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KINGS mountain HERALD. KINGS MOUNTAIN. N. C.
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2
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Suggestions Foi Saving Money On 1969 Fedeial Income Tax Are Listed White Named Fanners: Note
Looking for tips that will savOj
you money and trouble on your
IJXJH federal income taxes?
Then, consider these sugi^es-
llons made by Charles R. Pu^h
and James 'G. Allgood, extension
economists at Nctrth Carolina!
Slate University. ,
Pugh and Allgood’s suggestions
are primarily for faiTners, but
they may also be of assistance to^
other taxpayers.
1. Kile your return on time. The
deadline for a farmer’s return is
P^eb. 17, 1969, since the usual Fob.
15 deadline falls on a Saturday.
The deadline for a wage-earner
filing a personal return is April
15.
2. Use the proper forms. Attach
statements as necessary to fxilly
explain entries.
3. Make sure rocoixls are avail
able to back up your claims,, No
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•n /lAniiina P.harAf Prilitwood veneBrs end
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by tax authorities as long as the;
rocoixls are complete and accu-:
rate.
4. Double chock your arithme
tic. A simple error in addition
may result in a complete audit
of your return.
5. Seek professional advice from'
such i>eople as accountants and'
attorneys on (omplex tax prob-
leims. Use the Instructions Man
ual sent to you by the Internal,
Revenue Serviee. County exten
sion (>ffic(*s alao have free <'opies
of the “Farmer’s Tax Guid<*.’’
Pugh and Allgowl listed five
fipwific suggestions which they
said could save farmers and oth
er businessmen money if proper
ly u.sed:
1. Deduct depreciation on all
allowable items used on the fann
or in the business to produce in
come.
2. Doffuct land clearing and
soil con.servation exp<*n.ses as
long as they do not exceed the
specified limits. These <-an be
claimed as deductions under most
conditions. ;
3. Use the capital gains provi-'
sions of S'chedule D where possi
ble. Gains on the sale of capital
assets and someti-mes the gain on
items used in the business are
taxed at half the rate oif ordinary
income. Also losses on most cap
ital items are deductible on Sche
dule D.
4. Use the tax advantages of in
vestment credit. Seven per cent
of the cost of machinery and
certain other items used in the
business and lasting eight or
more years can be deducted di-
reclliy from the incom<‘ tax. That
is right; it is a cixxlit against the
lax. not just a (l(‘duction against
income*.
5. If nonbusiness deducrion.s
are itemized on Form 1040, n*
member that half of hospital in-
suranc<‘ premiums can be <le{luet-
chI. This is tru<‘ ev«‘n if other
medical and dental exp<*nses an*
loo small to he claimed as a de
duction.
Along with off<*ring llie above
srggestions for saving mon(*y,
Pugh and Aligood listed ways to
avoid some common mistakes
made by farmers and other tax
payers in filing u federal re
turn:
1. Miscellaneous sourc<*s of in
come, such as that fix>m govern
ment farm programs and cuslJim
machine work, should be report-
(*d as re(|uinHl by law.
2. A distinction should be made
hetw(*en busine.ss exp(*nses and
personal expenses with such ilem.v
as utilities, taxes arki insurance.
3. Reasonable lertgths of life
should bo assigned to deiji’cciaiblc
property used in Mie business. If
this is not done, the profit from
the sale of this prop(*rty may
have to be taxed as ordinary in
come rather than as capital gain.
4. There are complications if
machinery or ec|uipment is not
held as long as was intend<»fl
when investment cr(*dil 'was
claimed. For example, a farmer
might buy a machine which he
plans to keep for eight years,
and he claims 7 per cent of th<*
cost of investment cnxlit the
year the machine was purchase!.
But suppose* the machine does not
To Round Table FLSA Minimum
Wage Change
GRKKNSHORO, N. C. R. D.
White, agent, local repies(‘niative
of South<*rn Life Ins. 0»., home
oflii'os in GretuislKjro, N. C., has
bien named a member of the
Southern Quality Round Table.
Membership is awarded to those
meeting the leadership standaixLs
of superior saU's and service to
Souilu'rn Lib' policyowners of
uhich less than 9'< of the com
pany’s entire sales organization
in its 12 southeai^tern state and
District of Columbia operating
area (jualified in 196S.
In addition to the uniciue scroll
signed by the entire* membership,
the S.Q.R.'r. insignia tie tac has
been present<*d as a tangible
memento of the honor earn(*d.
Trim the fat b<*fore you eal the
meat, recommends the North
Carolina Heait Association. An
imal fats art* high cholesterol.
Give your heart a break; reduce
your intake of cholesteml.
work satisfactorily and the far
mer sells it in h?ss than four
years. In this case, the full in
vestment credit must he* r<*c‘ap-
tured.
