Sunday Gazette-Mail from Charleston, West Virginia on July 23, 1972 · Page 52
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July 23, 1972

Sunday Gazette-Mail from Charleston, West Virginia · Page 52

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Charleston, West Virginia
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Sunday, July 23, 1972
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Page 52
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2E--July 23, 1972 Sunday Gazette.Mail -- - Charlttton, VlrflM* How To Buy Consumers Win as Interest-Deduction Rule Eases] Married 50 Years Mr. and Mrs. Millard Kitchen will celebrate their golden wedding- anniversary with an open house from 2 to 6 p.m. July 30 at their home in Bob White. Married July 26, 1922, in Bim, she is the former Dorothy Kuhn. He is a retired miner. They are the . parents of five children: Mrs. Fred Walker of Madison; Eskell and Earnest of Tampa, Fla.; Terry of Detroit, Mich.; and Norwood of Lexington. Ky. - They have 11 grandchildren and four great-grandchildren. Cover Slipivs Bridal Dress Used by Mother, Daughter The pictures on the front page of Section G are the result of a story reporting the wedding of Mr. and Mrs. David Thomas on June 10. The bride wore the same dress worn by her mother, Mrs. Robert S. Patterson, on her wedding day. The dress was made by Mrs. Thomas' great-grandmother, who used the lace ·from the wedding dress of Mrs. Patterson's mother. A phone call to the Patterson home turned up color pictures of the recent bride and a picture of her parents on their wedding day. The color photograph was furnished to the Sunday Gazette-Mail by Cecil Richardson of Richardson's Photography, South Charleston. Paula Barrett Is Bride By Sidney Margoliu* Consumer Expert for Sunday Gazette-Mad WASHINGTON, D. C.-The small taxpayer, who also is often an installment buyer, has won a long-sought victory with the new ruling by the Internal Revenue Service that finance charges on revolving credit accounts are fully deductible on lax returns. The IRS had long made an unfair distinction between "interest" and "finance charges" Interest on loans, even if used to buy cars and other goods, was fully deductible. But deductions for installment-plan "finance charges" or "service charges" were limited to an amount equal to 6 per cent of the average monthly unpaid balances, even though actual true interest charges on such debts are 18 per cent a year or more in most states. Then in 1970, the IRS declared that interest on bank- sponsored charge accounts also is fully deductible. But the revenue service still ignored the other types. At monthly payment plans. At the time, this writer pointed out to various IRS spokesmen that other retail revolving charge accounts are basically the same as bank-sponsored monthly-payment accounts. We pointed out that the "truth in lending law" had made a whole new ball game. Even though retailers -and finance companies called their fees "f i n a n c e" or "service" charges instead of "interest," truth-in-lending now requires that all such charges be stated as "annual percentage rate." « * * IN ITS LATEST ruling, the IRS agreed thst "the amount charged to the customer's revolving charge account is solely for the privilege of deferring payment and is interest. Since the interest charge is ascertainable, the special 6 per cent statutory rule need not be applied, and the total charge is deductible." Unfortunately, the IRS still has not clarified whether finance charges on regular installment plans, often used to buy furniture and other equipment, also can be considered fully-deductible "interest." Despite several discussions, IRS spokesmen in Washington will only go so far as to say that "each contract would have to be considered separately to see whether the interest is ascertainable or whether there are any other charges that are not 'interest'." All I can say is that this is a distinction without a difference, which leaves both IRS officials and individual installments buyers up in the air without a clear, uniform ruling. If you look at the installment plan offered by one of the largest mail-order houses, the seller says, "The annual percentage rate of the finance charge will be 20 per cent." There are no other charges. For the same retailer's revolving charge account, the contract says the finance charge is "1.5 per cent per month (annual percentage rate of 18 per cent)." For its home modernization credit plan, the same retailer says, "The annual percentage rate of the finance charge is 14.75 per cent." Moreover, all three types of credit meet another IRS definition of fully-deductible Interest: ". . .a service charge is fixed and has no relationship to the amount borrowed or the time given to pay. Interest, however, is based on the unpaid amount and the length of time before p a y m e n t is made." * * * OBVIOUSLY, IN ALL t h r e e kinds of credit, the finance charge is now given as an annual percentage rate, is solely for the privilege of deferring payment, is interest, and should be fully deductible. Installment credit obviously is merely a loan. Any other interpretation is notably unfair to consumers. Businessmen can deduct all the "interest" they pay for financing. One way to make sure the interest you is fully deductible without pay varying interpretations by different revenue officers, is to borrow for your purchase from a credit union or bank. In fact, you'll save a lot on the interest, too. Credit unions charge no more than a true annual rate of 12 per cent and sometimes less. If you did suffer a reduction in a finance charge deduction because of the previous 6 per cent limitation, and enough money is involved to make it worthwhile, you can claim ^i refund. The time limit is three years from the due date of the return. You can use Form 1040X for claiming a refund so you don't have to do a whole new return. This form is available at your local IRS office, and the staff there will help you file the claim. '·'·'·'·' 8 unmistakably^^ Sff\,S^s1Ks f ^ 214 CAPITOL ST. Deborah Ann Surbaugh Married Of Randolph L Walker Wedding vows were exchanged Saturday in Christ the King Catholic Church by- Miss Paula Kay Barrett, daughter of Mr. and Mrs. Robert E. Barrett Sr. of Dunbar and Randolph Lee Walker, son of Mr. and Mrs. E. L. Walker, also of Dunbar. The Rev. Richard Shaffer performed the 1 p.m. ceremony and the bride was given in marriage by her father. She wore a floor-length gown of lace over crepe fashioned wilh a sleeveless bodice, empire waist, and A-llne skirt. The matching lace floor-length veil was held by a Juliet cap covered with roses and mother of pearl. The bride's mother made the gown and veil. Purple asters and white roses made up the bridal bouquet. * » * BONNIE SUE CUNNINGHAM was maid of honor and b r i d e s m a i d s were Joyce Agnes Barrett, sister of the bride, and Theresa Agnes Legg, her cousin. Gail Louisfe and Toni Marie Nuhfer, nieces of the bride, and Karen Lee Gillespie, cousin of the bride- g r o o m , were flowergirls. Brian Allen Gillespie. also a cousin, was ringbearer. Paul Ray Barrett, twin brother of the bride, was best man and ushers were Thomas Eugene West and Michael In a Saturday evening ceremony at Bible Center Church, Miss Deborah Ann Surbaugh, daughter of Mr. and Mrs. Wayne Surbaugh of South Charleston, became the bride of David Lee Ice of Dayton, Teem., son of Mr. and Mrs. Robert Ice of Chicago, 111., . formerly of Charleston. Robert Spradling performed' the ceremony following a program of nuptial music by Bill Lehman, soloist, and Mrs. Carolyn Black, organist. GIVEN IN marriage by her father, the bride wore a long gown of sata peau trimmed with English Nottingham lace and pearls. The bodice was designed with long fitted sleeves, a high neckline and an oval lace yoke trimmed with ruffles. The skirt fell from an empire waistline and extended into a full chapel train. The veil, made by her mother, was held to a Juliet cap covered with lace and trimmed with pearls. She carried a colonial bouquet of miniature while carnations and blue and pink daisies. Serving as matron of honor MRS. D. L. ICE . . former Deborah Surbaugh for her sister was Mrs. Marilyn Snodgrass of Charleston. Bridesmaids were L i n d a Means and Ronda Gregory, both of Charleston, Ellen Smith of Augusta, Ga., Bertha Combs of Eaton, Ohio, and Verna Ray Canterbury of Metairie, La. Kim Moss was flowergirl. Daniel Ice was best man for his brother. Ushers included Harold Hulsey of Atlanta, Ga , Steve Wilson, Tim Tiffner, Steve Houston, and Gary Surbaugh, brother of the bride, all of South Charleston. Mike Snodgrass, nephew of the bride, was ringbearer. FOLLOWING A'reception at the church, the couple left for a wedding trip through West Virginia. They will reside in Dayton. Mr. and Mrs. Ice are students at Bryan College in Dayton. She was graduated from South Charleston High School and he is a Stonewall Jackson High School graduate. The bride was honored at showers given by Linda Means, Kathy Stover, Ronda Gregory, Debbie Angle Weikle. Vicki Adkins, Jane Gerke and Helen Boyd. The parents of the bridegroom entertained at the rehearsal dinner at the Daniel Boone Hotel. Rebecca King Is Bride Of William H. Booth III MRS. R. L. WALKER . . . Jomier Paula Barrett Ray Walker, cousin of the