The Seguin Gazette-Enterprise from Seguin, Texas on November 6, 1985 · Page 11
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The Seguin Gazette-Enterprise from Seguin, Texas · Page 11

Seguin, Texas
Issue Date:
Wednesday, November 6, 1985
Page 11
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Page 12A - Wednesday, November 6, 1985 - The Seguin Gazette-Enterprise "FREE DELIVERY" 300 S. Austin 379-4622 USIN ESS Dale Dyess Realtors RCDCARPeT 379-6158 200 S. Austin Taxation of benefits confusing DANNY DANIELS (left), owner of Seguin Theatres Inc., and Wayne Stackhouse (right), owner of the Earth Stove Center, look over a new barbecue grill with Jon Edwards. Edwards was the winner of the grill in a contest held recently at the Palace Theatre. (Staff photo) Many elderly couples receiving Social Security benefits are confused by current laws that could tax a portion of that income. Adding to the confusion, tax-exempt interest, as municipal bonds pay, is now included in calculating the amount of income received. This may require you to pay federal income tax on a portion of your Social Security benefits. At the outset I should say that it is estimated that fewer than 10 percent of Social Security recipients will have to report any benefits to the IRS. Their total income is not enough to qualify. Here's how the law works. If you receive benefits, the Social Security Administration mails you a form, similar to the W-2, which shows all your Social Security income for that year. It's up to you to compute the total of your adjusted gross income, tax-exempt income and one-half of your Social Security income for the year. If you are filing a joint return and the total exceeds $32,000 ($25,000 for an individual return), then half of your Social Security is taxable. If it does not meet these limits, then your Social Security benefits are not taxed. An investor recently complained, Work begins at Crossroads Work began Monday at the new site for Schroeder Distributing Co. inc.'s soft drink distributorship in the Crossroads Industrial Park. The company, which recently celebrated its 45th year of business, is headed by its owner and president, Paul Schroeder. The beer distributorship owned by the company recently was sold to Tejas Hill Country Distributorship Inc. Schroeder Distributing's new building will be a 6,800-square-foot, one-story metal building with a brick face. The general contractor for the project, Kirchner Construction Co. Inc., is shooting for completion by the end of the year. Kirchner, which is headed by owner Arlon Kirchner, estimator Harold Henze and sales manager R.L. "Red" Blankenship, also began work last week on a new warehouse building for Jim's Formal Wear. Stores operating Two of the three major tenants at the Five Courts Shopping Center are now in business. The Bealls and Weiner's department stores are now in operation, with Weiner's holding a grand opening ceremony and ribbon cutting Wednesday morning. Weiner's, according to its manager, Clyde Griffin, features 27,000 square feet of space, as well as approximately 75 employees. The new store opened for business Monday. Bealls, overseen by Manager Marc Williams, employs 30 people to assist Customers. The store, which has operated in Seguin for a little more than 10 years, opened for business in the Five Courts recently after relocating from the nearby Plaza del Key. In other Five Courts news, Philip Riddiebarger * ' jf BUSINESS BEAT 1 management said Tuesday that the parking lot for the center has been completed, and work is continuing at the mall's food court, where floor tile is being put in and a fountain and rodeo Hall of Fame are being readied. Guidebook published A guidebook designed to serve as a handy reference for the trained welder, compiled and written by Wayne Yantis of Marion, has been published by Alamo Welding Supply Co. of San Antonio. While it can be a valuable reference source for any welder, the book, titled "Weldor's Guide to Filler Metals and Electrodes," is especially helpful for the farm or ranch owner who increasingly does his own welding repairs in order to cut his cost of doing business, said William R. Rockwood, president of Alamo Welding. The 28-page booklet, priced at $1.95, is available at Alamo Welding Supply Co., 1735 S. Alamo St. in San Antonio, and at the company's branch stores in South Texas. A native of La Coste who grew up in the farm and ranch area near San Antonio, Yantis based his book on questions most frequently asked when he put on demonstrations of cutting and welding processes at county fairs and farm and ranch exhibits or at Alamo Welding Supply Co. seminars. METAL PRICES NEW YORK (AP) — Spot nonferrous metal prices Tuesday: