The Courier News from Blytheville, Arkansas on January 2, 1953 · Page 10
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The Courier News from Blytheville, Arkansas · Page 10

Blytheville, Arkansas
Issue Date:
Friday, January 2, 1953
Page 10
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T*K f i4m«r BCYTHEVTLLB <ARK.) COUHHtR HEW! FRIDAY, JANUARY », 195» Self- Employment Tax and Losses from Business • EDITOR'S NOTEt HMC'S the tevwtfa ' at 14 »>Holes IB NEA's Uth annul Income Tax Prime r, impored by a top-notch Washington Ux authority and designed (or BK with the official tax nrt« pamphlet. 1 • • • « , BT KICHARD A. MULLENS NTA Income Tax Expert . ThU article covers two Itoms of Interest to taxpayers with business or professional Income. •It explains the self-omplnyment tout first Imposed on 1051 Income and shows you what to do If your business operated nt a lost*. The self-employment tax Is 2U" per cent of any self-employment income exceeding MOO and not more than $3600. It buys the same social •security benefits that employes get-. The new' tax does not concern you if yott had no income from a partnership, business or profession. And many people with such Income are not Mihject to the tax, Including most professional persons, ministers arid farmer*. A complete list of people and income not subject to the tax Is shown on the back of Schedule c. The tax Itself is computed on page II of Schedule- C. ' No*e that you may havo self-employment Income as a member of a partnership. Partnership Income II- self Is computed on a separate return (Form IOCS). Tills Is an information return which shows how the partnership Income It, divided among the partners. Each partner then reports his share of the come on Form 1040 where It becomes part of hts taxable income. COULD YOU POSITIVELY mi WHO FIlltD OUT THIS IORM? iMp*T | t<com 1952 I/it's assume you have Income for each. . from a business, profession, or part- We hilve a(reidjr apMntA 1957, ing. This can be used to get back the Ux on *«00 of your income In 1951. If there U still come loss left after deducting your 1951 Income, you can use the remainder to apply against Income In 1953 and so on through 1957.' That Is the theory of net operating losses. In practice, some taxpayers may have special circumstances which require adjustments to the losses. If you have a loss, It U advisable to check the computation with your tax collector or tax advisor. ; The next artlck explain* capital Kalns and looses. It will Ull about Ihe tax break for those people who sell thtlr old residence and buy a new nr.e within a year, X08A BAPTIST Key. Jack Mick Sunday School—»:« a.m. Morning Worship—11- a.m. Training Union— 1 p.m. Evening Worship—7:M p.m. Prayer Meeting Saturday night 1 p.m. ncrship and it Is not the'type of income listed under "Exclusions" on the back of Schedule C. Such Income must be entered on the appropriate lines of the schedule. Follow tho Instructions for filling In the rest of the linos and you will arrive at the amount of self-employment tax. Tho tax will never bo more than $81. It will be less If your self-employment Income IB less than $3600 or If you Imd wages from which social security tax was deducted. Be sure to fill out Schedule C-a at the bottom of page 3 carefully and, completely. This Information, establishes your right--, to valuable social security benefits. Note that only one name Is shown on Schedule C-a. If both you and your wife have self-employment tax to pay. use a separate Schedule C and Ca ly how a 1EK£ low front your business or profession could lie applied any other taxable