Newspapers / Winston-Salem Chronicle (Winston-Salem, N.C.) / Jan. 11, 1975, edition 1 / Page 5
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January 11, 1975 v I nn i ?P! B m ~ 'T "~ ..... ' ... '. - " - - - ? ? anticipating on income tax refund and for others to face the untimely cash drain of having to pay taxes. Responsible tax planning during the year can take the edge off the IRS, April 15, sword. Although the year 1974 is history, there are still measures that can be taken to ease the pain of a payment and heighten the joy of a *" refund. To help you do just that, here are a few tax tips for vne individual. Early assembly of your tax information will mean a quicker refund or will give you a longer period of time to budget for the amount owed ?-- the Internal Revenue Service."^ Some important due dates to remember are: Jan. 15th-Final 1974 "estimation day" for individuals. Pay all of unpaid estimated 1974 tax, making any final adjustments. Jan. 31st-Individuals may C5I? r?^1 1 rtli me imai 17/H income lax return instead of filing Jan. 15th estimate. April 15th-lncome tax and self-employment tax returns of individuals for calendar year 1974. Individuals estimation day. File declaration and pay 1/4 of 1975 estimated tax. The FICA tax rate for 1974 is 5.85% applied to wages through $13,200. If you have more than one employer and your FICA deducted exceeds the maximum of $772.20, then you are entitled to a credit against your tax liability. For the year 1974, each exemption is worth $750. If requirements are met an exemption is allowable for each the taxpayer, taxpayer's spouse, dependents, blindness; and age 65 or over. I Jo lifts Stftti I * A Specialized Sten for: Professionals, Churches and Lay: Let Us Do Your T' SI Phone: (919) 72^ Winston-Salem. s On 1 b.v Charles T. Byrd Jr. - ?? * ?*-*~sr?= '__ ,_^ 1 '' . - -.J-"-* dual taxpayer may take in lieu of itemizing his personal deductions. There are two forms of the standard deduction the percentage standard and the low income Allnu/iifirp An 5 n H W/5 A u *% 1 * ? ... v .. a ? a IIIUIT lUliai O standard deduction for 1974 is the higher of (1) low income allowance of $1,300 or (2) 15% of his adjusted gross income up to a maximum deduction ol $2000. Instead of the standard deduction the taxpayer may itemize his personal deductions. These include alimony paid, charitable contributions, tax/taxes paid, interest paid, Homeown rp? r? . iu rrui BE ALERT for unusual activities. If you see an unknown person loitering in or around a neighbor's yard, don't be afraid to check their identity with your neighborly phone. CLOSE GARAGE DOORS whether at home or away. Opened -- and empty usually indicates an empty home, and often allows easy access to cellar or entryway, unseen from the street. SECURE PATIO DOORS. They should lock from the inside...but a strip of wood placed into the inside track will prevent sliding the door nnpn frnm v^/vil A A VIII VUiiJIVIVl _ USE LIGHTS EFFECTIVELY. Leave several burning in different parts of the house when you go out. Outside, entrance lights and post lights illuminate possible hiding places around your house. . . o Services I ographic Service Businesses, industry nen. yping I 1-2282 or 722-8624 I N.C. 27105 I ?- . .. |?-7TH-T-y 8K The Winston-Salem Chronicle axe& | dues. If your income is less than $8666.66 and your deductions are greater than $1300 then itemize. Also you should itemize if your income is in between $8666.66 and $9999.99 and personal deductions are more than 15 per cent of adjusted gross income. If 2 ! ai yuur mcume is less man $10,000 and you didn't / don't/ meet the test to itemize then use the Optional- Tax Tables. It is important to remember to keep adequate records to substantiate your expenses so .if you are subjected to a tax audit your deductions will be allowable. ers Guide ection STORE LADDERS INSIDE. Don't leave them loose outside. If you can't out it m ' safely inside, lock it securely. Suggest your neighbors fol' aw this rule of ladders, too. PUT THINGS AWAY. Don't l^ave articles on sidewalks, lawn or porch in areas easily assessible to the general public. WHEN WORKING IN ATTIC OR CELLAR, or anyplace away from the main area of the house -- LOCK UP! SECURE ALL ENTRANCES at night and when leaving... including cellar doors and windows, garage doors, sun deck and porch doors, etc. 41 CUST< IMS Phone your order in to: The W _ 2208 _ ? ? ? Page 5 our bed_ on toward the ^^^^S^M__kingdom, go ahead. St. John from B -VH that our adversary the devil is ? Igoing about seeking whom he BP may devour. Don't give up hope but press on toward the 4 % ? -* kingdom. God Bless you in the By Evangelist l?af truth ti, the next time> Cunningham . . C* <* ... He that beiieveth on mo. We, that are saved, are as hath said, children of the King, let us not out of his*belly shall flow be moved in times like these. rivers of living water. Remember Jesus is making up ? ? Read Winston-Salem Chronicle newspapers m B T fl- f ~ ? !lajvk ior xne kc,u KACK.S downtown! I Also on sale at the following locations: B Bantam Food Market ...835 Northwest Blvd. 1 iModel Pharmacy ...1225 East Fifth St. 1 Rose borons Fish Market ...843 N. Liberty St. V J & J News Stand I Winston News Stand ...638 W. Fourth St. a Die House of Rhasaan ...342 S. Claremount Avl Skipper's Grill ...426 N. Liberty St. f McMillan Minit Markets ...Jetway Shopping Ctr.l & N. Liberty | I The Winston-Salemj I Chronicle I ^Phone^722^8624^j NOW AVAILABLE!! - Bi;s incEE Cards J " I REDUCED usiuess COST! _ Stop by our office fl ft Btjlfl and look through our rataIno 1 6 DM-DESIGNED CARDS ETS OF 500 Oft 1000 inston-Saiem Chronicle Patterson Ave. Phone: 722-8624
Winston-Salem Chronicle (Winston-Salem, N.C.)
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Jan. 11, 1975, edition 1
5
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