Aluminum - 42.15 cents per pound, N.Y. Comex spot month closed Tuesday. ;" Copper-67 5 /s-70 cents a pound, U.S. destinations. • Copper - 60.60 cents per pound, N.Y. Comex spot month closed Tuesday. ; Lead -18 3 4-19 cents a pound. Zinc - 36-38 cents a pound, 'delivered. Gold - $325.85 per ounce Handy & Harman (only daily quote). Gold - $324.30 per troy ounce, N.Y. Comex spot month closed Tuesday. Silver - $6.080 per ounce Handy & Harman. Silver - $6.088 per troy ounce, N.Y. Comex spot month closed Tuesday. Mercury - $320.00-$330.00 per 76-lb. flask, New York. Platinum - $332.00-$334.00 domestic merchant troy ounce, N.Y. The author, with 22 years of experience in the welding field, has been with Alamo Welding since 1976 and is now vice president of the company and manager of the branch store in Seguin. Awards announced K-Mart has announced its customer care awards for October to two store employees. Blanche Morales, a Fulltime employee in the store's automotive- sporting goods section, has been employed with the store for approximately five months. Judy Byrd, who also received the award, is a part-time employee and checkout supervisor who has been employed for approximately seven months. Dividend declared The board of directors of Entex Inc., in a meeting Oct. 31, declared a quarterly dividend of 34 cents per share on the company's common stock. The dividend is payable Dec. 20 to shareholders of record at the close of business Nov. 21. It will be the 60th consecutive quarterly dividend paid by Entex since it became a separate, investor-owned company on July 1, 1970. Booklet available Responding to requests from business customers who desire a single, easy-to-use source of information, Southwestern Bell Telephone has produced a comprehensive booklet designed for small businesses. "Tele-Help for Business Customers" contains information on 10 different subjects pertaining to changes in telephone service since the breakup of the Bell System in 1984. Southwestern Bell Telephone began the Tele-Help program last year in an attempt to minimize customer confusion resulting from divestiture. Customers can obtain Tele-Help booklets by mailing coupons included in their telephone bill or by calling 1-800-325-2686. Correction In the Sunday, Nov. 3, issue of the Gazette-Enterprise, the daughter of Deborah Scott, Devon Stallcup, was incorrectly referred to as a son. The GE apologizes for any inconvenience the error may have caused. DRY CLEANER AND LAUNDERER MONDAY - FRIDAY 7:00 - 7:00 SATURDAY 7:00 - 5:00 SEGUIN 1372 E. Court Next To K-Mart 3723133 t Coupons Good for Dry Clear D AM *J O I I Coupons Good for Dry Cleaning Only, Not Laundry Service 2 T"n7s" 7 Winter • «* v^ • * • ^^ < ' Band Uniforms I Expire. 11 1346 Expire. 11 13 86 13 Pair for | Coats ! $3" j | Expire. 11 1346 " Expire. 11 1386 | Warren Nossaman FINANCIALfOCUS 0. JONf • "I bought municipal bonds for tax- free income. Now I have to pay taxes on that income." That's incorrect. The tax-exempt income is used only to determine if you are required to pay taxes on Social Security. The tax-free income still remains free of all federal taxes. The tax on the Social Security benefits was not intended to, nor does it, remove the benefits of tax-free income. On the surface, this could appear as an additional tax on income regardless of the source. Actually, it's not. The additional tax, if you qualify to pay it, is on Social Security income only. Income from other taxable sources such as corporate bonds, certificates of deposit, rental income and the like are subject to the same federal income taxes as before. The interest on tax-free bonds continues (o remain free of tax liability. If you are receiving Social Security benefits and still enjoy a relatively high income, don't be deceived into believing that tax-free income can no longer benefit you. Consult a professional investment representative and learn the facts. Don't be misled by the myths. OOFF EVERYTHING IN STOCK Sale dates extended thru Nov. 11 Fertilizer. . , Shade Trees. . .Everything. . .Hanging Baskets. . . Potting Soil. . .Everything. . landscape Shrubs. . .Whiskey Barrels. . .Everything. . .House Plants. . .Cactus. . .Everything. . .Peat Moss. . . Fountains. . .Everything. . .Bird Baths. . .Stepping Stones. . .Everything. . .Lawn & Garden Tools. . . Chemicals. . .EVERYTHING! Scfiulz Open Daily 9:00 AM - 5:30 PM Closed Tuesday 1 00 W. Huebinger Marion, Texas 1 -420-2384 WO Jl Jl l .I....7T '7 know advertising in the Seguin Gazette- Enterprise works, because the coupons keep coming in. " CHARLES BRANDT Manager Holiday Inn Of Seguin IN. 123 Bypass • 372-0860 ADVERTISING DOESN'T COST, IT PAYS IN

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