Page 4 ^ - Taxpayers Ask IRS This column of questions and answers on federal lax matters is provideii by the local offi[*e r losses, then half of lit or Note that gifts Which cost $4 ^ jsqq can 'be used to offset your I or less are subject to this li-1 other income, mit if your name is clearly and | ' print^ on the item and is one | I of a number of identical items I distributed by -you. This would cover calendars, pens and simi- Gaston Students On Dean's List Dr. George S. McSwaln, Dean of InatrucWon at Gaston College, an nounced (that the following Bings lar items. hea- Heiald Sets New Picture Policy The Heiold is setting a new policy on pictures to be pub lished In the future euid seeks the cooperation of Its readers and customers in making the change. Beginning next week, only black and white photographs wUl be accepted since only poor reproduction can be expected from colored photographs. For birthday pictures and other single-column pictures, only wallet-sire (2x3) photographs wUl be accepted, and for brides and brides-elect, 5x7 pictures are requested. Also, all brides pictures and birthday pictures must be jn the Herald office no later than Mondoy for Inclusion in that week's editioii« The new rules have been necessitated since a change has been made in engraving oompaniqs serving the Herald. We hope you will not ask us to make exceptions and will request the proper sires when ordering from your photographer. Q_My brother had som^ vy m0.1loAl expenses last year and I helped him out with them. Can I deduct this on my return? A—As a general rule, only ' medical expenses paid for a de- I pendent may be deducted with I your other me'lical expenses. This rule wo-uld not apply if you cocJd have claimed your brother as a dependent except for tJie fact that he bad income of $625 or over or filed a joint return with his wife. If you think this exception ap plies in your , case, ibe sure to [ have a good record of what you contributed to your brother’s support for the Q—if took a loss on some stock shares I sold this year. Is there 0—IMy dentist is doing some' Mountain student* have ibeen bridgework tor 'me. Can '1 lucduct j placed on -the Dean’s List for the the full cost on my 1970 return? Fall Quarter, 1970. ject iandge | Division: Jaoque A—Dental expenses are sub- \ Causby, Michael <5. Causby, Don- ject to the same provision as na G. Chamiplon, Sara S. Jones, medical expenses. The total of Mack Lefevers, Jr. Barbara 'Lou the expenses that qualify may be Logan, John D. Logan, Donald L. deducted to the extent it exiceeds ! Roberts, Hubert H. Seism, artd 3 percent til your adjusted gross income. Retjecca A. Summltt. Teohnioal Division: Bay E. Mor Include dental expenses only U . gan and (Gary E. Nolen. .... I g ^ A 1 TXIakI they were paid wi year. If the expenses oomfl M $350, but you paid oirly $175 of that in 1970, just list the 9175 when adding up medical bs. snares i sifnu mis . ,,, -.oro any change in the way I handle I to pay when you file your 1970 this for tax purposes? return, it is not necessary to make further estimated tax pay- A—Yes, the Tax Reform Act ments for 1970. Us^ your estim- • 4 -1A 4-Via tOV —a. —J of 1969 (made changes in the tax treatment of capital losses. Capital losses Scontinue to be deduct iblp and can be used to offset capital gains. In addition, capital losses can be used to off- j set other in'come up to a maxi- I mum of $1,000 a year. I However, wihile short term cap- ated tax (worksheet to figure out the revised amount of tax liabil ity and whether this will be met without making an estimated tax payment as scheduled in Janu ary. Q—^If I pay someone to take care of my baby while I’m work ing can I deduct the cost? A—^Thio may qualify as a child care expense. In that case you may deduct uip to $600 of the a mount you spMid for the car^ of a dependent while you are wortt- ing or looking 'fdr tvoilt. The de duction is raised to $900 When care is paid 'for 'two' or more de pendents. Note that the tax law limits the ideductlon when the combing income of a! worW^ (CoUple is ©■ver $6,000. Then the deduction is red'uced by the aiitount their In come exceeds $6,000. This and o- ther rules are explained in Pub lication 503, Child Care and Dis abled Dependent Caret available free from your IRS (District Of fice. An investment opportunity for you at Firet-Citizens Bank & Trust Company: 8.50% subordinated capitai notes THESE NOTES DO NOT REPRESENT DEPOSITS AND ARE NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR BY ANY OTHER GOVERNMENT AGENCY. OFFERING: $5,000,000 of an authorized $1 5,000,000 issue DENOMINATION: $500 minimum with any amount above in multiples of $ 100 