Homeowners eligible for
bigger tax returns
Owning a home is an expensive
proposition in today's economy. But
remember, a bouse is more than a
home in many instances; It is an in
? vestment. The North Carolina Asso
; ,,ctation of CPA's wants to share some
, tax tips for homeowners to help them
- make the most of this investment
v*.when filing their 1M6 tax returns.
v?? Specific tax deductions which may
"1. be available to homeowners include
mortgage points, home equity loan
t interest, and real estate taxes. These
t;. can save tax dollars for many home
' 'owner* if they meet specific criteria.
v. Mortgage points may be dectucti
4 \We on your tax return. If, in 1906, you
,pald points on a loan to buy your prin
jT cipal residence, not an additional
"home, you may be able to take a full
"deduction on your tax return. To
?qualify for this deduction, you must
-meet three criteria: the loan must be
! secured on your principal residence,
./t points must be a common practice in
your geographical area and the
points you paid cannot exceed the av
__ erage fees for loans in your area.
If you refinanced your home, or if
you purchased a second home, you
,,t may be able to take a partial deduc
'? ' tion. In this case, each point is equal
' " to ooe percent of the amount bor
Vowed and is usually amortized
^?(gradually deducted) over the life of
'^/tbe mortgage. For example, if you
- secured a 30-year mortgage, each
point is deductible to the extent of
one-thirtieth of the fee paid in 1986.
? ''depending on the amount borrowed
* "and the number of points paid, this
can add up.
All homeowners are eligible for the
"" ftiortgage interest deduction. When
*''Jou take out a mortgage, your
'^monthly payments may include prin
?cipal payments, interest, fire insur
ance and taxes. Of that payment,
'"V0111" interest and taxes are deduct
ible. At the cod of the yew, your bank
will send you a statement of precisely
bow much interest sod tans were
paid over the year. Don't forgot to da
duct this interest and taxes on your
tax return.
Did you sell your house in 1966? If
so, you may also have elected to pay
off your mortgage. If you did, and
were charged a prepayment penalty,
the good news is that it is totally de
ductible on your tax return. How
ever, if within two years you bought a
new home which was less than the
cost of selling your other home, you
will have to pay taxes on any realised
capital gains. The cost of any home
improvements you made in IMS can
be used to reduce the gain. If you're
over 55 and meet certain require
ments, you can elect to exclude up to
1125,000 of the gain.
Another deduction available to
homeowners is for the interest paid
on a home equity loan in 1986. Based
on the market value of your home af
ter substractlng what you owe
through any outstanding mortgages,
this money can be used to finance
anything. After August 16, 1966, you
cannot deduct interest on loan
amounts exceeding the original cost
of your house plus any im
provements, except for medical and
educational purposes.
Depending on your personal finan
cial situation, these other deductions
could save you a substantial amonut
on your tax bill. If you need more in
formation regarding these and other
deductions available to homeowners,
contact a CPA. He or she can give
you more detailed information re
garding your specific needs.
Owning a home is the American
dream. And these deductions might
help homeowners sleep a little eas
ier.
pGrant monies approved
i RALEIGH? Human Resources
I Secretary Phillip J. Kirk, Jr., today
annouced the approval of $107,000 in
grant awards to help strengthen com
munity dependent care in North Car
> olina for young children, older
\ adults, and persons with mental and
J physical disabilities.
He added that 60 percent (over
? $64,000) of the funds were allocated to
the North Carolina Department of
Public Instruction to develop and ex
pand local before-and-after school
programs and care for so-called
"latch key" children (under 17 years
of age) who are without adult super
vision for part of the day.
The remaining 40 percent (almost
$43,000) of the money will be used to
lop' new information and refer
programs for Ave community
. These grants will focus on
information relative to
and support for older citizens
years of age and older), and per
with developmental disabilities,
as mental retardation or va
rious physical impairments.
"This new initiative re-emphasizes
? Governor Jim Martin's commitment
0 to education and to building stronger
J"Tkmily life in North Carolina," Kirk
said. "Dependent care is vital to
working parents who are responsible
the care of young children and
in school, or the care of
and disabled family members.
