Bastrop Advertiser (Bastrop, Tex.), Vol. 114, No. 6, Ed. 1 Thursday, April 7, 1966 Page: 2 of 8
eight pages : ill. ; page 24 x 18 in.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:
t
QUESTIONS and ANSWERS
This column of question* and answers * federal tax
matters is provided by the U S Interna Revenue Ser-
vice and is published as a public service to taxpayers
T^p column answers questions most frequently asked by
taxpayers
BASTROP • TEXAS> AOV1 RTISI It Al'RH. 7
*****
was or more
of the taxable
vt'ai'. >r '.'i self-employment in
cumi" or 3 > separate income such
is wa^i\s. dividends, >r interest
paid t>> her which the payer is
required to report on a return or
statement of information.
If the necessary account nunv
hers are not >n a return the mat-
ching can not be done, necessi-
tating correspondence with the
Q — Is all the interest I «et on or more if sh.
m\ savings account taxable or iwf "e the end
ju>t the anv>unt over $10
A — All >i ur interest must be
reported as taxable in.wne Banks
and other savings instiutions are
required lo report to us the pay-
ments they made of Sl'l or more
to any person during a calendar
year
Q — Do men in the Armed For-
ces have to pay tax on their pay? , ixpayfl„ Failure to includ.- your
A — Unless the\ are serving in wife s number will delay the pro-
cessing of your return and any
the combat zone — Vietnam —
tlieir pay is subject to income tax
Members of the Armed Forces
refund due.
Q — When can I start exclud-
servine in Vietnam or hospitaliz-j jnj, sic[< pay?
rd a* a result of such service, are ,\—There are two rules govern-
entitled to an exclusion from iiross lt1l, vv(ien an(j |U)U much sick pa>
income \11 compensation to en-
mav be excluded front income
listed men and warrant officers f0;. f,.f|t>ral tax purpc ses
for such service is excludable. First lf tl,e amount you rc-
For commissioned officers. 1 h e (V1V(, as sick pay 1S morP than
first S200 per month of such com- -- p,.r (Vnt 0( your weekly rate
pmsation is excludable. ^ ()f pav there is a 30 day waiting
A — The maximum is S.i.01^ peri.nl Ixfore sou are entitled to
when both husband ant' wife a re . ^ sick-pa\ exclusion.
6T> or over and file a mint return jf t).e amount you receive is
if both have qualified for the ere- -- p,.t- cen( or |ess the waiting
dit This tax provision and others ;s 7 days unless you are
that benefit older people are ex- hospitalized for at least one da\
plained in IRS Document No.
S569. "Tax Benefits For Older
Americans." It is available free
*■ local IRS offices.
7 — 1 lent money to a friend
ol .nine He's lost his .job and it
look like he won't be able to pay
me tmek. Can I deduct the amount
I lent?
A — If there is no likelihood
during you absence from work.
In that event, there is no waiting
period. The exclusion is limited
to 575.00 per week for the part of
the first 30-day pi'nod in which
you are entitled to the exclusion
After that, it becomes $100 00 per
week
Q — Last year the amount I
By
UK NT M H.SII>V
Final passage by the House of
the supplemental appropriations
bill with provisions for rent sub
sidy provided the first crucial test
this session of the "guns vs but-
ter"' issue.
Rent subsidy was among the
smallest items on the S-' ."> billion
supplemental bill. There were no
efforts made to trim fluids from
other programs of this measure
l>ecausc large s.ims could not be
cut because the) represented
mone> to pay alreadv due bills on
such things i«s military and civ il-
ian pay raises public matching
assistance and veterans pensions
One vote to retain $12 million
for rent subsidies was 185 to l.V
and was marked b\ nearlv eight
hours of debate.
The crucial vote came on the
motion to re-commit the bill and
that vote failed by a 1!W to 190
margin — a real squeeker. I vot-
ed not to re-commit.
