Carrol Daily Times Herald from Carroll, Iowa on April 24, 1974 · Page 10
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Carrol Daily Times Herald from Carroll, Iowa · Page 10

Carroll, Iowa
Issue Date:
Wednesday, April 24, 1974
Page 10
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Answers on Taxes by the IRS This column of questions and answers on federal tax matters is provided by the local office of the U.S. Internal Revenue Service and is published as a public service to taxpayers. The column answers questions most frequently asked by taxpayers. Q. During my lunch hour at work, I drive to the nearest brokerage house to watch the ticker tape and keep tab on my stocks. Can I deduct my transportation expense? A. No. These transportation expanses are not deductible because they do not bear a reasonable and proximate relationship to the production of income. Q. I worked part time last year and made only about $900. Do I have to file a Federal income tax return? A. In general, no. But if you haa any unearned income such as interest and dividends, your total income was $750 or more and you could be claimed as a dependent, you must file. Of course, if tax was withheld from your pay, you must file a return to get your refund. Q. I just found out that on last year's return I could have deducted finance charges from my revolving charge accounts and credit cards. Can I just add the amounts I could have deducted on my 1972 return to the finance charges I'm deducting on friy 1973 return? 1 A. No. Each tax year stands on its own. You may deduct 1973 finance charges on your 1973 return. If you still want to deduct the 1972 finance charges, you must file an amended return, Form 1040X, which is available from your local IRS office. Q. Is it true that if you are 65 or older and sell your home, you may not have to pay tax on the gain? Times Herald, Carroll, la. . Wednesday, April 24, 1974 II A. Yes. If you were 65 or older before the date of the sa(e or exchange of your principal residence, you may generally choose to exclude from income all or part of the gain, if you owned and used the property as your principal residence for at least five years out of eight years ending on the date of the. sale orexchange. You can take advantage of this provision of the tax law only once in your lifetime. If you meet these requirements, you can choose to exclude the entire gain if the adjusted sales price of your home is $20,000 or less. If the adjusted sales price is more than $20,000, you still may be able to exclude part of the profit. For more details, see IRS Publication 523. "Tax Information on Selling Your Home." It's available free from your IRS office. Q. I took a new job out of state and had to move. What moving expenses can I deduct? A. If you qualify, you can deduct as moving expense: 1) travel expenses (including meals and lodging) froni your old residence to your new^one: 2) the cost of moving household goods; 3) the cost of premovfe househunting trips; \4) the cost of temporary quarters at the new location during any period of 30 consecutive days after obtaining work; and 5) certain expenses you incur in selling your old residence and purchasing a new one. FUNNY BUSINESS for the d ejd u c Pulblic or details on the limitations and requirements moving expense lion, see IRS iation 521. "Tax Information on Moving Expenses." For a free copy, fill out and mail the order blank on the back of your tax forms package. RECORD EARNINGS DESMOINES, Iowa (AH)Meredith Corp. has reported a 10.8 per cent increase in third quarter earnings of continuing operations compared to the quarter ended March 31,1973.'You can afford BOT, I WMOT T0 BALL. I voo eer IN HERE AND PRACTICE Innocent Plea to Open Meeting Violation Charge DAVENPORT. Iowa (AP)Six members of the Davenport Board of Education, charged with violating Iowa's open meeting law. have pleaded innocent in Scott County Associate District Court. A May 17 trial was scheduled Tuesday by Judge Jack Broderick. A jury trial was not requested. The six'did not appear in court and were represented by attorney Thomas Kamp. The board members are Dr. John Sinning Jr.. Dr. Gordon A. Flynn. Jack Smit. Dr. L. J. Twyner. Mrs. Hortense West, and Dale Paustian. Twyner. board president, had