The purpose of this statewide effort is
to develop better community re
" sources to find the best possible de
pendent care available."
He explained that the federal "De
pendent Care Planning and Devel
opment" grant was approved by the
U.S. Department of Health and Hu
man Resources in Washington, D.C.
? use through September 30, 1967.
Dependent care includes child day
care, adult day care, nursing and
rest home care, respite care, resi
poster
selected
The National School of Traffic
Safety Poster Program (AAA) has
notified Cornelius R. Mack that his
poster, will be Judged in the National
Contest. Mack is a 10th grade student
Perquimans County High School.
His instructor is Ms. Deborah Phil
Hps Coatas.
Mack it the grandson of the Rev.
land Mrs. Wright Demery of Belvi
Idere.
dential living group homes, and De
velopmental Evaluation Centers to
help persons with mental and physi
cal disabilities.
The Department of Public Instruc
tion will study how to develop and ex
pand beforehand after-school pro
grams for "latch key" children
through North Carolina's local edu
cation agencies. They will develop a
manual for local agencies to use pat
terned after successful state and na
tional school age child care pro
grams. This cooperative effort will
unite North Carolina's existing
statewide network of education and
human service professionals, as well
as parents, community groups, and
concerned citizens. The program will
be located Hi public add private
schools or community centers.
The five community information
and referral projects will be adminis
tered by DHR's Child Day Care Sec
tion in the Division of Facility Serv
ices, according to Section Chief Dr.
Nancy H. Brown.
Dr. Brown explained that the pro
jects are designed to locate and pro
vide support and assistance to fami
lies with the responsibility for
providing care for dependent family
members.
Computerized information will be
distributed through a wide variety of
human service agencies including
county health and social services de
partments, Area Agencies on Aging,
schools, churches, businesses and in
dustries, and volunteer groups. The
data will include the type of services
available, as well as the locations
and cost.
"These important demonstration
projections recognize the growing
community need for dependent
care," Dr. Brown said. "Consumer
education help families make more
informal choices about quality care
for their dependents."
Classifieds
get results
CALL 426-5728
Pictured above left to right are the winning posters from the
local soil conservation poster contest. Winners are as foilow
8: (left) 4th grade-Kristen Sawyer, (center) 5th grade-Heat
her Stallings, and (right) 6th grade-Braden Boone. These
poster received first place awards in their respective catego
ries.
Contest winners announced
Recently students from Perqui
mans County in grades four, Ave and
six participated in the local Soil Con
servatin Poster Contest.
Posters were judged on Thursday
locally and prizes were awarded as
follows: 1st prize, fourth grade: A
Recipe For Saving the Soil-Kris ten
Sawyer, Mrs. Ligbtfoot, Central
School.
1st prize-5th grade: Make Water
Walk Not Run Downhill, Heather
Stallings, Mrs. Tatum, Union School,
1st prize, sixth grade: Get Stuck On
Conservation by Braden Boone, Hert
ford Grammar School.
2nd Places: 4th grade-Amber Bass
Hertford Grammar, 5th grade-Eddie
Wyenandt, Hertford Grammar, 6th
grade-Keshia Mallory, Union School.
3rd places-4th grade-Ashley Wil
liams, Central School; 5th grade
grade-Charles Simpson, Hertford
Grammar School; and 6th grade, Re
nae Owens-Hertford Grammar
School.
First and second place winners will
now go on to compete at the district
level of competition with award win
ning posters from Pasquotank, Cho
wan, Gates, Currituck and Caimden
Counties on March 5th. First and sec
ond plance winners from Perqui
mans County and other counties in
the district will also be honored on
the fifth of March with a luncheon at
Angler's Cove.
Students who win 1st place at the
district level will go on to state com
petition later this month.
Congratulations to all the winners!
Citizens urged to prepare
North Carolina's most dangerous
weather season will start in a few
weeks with the increased possibility
of death-dealing, destructive torna
does and hurricane developing, but
precautions can reduce the likelihood
of deaths, injuries and property dam
age.
