The Shiner Gazette (Shiner, Tex.), Vol. 66, No. 25, Ed. 1 Thursday, June 19, 1958 Page: 2 of 8
eight pages : ill. ; page 25 x 19 in. Scanned from physical pages.View a full description of this newspaper.
Extracted Text
The following text was automatically extracted from the image on this page using optical character recognition software:
Shiner Gazette — Shiner, Texas
Thursday, June 19, 1958
“Lavaca County
News
Items
From
Lavaca
County
John V.
Lindsey
County
Agent,
•
Important New
Income Tax Rulings
(1) Sale of wheat under con-
tract for payment in a later
taxable year.
(2) Deductible expenses for ed-
ucation.
SALE OF WHEAT
Wheat can now be sold and
delivered to the buyer in one
Extension News”
News Item
From #
Mrs. Doris
Myers
Lavaca
County
Home
Demonstration
Agent
year with the proceeds receiv-
ed as taxable income in a later
year.
With harvest near and pros-
pects good for a bumper crop,
a recent ruling of the Internal
Revenue Service relating to this
type of sale will be of imme-
diate interest to Texas wheat
I farmers, buyers and others in
the trade.
[ While the specific case dis-
cussed in the ruling concerned
the sale of wheat, the inter-
pretation undoubtedly will ap-
ply in the same manner to any
commodity.
The key requirement of such
a sale is that the seller must
have no legal right to demand
and receive payment until the
year following the sale. (If he
has such a right, then he is in
“constructive receipt” of the
sale price the same year of sale,
regardless of whether he actual-
ly receives the money).
Here is the gist of the hold-
ing (Revenue Ruling 58-162):
“The proceeds from the sale of
wheat by a farmer using the
cash receipts and disbursements
methods of accounting, under-
a bona-fide arms-length con-
tract calling for payment in the
taxable year following that in
which the wheat was delivered
to the purchaser, are includible
in his gross income for the tax-
| able year in which payment is
received.”
IMPORTANCE TO FARMERS
Taxpayers with widely var-
iable annual incomes tend to
pay more income taxes than
those with the same income
more evenly distributed.' This
is true for two reasons. First, in
good years income may pene-
trate higher rate brackets. Since
the rate structure is graduated,
this causes the over-the-years
average effective rate to be
higher than it would be for
evenly distributed income.
Second, personal exemptions
can not be carried forward or
backward. Hence, an unused
exemption is forever lost. It is
good management, therefore,
for farmers in high risk areas,
and others whose incomes ebb
and flow, to strive to level out
year-to-year income.
The practice of holding some
of the crop in good years for
sale in a later year is often a
] good method but this is not
practicle for many farmers be- I
cause of the hazards and stor-
age costs. Also, placing some of
a crop under loan with CCC
sometimes will permit the
spreading of income from one
good crop into two years.
(Farmers have the option of
reporting income the date loans
funds are received or the date
the loan is terminated. But once
a method is chosen, it can not
be changed without permission
of the Internal Revenue Ser-
vice). This new ruling clears
the way for still another meth-
od of managing for more Stable
year-to-year taxable income.
DEDUCTIBLE EXPENSES
FOR EDUCATION
Here are major points con-
tained in the Internal Revenue
Service regulations relating to
the deduction of expenses for
education which were recently
authorized by law. Educational
expenditures by a taxpayer for
1 his education are deductible ex-
penses provided the education
is undertaken primarily for the
purpose of: 1. Maintaining or
improving skills required by
the taxpayer in his employ-
ment or other trade or business,
or, 2. Meeting the expressed
requirements of a taxpayer’s
employer, or the requirements
of law or regulations, which are
imposed as a condition to the
retention by the taxpayer of his
salary, status or employment.
(For example, a requirement by
a school district that teachers
must go to school at regular
intervals to hold their job.)
The Internal Revenue Service
has stated that whether or not
education meets .one of these
two requirements will be deter-
mined on the basis of all the
facts of each case. However,
they state that if it is customary
for others in the same employ-
ment, trade or business to un-
dertake comparable education,
the taxpayer will ordinarily be
1-lb. can tomatoes
1 lb. ground lean beef
1 Tablespoon grated onion
1 teaspoon Worcestershire
sauce
IV2 teaspoons salt
Va teaspoon pepper
2 slices fresh bread, torn into
small pieces
V2 cup PET Instant (in dry form)
3 Tablespoons butter or
margarine
1 Tablespoon flour
1 teaspoon sugar
Drain and measure Vi cup Juice from tomatoes. Let rest of juice and
tomatoes stand until needed. Mix well in a 1 ’/2-qt. bow! the Vi cup tomato
juice, beef, onion, Vi teasp. Worcestershire sauce, 1 teasp. salt, pepper,
bread and PET Instant. Divide meat mixture into 4 equal parts. With
wet hands, shape each part into a small loaf. Put loaves into 9-in. square
pan. Dot loaves with equal parts of 1 Tablesp. butter. Bake near center
of 325 oven (low moderate) for 30 to 35 min., or until brown. Mean-
while, melt 2 Tablesp. butter in a qt. saucepan. Stir in flour until smooth.