said earlier the charge apparently stemmed from a school board executive session in which summer school plans were discussed. He said a Davenport newswoman was barred from attending the meeting because the board was discussing personnel. However, he said discussion was policy-oriented and did not concern hiring or firing of personnel. Iowa's open meeting law says a public body can hold an executive session for three reasons: to discuss the hiring or firing of personnel, for discussion of property acquisition, or for such a compelling reason that public interest would not• be served by open discussion. "''' Bridge Expert: Game Can Ruin a Marriage D ANBURY, Conn. (AP) To Peggy Hanna, bridge is a ''wonde r ful, wholesome sport. But she says it has ruined marriages, caused ulcers and left couples childless, and "there are some married couples who should never play — not together, anyway. Mrs. Hanna is a new life master, the highest rank a bridge player can get. Although she and her husband Richard, another life master, don't view the bridge tables as a marital battleground, they tell somme stories that might prompt some card players to stick to solitaire. "I've seen husbands scream at their wives; some people can be very rude and insulting. At tournaments, the room sometimes sounds like a disturbed ward," said Mrs. Hanna, who notes that bridge etiquette requires partners to be silent during bidding. I've never been to a national tournament where they didn't have to call the doctor," she said. "The tension is incredible.'' To a serious player like Mrs. Hanna, the rank of life master represents the culmination of years of study and hundreds of bridge hands — "each of them different. Life master is to bridge what the Hall of Fame is to baseball. Players must accumulate 300 master points, 50 of them from regional and national contests. •• Mrs. Hanna began playing less than 10 years ago when a Welcome Wagon Club in South Bend, Ind., offered lessons in "social bridge," a less demanding game than duplicate bridge. "To tell the truth, I don't even remember how to play party bridge any more," said Mrs. Hanna. "Really, it's just an excuse for women to get together and have fun. You can't socialize when you're playing duplicate." She can't name a single friend who doesn't play bridge and she thinks nothing of driving 50 miles on a wintry night to keep a bridge appointment. Most vacations are combined with bridge, and the Hannas spent their honeymoon playing bridge with hundreds of others in a 10-day national tournament in Pennsylvania. 'When she moved to Danbury, Mrs. Hanna studied three or four nights a week, joined two bridge clubs and subscribed to four monthly bridge magazines. Her bookcases are full of 4-H Club News HALBUR — The Halbur Boys 4-H Club met April 15, with 12 •members answering roll call. Loren Dentlinger conducted the meeting. An illustrated talk was given by Randy Halbur on "How Seeds Are Certified." The members discussed the mini corn contest. MANNING — The Manning 4-H Clovers met April 6. Twenty-eight members answered roll call with "Name a Laundry Product and Tell What It Does". The health clinic which is to be held in Carroll on April 23 was discussed. The Girl Scout mother's tea on April 21 was also announced. ; Talks given were "Posture Plus" by Patty Handles, trophies and books on bridge. "We go to three or four national tournaments a year, enter most of the regionals and sectionals, and we play three or four nights a week with friends or at our local bridge club," Mrs. Hanna said. Tournaments consist of three sessions of bridge a day with as many as 1,000 high caliber players competing in tense games. Beside the $7 fee for each session, players must GOOD/YEAR Quality tires at the right price—for every need pay for hotel, meals and drinks. "I've heard people say you spend about $10,000 by the time you get life master," Mrs. Hanna said. But prizes are not large for winning tournaments, usually merchandise or trading stamps. "Well, you certainly don't play for the money," she laughed. "I play because I love it. It's intellectually stimulating and a lot of fun. You've got to be very competitive, and you have to be on your toes. Until their seven children are grown, the Hannas will continue their