Newspapers / The Brunswick Beacon (Shallotte, … / Oct. 20, 1994, edition 1 / Page 44
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IRS Has Undelivered Tax Refund Checks More than $936,299 in federal tax refund checks remain undelivered to 1,633 taxpayers whose last addresses were in North Carolina. Of the 1,633 checks, 475 are for sums of $50 or less, but 204 of them are for amounts in excess of $500, They range from $1 to $45,945. Most are for 1993 returns, but some are for prior years as well, said J.R. Starkey, IRS district director. Typically the U.S. Postal Service is unable to deliver refund checks if someone has moved and left no forwarding addicss, the handwriting on the return is illegible or the taxpayer changed their name during the past year and didn't contact the IRS. Taxpayers who have not received their federal tax refunds and have not been contacted about them should call the IRS toll-free at 1-800-829 1040, or write to the IRS Service Center, Memphis, TN 37501. MONEY MANAGEMENT Incentives For Making Charitable Donations Making donations to charitable organizations may not stretch your purse strings as much as you think. The N.C. Association of Certified Public Accountants points out that as long as you itemize on your tax return, you can claim a tax deduc tion for your charitable contributions and lower your taxable income. Suppose, for example, you make a donation of $1,000 to a qualified organization. If you're in the 31-per cent tax bracket, you may save up to $310 in federal taxes. If you're in the 36-percent bracket, you may save up to $360. Qualified Organization Donating money directly to indi viduals ? even if they are sick, dis abled or homeless ? will not entitle you to a tax deduction. In order to claim a deduction, you must take your contribution to a qualified or ganization. These include nonprofit religious, educational or charitable groups, such as churches, schools, hospitals, government agencies, vet erans' groups, the Salvation Army and the United Way, as well as the Boy Scouts and Girl Scouts. For a complete list of qualified organiza tions see IRS Publication 78. Contribution Types To obtain a deduction, you can do nate more than cash. Gifts of proper ty, such as furniture or an old car, can qualify for the deduction. Your write-off is equal to the fair market value of the property, which is the amount you would receive for the property today from a willing buyer. Making gifts of appreciated prop erty, such as stocks, real estate or an tiques, can offer you additional tax benefits. When you donate capital gain property ? property you have owned for at least a year ? you deduct the fair market value of the property. What's more, you needn't pay taxes on the gains realized since you purchased the donated property. So, example, suppose you purchased some antiques for $2,000 ten years ago and they are worth $10,000 to day. If you donate the antiques to a local museum where they will be displayed, you can claim a tax de duction of $10,000 and you needn't pay any tax on the $8,000 gain. Track And Document Be sure to keep accurate records of all your charitable contributions, including the name of the charitable organization, date and amount (or fair market value) of your contribu tion. If you make a cash gift of $250 or more, you generally must have a receipt from the recipient. Cancelled checks are not sufficient proof of your donation. If you give property rather than cash, be sure the receipt adequately describes the donation. If you donate property worth more than $500 a year to any organization, you'll need to complete additional paperwork: IRS Form 8283, Noncash Charitable Contributions. The form is then sub mitted with your tax return. For property donations exceeding $5,000, you must have a written ap praisal from a qualified appraiser. A fully completed summary of the ap praisal and a donee acknowledg ment of the contribution should be attached to your tax return. Keep in mind that the IRS may hit you with a penalty if you over-value the do nated property. There Are Limits There are limits on your de ductible charitable contributions that vary depending on the recipient. Deductions for charitable gifts to public charities, such as schools, churches or hospitals cannot exceed 50 percent of your adjusted gross in come. Gifts of appreciated property can't total more than 30 percent of your AGI. Gifts to veterans' groups are limited to 30 percent of your AGI, with a further limit of 20 per cent of AGI for certain appreciated property. You may, however, carry over deductions in excess of these amounts for five years. Additional rules apply, so check with your CPA before making any large contributions. Money Management is a weekly column on personal finance pre pared and distributed by the N.C. Association of Certified Public Ac countants. FAMILY FINANCIAL SECURITY Put Nationwide's life insurance "on your sidef Call us about Nationwide's life insurance plan that covers the entire family for one low premium. It's one of the best values for financial security. 