The Bartlett Tribune and News (Bartlett, Tex.), Vol. 79, No. 11, Ed. 1, Thursday, January 13, 1966 Page: 2 of 8
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-PAGE TWO '
Thursday January 13 1966
THE BARTLETT TRIBUNE
Harriett Texas
Answers To
Questions On
Income Tax
This column of questions and
answer on federal tax matters
is provided by the U. S. Inter-
nal Revenue Service iind is pub-
lished as a public service to tax-
payers. The column answers
questions most frequesntly ask-
ed by taxpayers.
Q My Boss told mo that if !
I knew how to take dictation
I'd be promoted to secretary. If
I took a night course in short-
hand would the cost be tax de-
ductible? A No it wouldn't in your
case. Educational expenses in-
curred primarily to get a better
job do not qualify. Expenses
incurred for an educational
course expressly required by
your employer to keep your
present job are deductible.
Q How do you tell when
an expense is deductible as a
business expense?
A The tax laws lays down
general guidelines on this sub-
ject. To be deductible the ex-
pense must be ordinary and
necessary in carrying on a
trade or business or for the
production or collection of in
come or for the management of
property held for the product
ion of income. In addition the
expense must be directly re
lated to the income producing
property and the income must
bo taxable income.
To illustrate this last point
the cost of renting a safe de-
posit box to hold taxable bonds
is a deductible expense. But if
the box holds only tax-free
bonds the law will not allow
you to deduct the expense.
Q I've made a sizable con-
tribution to my church's build-
ing program. How do I handle
tins deduction for tax pur
poses I
A If you itemize your de-
ductions you may deduct your
contribution on your tax return
for the tax year it was actually
paid. You may deduct up to 30
percent of your adjusted gross
income for the total of this con-
tribution and your 'oliheP con
tributions made during the
year to churches and certain
other tax-exempt organizations.
If your total contributions to
these organizations exceed 30
per cent you are allowed to
deduct the excess on your re-
turn for the following year.
The deduction is explained in
a pamphlet Contributions In-
ternal Revenue Service Docu-
ment No. 5053 Which you may
obtain free from your Internal
Revenue Office.
Q Can you tell me which
expense item appears most
often on individual income tax
returns? Also what is the over-
all total of this deduction?
A Taxes paid have been
the most frequently claimed
deduction in recent years. For
the latest year on which we
have such figures 1962 a total
of $13 billion was claimed by
taxpayers as deductions for
taxes paid.
Q My twelve-year old son
just opened a savings account
with the money he made from
his paper route. Does he need
a Social Security number for
the account or should he use
my number since he is a minor?
A Since your son not you
has earned the money used to
open the account he is required
to apply for his own Social
Security number. Form SS-5
used to request a number may
be obtained from your local
IRS or Social Security Office.
Q With all the talk about
reasonable tax administration
how can the Internal Revenue
Service justify its refusal to al
low parents to deduct the coat
of giving their children a col-
lege education? With things as
tney are a college education
.has become a necessity.
A The tax laws which
are enacted by Congress do
not permit parents a deduction
lor their children's college ed
ucation. The responsibility of
the internal Revenue Service
is to administer existing laws in
a reasonable manner.
Congress however has been
considering the possibility of
granting a deduction for this
purpose.
Mr. and Mrs Cecil Overby
were in Martindale Friday
visiting with their daughter
and son-in-law Mr. and" Mrs.
Jack EJJSfi and family.
Self-Employment
Tax For Farmers
A majority of farmers and
ranchers in this area must pay
a federal self-employment tax
for 1965 A. P. Andrews ad-
ministrative officer of Internal
Revenue Service Temple re-
vealed today.
Ho said the rato of self-em-
nlovment tax for the taxable
year of 1965 is 5.4 percent and
is in addition to any income
tax payable.
Under the federal Social Sec-
urity law Social Security taxes
aro paid by employees and
their employers and the self-
employment tax must be paid
by persons who are self-employ.
These taxes are used to
pay old-age survivors and dis
ability benefits under tho fed-
eral Social Security program.
Ap self-employed peison is
onetwho operates his own busi-
ness?. and therefore a farmer
or rancher who operates a farm
Or ranch either on his own land
or rented from someone else is
considerel self-employed. This
is true even though he may
employ someone else to do the
work and does not live on the
farm or ranch himself.
