'Page 8
THE KINGS MOUNTAIN HERALD. KINGS MOUNTAIN, N. C.
Thursday, May 4, 1972
TAXPAYEBS ASK IR S
- This icolumn of questions and
insnvers on federal tax matters
^ provided toy the local office of
the U. S. Internal Revenue
Service is published as a pUilic
service to taxpayers. The column
answers questions most fre<iucnt-
ly asited by taxpayers.
■ Q.—I owed some aditional tax
this year when I filed my return.
Should I now arrange lor more
withholding so that 1 don’t owe
next year?
•^lA.—Most taxpayers need not
arrange for additional withhold
ing. Under the Revenue Act of
1971, the withholding tables will
make the amount withheld for
1972 more closely match the tax
Ualbility for the year.
,In the past many taxpayers
had been claiming fewer exemp
tions than they were entitled to
in order to avoid paying addition-
til tax at the end of the year.
Tl.cse I orsons may now file with
their employers a new Form W-1
—^Employees Withholding Ex
emption certificate—claiming all
e.xcmptions to which tliey are en
titled; tiiey no longer need to
(■'.rim fewer exmptions to avoid
paying large income tux bills
each April.
Under the new withholding
tables certain taxpayers may
claim a “special withholding al
lowance’’ whicii is like anotlicr
e.xemption. It can only he claim
ed for withholding purposes, not
on income ta.x returns.
A single person or married
person whose wife cr husiband
does not work is entitled to her when I figure out whether
claim the special withholding al- or not I can claim hed as a de-
Iwance. Hcwever, it may not be pendent?
claimed by a person who works Federal State or local
at two jo’os concurrently. Sin- . A.—INo. Federal, State or iwai
gle persons with incomes under ta.x pyments are not to
S2.-,,:;’00 and married taxpayers considered in determining
with incomes under $31,000 support,
should claim the sp-ecial with q,.. .j received a fee for serving
hoklin,g allowence if the yiiuali- on a jury for two weeks. Is this
1 fy. taxable.
Pick Good
i^axBemover
RALEIOH.
Removing ac-
leum or vinyl plastic. They are
not recommended for wood
floors.
To prevent an accumulation of
wax, use a remover about twice
a year. Clean only small areas
cumulated floor wax can be a! cif the floor at a time. The clean-
.oig chore ter most homemak-|*^S solution should not dry on
I the floor before it ig wiped
; and the floor rinsed.
up
ers.
So extension home economics
I soecialists. North Carolina State
duty I University- recommend using a
gross , commercial floor cleanei'.
! To remove accumulated self-
sh.w the numcer of extra allow-: Q.-*Iy son, who is a collegeiapplication of wax to
ancos that may be claimed for student, will probably earn over ‘-‘*'"'"‘-“•1“*! ‘fc |-^^ithin 12 mches of the wall us-
Extra allowances may also be! .yes. Fees for jury
I claimed by taxpayers who have must i,e included in your
largo itemized deductions The income.
Iw 1 contains a table that will
Also- it is not necessary to
apply wax all the way to the
i baseboard with each waxing.
I Since there is little wear along
ocmmercial wax removers on the j ually is sufficient.
I large Interimzetl d e d uctions. $750 during the summer vaca-, ^ ^ |
: These extra allowances, like Hon. Does this mean that I can t specialists fdvise.!
this I
: the special withholding allow- claim him as a dependeent cleaners are to te used
, ance, may be claimed only forAcar. ^ hard surface floor coverings,
withholding purposes, not on m-. a.- If your son is a full-time - such as the printed or Inlaid lino-
come tax returns.
Bonds Sales
I n.- -li your
student during some part of each
'Forms \V-4 may be o-litained ,cf five monlhs-of the year, he
either from employers or IRS of-1 can earn any amount- and still
fices. I be claimed as your dependent if i
Q. — C a n correspondence you still con,lr’l;iite more than'
co rses ever be deductible aslcnehalf of his total supp'ort for'
educational expenses? | the year and if the other depend-1 of U. S. series 1 and
A.—Yes. You may deduct the pUcy tests are made. The ^ same gpiics H savingg bonds in Cleve-
ordinary and necessary expenses applies to taxpayers’ chil- .
you incur for correspondence dren who are under 19 at tho^j^^ January - March sales tot-
You Can Now
Get Information
By Telephone
The Social Security adminis
tration, in its continuing effort
to render better service o tlie
pilblic, is placing emphasis on
conducting business by telephone.
chil-
who are under 19 at the
cour.sos that: end of the year. I aled $210-SS«. This represents 24.9' Lex G. Barkley, manager of
1. .Meet the ro<)uireihent s of, -- - , jh-i- cent of Cleveland county's: the Gastonia office, stressed that
your employer, or requirer-ents, VIRSTNI \ I'.-MM oi $-;ip,030, according to i thte same skilled personnel who
of law or regulation-^, . keep-1 - George Blanton Jr., -Cleveland i have provided in-person service
ing yniir salarv • p.s, or ein-i if you r-uy a pro-’i.ct labeled county volunteer chairman. in the past are available to fer-
polyment. ’ reej. irements —Virginia” bam, it must be pro [ Maich sales of U. S. savings nish information in connoclioa
■^ervi-
,-,.a fide business pur-
fr^UPTOYOUl
duced in the state a. Vir;
A product
'^OTE for
2. .Maintain or improve skills
required in performing tlie duties style” ham
of your present empj.yment, or state other
‘rade or business.
If the education is part of a
program of study that will lead
to qualifying you in a new trade
'irginia-
OURRY COOKING
An exotic blend of ma'ny
spices, curry powder is the stand
^r business, you may not deduct
your expenses. The same is true
for expenses incurred for educa
tion you need to meet the mini
mum educational requirements
for qualification in your employ
ment, trade or business.