Last year I voted three times
.igainst rent subsidies because the
bill was dangerously written and
CONGRESSMAN J. J. PICKLE
Tenth District T«xo
could have allowed middle income r
or even families with incomes up
to $i;>.00il to a year to pa:
tieipate 111 the program.
That would lia\• been pre[x>s-
terous. and so the bill was re
written to allow ..nl\ tli<>s< fami-
lics with low incomes to l>. eligi
hie The program is also designed
to permit elderly persons and
handicapped person- to live in Ix't
ter ho: sing that would ! • avail-
able in public housing or the
slums The measure will, by no
means, replace th< need for pub
lie housing.
1 was greatly impressed with
tiie fact that thi leader of the
opposition last year Republican
Congressman Jim H irves of Mi-
chigan, rose on the flooi to >a\
that he favored the bill now that
it had Ifc-en re written and tight
ened up.
Tiw "tightening up" )f the rent
subsidy provision was $H million
less than estimated budget re-
quirements — which I felt was
a realistic comprv>mise to the is
sue whether domestic ending
ci r.d l*> trimined sharply at this
time tn cause of rising costs of
t:n war on Viet Nam.
I nner the program, the tenant
would pay 2f> per cent of his 111-
oine toward the market price of
the house or apartmental rental
and the Fcderil Government
wo Id pay the remainder direct-
ly to the landlord.
K.AMTKK IIOI.il>\\
The Congress will recess for the
Faster holiday on April 7. for a
vacation through April IS.
Altlhtigh 1 will I*- taking a va-
cation from my legislative duties
I plan to visit extensively in the
district during tliat time
W \ I t K KHMH IC< t.s A(T
Worthwhile research needs ade
(juate financial |>articipalion t.>
extend over several years so as
to afford adequate opportunity to
pursue promising leads
Hus was the general feeling of
ii .se in the House including
myself — who aproved an anierni
ment to the Water Resources R>
search Act that will provide for
n ad -tjuate national program of
water resource.
I was particularly pleased to
stv the measure r < eive appmv
al. since I had authored a pro-
p sal siinii e t'i the one the Ho se
pissed
The effects >f Ui.s nu asun will
lie so mpiehciiMve that it will
co\. 1 n any every wate 1 shed in
the State
Hie amendment allows an ap
propnat ■ ns of V. million foi the
fiM-al year of l! i7 to the Secretary
of tin Interior to make grants
and to finance contracts with edu-
cational institutions to conduct
water research projects
The University of 1'exas. Texas
AA M I ni\ersity and Texas Pecti
has agreed to join forces to act
as the res. trch facility to conduct
the water studies in Texas.
nus is a vital measure if w«
are to as ure future generations
the same legacy >f natural re-
source- that we enjoy
C %KI> OF IHVSKJ(
We would Ilk. to ,hjJllk|
tors, nurses and
staff for their won.i,.,^ 1
IKvially do we thank
friends for the in.|u,,.,!"
and cards and to r,,; j,
ers and Bill Be. k w,("
blood
Mr. and Mr- p j,
and children
< Utll OK TIIVNK,
We want to expn
thanks to every : VS|.
kind and thiMightHi t, ,M
the illness and d. t ,,
mother Hiank f,,r ,
flowers and w.eds • , „
s|M-ctai ttwink y.^i 1,
land doctors May < „.• .
>f you
Mr and Mrs t,;; j
Mr and M> |
slxl
MRS BAIRD5
f
Stays Fresh Longe
that the debt may be reefwered could deduct for child care ex-
even by going to court then you penses was raised to SHOO Is that
ma\ dKhk-t the amount of the amo nt tin same this year?
loan as a sht>rt term capital loss
This should be reported on Sche-
dule D.
Note that loans to children and
relatives generally are not con-
sidered lecal debts and cannot be
deducted. Should you recover the
amount of the debt at any time
in the future it should be included
in your income, subject to special
rules.
