Historical Newspapers of South Carolina

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8 T-Di Careful Preparati Re This year many ClintonLydia employees will overpay their Federal income tax bills, simply because they 11 fail to take all the deductions to which they are entitled. The following suggestions will help you in determining the deductions which you are allowed: The greatest possibilities for savings are in the exemptions. You can claim a child under 19 or a full-time student. You may be able to claim dependent relatives. You and your brothers and sisters can take turns year to year in claiming dependent parents under certain conditions. Read your instructions carefully and claim all you are entitled to, even though they may not have been claimed for withholding tax purposes. Other savings can be made if you understand the kinds of income that do not have to be reported. Some of these are o 1 PAoiirifir i n 'n rJ l n ouviai oc\.ui uv, vclci an o ui^ability compensation, gifts, death benefits for life insurance, inherited property including cash, unemployment compensation and accident and health insurance benefits. Also the first $50 of cash divi XJll IS UUl dUUJCtl to tax. Contributions that may be deducted include contributions to church. Community Fund, building fund campaigns for a hospital or college. The fair market value of clothing and furniture contributed to a charitable organization is also deductible. The instruction book that you received from the Internal Rev enue Service gives information on the various organizations that are considered charitable for tax purposes. Interest you paid during 1960 is deductible. The biggest item here, generally, is the interest on a home mortgage. The lending agency's monthly statement usually shows the apportionment of the payment among principal, interest, taxes, and insurance, \Y ( 7 T-Day April ^ come tax returns, have been putting K m before midnight o m will burn the mid ^ final date. Then i and it's too late t< Don't overloi 15th. midnight < P\ income tax return on of Your Income 'turns Cun Suve Y or the agency furnishes you with a yearly statement ol the apportionment. Also, deduct carrying charges paid on an auto loan, to a finance company or even to department stores on installment purchases, up to 6c/r of the average monthly unpaid balance. Taxes of various kinds are deductible. Real estate taxes head the list. This figure is not necessarily the total of the payments collected for taxes in your mortgage payment, but the actual payments made either directly or to your bank. 1 1 - _ 1 _ A inciuue aiso in your lax deduction schedule the cost of your auto and driver's license, sales tax (the rule of thumb is one percent of total income plus the actual tax on major purchases), and the state tax on gasoline at 7c per gallon in South Carolina. Be sure to include the South Carolina State income tax you paid April 15, 1960 as well as the State income tax withheld during 1960. Medical - Dental expenses may be deducted in part when they are unusually high. Be sure you understand that only the cost of drugs and medicines in excess of one per cent of your income is allowed. In your expense for medicines or drugs, do not include other items you buy at a drugstore such as cosmetics, tooth paste or toiletries. Vitamin pills, tonics, and other formulas taken to preserve 4 1 1 1 1 A 1. A me general neaun are ncu deductible. In your medical-dental expenses, you cannot deduct hospital expenses which were paid bv your hospitalization insurance. However, vou can deduct the premiums you paid for hospitalization insurance. Premiums paid for life insurance are not deductible. Miscellaneous is a catch-all for all other deductions you couldn't find room for anywhere else. The IKS instruction booklet vou received with vour tax forms indicates THE CLOTHMAKER \PRIL) \ 15th is the final day for inhnth fcHprnl nnd stnlo If vmi it off, you had better put it on f that date. Quite a few people night oil a few days before the n the rush, errors will be made ? correct them. ok this final reminder?April deadline for federal and state s. > Tax ou Real Money the types of allowable miscellaneous deductions. !\. 1 _ 1 _ M l ^ uun i ovenooK a possiDie deduction for casualty losses not covered by insurance. Working wives should be careful to determine whether they are eligible for deductions for child-care expenses. If you will take the time and trouble to fill out the income tax return right the first time, it will save time and trouble later. Be careful and accurate in filling in the details and providing supplementary information. If you have unusual items or complications you may wish to obtain available assistance from the Internal Revenue Service or consult with a competent accountant or attorney. Don't forget to sign your name, or if it is a joint return. don't forget to have your wife sign. too. Be sure to attach vour W-2 form and get the whole works in the mail bv the April 15 deadline. Wife Savers 1. How can you prevent ice trays from adhering to the freezing eomnartment of vour _ _ n - g refrigerator? Easy. Just rub Vaseline petroleum jelly on the bottom of the travs. 2. Is your rug curling up on you? To correct it, sew rubber fruit jar rings at the corners of the underside. They will help prevent rugs from slipping and sliding. 3. Notice a rip on your curtains? To mend it quickly and invisably, apply colorless nail polish; then press the torn edges together with your fingertips. Partv guests will never know the curtains were mended. 4. To make sure packages are tied tiehtlv wot tho si rim* ^ first. The string will shrink as it dries! 5. Are annoying white spots caused bv carelessly placed glasses marking your mahogany furniture? Make them vanish with a thin layer of Vaseline petroleum jelly. APRIL, 1961, INATIONWI Nancy Ann Fleming, Miss Amerit annual Christmas Parade, displays thi the American Cancer Society. T Mill-fine Pfinnlf-'e h/imI f/?i- f on -.7 " *"* according to a recent statement b Laurens County Commander. La aid from the local chapter. More t from the Clinton area. Aid was portation to Cancer Clinics, crutcl beds, wheel chars and bed side < elude X-ray, Radium and Surg ceived in the Crusades are used in Research, and Service. Clinton-Lydia employees whe 1961 Cancer Crusade in the ann Chest Campaign last October. American Car Is 1 Clinton United MM! *" ' Clean-up P nS? fix-"p m It's Yard-Coi Beautification Pr MfttMIMAl auilMO Of rittl UOHOWOttlOt 'G-EORGEl- WHAT RNALLN CLEAN UP THE BASEMEN The Company will again : Boautification Program during made to the homeowners whose ; most improvement, most attraei rangement. First Place Award $10.00, Third Place $5.00. We are all exceedingly proud are always favorably impressed of the homes and yards. With each homeowner our communiti and orderliness can be maintain Your neighbors are dependi enjoy the results that a few odd will give. It will take practicalh of yourself and of the results. MARCH, 1961 I)E CANCER MONTH jj i\ "IjjBL i ^ y,y ^ ^'? ill^BBI^bb^b *>v J' ^8' :a. who visited Clinton for the e sword which is the symbol of cer Funds is $8,000 this year y Mrs. Sara Dixon DeLoach, st year 68 patients received han half of the patients were in the form of drugs, transhes, fuel, diet foods, hospital . are. Patient treatments inical procedures. Funds rei three ways . . . Educational, >le heartedlv supported the ual Greater Clinton United icer Society Chest Agency innual aint-up lonth *it>, Jgp nmunity jf/ \H[ ogram Time fal r~ LU - ~ ' POSSESSED YOU TO T ?* sponsor a Yard-Community April. Cash awards will be cards arc selected as showing Live and neatest or best arwill lie $15.00. Second Place of our Communities. Visitors with the order and neatness 1 he continued cooperation of es' reputation for cleanliness ed and improved. nj? on you. So join in and jobs and a little extra effort ' no time and you'll be proud