Farmers and ranchers must
file federal income tax returns
an dpay any self-employment
tax due oven though they owe
no income tax. but no self-em
ployment tax is due unless net
earings from self-employment
amount to S400 or more for tho
year. However farmers who
have actual net earings from
the operation of their farms of
less than $400 may under cer
tain circumstances elect to pay
the self-employment tax may
qualify to receive benefits un
der the Social Security system.
Farmers with tax question
should have a copy of the free
official publication "Farmer's
Tax Guide" which is available
from Agricultural agents or
from any IRS office.
mmm
MOVIES IN THE
COURTROOM
The jurors were duly im-
pressed when the attractive
young plaintiff described tho
leg injuries she had suffered
in an auto accident. She was so
crippled she said that she was
forced to wear low heeled
shoes at all times.
In short order the opposing
attorney called for tho court-
room to be darkened for a
movie. Taken secretly the
movio neatly punctured the
j donee. Authenticity and accu
racy oi uiu ijiiih must uu piu-
ven. Relevancy to tho issues
must bo established. The trial
judge may at his discretion
rule out films that don't meet
these tests.
In one case n film of a
stretch of highway was offered
to show that the injured pedes-
trian should have been able to
see the oncoming car.
However it turned out that
the picture was made in the
wintertime when intervening
trees were bare of foliage. Sin
the accident happened in
Emil Raeko has returned
from a weeks visit with Mr.
and Mrs. Gene Raeko of Heid-enheimor.
Mrs. Dick McCarver Jim
McCarvor and Mr. and Mrs.
Roy Hincs were in Austin Sun-
day visiting with Mr. and Mrs.
E. E. McCarvor.
ce
tho summertime when tho
trees were in full bloom the
film uas excluded by the jud-
ge. But with legal safeguards
movies have an important role
plaintiff's claim by showing gny in the coiroom Like
her arriving at a party wear-
ing extra-high heels.
Courtroom movies have
found their greatest use in de-
flating injury claims that aro
e;ither false or exaggerated.
However they have also pro-
ved useful in establishing
claims that are valid for in-
stance by clarifying the con-
ditions that led to an accident
or by demonstrating the effects
of an injury.
In fact movies are so reveal-
ing that though offered by one
side of a lawsuit they may aid
the other side even more.
For example in disputing
the claim of an injured boy
tho defense showed movies of
him playing baseball to dem
onstrate that he was still able
to take part in sports. But the
movies also showed more
poignantly than words tho
handicaps he did suffer in
chasing fly balls and running
bases.
Of course tho law's concern
is not which side is helped but
whether justice is served.
There is real danger in the very
fact that movies are so per-
uasive for they may influence
a jury beyond fair limits.
With that danger in mind
the law insists on careful con-
formity to the rules of cvi-
many other scientific develop
ments they open new paths in
tho law's search for truth.
A public service feature of
the American Bar Association
and the State Bar of Texas.
Written by Will Bernard.
Miss Laneta Steglich spent
the week-end in Holland with
Miss Daine Surovik.
Mr. and Mrs. Bud Cowsart
and Mr. and Mrs. James Sky
all of Austin and Mrs. Minnie
Heiso were visitors of Mr. arid
ivira. vvitiiur x-uauuui. feA1
Luncheon Club
To Meet Friday
The Bartlett Businessmen
Luncheon Club will mefefctfnfi
tho Pfirflnff. Pnfn TMrlnv nTtVJ
tinnn. flHnr'A?
j3BfL
All members aro urged to bo'
present.
Eugene Noack of Ft. Worth!
visited relatives and friends!
hero and in Holland during thoj
week-end.
IT COSTS A LOT
MORE TO DRIVE
THAT NAIL
TODAY
m
Week-end visitors of Mr.
and Mrs. A. C. Moore were Mr.
and Mrs. Ewell Holt of San
Antonio Mr. and Mrs. Stewart
Carpenter of Austin Mr. and
Mrs. Roy Renick of Belton and
Mr. and Mrs. M. E. Thorpe.
I
Miss Suzanna Pumphrey and
Bob Bunker spent Sunday with
her parents Rev. and Mrs.
Homer Pumphrey and family
in Clifton.
Week-end guest of Mr. and
Mrs. Lyndel Wallace and
Tanya Rae were Mrs. Mandy
Spain and daughter Linda of
Dallas.
Jf
THAN IT DID
10-15 YEARS
S&6? AGOl
Samo goes for all building costs. If you
Ar'1 Twi "w IIIWIII lUWUIIII II ivlll .vivrf
your breath away to soo how exponse hac
gono up.
It's just good business to raiso your sights
whon it comes to tho firo insuranco on your
home or business. Wo can bo helpful to you
in determining the right amount.
