Newspapers / Firestone News (Gastonia, N.C.) / March 1, 1957, edition 1 / Page 4
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PAGE 4 Mswi MARCH, 1957 I s, . _js^' jt V' s i »:** < »'■= -', '^1, - C-' s V'ii“ , '% r. I y-' ,'- '" . if.'‘'¥''~:i LOTS OF CARBON—Helen Spencer removes carbon from between continuous paper sheets of your with holding statements for federal tax reporting. An orig inal and three copies are made here. MANY ENVELOPES—The withholding statement must go into a window-type envelope. Betty Moss begins the task of stuffing the forms for distribution to employees. YOUR MOVE NOW—And here you are. concludes Miss Moss. The Payroll job is done. After distribution of forms, the employee must take over to complete the tax reports. PRINTING YOUR W-2 FORMS—Mrs. Beatrice McCarter feeds forms into one of the two accounting machines in the Payroll De partment which tabulates your W-2 forms. More than 10,000 sheets were used this year to figure withholding statements of employees at the Gastonia plant. In addition to the W-2 forms, a card for North Carolina income tax reporting is provided. Paperwork Is Aid To Gardening Success Now that the planting season is here again, the Firestone gardener will do well to start—and faithfully keep—a record of the season’s trials and triumphs with the soil. Members of the Firestone Variety Garden Club recommend a good loose-leaf notebook, labelled for each month of the gardening season. Use the record book to jot down useful items, such as planting dates, data on fertilizers used, conditions at time of planting, and reminders on things to be remedied at later dates, when you might otherwise forget. YOUR "DIARY" could also record such data as amount and cost of seeds, plants and other materials; varieties of flowers, plants and vegetables. This information, evaluated at the harvest, will help you to see your summer’s efforts in the light of accomplishments— or failures. At any rate, the garden “diary” will be a guide toward an im proved garden next year, because you will be better enabled to profit from the experiences of the summer before. Big Story On Your W-2 And State Tax Forms If figuring your income tax gives you a head ache, just think of the Main Office employees of the Payroll Department who must process and tabulate those small but vital sheets of paper— your withholding statements or W-2 forms. And a record for your North Carolina State income tax, too. Did you know that your W-2 forms are fed, stuffed and burst? Here’s the way it is. The forms are fed into a National Accounting Machine; they are burst apart, which means that the four copies are separated, and two carbon copies are stuffed into window envelopes for distribution to you. Be sides a statement on your earnings for federal tax purposes, the Payroll Department supplies duplicate information on an IBM card to the North Carolina Revenue Office, Raleigh, for each employee. DURING THE WEEK of January 26, all Fire stone Textiles employees received two W-2 forms. The forms for state tax were sent in bulk to Raleigh. Ever stop to think where these forms come from? Who did all the figuring . . . How was it done . . . How long did it take? The Payroll Department, under direction of Mrs. Eula B. Wilson, maintains statistics through out the year on the gross pay for clock employees. It makes out the tax withholding statements for these same employees. For salaried employees. Paymaster B. J. Magner does the figuring. A look into the clock payroll department of Main Office shows what goes on in the prepara tion of tax forms. It takes approximately 10,800 specially-prepared forms to do the job of making out the 2,700 W-2 forms. Fifteen persons in the Department devote part of their job 52 weeks out of the year to accumulating figures for tax re ports. Each week during the year members of the Payroll Department process earnings on the Na tional Accounting Machines, showing each em ployee’s gross and net pay for the week, total wages paid each person for the year to date, amount of Social Security tax and income tax deducted. In this way they keep a running ac count of these totals. When Income Tax Time comes around, the employee’s record for the last week of the year, plus W-2 forms bearing the name, street address, city and state, are fed into the big machines. There must be an earnings record for each em ployee. The giant accounting machines then “read’' all the information from the master record and compile your W-2 forms in four copies. YOUR W-2 SHEETS show your name. Social Security number, number of exemptions for tax purposes, street address, city and state, total gross pay taxable for income tax purposes, in come tax withheld, gross amount taxable for Social Security purposes, (only the first $4,200 is taxable), and the amount deducted for Social Security. When the sheets come off the machines, the miles of carbon paper between the copies must be removed. The copies which are attached must then be torn apart. The original is sent to the Federal Income Tax Bureau, and two copies are stuffed into envelopes for delivery to you. The fourth copy goes to the North Carolina Revenue office, as a record of earnings for state income tax purposes. In North Carolina, all single men and women and all married women who earn $1,000 or more in a year, and all married men who earn more than $2,000 a year must report to the Raleigh office. Should an employee lose his copies of the federal tax forms, the Payroll Department is p^t to considerable effort in replacing the original forms. It is not infrequent that this happens, Mrs- Wilson says. Preparing the tax statements is a sizeable task. Electronic machines can do much of the figuring and tabulating, but there is no machine that can perform some of the operations that send the statements on their way to you. Future Dealers Get Instruction The Company has begun a program of “insurance on the future” by training sons and sons-in-law of Firestone dealers in the business they may some day inherit. The first course was held in Akron early this year. The sales training staff of the Company is conducting the series of classes and plant tours to give a complete picture of manufacturing and sales tech niques. Leading Company of ficials join in the discussions. First phase of the training is devoted to store management. The final phase deals with con trol and quality in manufactur ing. A detailed study is made of passenger car, truck, tractor and off-the-highway tires. Those attending the first classes represented 29 states and Alaska. McAbee Is C Of C Committeeman L. B. McAbee, Assistant to the Director of Industrial Relatioi^^’ is serving another year on th® Safety Committee of the GaS tonia Chamber of Commerce- Reelected at the recent 44th an^ nual dinner meeting of the C ^ C, he is one of 12 directors of th® local organization.
Firestone News (Gastonia, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
March 1, 1957, edition 1
4
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