemons, you could go on and take even more short-term losses to offset and thus save the taxes on long-term gains. And, of course, selling for a loss of up to $1,000 in excess of all your gains gives a tax-saving deduction against ordinary income. But beware of the wash sale rule when you take losses. Make sure that after you sell securities at a loss you repurchase substantially the same securities only after 30 days or your loss will be disallowed by the IRS. For that matter, the loss would be disallowed if you had bought substantially the same securities within 30 days before you sold. swered airmail special delivery. "The campaign was very stimulating," commented this New Yorker, a regular Palm Beach visitor for 15 years. Fun was part of the campaign too and Mrs. Myers has glowing remarks about the election parly, except for one Incident which dampened her spirits. Wearing a glamorous new black dress, she was sipping a drink when someone jostled a waiter going by with a large tray of drinks. "The whole tray fell right on me," she exclaimed." "Holy Toledo, and a new dress too." The waiter was so abject she couldn't remain angry, however. "That was one party!" she concluded relishing the memory. Now that the frenetic preelection pace is past the campaign staff can leisurely rest, but she is all set to get started on something new. "I can't stand being idle," she stated speaking with Yankee quickness. With her energy and enthusiasm she won't be idle long. "We had questions about everything, Social Security, Medicare, Vietnam. Everybody thought Vietnam should be finished. Every age group was represented. "We got a lot of letters from old ladles about Social Security and Medicare and a great many letters from teenagers, the younger generation who will be leading the country. Hundreds of letters came from young schoolchildren. The handwriting was something to look at," she laughed. Of course, she admitted, they received many vitriolic letters but answered every one. "I must say I know practically every zip code. We got letters from all over." If foreign countries had zip codes, she would know them too. "We got a flood of mall from foreign countries, primarily about the war," A special last minute vote-getting effort bore the stamp of these letter writers. All the letters received two days before the election were an DIEDRAVAN Dl'ZEE Staff Writer If someone enthusiastically hands you a picture of Richard Nixon and acts like the election Isn't really over, it Just might be Miss Whirlywlnd, alias Mrs. Dorothy Myers. Dubbed Miss Whirlywlnd by Mr. Nixon, she says ardently "1 am still campaigning." A veteran of the I960 Nixon Campaign she was instantly put to work when she appeared at the New York headquarters this year. "He is completely different this time charming, dynamic, stimulating and very dedicated. He isn't the Nixon he was then. The campaign he put on was really fabulous." The New York office received 9000 letters a day. She and about a dozen others analyzed and answered all letters. "Every letter was answered and appropriate literature sent; not one was overlooked. I would come in the morning and have three baskets full on my desk," she said emphatically, her brown eyes heavenward. AH, RELAXATION - Mrs. Dorothy Myers takes a break from the nonstop activity of the Nixon Campaign headquarters in New York.

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