A — Yes Up to $900 may be
deducted when there are two or
more qualifying dependents fo;
which this e\p< nse is necessary
Working wives whos. husbands
are capable of sclf-stiport must
file jointly and must reduce then
deduction by the amount then-
combined adjusted gros> income
exceeds $6,000 A man mav d>-
_ , , duct thes- expenses only if he is
Q — 1 ve got a new job several , , ,,
, , ., . divorced widowed, or legally se-
parated. or if his wife in inca-
pacitated or institutionalized.
hundred miles away from my
home. Until I get my family mov-
ed I've been commuting week-
ends Can I deduct any of these
costs or what I spend on men's
or hotel bills?
A — Your homo for income tax
purposes is your place of employ-
ment In the situation you des-
cribe. it would seem that vou
♦|'i
■ I«I
I.VM) TKWS.WTIOXS
Ivan F Ellis and wife of Bas
would not be able to deduct either 'roP Co !" Howard Simp- 1:1 and
your travel or living costs
If your company had assigned
you temporarily to another locat-
ion. your travel and living ex-
wife of Bastrop Co . lot 1 in block
A of Ellis Sub-division in Elgin.
H. ill. Richards and wife and
Gilbert R, hards and wife of Fa-
pensc costs could well be a de- yettc Co to Laura Mach of lias
luetihle item. Tlus subject is dis- trop Co lots it and 10 in block
cussed at -ome length in Publi- 1-1 of Roger Byrne- Addition in
cation 463. "Travel, Entertain- Smithvilie.
ment and Gift Fx[>enses " A copy L^-n Bastrop Acres Inc to !y>r.
of this booklet mav be obtained • M'ir: ay and wife Tiavis
free at local IRS offices.
Co., lot 29. block 2. Sect.on 1 of
Is there any limit on what l-ake 1', ,- rop Ack s
you can take when you use the
minimum standard deduction?
A — Yes there is The limit is
for married persons filing
separately and $1 00ft for single
Lake Bastrop Acr> s Inc to Er-
nest Pederson and wife of Gal-
v< -ton C lot 31, block 1 .Sect-
ion 1 of Lak< Bastrop Acres
Like Bastrop Acres Inc to
pe-«ons or married < .uples filing Ra.pl I) Minard and wife of
jointly. Harris Co lot 13, hkiek 2 Section
Q — How much can you get in 1 of Lake Bastrop Acres.
dividends before you have to pay Lake Bastrop Acres Inc to Sam-
taxes on them? uel Paul Badgett, lot 2. block 2-A,
A — The first $100 in qualifying Section 1 of Lake Bastrop A< res
dividends is not taxable When Ivike Bastrop Acres Inc to Har-
ooth husband and wife have divi- r>- M. Carr of Travis f'o. lot IS.
dends. then each of them is en- block 2-A. Section 1 of I^ike Bas
titled to exclude $100 from his trop Acres
own dividends, whether they file Lake Bastrop Acres Inc. to John
jointly or separately. H Grant and wife of Harris Co,
g _ My wife was ill for sev- lot 32 block 2. Section 1 of Lake
eral weeks last year and we had Bastrop Acres
to get someone to come in and Amy Pre--sw<)od Ash, indepen-
look after the kid- Can we de- dent executrix of estate of J Y
duct that cost? Ash Si and J V Ash .Jr of
A — The illness would have to Bastrop Co to Reynaldo F Ar-
last at least 9fi days before you redondo of Travis Co., lot 13 of
would be eligible for the child Color a do River Estates.
care deduction Further details on Quiteuiiir. Dee d I/xiis M
this subj^'t may be found on page Henna of \\ llianison Co. to Ciif
9 of the Form 1040 instructions ford L Berglund of Bastrop Go .
and in IRS Document No. ."<,H40 square feet in Tobin Addit-
"Child Care " These publications ion of Smithvilie
are available at no charge from Quitclaim Deed — Inland II
local IltS offi'*'**. The provisi'ins F.isliop of Mcl>ennan Co. Li la
nf law regarding this deduction Wl.1t1 of Tarrant Co . Mildred
are quite technical and the in Bland of Mclennan Co . a n d
structions should lie obtained and Maggie B Guy ton of Bastrop Co.