income. llere ta additional information on how Mich a IMS may, also reduce your incom« tax for other years: 'If your business deductions exceed your business income, you have a loss. For example, suppose your total Income In 1052 from a small business was $5000 ami you Imd business expenses of $10,000. You have a $5000 Loss called a net operating loss which can be deducted from any other 1952 Income. Suppose you hnd $1000 other income. This Is offset by your $5000 loss .leaving you with no Income and no income tax to pay for 1052. But that Isn't all the benefit you can get from such a loss. After deducting your 1352 other income you • till have $4000 of the losr» remain- YARBRO MISSIONARY BAPTIST Rev. T. J. Richardson Sunday School 10 a.m. Preaching Service 11 a.m. B.T.U. 6:30 p.m. Preaching 7:30 p.m. Prayer Meeting Wed. night p.m v _ CLEAR LAKE BAPTIST J. E. Cox, Pastor Sunday School, .8:45 a.m. Worship Service, 11:00 a.m. Training Union 7:00 p.m. Worship Service 8;00 p.m. Mid-Week Service, 7:30 p.m. Wednesday. * Tax Primer Q & A — Q. J have to pay a self-employment lax of $81. I did not Include this tax when T filed my declaration of estimated tax for 105Z. Will I he penalized fo'r under-estimating my lax by the ?81? . A. No. Q. I am an employe of Ihe XY Co. I spent 5500 more than I earned In 1952. Do I have a net operating loss? A. No, you have to be In business or suffer a casualty loss to have what is called a net operating loss. Q. I am a member of a partnership thai made money ami filed a return yet paid no partnership tax. How come? A. Partnership Income Is divided among the partners and taxed to them. The partnership only files an Information return. Blyrheville FULL GOSPEL TABERNACLE l.llj uml Vino J. A. Dudash, Pastor 9:45 Sunday School Fay Austin, *uperinteriuent Classes (or all ages. 11:00 Morning Worship. •6:46 P.Y.P.A. nieetu wili president Leon Walden. ' ' . 7:45 Evangcllstlo Service with •ermon by pastor. Tuesday and Friday nights services at 7:45. Tuesday nl«ht Is P.Y.P.A. Night. H11RCBE5 Sunday School Council Supper, i:15 p.m. Wednesday evening following last Sunday of each month. ASSEMBLY OF COD Rev. J. O., Dlcfcrason, PasUr Sunday School 9:45 a.m. Morning Worship 11:00 a.m. Women's Missionary • Council €:30 p.m. Men's Cooperative Council 6:30 p.m. Christ's Ambassadors 6.30 p.m. Junior Christ Ambassadors 0:30 p.m. ' t<: Evangelistic Service 7:SO p.m Tuesday V:30 p.m. Bible Study Thursday 7:30 p.m. Prayer : Meeting. CHURCH OF TUB IMMACULATE CONCEl'TION Key. Amo» Emlcrlln, Pastor Per. J. F. Wcnger • Assistant Pastor Sunday Nfasses, 1:30-10 a.m. Weekday Masses, 0:45-8 a.m. Friday Novans devotions 7:JO p.m. Confessions Saturday 7:00-8:00 p.m. FIRST LDTIIERAN CHUUCH G. Mlessler, I'astor Sixth and Walnut "Moments with God" KLCN each Sunday 3:30 a.m. • Sunday School and Bible Class 10 a.m. Divine Worship 11 a.m. Adult Membership Class, ncsday 7:15 p.m. Wed- FIRST CHURUII OF THE NA7.AKKNK Rev Jne L. Bean, Pastor Sunday School 0:45 a.m. U a.m. Morning Message. 7:30 p.m. Evening Message Nazarcno Training' Union 6:30 Wednesday Nljjht Prayer Mcet- g 7:30 p.m. W.F.M.S. Wednesday afternoon p.m. , Sunday School'Visitation Friday 7:00 p.m. • TKlNITi BAPTIST Rev. David Mcl'cake 9:40 Sunday School. 10:50 Morning Worship. 0:30 Training Union. 