Add tomatoes and rest of juice, sugar, Vi teasp. salt and Vi teasp.
Worcestershire sauce. Bring sauce to boil. Then lower heat and cook
10 min., stirring now and then. Serve meat loaves with the sauce and
hot, seasoned broccoli. Makes 4 servings.
GROUND BEEF . . R». •, •
CANNED TOMATOES 303 tan,
...49c
2 for ,25 c
FROZEN BROCCOLI box...... 19c
PET INSTANT nonfat dry milk . 35c
Specials For
Friday & Saturday,
June 20-21
Admiration
COFFEE
lb. pkg. or can. 75c
Our Store Is
CORI FORT
PHONE 4-3331
SHINER, TEXAS
CRACKERS
SUPREME
SALAD WAFERS
1 lb. box. 25’
GOLDEN RIPE
BANANAS, 2lbs...... 25’
FRESH CRISP —
LETTUCE, 2heads... 25’
JUICY
LEMONS, 2lbs......35’
CANTALOUPES, lb... 5’
WATERMELON, lb... 3’
MEATS *
No.1,1b
65’
Finest
Quality
ARMOUR STAR COOKED
HAM, 4 lb. can..
SLAB
BACON, lb
FRESH GROUND
HAMBURGER, lb.......49’
SUN-VALLEY
OLEO ......
Fresh Dressed
FRYERS
39*
GLADIOLI
FLOUR
5 lb. bag...... 45^
25 lb. paper bag .. $1.79
MRS. TUCKER'S
SHORTENING
3 lb. can...7 5*
LIPTON’S
. 31*
TEA, '/« lb.. 39’
HOUSEHOLD NEEDS
19*
4 rolls for.. 33^
6 OZ.
JAR
COLGATE — GIANT SIZE
TOOTHPASTE..
FOLGERS
INSTANT
Coffee
CUT-RITE — 125-FT. ROLL
WAX PAPER...
BREAST-O’-CHICKEN — CHUNK STYLE
FANCY TUNA, can.....
ASSORTED COLORS
CHARMIN
TISSUE
PHILADELPHIA — 3 OZ. PKG.
CREAM CHEESE, 2for.
LARGE
31’
LIBBY’S — WHOLE KERNEL GOLDEN
CORN, 2cansfor......
MARBLE
DEVIL’S FOOD
WHITE
or
YELLOW
3 for 89’
CLAPIOLA
CAKE MIXES
HUNT’S
HUNT’S
TOMATO
CATSUP
SAUCE
14 OZ. BOT.
3 for. 25c
2 for. 35c
Fruits frlteteblej
considered as having met the
requirement numbered as “I.”
Expenditures are not deduct-
ible if they are for education
undertaken primarily for the
purpose of obtaining a new po-
sition or substantial advance-
ment in position.
In general, expenditures for
travel as a form of education
will not be deductible.
Expenses for travel away
from home primarily to obtain
education is an educational ex-
penditure. This includes trans-
portation, meals and lodging.
If the taxpayer engages in
personal activities, such as
sight-seeing, as an incident of
his educational trip, the por-
tion of the expenses attribut-
able to personal activity is not
allowable as a deduction. An
important factor to be taken in-
to consideration in making a
determination between deduct-
ible and non-deductible ex-
penses is the relative amount
of time devoted to personal
activity as compared to time
devoted to educational pursuits.
Expenses in the nature of
commuters’ fares are not de-
ductible.
The following examples have
been used by the Internal Re-
venue Service to illustrate what
is and is not deductible.
1. “A” a high school teacher
of physics, in order to improve
skills required by him and thus
improve his effectiveness as a
teacher, takes summer school
courses in nuclear physics and
educational methods. “A’s” ex-
penses for these courses are de-
ductible.
2. “B” is employed by an ac-
counting firm. In order to be-
come a certified public account-
ant he takes courses in account-
ing. Since the education was un-
dertaken prior to the time “B”
became qualified in his chosen
profession as a certified public
accountant, “B’s” expenditures
for these courses and expenses
for any transportation, meals,
and lodging while away from
home are not deductible.
3. “C” takes summer school
course in order to improve
skills required by him in his
employment as a teacher, As a
result of taking these courses,
“C” receives an in-grade in-
crease in salary in his recent
position pursuant to a salary
schedule established by the
school system for which he
works. “C’s” expenditures for
these courses7 are deductible.
4. “D”, a graduate student at
a university, plans to become
a university professor. In order
to qualify as a regular faculty
member, “D” must obtain a
graduate degree. While taking
the required graduate courses,
“D” is engaged in teaching at
the university. “D’s” expenses
therefore, are not deductible
since he has not completed the
education required to become
qualified as a regular faculty
member at the time he takes
these courses.
5. “E”, a self-employed tax
consultant, decides to take a
1-week course in taxation,
which is offered in Dallas, 200
miles away from his home. His
primary purpose in going to
Dallas is to take the course, but
he also takes a side trip to Min-
eral Wells for one day, takes a
sight-seeing trip while there,
and entertains some personal
friends. “E’s” transportation ex-
penses to Dallas and return to
his home are deductible but his
transportation expenses to Min-
eral Wells are not deductible.