studied before claiming any child to Clifford I. Berglund of Bas
rare expenses as a deduction trop Co , a.H-10 square feet < it of
Q — I priid up the mortgage on Tobin Addition of Smithvilie.
my home early but wa- charged Alex Waugh and wife of Bas
a pre payment jienalty Is that trop Co. and Rie Booth of Tra
deductible? vis Co. to Howard Ebner, lot 6
A — Yes it is deductible as in and 1 in Pa strop Town Tract and
trest if you itemiz< your fk^luct- part of Building Block 3, East of
ions Main Street iri Bastrop
Q -- Why is my wif< s Social Earth'-n Products Co of Har
Security numlier « . important on n Co to Milton Mutschink and
a joint ta> return? M'^t of thejwili of Bastrop Co . 122 acres out
inc«>me comes from my salary.
A — According to the law. your
wife should sliow her account
of T Dromgoole Survey
F'ram ..v*> Sanchez and wife of
Mitchell Co to Ricardo C Alva
numliei on yrKir joint return if rado and wife of Bastrop Co,
sh. had 1i separate gross in- pari of Twelve Acre Farm I/>1 13
come of VtfiO or mon or $1200 Fas' of Main Street in Bastrop
Cokes
carton
iii
iHMHni
WESSELS
BASTKOP, SMITHVII.I.
196'. ^
4
i>9
p ■
♦•J
At
Ww
*r
EASTER
EGGS
pound
29c
HAPPY EASTER
ANNIVERSARY
FRIDAY & SATURDA1
li. Ol XI III (
Orange DRINK
III I MIIN II CIM M i l I
i;u-1 m \ 1 1
25c C S CORN
£
Rath Shankless Cured Smoked
TUICE
111'. I\
r
48 oz 35c FLOUR
2
25 lb s: 3
W
III I MOM I
CATSUP
i \1 in\ so 1 v n
20 oz 25c PEACHES
Pinto BEANS 2 lbs 29c
2
HAM
NAM
1/2 or Whole
Per Lb
CANNED
Rath 3 lb.
35'
>3.45
>\ii« imirt
SHORTENING 3 lb 59c
KIMHI I I S \l. Ml
DRESSING
qt 29c
KIMItl I I
Peanut Butter 12 oz 35c
KIMItl I I I I. M||
PRESERVES 18 oz 35c
« ill 11 i i mil i mi i i
TISSUE 2-roll p^kq
«.I Itll \ |{II ? s
TAMALES No 300 :i|
Itl II MM I sijl Mil
Mellorine 1/2 gal 35
MI IM III M Itl > Ml
PEAS No 303 2 3
I ItKSIl DIIF.SSM)
1*1 M Ml
32
i
MMCKISl I |i.|| I i; (^n
Chunk TUNA
SSOW VI. \K KICINKI.I i C T
I'; 1,1)
I'OTATOKS 2 M
CHICKEN HACKS .
SI I. M;\ > \M
2/69c YAMS
2 4i
— V':B Ji
. .).ir
I \ M ItEs i; OuiM'c
y] LETTUCE
k| BANANAS
FLOUR 1SS?
PRODUCE
Glddiold
ORANGE JUICE . . 2 for Mc
5 lb bag
49*
head
10r
2 lbs
25c
lb bag
39
10 lbs
49c
lb
10
V
'1
A
({t}| ORANGES
mmi m
r% Av j
[<■>}](<
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.
Standifer, R. E. Bastrop Advertiser (Bastrop, Tex.), Vol. 114, No. 6, Ed. 1 Thursday, April 7, 1966, newspaper, April 7, 1966; Bastrop, Texas. (https://texashistory.unt.edu/ark:/67531/metapth238099/m1/2/: accessed July 1, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Bastrop Public Library.