Tips On Reducing Federal Tncome Tax Bill
i RALEIGH—You have until
iPfcemher 31 to reduce your,
Stt2 federal income tax bill,
Says the North Carolina
Association of CPAs. And one
Area that could provide
Significant end of year deduc
tions is medical expenses.
B Not all medical expenses
San be deducted. Only those
|fxpenses not reimbursed by
§nsurancq or health plans
Qualify. The total must be
Reduced by three per cent of
B'our adjusted gross income.
3Jut, since restrictions gover
ning deductible amounts
Sighten for taxable years after
£1962, paying as many medical
;yosts as possible now takes on
s&dded importance.
j| Allowable deductions for
gnedical expenses include in
surance, medicine and drugs
pis well as doctor and hospital
-bills, travel to and from doc
tors’ offices and special equip
anent you need for health
rjfcare. You can deduct half
Syour insurance payment up to
total of $l5O. (Any excess is
with other
care costs and sub
jected to the three per cent
Reduction). Medicine and
SBrug costs are first reduced'
3by one per cent of your ad
justed gross income (AGI),
sand then totaled with your
pother health care costs.
Beginning in 1983, however,
jnedical expenses must ex
ceed five per cent of your AGI
§fo be deductible. For the fami
ly in the example, that means
: ~an increase of $560 to a floor
£pf $1,400. Insurance
Ipremiums will no longer
pflualify for a separate deduc
(JOHN DOWD j
& ASSOCIATES, INC.
INSURANCE
ll* ★ ★ ★ ★
CALL FOR ALL YOUR
INSURANCE NEEDS
AUTO HOME LIFE
HEALTH COMMERCIAL
REAL ESTATE
f X CURRENT LISTINGS: 1
MEXICOROAD:
Attractive Brick home featuring living room, den-kitchen, (with
fireplace), three bedrooms, two baths, utility room, garage.s49,ooo.
MORGAN PARK:
Lovely brick home with living room, huge den (fireplace), rec
room, kitchen, three bedrooms, two baths, screened p0rch.572,500.
RIVERTON:
Attractive brick home on large lot. House has living room, den,
kitchen-dining, three bedroms, two baths $62,000.
ALLENDALE:
Nice brick home in good location. House features living room, din
ing room, kitchen, utility, three bedrooms, two bath5....555,000.
Beautiful lots on Albemarle Sound.
ARROWHEAD BEACH:
2 Bedroom home with kitchen, den, and glass patio
CAPE COLONY:
Mobile home located on 3 lots, fenced-in swimming pool. Excellent
buy.
WESTOVER HEIGHTS:
3 bedroom frame home. Owner financing available.
COUNTRY CLUB DRIVE:
Ranch style home, rustic cedar sides, 3 BR, 2 Baths, great room,
fireplace, deck, dining room, eat - in kitchen.
QUEEN STREET EXTD.:
Brick 3 BR Home, V/i Bath, LR, Den, 2 Fireplaces, Central Air
& Heat.
N. C. 32:
Block Bldg., 2 Acres Land, Mobile Home Included.
HISTORIC DISTRICT:
2 Story, 3 Bedrooms, 3 Car Garage, Fireplace, Floored Attic, Chain
link Fence, Excellent location.
HISTORIC DISTRICT:
4 Bedrooms, 3 Baths, 5 Fireplaces, Livingroom, Dining Room, Eat
ln,Kitchen, Laundry room. Woodburning Stove. Included, Studio
Apartment.
OTHER LISTINGS:
60 x 12 Mobile Home, Well Constructed & Insulated. Excellent Buy.
Various Home Sites & Commercial Property Available.
CAPE COLONY AREA:
Mobile Home on Large Lot, Rear Deck & Screened Back Porch,
New Spacious Garage-Workshop.
COUNTRY CLUB DRIVE:
Excellent Waterfront Property, Sandy Beach, 2 Boat Slips, 3
Bedrooms, 2Vi Baths, Great Room, 2 Car Garage.
CHOWAN BEACH:
Neat 2 Bedroom Home, 3 Out Buildings, Chain Fence, Large Lot.
Priced to SELL.
ROCKY HOCK:
Double Wide Mobile Home on Large Lot, 3 Bedrooms, Den, Dining
Room and Livingroom.
ES ■* ohn Dawn Whitt.
Beverly Morris
482-2101
14 S. Broad St. Edenton, NC 27932
tion, so you might not be able
to recover any of the cost of
your premium.
After 1983, you won’t have
to reduce medicine and drug
cost in with other medical ex
penses. Only prescription
drugs and insulin will qualify,
however.
CPAs advise that to get the
most medical deductions
possible, plan your medical
expenses for 1983 and move as
many as possible into 1982.
Perhaps you can schedule
(and pay for) checkups and
other routine work in
December. If possible, you
might wait until January of
1984 for your next series of ex
aminations and then have
them done again in December
of that year.