1:30 Evening Worship. FIKST MKTI1ODIST Roy 1. Uafflcy, Pastor Cluych School 0:45 n.m. Morning Worship 11 a.m. Youth Choir Rehearsal 6:45 p.m 6:30 p.m. Junior Fellowship fn- termerinte M.Y.F Senior Young People ivf.Y.F. Evening Servico 7:30. After church, fellowship 8:30 p.m. Wednesday choir rehearsal 7:30 B'nal B'rlth Youth Convention. , Wednesday 7 p.m. Supper arid meeting of Men's Lodge aiid Temple Sisterhood. FIRST PRESBYTERIAN CHURCH I)r.» Harvey T. Kldd, Pastor s:« Sunday School. II n.m. Sacrament of the Lord's Supper 7:30 p.m. "Tlie New Bible" CHURCH OF CIIKIST Tommy Mot'hire, Evangelist M&ln and Highway Gl - t Sunday School 9:50 a.m. Morning'Service 10:50 a.m. Bible Classes 6:45 p.m. Evening Service 7:30 p.m. Wednesday Bible Classes 7:30 ST. STEPHEN'S EPISCOPAL William J. FltihllRh. vicar Second Sunday after Christmas 0:30 a.m. Church School 11 a.m. Holy Communion and Sermon. WICST nLYTIIRVIUjR PARISH MKTTIODIST W. W. Peterson, Pastor Wesley Memorial Church Church School 10:00 n.m Sxipt Ben Ray. : Worship Service every and and 4th Sunday. Sunday School 10 n.m. CALyARX BABTIST 15th and Chfckasawba P. H. jcrnlgan. rastor . Radio Program 9 a.m. to 9.30 ' Sunday School 9:45 a.m. Morning Worship 11:00 a.m. BTU 6:30 p.m. Evening Worship 7:30 p.m. Monday WMU 2 p.m. YWA 7:30. Intermediate GA 7:30. Wednesday Junior GA 3:45 Choir Rehearsal 7 p.m. Wednesday Prayer Meeting 8:00 FIKST CHRISTIAN C1IUKCH Rev. James W. Knimvntcr Main and 6th Street 9:30 a.m Choir Practice. 0:30 a.m. Sunday School 10:50 a.m Morning Worship . Chi Rho Junior Senior suppei «:00 p.m. Program 6'.30. , Wednesday Choir Rehearsal 7:30 p.m. TEMPLE ISRAEL Dr. Alfred Vise, rabbi Sunday 10 a.m. Sunday School and Assembly. 8 p.m. Service with report on CHURCH OF GOD. ZOth and Cherry Rev. Barrel Promt, Pastor Saturday night 'services 7 p.m Sunday School 10 a.m. Morning worship 11 a.m. . k . Sunday Evangelistic Service ' p.m. FIRST GIIACB C11UKCH Hev. Bub Petruvich. Pastor Sunday Ejchool 9:45. Worship Service 11 n.m. Youth Fellowship 7 p.m. : CrATEWAY TABERNACLE 'Carl Denny. Pastor 9:45 a.m. Sunday School 7:30 p.m. Evangelistic Service Tutsilaj 7:30 p.m Youth Meeting Friday 7:30 p.m Bible Study CROSS KOADS BAPTIST CHURCH Morning Worship 9:45 a.m. Sunday School 10:00 a.m. Preaching 11:00 a.m. Evening Worship 7:30 p.m. B.T.U. 7:45 p.m. Preaching 8:00 p.m. Wednesday Evening Worship 7:30 p.m. PROMISED LAND METHODIST CHURCH Frank M. Stage, Jr., Minister Church School every Sunday IE a.m. Church Worship Services, firs and third Sundays, 11:00 a.m. S«c ond and fourth Sundays, 6:30 p.m M.Y.P. meetings, second and fourth Sundays, 6:30 p.m. WSCS second and fourth Thurs days. YARISIIO METHOniST CIIURCt Carl Burton, Minister Church School every Sunday 11 a.m. Church Worship Services 2n< and fourth Sundays. 11 a.m.; firs and third Sundays 7:00 p.m. PSCS first and third Sundays HUFFMAN BAPTIST Byron Mpps, Paslor 10:00 a.m. Sunday School. 11:00 a.m Morning Service. 8:30 p.m. B.T.CJ Meeting. 7:30 p.m. Evening Service. Wednesday 7 p.m, choir practice and prayer meeting. NUMIlEh NINE BAPTIST Gcno Sliullz, Pastor Sunday School, 9:45 a.m. Morning Worship. 11:00 a.m. Training Union, 7:00 p.m. ' Sunday School and churc at Ynrbro School auditorium. Evening Worship. 8 p.m. DELL METHODIST B«T. I. B. H«W, Pastor •und«r School 10 a.m. Mornln« Worship 11 a.m. . Youth Meeting «:30 p.m. Evening Worship T:30 p.m. OOSNELL METHODIST W. W, Ptttrson, Pastor Woodrov Cook, Church School Supt. Church School, 10 a.m. Worship Service every 1st and 3rd Sunday. ' NEW LIBERTY BAPTIST Fire miles South Highway 61 Orville McOuire, pxstor Sunday School 10:00 a.m. Evening Worship 8:00 p.m. Wednesday Prayer Service 7:00 TOMATO BAPTIST R. V. Gean, pastor Sunday School 10 a.m. Worship Service 11 a.m. Training Union 7 p.m. Worship Service 8 p.m. Mid-Week Prayer Service 8 p.m IMMANUEI, BAPTIST A. M. Houston, pastor Sunday School 10 a.m Morning Worship 11 a.ia Training Onion 7 p.m. Evening Service 7:30 p.m. Wednesday night prayer service 7 p.m. GOSNELL BAPTIST Marcus Wilkerson, pastor Sunday School 10 a.m. Morning Worship 11:00 a.m. Training 'Jnlon 7:30 p.m.