SAAGE INSURANCE AGENCY
PHONE LA 7-3337
BARTLETT
s
Charter No. 5422
a 'K. -: c
Report of Condition of the
FIRST NATIONAL BANK
of Bartlett in the State of Texas
at the close of business on December 31 1965
Published in response to call made by Comptroller of the
Currency under Section 5211 U. S. Revised Statutes
ASSETS
1. Cash balances with other banks and cash
items in process of collection 445490.78
2. United States Government obligations direct
and guaranteed 715390.45
3. Obligations of States and political
subdivisions ;.'.'. 136284.50
7. Loans and discounts 981113.65
8. Fixed assets '. : 18385.00
11. Other assets 8700.00
12. TOTAL ASSETS 2305364.38
. WINTER
StO
Itup
IIH 4-46 0z. fggSZ 3Np.P 25 3 - 46 Oz.
Mm Cans & Cans Cans
US I Efb He iBf 1
LIABILITIES
13. Demand deposits of individuals partnerships'
and corporations -?r.;t...JP. 1348582.75
xt. iime anu saving deposits oi inaiviuuais
partnerships and "corporations .;
15. Deposits of United States Government ;
16. Deposits of States and political subdivisions
18. Deposits of commercial banks
19. Certified and officers' checks etc
20. TOTAL DEPOSITS $2042954.77
(a) Total demand
deposits Sl.656.459.97
Total time and saving" .
deposits $ 387494.80
313382.64
8854.26
869535.82
1915.56
684.24
A
(b)
25. TOTAL LIABILITIES '.:. 2042954.77
JL
26(ci)F
x
CAPITAL ACCOUNTS
t
Common stock total par value 100.000.00
No. shares authorized 1000
No. shares outstanding 1000
27 Surplus 100000.00
28. Undivided profits '. 51000.00
29. Res.erYes
fffM'
Jl.409.61
4
30. TOTAL CAPITAL ACCOUNTS
262409.61
81.
TOTAL LIABILITIES AND
CAPITAL ACCOUNTS 2305.864.38
i.
I. Ben Parnell Executive V. P. & Cashier of the above-
named bank do hereby declare that thio report of condition is
true and correct to the best of my knowledge and belief.
Ben Parnell
We the undersigned directors attest tho correctness of this
report of condition and declare that it has been examined by
us and to the best of our knowledge and belief is true and
correct.
Vernon Lemons
W. F. Blair
E. B. Ware
Directors
w
CATCHUP
14 Oz.
Bottles
hmm$
SI
FRYERS CutUP33cLb ZiqIC
Chuck Steak Pound 49c
Beef Chops Pound 49c
Ground Meat Pound 39c
Beef Ribs Poundfr 29c
ELGIN SOLIDS Ifc O)
OLEO i... M oSc
msm
5 No.
303
YklL
fflm
g&
v
5 &F:m 5 N '
flS r WmM 303
Can IflfeuitfB H CanS
$1 um SJ;
Rosedale Apricots 5 No. 303 Cans $1.
Rosedale Spinach 2 No. 303 Cans 25c
Libbys Peas 5 No. 303 Cans $1.
Scott Big Roll Towels 3 Rolls $1.
2 Scott Tissue 9 RoUs $1.
LILY-
ICE CREAM
lGallon ....
D5f 3
to
FAB
Giant
Box ..
59c
FAULTLESS SPRAY
STARCH
2
Cans
69c
Peanut Butter Chips Pkg 19c jl
Lucky Whip Topping Pkg 19c
Gladiola Cake Mixes 3 Boxes. 79c
" $
ADMIRATION
COFFEE
Lb.
Can
69c
POTATOES
10
Lb.
Bag
39c
Cranberries Lb. Box 19c
Tomatoes Pound . 19c
Nabisco Graham Crackers Lb. Box 33c
Specials Thursday - Friday - Saturday January 13-14-15
J
Daudes
Cash Gro.
BARTLETT
?r
MY - T - FINE
PUDDING
Box
&
5c J
Kl
1
S -
I
Mi
'HH&
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Ford, Robert C., Jr. The Bartlett Tribune and News (Bartlett, Tex.), Vol. 79, No. 11, Ed. 1, Thursday, January 13, 1966, newspaper, January 13, 1966; Bartlett, Texas. (https://texashistory.unt.edu/ark:/67531/metapth82134/m1/2/: accessed July 9, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Bartlett Activities Center and the Historical Society of Bartlett.