MATURITY: December 1 5, 1 990 INTEREST: Payable June 1 Sand December 1 5 REGISTRATION: All notes will be fully registered as to principal and interest. Payment of these notes is subordinated to the claims of depositors of the bank and of its other creditors except those holding securities on a parity with this note or expressly subordinated to this note. In the event of insolvency or liquidation of the bank these notes cannot be paid until the claims of all depositors and of all other creditors of the bank (with the excep tions aforesaid) have been satisfied in full. These notes are unsecured and are ineligible as collateral fora loan by First-Citizens Bank&Trust Company. SALE OF NOTES: These notes will be sold directly by First-Citizens Bank & Trust Company. For a copy of the Information Circular, visit your nearby office of First-Citizens Bank & Trust Company, or mail the coupon below. The offering may be limited or withdrawn at'any time. This offering is-as of December 15. 1970. ’A First-Citizens Bank & Trust Company Corporate Trust Department 20 East Martin Street Raleigh, North Carolina 27602 Gentlemen: Please send me an Information Circular containing details on the 8b0V9 8.50% subordinated notes. I am interested in a note in the amount Of -9 (minimum $50Q| OOMFLETBS TIIAIMIMG — Alt- own Gary D- Xandernoii. son of Mr. and Mrs- Emmltt Honder- soo. Hb il. hod ncsitrad his Hzst O. S, Afi Force duty assignment oftM complstlM basic trednlng ed Loddond An, Tea., Son An- todie. Texas. The ainnan has baea ossigned to a unit el the Stxaiagtc Air Command for distisgutehing hJiitaeilHSiiiouBh mefiWridus serv ice -tfi -oontiewon with military operktlpns ai^nst ' hostile ,iton;de in' ^e«iani.;TO'?-leddal,. adopted reeaghiaif dhtdandhtg* a- dii^irieivt. Sgt. 'Seagle received the (award while assigried as a squaid leader In Coihpany A, lAt Battalkm, 8th Cavali^, IjK Cavalry Division (Airaneblle). 0 in Maiiph^**^!, ccmipleted .basic tralhlijg at Pt. Brass, N. C., and wSsia^tiondd: at- Ft Jackson, S. C. 'beiere- arflvihg’ gvei^as. He alio:- $tidS .lihe, Amiy Oomlnenda- the Aitj-MfedAl attd th^Xinnbdit- InfAottynian Ba^e. j. —jiant is k 1969 grad- uAiie -.(k,' ICiriks, Motmtain High Sdli^./.tte'ibccfy^1ils &A. de- grM.M-lS^S'lirMh ffe-Unlwetslty of NbiAh c^lina at Ohartotte. Vi^,Piano Leaining Camp Tryoub Invited Next summer, during the wedt of June 03 to iie, at lUie 'Beauti ful WILDACBBS estate qear Lit- tie Switzerland, a leadership training camp will bf held for prospective singers and accom panists grades nine through 11. Sponsored by the DUiworth Ro tary Club of Chatlbtte, the Rotary Music Camp will be under the direction of Harvey L. Woodruff, known throughout the Southeast as voice teaoher, choral director and music eduicator. Last summer he conducted the Dilwoirth Rotary “Youth on the .Move” Singers in a concert. tour through Western North Carolina, appe«ring before fifteen different Rotary Clubs and their (conunuhity atidleiilces. ‘ Applicants (or the Music Camp at WILIDACRE? will be apditioned during the cairislmas, holidays, and those selected (WlM receive $30 grants from" dartidlpdiing Ro tary Clubs thrbuiEKodt District 767, the westenrpart.dt the state. These' represent naHkeholarshlps tor the total tqgl 0^'tbb week; • Audition times akd'places are these, and students may bring their own aoionnpdnists' if they Ttiundayr DBC6iTib#r-17i J$7(» wish. They will sing (or play) qhe selection. . ' , ' Sunday Dec. 37, 2:00 IW* and Monday Dec. 28, 10:00,|o 12:00 noon, at the Woodruff voice Studio. IRlfi Eocl Eighth St., CHM- lotte (2 blocks from Hawthorne Lane). , . Monday Dec. 28, 3:00 to Music Room, First Baptist chu|d||, Shelby. Application blanks and furthei Information may be obtalnM by wrlring Dr. Homer Justls, Fr6#l* dent, Dilworth Rotary Club, 3050, Charlotte, N. C. 28203; or from Harvey L. Woodruff, Dlrcclof Rotary Music Camp, 1816^BMt Eighth St., Charlotte, N. C. 282004. The United Nations (OhiMiretf* Fund is well-known lor its life- saving activities in the ‘fields ^ child nutrition, mother-and-bsw care, control of epidemic cWlfl- hood a-iseascB, and disaster .rg; lief. But it is not enough to jw tect children 'from disease or dis aster; they .must also ibe prots^ ed from ignoranloe. So about Ihlp ty per cent uf UNHaBTs rCsetf- ces go into the fields of edlupatiotl and (vocational 'trainlnf. «4iiM needs thel right kit schooling, so that 'he,can Rrjw UP ^ to become a productive Adtflt, ^ le to make ConsVh-““*“ *- tiohs to the world’! UNUCEIF help world! their own aoionipdnists' if they world. .i! Name (please print) Street City . -State . -Zip . . 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