< Evening Worship 8:00 p.m. Wednesday 7:30 p.m. Pri.yer Ser vice .. LONE OAK LAND MARX MISSIONARY BAPTIST Elder S. L. Lone, pastor Sunday School 10 a.m. Preachiiig n a.m. Evening Service 7 p.m PRIMITIVE BAPTIST HI) Club at Dogwood Ridge 11 a.m. Sunday morning HALF MOON METHODIST CHURCH W. W. Peterson, Pastor Church School. 10:00 a.m. Supt. Ear] Baker. Sunday School. 10:45. Worship Service. 9:45. Youth Fellowship, 7:00 p.m. BURDKTTE.CIIUKCII OF GOD Rev. J. D. Hodges Sunday School 9:45 a.m. Morning Worship 11 a.m. Young People 7:00 p.m. Evening Worship 8:00 p.m. HALF MOON ASSEMBLY OF f5OI> Rev. O. I 1 '. Hartness, Pastor Sunday School 10:00 a.m Worship Service 11:00 a.m. YomiK People CA Service 6:30 Evening Church Worship 7:3(1 p.m. Mid-Week Service Wednesday 8 p.m. WOODLAND CORNER BAPTIST S. Allen Van Horn, Pastor Sunday School, 10 a.m. Worship Service, 11:00 a.m. . CA Service. 7:00 p.m. BTU 7:00 p.m. HUFFMAN CIIUUCII Of OOD Austin Williams, Pastor Sunday School 9:45 a.m Morning Worship 11:00 a.m. Evening Service 7:30 p.m. Y.P.B, Saturday 7:30 p.m Rural Churches CALUMET 1'ENTACOSTAL CtiURCH Or GOD Tom Cockron, Sunday School Supt. Sunday School 10 n.m Worship Service 11 a.m. PYPA 6 p.m. Worship Service 1 p.m. Wednesday Prayer Meeting 7:30 LITTLE RIVER LANDMARK MISSIONARY BAPTIST CHURCH Rev. F. M. Weaver, Pastor Proyer Service and Preaching Saturday night 7 p.m. Sunday School 10 a.m. Preaching Service 11 a.m. Training Service 7 p.m. Preaching following. ARMOHEL BAPTIST W. E. Bdmonson, Pastor Sunday School, 10:00 a.m. Ifreaching 11:00 a.m. Training Union, 7:00 p.m. Evening Worship, 8:00 p.m. Wednesday Prayer Meeting, 7:30 COLE RIDGE BAPTIST Oscar Patterson, Pastor> 10 a.m. Sunday School. 11 a.m Morning Worship. BTU, 7 p.m. • Evening Worship, 8pm. M.ld-Weet Wednesday Service 7:30, p.m. Luxora Churches cmmcn OF CHRIST Bob' Woodard, Evangelist Bible Study, 10 a.m. Morning Worship, 11 a.m. Com munlon, 11:45 Evening Worship 7:00 p.m. Wednesday 7:30 p.m. Bible Clas Children's ata««pir*Uae CM • Blbta School, t:30 . Morning Wonhip, il »m- Youth Study « p.m. Evening service 7:0« pjnt ' Monday — Women's Chrtstten workers 1st and 3rd weeks—? p.m. Wednesday — Children'^ Bible lour 3:40 Hour of Bible Power, 1:00 p.m. Choir Rehearsal 8 p.m. Thursday — Training for Service Class 7 p.m. CALVARY EPISCOPAL William J. Fitzhufh, Vlcir Second Cunday Alter Christmas 8 a.m. Holy Communion 9:45 a.m. Church School. " FIRST BAPTIST Percy F. Herring, Pastar Sunday School, 9:45 a.m. Morning Worship, 11:00 a.m. HTO Unioh, "!:30 p.m. Evening Service, 7:30 p.m. Midweek Service, 7:30 p.m. CHURCH OF CHRIST Morning Worship, 10:45 a.m. Evening Service, 7:30 p.m. Sunday School, 9:45 a.m. Bible Study Tuesday and Friday ST. MATTHEWS Rev. Amos H. Endcrlln Every Sunday Mass, 9 a.m. Holy Day 6:00 and 8 a.m. First Friday of month 7:30 a.m FIRST PENTECOSTAL Norman Kent, Pastor Evening Service. 7:00 p.m. FIRST PRESBYTERIAN Rev. Chalmers Henderson Sunday School. 9:45 a.m Morning Worship, 11 a.m. Young People, 5:00 p.m. Wednesday evening service 7:30 FIRST ASSEMBLY OF GOO 402 S. Broadway Rev. Joe Wilmoth, pastor Sunday School, 9:45 a.m. Morning Worship. 