Or, if you prefer to undergo
checkups annually, look for
other medical expenses you
can shift for tax purposes.
Voluntary surgery and the
purchase of eyeglasses are
costs that you can schedule
for your convenience. You
can also prepay some con
tinuous care costs, such as
January’s nursing home bill
for a dependent parent. If you
and your spouce are expec
ting a child early next year,
you might want to complete
payments to the doctor now.
While married couples
generally don’t benefit from
filing seperate tax returns,
extraordinary medical ex
penses incurred by one
spouce might make filing
separately beneficial.
‘ If you file separately, you’ll
lose the five per cent marital
deduction this year. The
percentage of the income of
the lower earning spouce can
only be claimed by filing a
joint return.
With the increased floor for
medical expense deductions,
beginning in 1983, you might
expect to lose these deduc
tions entirely. If you do, CPAs
suggest you review your
medical insurance coverage
and, possibly, increase your
premium to give you a lower
insurance deductible. An ex
tra SSO premium per year
might cover the tax deduction
you’ll no longer receive.
An Addition
To A Tradition
There’s a break occuring in
the tradition of Christmas
Seals this year.. .but it’s an ex
citing departure; For the first
time in the history of the
American Lung Association’s
Christmas Seals, there are
matching gift tags included
on the 1982 Christmas Seal
sheet.
As traditions go, the
Christmas Seal is a
youngster. In just 75 years,
this tiny symbol of hope and
health has become an integral
part of the holiday scene. Yet
on December 9,1907, when the
first Christmas Seal was
issued in the U.S., many scoff
ed at the idea of fighting
disease with a piece of paper.
The first Christmas Seal
was created by Emily Bissell,
a social worker, to keep open
a small tuberculosis hospital
in Delaware. She designed
and produced the seal herself,
hoping to raise S3OO. Her drive
netted $3,000.
Good ideas spread rapidly.
For the next few years, the
American Red Cross helped
the fledgling voluntary health
agency now known as the
American Lung Association
sponsor a nationwide
Christmas Seal Campaign. By
1920 the new agency was able
to carry on alone, and the red
cross on the seal was replac
ed by the red double-barred
cross.
United by this emblem, and
the support of generous, con
cerned Americans, the
Christmas Seal People now
work to control emphysema,
asthma, chronic bronchitis
undother lung-diseases, while
.efforts to
eliminate TB from those,
areas where it still is a threat.
The American Lung
Association with its new
Christmas Seal designs
featuring the gift tags as well
as the red double-barred
cross, expects the 1982
Christmas Seal Campaign to
raise about 75 per cent of the
Association’s operating funds
for next year.
For more information on
Christmas Seals contact the
American Lung Association
at 752-5093.
Opinions
Continued From Page 9-A
federal highway dollars next
year, if more state money
isn’t found in the coming
legislative session.
Last week in his regular
news conference, the gover
nor agreed that the money is
needed. But, and who can
blame him, he said it would be
up to the legislators to find the
money. Frankly, according to
aides, he’s going to concen
trate on finding some money
for the state employees that
have been on hold for awhile.
Another horrendous debate
seems on the horizon.
Yet in Washington, much
like the cigarette tax, a nickel
a gallon can fly harmlessly
onward (and upward).
Don’t misunderstand, cer
tainly it isn’t bad to be so
tough and penny-pinching
with state money. But if our
state legislators are doing it
right, what about the boys in
Washington?
You can save space in
the kitchen with a ■ carou
sel type canister that stores
nine and a half quarts
yet uses no more counter
space than a dinner *>>ate.
Solar Energy Greenhouses In N.C.
Within a few miles of the
Durham City limits, Tim and
Helga MacAller operate their
Four Leaf farm. They grow
herbs and vegetables, and
have a few goats and
chickens. Between the oak
trees and behind the white
farm house, you can see a
freestanding solar
greenhouse. With the help of
friends and a few contractors
the MacAllers built the 15 by
60 foot commercial greehouse
in one year’s time, for less
than $4,000.
Completed in February
1982, the Four Leaf Farm
greenhouse worked well for
the remainder of the winter.
The coldest temperature the
MacAllers recorded in the
greenhouse was 38 degrees
F., and that was after four
cold cloudy days.
Because the greenhouse
passively stores solar energy
in the thermal mass within
the building, it needs no out
side energy source to main
tain above freezing
temperatures. In addition to
the thermal mass of the con
crete block walls and the ten
tons of gravel on the floor, the
MacAllers added 20 drums,
each filled with 55 gallons of
water to help store solar heat.
Insulation and orientation are
the other main features
distinguishing the Four Leaf
Farm greenhouse from tradi
tional commercial
greenhouses. The north, east,
and west walls are all in
sulated to prevent solar heat
from escaping. The
greenhouse lies with its length
facing south so that over 600
square feet of glazed area
allows sunlight inside to be
absorbed by plants and ther
mal mass. The south facing
glazing lies at 50 degrees
angle while the north roof
joins it at a 40 degrees angle.