“E’s” expenses for meals and
lodging while away from home
will be allocated between his
educational pursuits and his
.personal activities. Those ex-
penses which are entirely per-
sonal, such as sight-seeing and
entertaining friends, are not
deductible to any extent.
GRASSHOPPER CONTROL
Pastures and crops are being
over run with grasshoppers.
Fortunately, for those who wish
to apply control measures good
results can be expected from
the use of insecticides. The list
includes aldrin, heptachlor,
malathion, toxaphene, chlor-
dane, dieldrin, and endrin. For
specific vegetables or crops we
suggest that you follow the in-
sect control guides available in
the County Agent’s Office.
PASTURE WEED CONTROL
A new bulletin, B-892, “Weed
Control In Texas Pastures,” is
of special value to farmers and.
ranchers of Lavaca County.
This bulletin gives principles of
weed control in cultivated pas-
tures and meadows, lists the
major weeds in Texas pastures
(roughland excluded), discuss-
ing mechanical control and sets
out chemical control suggestions
as to time, rate, and method of
application. Spray equipment,
calibration and other specifi-
cations are explained.
It is too late in the season and
too dry to expect good results
from use of chemicals to control
pasture weeds. We suggest
mowing weeds at this time and
chemical control next spring.
* * *
On June 9 the Oak Grove 4-
H girls had 8 of the 11 members
taking part in the tour to the
homes to see the projects. Mrs.
George Mayer with her two
small children and Mrs. Ben
Darilek and son accompanied
the group. Mrs. Mayer and Mrs.
Darilek are the leaders for the
club.
The Moravia 4-H tour was
June 13 with 17 of the 29 mem-
bers taking part. Mrs. Jerry
Matus and Helen, Mrs. Anton
Hrncir, Mrs. Alfred Berger and
Dottie Holub went /With the
group to the homes. The Lead-
ers prepared a picnic lunch at
noon at the school house.
This completes the tours in
the 14 girls 4-H clubs. The girls
and leaders who have taken
part can see the value in visit-
ing other projects. It has en-
couraged and given the girls
new ideas. It is hoped that next
year every club member and
her mother will take part in
this profitable experience.
4-H CONCESSION STAND
The 4-H boys and girls will
Hiave the concession stand at
the rodeo again this year. This
is the only way the 4-H coun-
cil has of making money. The
council pays for the insurance
on the boys and girls when they
make out of town trips and
pays their expenses to Round-
up, Leadership Lab and other
trips that are made. The 4-H
council had the concession
stand two years ago and made
money to carry over til this
year; Come by and support the
boys and girls in their work.
The Lavaca County Program
Building Committee met in the
N.Y.A. building on the night of
June 12 for a family picnic and
semi-annual meeting.
After the picnic supper com-
mittee reports were given ,and
accomplishments and plans for
continuing progress were dis-
cussed.
Those present were Mr. and
Mrs. J. P. Harbich and grand-
son, Mr. and Mrs. Frank Ko-
cian and Elaine, Mr. and Mrs.
Godfrey Klekar and Elizabeth,
Jim Konvicka, Rita and Jim-
mie, Mr. and Mrs. L. B. Mla-
denka and children, Mrs. Edwin
Pfeil and Sharon, Mrs. Gus
Nollkamper, Norma Jane and
Ronnie, Mr. and Mrs. Frank
Sieber and Barbara, Mr. and
Mrs. G. O. Little, George and
Lester, Mack Wilson and chil-
dren and the three extension
agents.
It has never been more ur-
gent that people be involved in
program building than today.
They are the ones who will
benefit; they will be pleased or
displeased, will profit or not
profit and they are the people
who make decisions about what
the programs will be, who is to
do it, how it is to be done, when
it is to be done, who is to be
served or reached and how re-
sults will be measured.
-:-o-:-o-:-o-:-
Mr. and Mrs. John L. Haverda
and Mrs. Marie Haverda spent
Sunday with Mr. and Mrs.
James C. Haverda and sons in
Kyle. They also formed the ac-
quaintance of their new grand-
son and nephew, little Richard
Martin, who was born June 5.
to your own Prescription
Your doctor’s prescription is handled with the greatest of
care and. understanding of exactly what he ordered for
you. C
Only th»» finest pharmaceutical ingredients are used in
filling his prescription . . . You are assured of perfect
results every time.
We prize our reputation in the community, and are care-
ful to niaintain our standards of quality, dependability,
and service.
QUALITY PHARMACY, INC.
DIAL 4-2262 — SHINER, TEXAS
(Night or Emergency, Dial 4-2265)
FULL MEASURE
of health . . . Compounded
Upcoming Pages
Here’s what’s next.
Search Inside
This issue can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Newspaper.
Sedlmeyer, Lee J. & Sedlmeyer, Mrs. Lee J. The Shiner Gazette (Shiner, Tex.), Vol. 66, No. 25, Ed. 1 Thursday, June 19, 1958, newspaper, June 19, 1958; Shiner, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1172296/m1/2/: accessed June 24, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Shiner Public Library.