5. The cost of items purchased
for resale should be deducted in
the year in which they are sold.
F'or example, a livestock fe<*der
might buy fe(*der animals in the
fall df 196S for sale as slaughter
animals in the spring of 1969.
The cost of these animals should
be deducted on his 1969 returns,
not on his 196S returns.
UNBEATABLE VALUESI BUY NOWI
■’0
DEALER
ANNUAL 1ST0F YEAR
XMlili
SEGmojIAR
CIIARLfrrrK, X. C. Fann
ers are r<*miiKied that th<* mini
mum wage in cov<*ixxl employ
ment advances from SI.1.5 toSl.30
an hour on Fc*hruary 1, by Fn*d
K. Carlock. Field Office .Sui>er-
visor of tin* L*. S. Labor Depart
ment’s Wage and Hour and Pub
lic Contracts Divisions.
Principally coverex! an* large-
scale farming operations involv
ing use of more than .5(K)-maii
days of agricultural )ai)f)r in any
calendar (piarter of the preced
ing calendar year.
Overtim<‘ pay is not ixxpiired
but the minimum wa,.:e applies
regaixlless of wlu'lher pay is by
the hour, or on a salary or pi(*ee-
woi'k basis.
‘'Man (lay* means any during
which an employiH* performs
agricultural labor for not h*ss
j than one hour. Some local casu«l
hand harvest labor<*rs paid piece
rates are excluded when count-
ing "man days" and arx* ex(*mpl
I from the minimum wage provi-
i sions of the law.
1 Farmers are also ix*mind<‘d that
r they may not employ children un
der 16 whether migiant or lo
cal in farm work during scho»>l
hours for the district wh<‘re th<*
j children live w'hile so emphnxxl.
j Neither, Carlock (‘xplaincd,
may any cliihl under 16 be em
ployed in agriculture in an occu
pation found b ythe Secretary of
' Labor to b(* liazai dous. except
where the child is employed by a
parent on a farm owri<xi by ih<‘
parent.
Official posters, which must be
displayed, have been mail<*d to
many farm employers by the Di
visions. Additional posters and
information also mav lx* obiain-
ed from the neart‘sr WIIPC re
gional or field office, locat<*d at
401 BSR Building, 316 East Mryre-
On Vietnam Duty
WITH r. S. COMBA'P FORCES.
Vietnam Sergeant Danny B.
Pruilt, .son of Mr. and Mrs. Hiy-
son J. Pruitt, 402 Author Avt*.,
Gastonia, N. C., Ls on duty at
Phan Rang AB, Vi<*tnam.
.Serg(‘ant Pixiitt, an aiivraft
mechanic, is a mombt*!* of the
Pacific Air Forces.
I^*fore his arrival in Vietnam,
he was assign(*d at f.angley,
AFB. Va.
7'h(* .s<*rg(‘ani is a 196-1 graduate
of Frank L. Ashl<*y High School.
His wifi*, Lois, is th<* daughter
of ]Mr. and Mrs. Burl Sisk, ,512
S. 12tli St., Hess(‘mer City, N. C.
Bonds Sales
Set Record
The sale of Si'iii’s K and H
pjonds and Frc<*doin .Shaix's si*t a
n<*w peac(*-lim(* r<*cord for Nov-
<*mbcr in Nortli C’arolina. Total
Rond sal(‘s w<‘re up over Ni)\<*ni-
Ix'r of a year .igo n<*ai ly 7 ix*)-
cf*nt ami amount<*d to $5,205,675.
The cumulativi* sales of Sav
ings Bonds and Fn*<*dom Sharr*s
for January through Novemb(*r
amounted to $.59..5T1.061 which is
an inrr<*ase of nearly 7 |)i*ixx*nt
over 1‘lie sam<* p(‘n<Ki of a year
ago.
Through Nov<*mbi*r S6.6 p(*r-
cent of North C'arolina's annmd
(piota of $6S,S(HI,O^IO lias been o-
chieved. Tliis is tlu* highi*st .sale>
volume r<*coi(k’d in Ibis period
since the* (|uoia system was be
gun.
(‘ash sali* of BoikIs and Froi*-
fiom Shares in Cleveland Counfy
for Nov<*mber w<*r<* $si.695. Jan
uary • Novemiier sa!<*s totalel
S60i.9.56. This repri*sents 101.2'^
of Cleveland County’s goal of
$577,920. according to Mr. George
Blanton. Jr., CIev(*Iand County
Chairman.
head Street. Charlotte, North
Carolina 2S202. Telephone 7ol
372-0711, ext. 131.