Tornadoes and hurricanes can oc
cur almost any time of the year, but
conditions favor their occurence
March through October. North Caro
lina is one of the few states subject to
both types of destructive storms.
"But residents can reduce the
probablity of deaths and property
losses by taking several common
sense precautions before a spring
storm system arrives," warns Paul
V. Cope, president of the N.C. Insur
ance News Service, a volunatary as
sociation of insurance companies op
erating in the state. Cope is Carolinas
district manager of Liberty Mutual
Insurance Companies.
Due to the devastation that re
sulted from the combination of high
tides and storms in December and
January, property along the states's
coastline is especially vulnerable this
year. Hie storms destroyed seawalls
and toppled structures, resulting in
damage estimated at $5.6 million.
"North Carolina residents need to
be especially watchful," said Cope.
"They need to be prepared for the
possiblity of tornadoes." Few Pied
mont residents have forgotten the
March 28, 1984 tornadoes that took a
toll of 57 deaths in the Carolinas and
$50 million in property damage.
Although tornadoes are more often
associated with the spring season
than hurricanes, both kinds of storms
can occur year-round.
Hurricanes are rain, thunder and
lightning storms with more than 75
miles an hour. Prevalent between
August and October, hurricanes can
strike earlier. For example, Hurri
cane Agnes hit North Carolina in
June, 1972. One danger of hurricanes
is that they frequntly spawn torna
does.
Between 1981-85, 838 persons were
injured as a result of tornadoes in
North Carolina, the highest number
in the U.S. for the time period. Dur
ing that four-year period, 70 torna
does struck the state, killing 45 per
sons. This statistic placed North
Carolina second in the country for
deaths resulting from tornadoes, be
hind Pennsylvania with 68 people
killed.
Half of all tornadoes occur between
March and may as moist air from the
Gulf of Mexico collides with cold, dry
Canadian air, resulting in a mass of
rotating air, spinning at ISO to 500
miles and hour.
"With that kind of devastating
force, the safest place for people to
go is to a basement or an inner hall
way or closet on the first floor," Cope
said. "Because of the drop in air
pressure, people in the path of a tor
nado are advised to open doors and
windows to equalize the pressure."
People are advised to stay out of
automobiles and mobile homes dur
ing a tornado. "The best course is to
take shelter in a more solid building,
like a church or a school," Cope said.
Hurricanes pose similar dangers.
People are advised to stay in their
homes, unless they've been advised
to evacuate. Cope recommends stay
ing in basements, if available, or
first-floor inner rooms, away from
windows. He also suggests closing
shutters over windows, if possible.
Survival kits containing a flash
light, portable radio, batteries, blan
kets, first aid supplies, medicine and
non-perishable food and containers of
drinking water can be critical to
waiting out hurricanes and torna
does.
"Good preparation before a tor
nado or hurricane can save lives and
prevent injuries," Cope said. Bring
in lawn furniture, yard tools, garage
cans and loose objects. "People
should listen to news advisories, and
if authorities recommend evacution,
residents should comply as soon as
possible." 1
"Although we certainly hope to be
spared additional tornadoes and hur
ricanes this year, it's best to be pre
pared in case we have to act
quickly," Cope said.
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Serving The Edenton Hertford
Area Call: 481-77SS
P.O. Box 813 Edenton, N.C.
NC families need vaccine
price release in the future
RALEIGH? Vaccine prices must
come down to prevent the spread of
long-forgotten childhood diseases,
sccording to the North Carolina Pedi
atric Society.
"Pediatricians in North Carolina
are extremely concerned that the
high coat of some state-mandated
vaccines is preventing many parents
from having their children immu
nized against potentially deadly dis
eases, such as whooping cost," said
Dr. Dave Tayloe, Jr., a Golds boro pe
diatrician. "We're concerned that
unless vacinne prices come down
soon, we'll see fewer and fewer chil
dren who visit a physician regularly
and receive all of the necessary
shots."
According to Dr. Tayloe, proper
vaccinations are one part of a child's
total medical program. Regular vis
its to a personal physician are very
important to the healthy physical and
emotional development of a child.
