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f Thursday, April 14,1966 TAX FACTS THE McHENRY PLAINDEALEH Section Two -- Page Five Q - How do I report the gain from the sale of my hone? A - This should be done on Schedule D. If you do not have a copy contact your local IRS office. Instructions are on the form. Q - I made over $10,003 last year for the first time. Does that mean I have to file an estimated return this year? A - Yes, if the total estimated tax exceeds your withholding by $40 or more. The requirements for filing estimated returns* Form 1040ES, are Riven on the form and it would be ivi8e for you to check them. Declarations of estimate^ Jtax should be filed if your expected tax liability exceeds ^withholding by $40 or more and either (1) your Income exceeds •£5,000 for an Individual or $10^ J)()0 for married Couples filing •jointly, heads of house holds Jtnd certain widows and widow- 4>rs; or (3) more than $200 ojf income is from sources not su& ^Ject to withholding (dividends, •business profits, etc.) * Q - I've heard that your a* ^ents are paid based on the •amount they get when they ^atfdft returns. Is that right? < A • No it is not. There is 1io commission system, per? Rentage deal or quota for our •audit personnel .or any other 2RS employee. All employeef •up to the Commissioner are "Civil Service emoloyees who 3re rated on a merit system* - Q - Is a statement from ^ /factor sufficient to establish 4 •medical deduction? I A • Such a statement may -|>p used to establish the fac| Jhat you had a deductible ex< J»ense but you will also need jecords to show that the ex? pense was paid during the taX year. A statement from yougr doctor which included this in? formation usally would be ac* ^eptable to support a medical Reduction. Q - What can I deduct for «ales tax this year? * A The 1040 instruction Jwoklet has tables that you 9nay use as a guide. * Q- When is the sale of a +iome by someone 65 not Jaxed? . A - If you are 65 or older tuid sell your home, you may ^exclude the entire gain from 4he sale if the adjusted sale J)rice is $20,000 or less and It ^ou owned and used the hoin0 •to your principal residence foi total of at least 5 years •within 8 years from the date sale. If the adjusted title •price is over $20,000 vou jrtiay Jexclude part of the gain,.,. , Note that this provision ap- •plies only to those 65 years "of age and over, and that it is •available only once in a life* .•time. Other taxpayers who sell ^theij homes should be sure to ^•jghecfc tile 1040 instructions and wlichedule D. " Q - I just got my refund.' WIMNERS OF EASTER DINNERS Sponsored by McHenry Chamber of Commerce and the following Businessmen M1LL8TREAM DRUGS Mrs. Jean Sirtak COAST TO COAST Mrs. Ralph Bennett AGATHA GIFTS Mrs. Arnold Anderson WHITE'S MEN'S SHOP Julius Goffo VYCITAL'S HARDWARE Walter Kuck NYE DRUG John F. Arvidson SHAY'S MUSIC WORLD Mrs. Angela Smith THE CASUAL SHOPPE Mrs. M. J. McDonough GEM CLEANERS Robert Schaefer GENEVIEVE'S 3frs. Robert Wilcox L&H TELEVISION llHike Wowczyk MM'S F.S. SERVICE William Dicker McGEE'S STORE FOR MEN Martha Freund CAREY APPLIANCE John N. Miller GLADSTONE'S, INC. Mrs. Madeline Jones BUSS FORD SALES Fred J. Meyer McHENRY STATE BANK Mrs. John R. Freund BEN FRANKLIN Eileen M. Hodgson BOLGER'S 1 Anthony Piasecki JUSTEN FURNITURE Mrs. H. J. Kulasik WING 'N FIN B. G. Francke Can I throw last year's tax records away? A* No. Records should be kept as long as needed for tax purposes. This means a minimum of three years from the time the return was .due. Some, like records on the pur* Chase of a home, should be kept mtteh longer. They would be needed to establish your post basis. Q - I heard that IRS has booklets for keeping track of tips. How can I, as an employer, get enough copies for my employees. A • CaU your local IRS office and ask for Document 5885, a pocketslzed booklet which has been prepared to help keep a daily record of tips. It Is free and contains forms used to report tips to employers as Well as a brief explantlon of the law. Q' - We lost several trees to an ice storm. Is that a deductible item? A - If the trees were on land held for your personal use, it --provided you can show that the "loss resulted in a decrese In the value off your real estate as a whole and it was not covered by insurance. Photos before and after the storm may be helpful in establishing the extent of damage. Note that if you do have a casualty loss on property held for personal use, the first $100 of the loss is not deductible. Q- Why does my wife have to sign our joint return? She had no income. A - The ( law requires it. Even though she had no income, on a Joint return she is as legally responsible for any tax liability as you are. If the return is not signed, the processing will be delayed and any refund due will be held up. Q - May 1 deduct interest on a life insurance policy loan ^which I took out last year to make home repairs? ' A • You may deduct it if you are on a cosh basis and actually paid the interest during the tax year. If, on the other hand, the interest is added to the total amount of the loan, a person on a cash basis may deduct the interest only when the loan is finally paid off. Q - Under what conditions can educational expenses be deducted? I'm a teacher and take courses from time to time. A - Ordinary and necessary education expenses are