4700 Main St., Shallotte 754-4366 NATIONWIDE INSURANCE Nattoowfcle ? on your side HUarrwtSm tAAai m*jranco Corrpany and AMUrtad Ccmparw?a Horn# Otic* On? Haftorwuj? PWi, Cdjmtws, OH 43216 Nater^ndaT* a ragslwod Moral aarvic* mart of Nabonwidt ftfctuai toajranc* Company V I * Free Pedicure A *25 Value with purchasei of acrylic tip 5 or overlay. Valid thai 1 1/30/94 Call Sue or Christy Thomas boro Rd. Calabash 579*2852 Chrysl er^Riymouth, Dodge, Jeep Eagle, Inc 754-2811 LN SHALLOTTE 1 Special Purchase Program Cars Will -754-281 1 1994 Chrysler LeBaron GTC Convertibles $13,650 *No Money Down $279"/mo.* Several to Choose From Air, power windows/top, tilt, cruise, air bags. 1994 Chrysler New Yorkers *18.650 *No Money Down *383w/mo.# Dual air bags, power seats, air, leather (in most), Infinity spatial imaging sound system, 215 h.p., autolock braking system. Top of the line auto! ?Price after coupon. 60 month financing. 9* APR pending credit approval, tax and taga extra. Limit l$i one coupon per customer per car. 500 NABER CASH COUPON I 5001 NABER CASH COUPON This Coupon Could*Be All The Down $Caa Payment You Need To Buy From Naber! scnn1 ^jUU Bring Tnls Coupon To Your Naber Sales Representative For Complete Details O w w Nam# Addraaa Data of Btrtn CREDIT REBUILDERS ATTENTION! We Now Offer BANK FINANCING For Persons With: ?Bankruptcies ? Foreclosures ? Tax Liens ? Repossessions ? 'Divorce ? Charge Ofts ? Loan Defaults ? Slow Pays We understand good people have gone through bad times . Let us help re-establish your good name and offer you a fresh start! ;B BE THE FIRST TO TAKE ADVANTAGE OF THIS SECOND CHANCE OPPORTUNITY. CALL TODAY FOR AN APPOINTMENT OR DETAILS! (910)754-2811 or 1-800-754-2811 ASK FOR DAVIS! For Loan Interview Purpose* Only Bring: 1 . Current Check Stub From Your Place of Work 2. Current Telephone Bill. 3. 1993 or 1992 Tax Return (if Self-Employed). 4. Bankruptcy Discharge Papers (if applicable). 5. Copy of Your Social Security Card. 6. Copy of Your Driver's License. 7. 10% Cash Down Payment or Trade-in. . ? _ __l If you would like, just fill out the form at right and mail your information to PO *<** <* a?"r Box 3196, Shallotte, NC 28459. We will call you after arranging financing. iT* aj? i? ? ? *iCTtSir?iimiaii r?? iim n Homa Phona ? Social Sacurtty ? Emptoymaot Typa o? Vahtcta NaaOad .Wort Pnona ? . v aara C aah Down $ Signature _TraOa (Yaar /Maka/MHa^a ) _Baat nma To CaM ?Sliding rear window ?Air conditioning ?Sport alloys ?AM/FM cassette 19S5 Dodge Dakota Sport Several to choose from! $ 1 1 ,950 ?Carpet flooring ?White letter tires ?Bed liner ?Special! Lease for only $189 mo., 36 months Rock Bottom Clearance Prices 1994 Plymouth Voyager Automatic trans , V 6. air cond , only 6.000 miles 1 Only $1 6,950 1989 Dodge D50 Only > 000 nnk; ? ? '5,950 1989 Chevrolet S-10 TafoOc pickup automatic an cohditionifui nice riditioniiuj nice 56,950 1989 Ford XLT 8,950 SPECIAL PURCHASE 2 Jeep Renegades Hard to Get Models Special Savings 1990 Plymouth Voyager Nice condition 6,950 1988 Chrysler Fifth Ave. Low miles, super nice. car. all options 5,950 1992 Chevrolet y S-10 Tahoe L/c i 'Hunt .,n,i|ji aii conditioning automatic. 1991 Honda Accord EX 1985 Dodge Diplomat '? ? Excellent shape, an. auto powei . ?t 'i t > r i ? . ? ?? <? windows and locks . \ S1 3,450 *3,450 1992 Dodge Caravan Automatic air conditioning tilt, cruise $1 1,950 1994 Dodqe Intrepid 16,950 1992 Ford Escort M.'iK '? <H i.< ' ??? , it Hi 6,300 1988 GMC 1500 SLE Power windows locks, automatic, bed liner 8,950 1993 Dodge Stealth Sopot Aj* lit- ; i if ?? ?j Sic /I CO 1994 Jeep Cherokee Country Absolutely loaded, low miles T CZ A irri "uouiuitny row miies '^u Onlys 19,950 Affordable Transportation 1988 Tempo Auto, air, stereo s3,450 1988 Chrysler LeBaron Convertible LX Leather only s2,950 1987 Escort Wagon Very clean and dependable auto, air Only $1 ,950 1989 Dodge Dynasty At. lull! lll( n?, i .'. ' n If iv, . >,t( t. -n s2,950 Business 17-North of Wal-Mart, Across from Joe s BBQ in Shallotte ? Wouldn t you rather do business with a Naber? T? tf ? |Wt? )??*? ?**!< fHAl.ON
The Brunswick Beacon (Shallotte, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Oct. 20, 1994, edition 1
44
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