Thursday, January 23, 1969
Lithium Prices
Are Extended
HOUSTON. TEXAS Li I Iviurn
C'orporation of America, a sulisid-
iary of Gulf Resources & Chem-
i('ai Corporati^^ announced to
day a n<*w puslwi price schedule
for multiple hopper car deliveries
of lithium carbonate. Previously
publi8h<*d prfees coverwl 2 multi
ple hop|x*r cars.
'rhe n(*w price schedule reflect.s
prices of 13c lb. for 2-9 multiple
hopper cars (‘ontaining a mini
mum f)f 115,tKX) lbs. eaiih and 39c
lb. for 10 hopper cars and over,
delivered U.S.A. within a 12-month
ix»ri(xi. For customers who can
not take shipments in bulk J?op-
per cars, deliveries of bag-pallet
ized lithium carbonate in these
quantities carry a I'sc lb. extra
price.
According to Elwin E. Smith,
Executive Vice President of Lith
ium Corporation of America, the
new multiple hopper car price
sk hc<liiU' was cn*ated to encour
age (X)mmercial use of lithium
carbonate by the aluminum in
dustry. Se^veral major aluminum
companies, both domestic and in
ternational, have been piloting
the use of lithium carbonate over
the past 3 years as an addition to
the cryolite bath. The lithium ad
dition reporiedl.v incix*ases the
prrxluction of aluminum per cell
above that of design capacity. '
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Di.Wlute,
Heart Expert,
On Eden Rostei
CHAPEL HILL “How Lor^
Should We Live” w'ill bo the siib-
j(*ct of an address by Dr. Paul
Dudley White, world renowndri
heart specialist, when he address
es meeting in Eden, North
Carolina on January IS, 1969. -
Dr. W'hite, who gained nati<mal
public recognition in 19.55 w'hen
iu* acted as special consultant to
former President Eisenhower
the time of his first heart attack*
is a founder of the American
Heart Association and a leadini?
authority in the field of cAxlio-
vascular disease.
He will be assisted on the E^en
program by Dr. Ernest Craige.
Cardiologist, from the University'
of North Carolina, and the Pres
ident of the Association of Uni-
versfty Cardiologists. AIm) on tl|e
program will b** Dr. Walter L.
Floyd. Professor of Medicine, Efi-
vision of Cardiology, Duke Um-
versity.
These three leading heart spe
cialists will appear at a special
public program designed to af-
(p:aint the public with the steps
they make take to help prevent
their risk of heart attack. Spon
sored bv the Rockingham Ciouft-
ty Heart Association, the pro
gram is entitled “Hearts arttl
Husbands" and will feature a
question and answer period at
I which time the public may ad
dress (juestions to the heart spi^
cialists.
The "Ht^rts and Husbandi**
program If scheduled from 3:30
p.m. till 5:00 p.m. on January Ifi
at the Morehead High School Ap-
ditorium in Eden, North Carolina.
The program is free and the
public is cordially invited to at
tend and to participate.
Designer Touch
Clothing Trend
RALETOH Add that “de
signer Toui'h’’ to your rtwn honi
sev\’ing creations, suggests Doro
thy Barrier, extension clothing
si>ecialist, North Carolina Stai
University. 3
If you’re already an atx*ont
plished seamstress all it takes i
an idea and some courage. Ideas
might include leather pipings,
hand sewm zippers, h^nd "pick^’
edging aewnts and inside sul
trims. j
Leather piping sewed in fht
seamlines accents interesting gai
ment lines, the specialist noleJ.
Cut and make your own pipinc
from leather scraps or buy sinv
ilated leather strips by the yard,
she advises.
The couturier method of pu •
ting in a zipper by Ivand - •
can be used on any garment. Bu ^
it’s especially good for sh(*en,
synthetics, knits, napped or pH *
fabrics and lightweight, sol :
wool. Use a fine needle, matchin ;
thread and the half back-stitcl.
Keep stitches even and tiny o i
the right side of the garment.
Hand "picking.” all the wa •
from H* to f inch from the edg *
of a gai’mont or si>am line, i;
done with Uio same stitch as use I
in putting the zi^iper; the hal '
back-|J||ch. On lightweight fal ■
•ics IMF embrokieiy floss, silk o‘
merc<»riz<d cotton thread. Bu'
for heavy wools, stuixiy buttor •
' hole twist is best. j
For some inside flattery^ oi
■iiiit jackets, try tacking an en^-
broidered ribbon or braid over
the lining edge where it meets
rhe front facing. Or a tailort
weight in the form of a goIC
chain hand-tacked to Hie Insidf
bottom <dge of a jiuit jacket n<<t
only adds some decorative trini,
but makes a jacket hand straight,
i Remove it, though, when you
I the gaitnent to the dryclean-
I as the shape of it might press
i through to the right side.