11 a.m. Young People C.A.'s, 6:45 p.m. ASSEMBLY OF GOD Earl iVIaxiveM. Pastor 10:00 a.m. Sunday School 11:00 a.m., Worship Service 6:00 p.m O A Service 1:30 p.m. Saturday Service , 7:30 p.m. Wednesday Prayer Service FIRST BAPTIST Rev. Harolf White 10:00 a.m. Sunday School 11:00 a.m.. Worship Services 6: ' p.m., B.T.U. 7:00 p.m. Worship Service 7:00 p.m. Wednesday Prayer Seiv. ice LUXORA METHODIST H. L. Robison. I'astor Church School, 10 a.m. Morning Worship, 11 a.m. 5 p.m. Vespers - \ , OsceoSa Churches FIRS! CHRISTIAN ' O. B. Moore, Minister Evangelistic Servlct, 7:30 p.m. A Thursday Evening, 7:30 p »• :) WMC Friday, 2 p.m. FIRST MKTHOblST Garland C. Taylor, pui*r Eunday School, 8:45 a.m. Worship Service, 11 a.m. i Methodist Youth Fellowship, <:l| Worship Service, 7 p.m. Wednesday Youth Choir practice, :30 p.m. Senior Choir, 7:30 pjn. Wilson Churches FIRST METHODIST CHURCH Sau G. 'Watson, pastor Sunday School.. 10 a.m. EUtner Beall, superintendent. Worship. 11 am. Methodist Youth Fellowship 0:11 p.m. Evening Worship and Sermon, — - '* FIRST BAPTIST uBURCB D. B. Bledsoe, pastor Sunday School, 9:45 a.m. Worship Service, 11 a.m. Training Union, 6:30 p.m. Worship Service. 1:30 p.m. Manila Churches FIRST BAPTIST CHURCH Guy f). Magee, pastor Sunday School, 9:45 Worship, 10:55 Training (Jnlon 6:30 Worship, 1:46 Wednesday Prayer Meeting, 7:30 . WALNUT GROVE - ASSEMBLY OF GOD South of Manila Sunrise Prayer meeting 5:30 a.m. Sunday School, 10 a.m. Morning Worship by Rev. Jewel Kitrel. • ' C. A. Service 6:30 p.m. Preaching 8 p.m. Beware Coughs Following Flu Afler.the flii is overam! gone, the cough that follows.may develop into cbron;^ bronchitis if neglected, CreomulsieoP' relieves promptly because it goes into the bronchial system (o help Joc*en and expel £eim tadcn phlegm, and aid nature lo soothe and heal raw, lender, inflamed bronchial" membranes. No matfer ho\v many medicines you have tried, Creomulsion- is guaranteed to please you or druggist refunds money. Creomulsion has stood the test of many millions of users. CREOMULSION s Coughi, Chesl ColtJvAcuta BronchitU FOR SALE Beautiful stucco home . .'. two bedrooms, 2 til* bitths . . . plate glass shower with tyronza base. • Attic fan, wall-to-wall carpeting . . . draperies . . . floor furnace ... all cedar lined closets. Guest house in rear with complete bath, hardwood floors, knotted pine walls, attic fan, cedar lined closets. Idea] location. Shown by Appointment only. ; " JOHNNY MARR ... phone 4111 . • ' 'or •'•'•', F. B. JOYNER . . . phone 4446 ROUND LAKE CHURCH OF CHRIST Sunday Schooi 10 a.m. Communion 11 a.m Bible Study 1:30 p.m. Wednesday Night Bible Study 7:30 p.m. CHRISTIAN SCIENCE SOCIETY 1211 W. Main St. Wednesday Service 8 p.m. Sunday Service 11:00 a.m. The Lesson-Sermon "God". LAKE STREET METHODIST CHURCH Rev. Bob McMistcr. Pastor Bob McHaffey, Church School Superintendent. Mrs Cecil Lusk. president of WSCS. Sunday School 10:00 a.m. Morning Worship 11:00 a.m. Youth Fellowfililp 6 p.m. Evening Worship 7 p.m. FIRST BAPTIST Eighth and Walnut Street* E. C. llrown, PisTor Sunday School 9:40 a.m. MornUig Worship Service 10:55 a.m. Training Union 6:30 p.m. Evening Worship Services *1:30 pjn. The morning worship services are broadcast over KLCN on the first y and second Sunday of each month Wednesday .'Sunday School Cabinet 6:48 p.m. Sunday School Teachers and Officers meeting 7 p.m. Prayer Sor\1ce 7:45 p.m. Chc4r Rehearsal 8:30 p.m. VIVAL SERVICES w 1 w mL. */L.I\ w i\*&Hfe# Jan. 1st thru llth-Each Night 7:30 p.m. of the Nazarene Firs! & Sycamore EVERYONE WELCOME- Gospel Preaching Inspirational Singing Opportunity to Seek the Lord Rev. \V. T. Johnson Special Speaker—Duncan, Okla. Joe L. liean Paslor SPIRITUAL-PRACTICAL-FRIENDLY ever 6uffi/- <i SULLIVAN-NELSON CHEVROLET CO. 301 W. Walnut Phone 4578

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