bride. *· * * FOLLOWING A reception at the church, the couple left for a short wedding trip. They will live at 102 Taylor Rd., Dunbar. Mr. and Mrs. Walker are graduates of Dunbar High School. She is working toward a degree in commercial art at Marshall University. He is employed by his father at Smith and Lewis Trucking, Inc. The bride was honored with a shower given by Bonnie Sue Cunningham, Joyce Agnes Barrett and Theresa Agnes Legg. Miss Rebecca Jane King, daughter of Mr. and Mrs. James Paul King, became the bride of William H. Booth III, son of Mr. and Mrs. William H. Booth Jr., all of Oak Hill, at 4 p.m. Saturday in Saints Peter and Paul Catholic Church in Scarbro. The Rev. Leo Werner officiated and music was provided by Miss Carol Booth, sister of the bridegroom. Given in marriage by her father, the bride wore a formal gown of silk organza styled with an empire bodice, full bishop sleeves, high neckline, lace and ribbon accents, an A-line skirt and a detachable train. A bandeau of flowers held her illusion veil and she carried a colonial bouquet of sweetheart roses, bachelor buttons, stephanotis and baby's breath. Mrs. Rose Mary Christian was matron of honor for her sister and Mias Frances Booth, sister of the bridegroom, Mrs. Kathy Wensyel and Mrs. Cathy O'Neal were bridesmaids. PHILLIP BOOTH was best man for his brother and ushers were James Rodney Booth, another brother, and Charles Christian and Ronaia King. Following a reception at the church, the couple left for a Wedding trip. They will live at 522 Highland Ave., Oak Hill. Mr. and Mrs. Booth graduated from Collins High School. She Is employed by the Merchants and Miners National Bank. He graduated from West PRE-SEASON SPECIAL! MRS. W. H. BOOTH HI . . . former Rebecca King Virginia Institute of Technology, served two years with the Army and is employed by the Fayette County Health Department. SALE 5" to !4" val. to 24.00 Amalfi Bandolino Joyce Seiby Shop Monday 9:30.a.m. to 9 p.m. Marjorie Ruse, R. D. Jackson Wed Miss Marjorie Lou Ruse, daughter of Mr. and Mrs. Donald R. Ruse of Cabin Creek, became the bride of Ronnie Delane Jackson, son of Mr. and Mrs. Romey G. Jackson of Hansford, at 7 p.m. Friday in the Montgomery Baptist Church. The Rev. Jack Jamts officiated and music was provided by Mrs. Katherine Luikart. Given in marriage by her father, the bride wore a floor- length gown of chiffon over taffeta with lace and pink velvet ribbon trim and fashionedi with an empire bodice, bishop sleeves and a high neckline. A headdress of baby's breath held her floor-length veil and she carried a colonial bouquet TTy-\T*rr /-^ » T»T ·«-- daisies and baby's HOW CAN I? United Airlines. The bride was honored with a shower given by Mrs. Carol Thompson, Mrs. Susan Canterbury and Mrs. Loretta Ruse. MRS. CAROL THOMPSON, sister of the bridegroom, and Charles F. Thompson were the couple's only attendants. Following a reception at the home of the bridegroom's parents, the couple left for a wedding trip to Pipestem State Park. Mrs. Jackson is employed by Home Finance Co. Inc., and her husband, a junior printing management major at West Virginia Institute of Technology, is employed by Q. What can I do about baseboards or wood trim in my home which has warped away from the wall? A. Try drilling a clearance hole through the board and its greatest bulge. Then run a flat headed screw into the stud underneath.. If this doesn't pull the board up all the way flat against the wall, fill the intervening space between the board and wall with putty or plaster, and paint. [ISTW 49. regular 60.00 If you like the classic coat, you'll love one of these colorful imported Harris Tweed styles. (Left) Club collar; Red or Green, Size 6 to 16 (Center)_Notch Collar; Brown or Blue, sizes 6 to 16. (Right) -Convertible collar; Red or Blue; Sizes 8 to 18. Coats, Third Floor CLOGS NEW SHIPMENT! JUST ARRIVED! including white MRS. R. D. JACKSON . . . f o r m e r Morjoric Ruse Sunday Deadlines Club calendar notices for the Sunday Gazette- Mail Home and Family Section must be submitted prior to 7 p.m. Wedneanday. Other items for Sunday publication have a deadline of noon Thursday. Don't wait until Thursday to call us about your Sunday news. Submit your material as early as possible to assure Sunday publication. The only weddings accepted for Sunday publication are those which will occur on the preceding Friday or Saturday. I i l f V. 13. NAVY SUEDE NAVY PERFORATED 14. I WHITE SMOOTH PATENT I NAVY SMOOTH PATENT' I The smartest in opener clw for the most comfortable I going, doing, being or moving. »iunacip. | c Shoe Salon :§ Street Floor »««w»«Ma^^

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