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Prominent feature
These grain storage bins loom over the horizon in the Bethel area of Hoke County.
Chfeck out door-to-door pitches
When someone raps on the door
with an offer you can't refuse, take
a few minutes to think it over. It's
true that many good products are
sold door-to-door. It's also true
that some salesfolk can be a prob
lem.
If you're thinking about buying
something expensive, such as an
appliance or house repairs, take
your time.
If the sales person convinces you
that you really do need this pro
duct, check with local dealers first.
You may find you can get the same
product locally at lower costs.
If you do decide to sign on the
dotted line, remember your rights.
For example, if you sign a contract
that calls for credit payments, the
seller must give you a form you can
return within three days - if you
change your mind.
Document
- v Be rare to report
- > all your income
to IRS. It receive*
j copies of itate
"" " menu from your
Cyj "od mnilar m*o
report.
A PUBLIC SERVICE MESSAGE KROM
THE INTERNAL REVENUE SF.RV IC F.
On the
Front Burner,
Alice Pettitt
Home Economics
Agent
He must also return your
downpayment.
Women and WUls
A woman needs a will and for
good reason. For no matter if you
are a wife, mother or single head
of household, you own property,
you probably have a car, savings
or other bank accounts, insurance
and personal items such as jewelry
or furniture. That means you have
something of value to leave others
^he* you
If you don't have a will, your
estate will be distributed by the
state. And since the State has a set
procedure to follow, it may not
distribute your property as you
would have liked.
Wouldn't it be better to make
sure your husband, children and
others get the things you want
them to have? That means having
a will.
You can also use your will to
name a guardian for your children
and to name the executor of your
estate.
Cherry Nut Bread
'/i cup shortening
1 cup sugar
2V* cups flour
2 teaspoons baking powder
Vi teaspoon salt
Vi cup milk
V*. cup maraschino cherry juice
Vi cup chftpped nuts
i/j cup chopped marashino cherries
(See FRONT BURNER, page 5B)
JJfl. Austin Insurance Agency, Inc.
HOMEOWNERS
Fire , Auto, Business
We Can Design Proper Coverage
At The Lowest Cost To You -
Compare Our Retes
Phone 875-3887 112 W. Edinborough Ave. Raeford, N.C.
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Some tree growers miss
federal tax incentives
Many forest landowners pay too
much federal income tax because
they fail to take advantage of the
legal deductions, credits, and
preferential tax treatments which
are incentives to increase timber
production, according to Rick
Hamilton, Extension Forestry
Specialist, North Carolina State
University.
For instance, under a new
federal law, landowners may claim
a 10ft tax credit and a seven-year
write-off of out-of-pocket
reforestation 'costs of up to
SI 0,000 per year.
The law applies to reforestation
expenses incurred after December
31, 1979.
Individuals, corporations, part
nerships and estates are eligible,
but trusts are not.
Costs of site preparation, seeds
or seedlings, labor and tools, and
equipment depreciation are includ
ed.
Several landowners have sold
timber in the last year and these
people also can cash in by paying
less income tax.
Timber is a capital asset which if
owned for over one year and sold,
qualifies for long term capital
gains income tax treatment. Under
capital gains, only 40ft of the net
long term capital gains is taxed as
income.
Most landowners would qualify
particularly if they sell timber in
frequently.
Landowners selling timber fre
quently also qualify, but they
should consult a tax expert and
forester before selling timber to be
sure that their method of selling
timber meets the IRS re
quirements.
In addition, any costs of selling
the timber as well as the land
owner's original cost in the timber
are subtracted when calculating
gain.
Annual deductions of forest
management expenses ? ' wyi 1
claimed even if no forestry income
is realized during the year. If a
Extension"
News
Willie Featherstone
County Extension
Chairman
landowner itemized deductions,
costs of short life tools, equipment
maintenance, salaries, wages, fees
and equipment depreciation must
be taken in the year incurred.
' Taxes, interest payments, pro
tection costs, timber stand im
provement costs and timber in
surance premiums may also be
claimed as deductions each year.
However, these latter expenses
need not be claimed annualty if the
landowner does not need- deduc
tions. In that case, the landowner
should keep a record of these
costs, as they may be subtracted
from the sale price of the timber
when it is sold and will result in a
reduced taxable income.
For more information refer to
the publication Federal and State
Income Taxes for N.C. Timber
Growers, which is available from
your County Extension office.
This publication will explain and
list the federal tax benefits
available to private forest lan
downers.
1985 SPRING CONSERVATION
RETREAT
With the extremely cold winter
weather we have had and still more
to come, it is refreshing to think
that Spring will be here soon.
The North Carolina Agricultural
Extension Service and the North
Carolina Wildlife Federation will
sponsor a Spring Conservation
Retreat at the High Hampton Inn
near Cashiers, in the mountains of
North Carolina, on May 2-5. .
This Spring Conservation
Retreat is designed for individuals
and families. A complete youth
program is provided for youth ages
5 through 13. Teachers may receive
1.6 Continuing Education Units
(CEU) from N.C. State University
for participating.
Hoke soil survey
being distributed
By Donate Harris
District Conservationist
The Hoke County Soil and
Water Conservation District has
received the completed Soil Survey
of Hoke County, and it is ready
for distribution to the general
public.
This survey provides maps and
valuable information on the dif
ferent types of soils in Hoke Coun
ty, their suitability for cropland,
woodland, or pastureland use, and
potential uses for development.
Up *
The local Rural Develoment
Panel in conjunction with the
Hoke Soil and Water Conservation
District has scheduled a meeting
for Tuesday, February 12, at the
Agricultural Extension Office to
assist the local citizens of Hoke
County in understaning how to
utilize this material.
The meeting is scheduled for
10:30 a.m.
The Rural Development Panel
has invited a Soil Scientist from the
USDA, Soil Conservation Service
to assist with the program.
This will give residents an op
PO(tUfii& to ask questions about
the survey and to receive one for
your personal use.
fOLIAR
ONE POUND ELMER'S
CHOCOLATE HEART BOX
dlffl COUNTER
H POINT
TOWELS
HAND TOWELS 1.501
WASHCLOTHS ?1
?.88*
|marcal paper towelsI
FUguiirly 63*. Umlt 2 Roil*.
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Bmhw
Main *t.
K? fard. N.C.
?-?Dally
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