present bridge schedule. But they dream of the 30-day bridge cruises traveling the Carribean, and they are considering moving to New York when the family leaves home. "In New York, she said, "You can find a bridge game every night of the week." "Care of Hands and Nails" by Edith Myer; "Care of Hair" by Donna Herbers; "Go Togethers" by Sherri Mohr and Donna Rosonke; "Pressing Equipment" by Jackie Handles. Demonstrations given were "Pin, Sew, and Press Darts" by Janet Christensen; "Set in Sleeve" by Gail Hoffmann; "Neckline or Armhole Facing and Understitch" by Lori Gross; "Make Casing and Show How to Insert Elastic" by Kristy Halbur; "Sew in a Zipper" by Jill Escher; and "-How to Sew on a Snap" by Beth Brotherton. For the activity of the day, the girls made gifts for the .Mother's Tea in May. Hostess Jane Miller and her mother served lunch. BREMNY S MARKET WEST 3rd STREET - PRICES GOOD THRU TUESDAY, APRIL 30 GRADE "A" jmmm ^^^ _^ Turkeys 59,. 10 to 14 Ib. avg. ^^F ff Lb. $2.49 Fresh 85< Lb. Ground Beef..3-u>s. Worrell _ ^^ Franks i 2 -oz. pk g . 59* Morrell Frontier Bacon Lb . 65* All Meat Sliced Bologna $1.79 $2.49 Rio Frozen Strawberries . ,io-oz. 3 for Schmidt Beer i2-p a k Budweiser Beer i2-p 0 k Shurfresh _ f\ + Potato Chips io.oz. 5V* Welch Mf* + Grape Jelly 2 o-oz 49 < Costello Frozen Dessert ....</? cai. Elberta ^ f^ + Peaches NO. w, cam 39* Swans Down Regular JL, _ ^^^% Cake Mixes... .3 for ^ I .OO U.S.D.A. CHOICE CHUCK STEAK 83 $3.99 Farmland Canned Wilson Skin-on j± _ _ ^^ Wieners 5 . L b s $5.19 U.S.D.A. Choice _ -. Chuck Roast u> 69* Fresh Baby Beef Liver L b. Shurfresh Stick Oleo H& D ... 43 < Whiting 5-it. B» $1 .79 $2.19 $3.79 . 2-Lbs. .25-Lbs. CUP & SAVE 22MT/ WHEATIES 18-Oz. Without coupon 71 < Good only at Brenny's Market thru 1 coupon per family. Folgers Coffee. Shurfine Flour Medium Yellow _ ^^ Onions ib. 1 O Washington Red , Delicious Apples u>. Rich's Frozen JL^ _ _ ^^ Bread Dough s-pak. ^1.17 Brand _ _ Sweet Rolls P k g 45* Downy Fabric ' ^ _ Softener ...i7-oz. 35 Del Monte 17-Oz. JL^ _ ^\/% Corn....4 for $1 .UO Red or White 10-Lbs.L _ Potatoes ^ I . with coupon FUN GAMES Auditorium April FABRIC CENTERS COMPUTER DESIGNED TREAD "Power Streak" 78 Polyester Cord Tire • Smooth-riding polyester cord body will not flatspot — ever! • Dependable six-rib tread designed for traction and mileage WHITEWALLS $3.25 MORE PER TIRE Blackwall Tubeless Size A78-13 Plus $1.80 Fed. Ex. Tax , and Tire Off Your Car Tubclcsi Plus $1.88 ind'Tire OH Your Cir. Tubeless Plus Your Car. C78-13 1025 • «••• M • •ill • *«W Fed. Ex. Tai and Tire OH Your Car. H78-14/15 „, L „ Blackwall Tubeless Plus fed. Ex. TJX and Tire OH Your Car. Blackwall "" S2 33 Fed. Ex. Tax and Tire OH Your Car. $ Tubeless Plus $178 Fed. Ex Tax and Tire OH Your Car. F78-14/15 Blackwall Tubeless Plus J2.41/J2.42 Fed. Ex Tax and Tire OH Your Car. L78-15 4% Mi Mtl x£l4U • B^^P ^|P • WHITEWAU and Tire OH Your Car. 5 WAYS TO CHARGE • Oar Own Customer Cridit Plan • Master Charge • BankAmericard • American Express Money Card • Carte Blanche SENSATIONAL TIRE VALUE FOR PICK-UPS, PANELS,VANS & CAMPERS SIZE 8.00-16.5 6-ply tubeless, plus $3.44 Fed. Ex. Tax . and old tire. RIB HI MILER WIDE TREAD SIZE 6.70-15 7.00-14 6.70-15 7.00-15 7.50-16 PLY RATING 6 6 6 6 6 TYPE Tubeless Tubeless Tubetype Tubetype Tubetype PRICE $27.15* $26.45* $24.90* $31.60* $35.15* •Plus Fed. Ex. Tax from $2.36 to $3.33 per tire depending on size and old tire trade-in. PAUL & WAYNE SKELLY SERVICE East Hwy. 30 — Carroll 100% Polyester Double KNITS 60" wide, machine wash-n-dry. Crepe stitch solids, Jaquards, Prints, for pant suits and dresses. Reg. $3.99 Yd. CARTOON PRINT! |k r 0ps 50 % Rayon 50% Polyester SUMMER BREEZE 100% Dacron-polyester 100% Rayon decoration 45" wide on bolts Machine wash, warm Pre-shrunk, permanent press Use for brides-maid and Prom dresses or curtains Beautiful Florals Reg. . ^_ mm Am $2.59 $144 50% Rayon 50% Polyester Machine wash, warm Tumble-dry - No ironing 45" wide Reg. $2.49 ONLY Big Spools Polyester Thread Yd. WESTGATE MALL Stretch Lace For Hems or Trim Now Only POLYESTER CREPES Designer lengths Yd. Solid Colors Sale days Thurs., April 25 thru Tues., April 30 Open 9 to 5 Mon. thru Sat. Fri. 9 to 9

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