Q. I paid my daughter’s Fed
eral and State Income taxes last
\ear. Do these payments count The Kansas river
toward support I furnished for known as the Kaw.
la-belwl
is p-ro(lnred in
than V'irginia,
Ruby Uzzle, exton-,
I lends in North Carolina were with geeral and specific liiquiries
lever $1 mdlijn for the third over the telephone. Where a ceisc-
'consecutive month and the high-!-can’t be handled by telep'.i me, a
jest monthly sales since January - personal interview can be :
1917. Sales of series E and H ranged. Persons who wis.'i
versity.
by of Indian cookery. Wonderful-
ly versatile. It gives an excitmg ^ ^
pickup to lef over meats, stews (quarter of 1972 amounted to
and fish dishes. ! $1,640 million, 19.3 per cent
also ® earlier. Tne Ameri-
can people have bopght more
i savings bonds in the lirst quar-
ice may call the social securit.v
otlice in Gastonia at 864-5434,
ar-
_ anged. Persons who wish to
serves .Mrs. Ruby uzzie, exion-, 33y^j^g3 the lirst quar- make use of this telephone seiv
tion consumer marketing econo-, amounted to $22,-938,650; an
mist, North Carolina State Lm- increase cf 18.6 per cent over
sales lor the same p-oriod last
year . . . Another 27-year record.
Nationally, total March sales
were over one-half billion dol
lars, a 13.3 per cent increase
South American Indians
pineapples.
grew
TAKE YOUR MEDICINE
AS LONG AS NECESSARY
One of the hcordest things the doctor has
to do is to persuade his patients to keep on
toking their medicine as long as he thinks its
necessary. Many people think that they ore
Clued Just because they start to feel better.
However, many drugs do not cure—they are
token to control an illness.
Don't fear taking your medldne. Instead,
place your confidence in the knowledge and
experience of your physician and follow his
Instructions exactly. He knows what a drug can
and caimot do and how long it will usually
take to get the job done.
YOU OH YOOR DOCTOR CAN PHONE OS
when you need a delivery. We will deliver
promptly without extra chorge. A great many
people rely on us for their health needs. We
welcome requests for delivery service ond
charge accounts.
KINGS MOUNTAIN
CTDsro.e drug company
CITY'S modern 5T03F
PHONE 739-2571
1
li
It all started
when I was 2.
'a
•v ' --- -1^
with a
Home
Saving s& Loan
Savings account
My parents opened it for me
and added to it each week, so that
I'd always have some money of my
own. We named it the Droam
Fund — it was supposed to help
make dreams come true. li did ... a
lovely wedding, a new apartment,
and a nest egg, too.
6 (^ interest
y compounded
quarterly
All Earnings are paid 4 limes each year as of the last day of March, June, Septem
ber, and December.
If your present certificates merit a change to earn the higher rortes, we will be hap
py to change them. . ■
Savings deposited on or before
the 10th oi each month earn
dividend for the whole month.
Savings insured by the Federal
Savings ond Loon Insurance
Corpozaticn to $20,000.00.
:‘i
Established 1923
Home Savings & Loan Association
Eost Mountain Street
Ph. 739-2531
ter of 1S72 than they have in
any quarter since the War Laans
at 1945. E and H sales exceeded'
redemi tions at cost price by:
$313 million in March- the high- i
est amount since H bonds were
introduced in 1952. The cash val
ue of series E and H b.nds and l
Freedom SWareg outstanding on
March 31 attained a now peak of
$55.6 billion. Holdings of series
E and H bends topped $55 billion
for the first time, showing a net
investment growth of $320 mil
lion during March, the largest
monthly gain since December
1945.
RE-ELECT
ROBERT HUBBARD
Having served one term as County
Commissioner I feel I am better quali
fied to serve Cleveland County next
term.
May 6 Democratic Primary
County Commissioner
Josh Hinnant
Industry-Seeking
Go-Getter
In April 1967, L. E. (Josh) Hinnant
was appointed co-chairman of Kings
Mountain Mayor John Henry Moss' in
dustrial committee.
His service since has been of great
benefit to Kings Mountain, to Cleveland
County and to Cleveland County citi-
zes.
First of ten new industrial citizens
to begin operations in the Kings Moun
tain area of Cleveland County since the
county commission candidate went to
work at his new (non-paying) job, was
a branch of Alcan Aluminum Company
(the v/orld's largest). Alcan decided to
locate in Kings Mountain in June of that
year and began operations in Decem
ber.
Talce a look at the growth in the
Kings Mountain tax base:
1966 $23,116,466
1971 $38,624,120
SATURDAY, MAY 6 DEMOCRATIC PRIMARY -
XI L E. ‘Josh’ Hinnant
FOR COUNTY COMMISSIONER
(Political Advertisement Paid For By Friends of Josh Hinnant)
i)
ROUND nGURE GAIN: $15,500,000
Tax base gain for Cleveland Coun
ty was greater, as two of the ten new
industrial citizens, Concept Furniture
and Spectrum Textured Fibres, are lo
cated outside the Kings Mountain city
limits.
An expanding tax base is a means
of keeping tax bills lower.
More important to the individual is
fOR. These new industries employ 1800
persons.
Josh Hinnant, a banker, is as inter
ested in maintaining lowest possible
tax bills as anyone and perhaps more
than most. He is keenly aware of the
large increase in the taxable value oi
your real estate, effeictive with upcom
ing tax bills, and of your fear of further
increases in your county tax bill.
m