The physician said that vaccines
today are so expensive that many
parents are forced, for economic rea
sons, to take their children to public
health departments? where immuni
zations often are paid for by the
State? or forego vaccinations alto
gether.
While the state's health depart
ment pays only $3 per dose for the
DPT vaccine under a low-cost fed
eral contract, private physicians pay
as much as four times that price? in
part to cover the cost of liability in
surance for manufacturers.
North Carolina's immunization
program office reports that vaccina
tions in public health clinics have in
creased by nearly a third since 1985.
This trend worries public health offi
cials and pediatricians in the state
who say that the clinics neither have
the staff nor budget to handle the in
creased patient load.
In 1966, 88 cases of whooping
cough, also known as pertussis, were
reported in North Carolina, more
than double the number in 1965. One
Forsyth County child died of the dis
ease. The rise in reported cases of
whooping cough in the state parallels
outbreaks seen across the nation.
"We believe that the General As
sembly helped North Carolina's chil
dren last year by providing no fault
compensation for those few young
?ten injured by state-mandated vac
dilations," said Dr. Tayloe "It was
our belief that the statue would lower
vaccine costs in North Carolina, but
unfortunately this hasn't occurred
yet."
About one in every 310,000 children
suffers unpredictable permanent in
Jury as a result of the vaccine.
The legislation protects health care
providers and vaccine manufactur
ers from lawsuits unless the, State
has grounds to believe that they were
negligent in the administration or
manufacture of the vaccine.
Vaccine manufacturers have said
they will reduce for certain amend
ments to the 1986 law. Their sug
gested amendments would:
Abolish the 1989 Sunset provision ;
Prevent the "black marketing" of
low-priced vaccines with stiffer
criminal penalties;
More clearly define "defective
product;"
Ensure that any legal proceedings
pertaining to state-mandated vac
cines administered in NortlfjCaro
lina after October 1, 1986, will be held
in the state.
Before an effective pertussis vac
cine was developed in the 1940s,
nearly one of every 500 chikfeen suf
fered from the disease and about
7,500 died annually. Currently, fewer
than one in 100,000 children are af
flicted each year. North Carolina and
most other states require all children
to be vaccinated before they are ad
mitted to public school.
Pertussis vaccine is usually given
in combination with tetanus and dip
theria toxoids (DPT) starting- at two
months of age. Additional doses of
DPT are recommended at ffiur, six
and 18 months and between Your to
six years of age.
"One of the main goals of the N.C.
Pediatric Society is to work with
other child advocacy groups and
state government to make immuni
zations available to every child at a
reasonable and afffordable cost,"
Dr. Tayloe stressed.
The N.C. Pediatric Society is a
group of more than 600 physicians
throughout the state who specialize
in medical care for young people
from infancy through adolescence
and young adult life.
Livestock meeting dates
By JEFF COPELAND
Area Livestock Agent
Livestock Producers Meetings?
Perquimans, Gates, and Chowan pro
ducers have two upcoming meetings
at the County Extension Office in
Hertford.
Annual Cattlemen's Breakfast
featuring Paul Mueller, NCSU For
age Specialist on Pasture Manage
ment-New Zealand Style; Steve
Washburn, Reproductive Specialist
for Beef and Dairy on Heifer Selec
tion and Sixty Day Breeding Pro
gram; Billy Elliott, local producers
speaking on Simmental Cattle. (Fri
day 7:30 a.m., March 6)
Pork Producer's Meeting? featur
ing Jack Parker Area Swine Special
ist on Ventilation In Hog Houses;
Terry Coffey, NCSU Nutrition Spe
cialist on Mycotoxins; and Scott
Alons, Feeder Pig Coop Manager on
the Local Coop In Edenton (Tuesday
7 p.m. March 10)
Both meetings have sponsored
meals, and producers should call 426
5428 to reserve their spot at the table.
?Business and Residential
Steam Cleaning for
carpet and upholstery
338-2244
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Serving the Hertford Areo
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335-0747 ? office
SUGGEST TO YOUR ROOFER
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Q\ AMAZING HOW MUCH TIME
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GORDON SHEET METAL
ELIZABETH CITY 315 S. ROAD ST. 335-5404