TG’^y 5 famity centers SHOPRNGCE^j^^jI
TG&Y's policy is to always have advertised merchandise adequate supply .hour. sices 'n the svent the adverhsed mermand.se s not ava.iaoie due to imforseen reasons TG&Y w.li provide a Rain Check upon request m order that
the merchandise may be purchased at the ■.« >■ ; 're when .t bee omes available or you may purchase similar quality merchandise at a similar puce reduction u,s the policy of TG&Y to see that you are happy w.m your purchases •It is
TG&Y’s policy to he priced competitively m »>e h>x.-i Regular Sale Prices may vary market by market, but the sale price w.il always be as advertised *W«* will be happy to ie'und your money ,t , OVJ are not satisfied with vour
purchase. VISA* and Master Card * accepted 1
YOUR KEY TO - - "
ToiwHDMflQic
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«r £7 *BS?- i®i>«
Blue Boy Car/Truck Wash Quick Sand Game Bye-Bye Diapers
mm% *8 97 -~ *|f|#jJ
ru Pressman Picture Guess Who? Game
Tri-Ominoes Ga • Ree,^^^g^sg 9 71
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piay-Doh rl Annie Doll «**'■” 1
Construction Set o eg. 10.99 e HI
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r Keg. 9.88 Q Reg. 9.69
Hence, the south roof is ac
tually larger in area than the
north roof. This allows for
more solar grain and less heat
loss.
By reusing building
materials such as fiberglass
roofing, the MacAllers kept
costs down and reduced the
amount of energy that it took
to build the greenhouse.
Perhaps the most unique
thing about the appearance of
the greenhouse is the arc
shaped glazing. Although the
framing on the south side con
sists of a short vertical wall
and an angled roof; the actual
layers of glazing are litteral
ly blown out in an arc shape
by a small (1/120 h.p.) fan
which continually pumps air
between the two layers of UV
resistant polyethylene.
The air gap between the
layers serves to help insulate
against heat loss while at the
same time allowing solar
energy to pass through. If a
power failure occurs the glaz
ings sags but continues to seal
in heat. °
To ventilate the greenhouse
for warm weather operation,
the MacAllers employed five
28 x 36” operable vents on the
south knee wall, and two 18” x
40” vents on the peaks of the
east and west walls. All of
these vents open and close
automatically by
temperature controlled
mechanisms. When convec
tive air flow through the vents
does not bring the
temperature low enough, a
thermostatically controlled
A snail travels at the rate
of .003 miles per hour.
exhaust fan turns on moving
as much as 3,000 cubic feet of
air per minute thru the
greenhouse.
The MacAller’s use the
greenhouse for producing
bedding plants and vegetable
starts in the spring, high
value vegetables (tomatoes
and cucumbers) in the fall,
and forced bulbs in the
winter. This sequence allows
them to use the greenhouse all
year without back-up heat
source.
If you would like more in
formation about the
greenhouse which was par
tially funded by the Dept, of
Energy Appropriate
Technology Small Grants
Program, contact Tim
MacAller at The Four Leaf
Farm, Rt. 5, Box 641 Durham,
N.C. 27704, ph. 919-596-9287.
OPEN SUNDAY
Ladies Wear Toys Mens Wear
Cuthrell’s Dept. Store
302 S. Broad Street
Edenton, NC Ph. 482-2428
Class Reunion Was Held
The Merry Hill High School
Classes of ‘54, ‘55, ‘56, ‘57 and
‘SB held their first class reu
nion on November 27 at the
school which is now called
Lawrence Academy.
Master of Ceremonies was
Billy Turner, who welcomed
the classes and introduced the
class representatives. The in
vocation was made by Robert
L. Britt. Billy Bamacascel in
troduced the special guests
who were: Mr. James P.
Love, principal; Mrs. Bertha
Barnacascel, teacher; Mrs.
Frances Hoggard, teacher,
Mrs. Elizabeth Smith,
teacher; Mrs. Lillian Pruden,
teacher; and Mrs. Alice
Evans, lunch room dietician.
They gave some comments
about the school years in the
past.
The class representatives
were John K. Pierce, Jr.,
1954; FayT. Bateman, 1955;
Jerry Eugene White 1956; L.
Gary Taylor, 1957; and Billy
Barnacascel 1958. They each
gave remarks about their
high school memories and
presented their class
members.
The class members made a
tour of the school and receiv
ed a book containing all of the
members names and ad
dresses which will make it
easier to stay in touch.
Card Os Thanks
I wish to thank everyone
who congratulated me for the
calls and the letters I
received, and the business
messages I received. Also,
thanks to my many
customers. I pray that God
will watch over us all and the
business 1 run. I hope to keep
on with the help of others.
Thank you,
Alice Ward
Dec.l6,chg.b