Cumberland Evening Times from Cumberland, Maryland on January 3, 1949 · Page 3
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Cumberland Evening Times from Cumberland, Maryland · Page 3

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Cumberland, Maryland
Issue Date:
Monday, January 3, 1949
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Page 3
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Phone 4600 For' a WANT AD Taker EVENING TIMES, CUMBERLAND. MD., MONDAY, JANUARY 3, 1949 THREE Farmers Must Make Payment On Taxes Soon January 15 Also Dale For Many Oiliers To Ante Up On Income By ROBERT E. GEIGER WASHINGTON—W—January 1 an important date 'for farmers It's income 'tax payment day fo most of tliem. : . (It is also one. of four instaltaien payments dates for millions o clher persons who were required t file declarations of estimated in come for 19-J8.) Farmers axe the only group o taxpayers permitted to wait until alter the end of the year to fil taeir declaration of. estimated In come for that • year. At the sam time, having waited and 'not havin' made any previous installment pay ments, they .have to pay all their estimated 1948 tax In a lump SUE by Jan. 15. Can Wait Until -March Uncle -.Sam then permits tb fanner to 'wait until 'March 15—lift everyone else—to file his income t'a> return and. settle up any'differenci rot accounted for in the Jan. 1! declaration and -payment. However, if the former choose to file 'his regular income, tru return and pay up the amount du( on or before Jan. 15, he is al washed .up -aith his income tax •worries lor the year and doesn 1 have to file..a declaration at all. If the farmer's business year doe: not start Jan. I, then he can wal until 15 days after the end of hi. business year to file his declaration of estimated income and pay the amount estimated to be due. And he has two. and one-half months in which to file his final return and pay any difference between that and the amount paid with his declaration. But again, if he tiles Ills return and pays his tax within 15 days after the end of his business year, he is all finished with the problem and. doesn't have to iile a declaration. , Tax. Law Clianjjcd Since most fanners operate on a calendar year basis, however, Jan 15 is the big date for them, anc thh year it h&S' extra 'importance because of changes in the tax law Important changes include these: L The Internal Revenue Bureau has new rulings concerning sales of livestock", considered capital assets. 2. The new "split income" clause allows a husband and wife to split their combined' total 'income, frequently reducing the tax. 3. Personal exemptions, have been Increased from $500 to $600; persons over 65, and blind- persons, are allowed an additional $600. 4. Taxpayers irrtth income of more than $5,000 now may enter a. deduction equal to 10 per cent of their income, up to'1,000, for such things as interest, contributions taxes and other deductable items: They may' do this without itemizing deductions. Heretofore the limit -was -$500. (They still may list eductions and claim the full allow amount If this is greater than 10 per cent). Hfew'* .what .tho ,"«pUt income" dsnso does i ( Kay Divide Income JL husband and. wife may divide their, total income^ .They can do thli even if nil the earnings are la the husband's name. They also may add their incomes together if the wife corned some money and the husband earned some. 1 For instance, a .farm couple may nod all together all the profits from their farm.'"Then, they-may spilt this profit and file a joint income tax return, showing the .wife earned half of the profit and the liusband hair. Income tax experts say in. most cases this •will reduce the total income tax payment. The tax table for automatically computing payments on income o" less than $5,000 shows this: If the tax on $5,000 income is figured on the basis that it • all •was earned by one married person (witii two exemptions) the total tax is 5579. But if the tax Is figured on the "split .Income" basis the tax is $5« —» saving of $35. Tie savings increases - in some cpper brackets. For instance on a 57,000 Income it may be around $100. Tax experts say if a husband and Trlfe have unusually heavy deductions for medical expenses, .it. may be better not to file a joint re-turn. It may pay to figure it both wnys. then choose the Jesser tax. Barbers Union Will Install Tomorrow Local 314, Barbers Union. AFL, •will install officers tomorrow night at Allegany.Trades Council Hall. The appointment of, two committees will. follow Installation. They are the Legislative and Finance groups. Delegates to the Trades , Coundl also will be named. The business session will be followed by a buffet supper. Officers to be installed arc: , Boy C. Wilson, president; Graham Shufcr, vice president: Fred B, Driscoll, secretary-treasurer; Rixy Klnc. recording secretary, and J, C. Swnin. guide.. , One Enlists In Army, j Two Join. Air Force Two area youths have enlisted in the Air ?orce and one in the Army at the local recruiting office, Lt, George J. Gocke, officer in charge. has announced. Air Force enlistees are James ew McMorran. 19, Frostburg; aid Edward Andrew ClarJcson, 17. Duane Alvin Trenum, 17, Westcm- port, enlisted in the Army. Maryland PTA Board To Meet In Baltimore The Maryland Congress of Parents and Teachers will be held January. 12 and 13 at Baltimore with plans for institutes in various counties made. Mrs. Robert G-. Doty, this city-, councilor. Trill assist in the planning. State chairmen will also present their, outline, of. work for the next thrcV years-for approval. . Fish are. growing twice as fast as normally ..in an enclosed salt-water eco in the west of Scotland. The sea being fertilized with sodium and phosphates to increase the growth of the small plants along the ocean bed, on which the flsh fecc!. You']] ^f i^^J*^^ t • ' • . • Discover a Gold Mine of White Goods in the Valley of Low Prices! ( , "BELMAR" QUALITY MUSLIN SHEETS 81 BY 99 INCHES 81 BY 108 INCHES Be here early Tuesday morning and stock up with these strongly 'constructed, long-wearing muslin sheets. Buy in quantity at these : low prices! 42" BY 36" MUSLIN PILLOW CASES ... 44c THIRD FLOOR'. BATH SIZE TURKISH CANNON TOWELS Choose from solid colors and striped- or checked patterns in rose, green, gold, blue, ipeach or grey. Stock your linen closej . now • with these strong absorbent towels. Wash Cloths G for %c THIRD FLOOR 44* ALL LINEN STEVENS "P" TOWELING MaJce your own kitchen towels from our famous all linen crash toweling, no'.ed for long wear and absorbcncy. Red, blue and green borders. THIRD FLOOR YD. REGULAR 2.75 54 BY 54 INCH LUNCHEON CLOTH Exquisite patterns in red. 'green, gold, blue on white mummy weave cloth. Guaranteed colorfast. A special'buy .for this event! THIRD FLOOR 1.64 SINGLE SIZE FULL SIZE MATTRESS PADS Protect-your valuable bedding with our closely quilted mattress pads . . . filled with new sanitary cotton, covered with sturdy white cloth. Edges are strongly bound. .THIRD FLOOR 3.37 BY-THE-YARD! FAMOUS <HOPE"MUSLIN 33* YD. i famous "Hope" muslin by-the-yard for baby dresses and numerous household uses.' All white . . . free from filling with a fine soft finish. THIRD FLOOR ~'-^S~?. • .^' x ( *' * ^r? : o V- V. FULL SIZE SINGLE SIZE MA TTRESS COVERS Full and single size mattress covers or sturdy muslin . . . generously cut to fit standard mattresses. Taped edges lor long wear. ; . THIRD FLOOR 2.69 TODDLERS' DRESSES (Sizes 7 fo 6x) REG. 1.98 VALUES TO 3.98 . I. VALUES TO 5.98 . VALUES TO 10.98 SECOND FLOOR 3.99 CHILDREN'S DRESSES (Sizes 7 fo 14 and 8Y 2 to UY 2 ) VALUES TO 3.98 s VALUES TO 7.98 I SECOND , FLOOR

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