deductible If they are incurred primarily for the purpose of (1) meeting the express requirements of your employer or the requirements of the law or regulations or (2) maintaining or improving the skills required in performing the duties of your present employment. These expenses are not deductible if the primary purpose for which they are incurred Is to obtain a substantial advancement in your present position, a new position, ot to fulfill your general educational aspirations or for other personal purposes. Q - Where should tax returns be mailed? A - The address is given In your 1040 instructions. In most cases this will be to your district director. In seven Southeastern and five Mid-Atlantic states and the District of Columbia, however, a return calling for a refund may be mailed to one of the Internal Revnue service Centers. Those states and the respective Service Center addresses are listed in the instructions Q - What do you have to do to qualify for the retirement income credit? A - You must have earned more than $600 from wages, salaries, or other compensation for personal services for each of any ten prior calendar years before the current year. You also must have retirement income in the year the credit is claimed. Q - Is the money I received from my credit union account considered interest or dividends? & A • It is considered interest and is fully ^taxable. "OUTDOOR"TALK GIVEN AT FOREST PRESERVE MEETING COUNTY MEDICAL ASSISTANTS TO HEAR SPEAKERS The McHenry County Medical Assistants will hold their monthly meeting in the conference room at McHenry hospital on Thursday, April 21, at 8 p.m. The program will be "Resuscitation". A guest speaker for the evening will be, Robert Pahl, lieutenant in the Cary Grove rescue squad and also first aid instructor for McHenry county. Mrs. Pahl has given many courses- in first aid at Northwest Community hospital. John Benson, lieutenant with the Arlington Heights fire department, will bring with him the external chest compressor and the dummy known as "Resusa Ann". Those present will have an opportunity to hear Mr. Benson explain the " proper use of mouth to mouth resuscitation and the external chest compressor. Afterward, the assistants will be able to work with both "Resusa Ann" and the machine. Richard Gray, president of the Cary Grove resfcue' squad, will talk of his experiences last summer in which he saved a little girl's life by mouth to mouth resuscitation after she had fallen into the Fox river. All Medical Assistants are cordially invited to attend. "Outdoor Education" was the subject explored by Robert Weiriok at an informative meeting devoted to the Forest Preserve referendum for McHenry county. Weirick, director of the Rockford Outdoor Education center, emphasized that conservation and nature study are not isolated areas of study but also incorporates soc i a l s t u d i e s , a r i t h m e t i c , science, language arts, reading, art, music and physical education. To illustrate the abovqr* he pointed out that a field trip to a rock quarry must involve the study of rocks to determine the structure of the formation and the type of rock found there. Through the arithmetical process and a knowledge of the rock, it is possible to determine the length of of an exposed quarry wall. If time involved in the creation* the rock is limestone, which is prevalent in this area, it can be assumed that water covered the area. Weiriek continued that the processes of arithmetic and science are again envr ployed to determine how much water was present at one time to construct that particular rock formation. The student i$ then stimulated to ask wherfe that water went, what kind o| marine and animal life was oresent and what uses 1 were made of the rock. This is lanf guage arts and the knowledge is gained by reading about it* "The study of nature through science," continued Weirick; can stimulate the student t<? Use nature to make a better life and to provide better materials for industrial use and consumer products. Of equal importance, the study and em joyment of nature can preparer children for wise use of leisure time." ; "The purpose of outdoor edu« cation," Weirick emphasized; "is to instill an awareness in the student of the complete interrelationship between man and his natural environment; In spite of our advanced mechanized age, every manufact tured object we use eminates from natural resources. There? fore, it is absolutely essential ' Here and There In Business JOINS FIRM Edward W. Vilim of McHenry has just joined Gladstone Realty in Des Plaines. Vilim was born in Chicago in March, 1926. He served in the U. S. Navy during World War II as an aviation electricians mate. Vilim was employed by the Public Service company in Maywood for ten years after the war. During this time he served as treasurer for the I.B.E.W. local union. Subsequent to his experience with Public Service he entered his pwn business in the automotive field in Glen Ellyn. Previous to entering the real estate field, he was a communications consultant. Vilim has always identified vvith his community, serving as,, treasurer of the McHenry Shores Club, Inc., a civic group dedicated to the betterment of the community and most recently served as a committeeman on a recent bond referendum for a new high school in McHenry, He and his wife have three daughters, Shirley, Barbara and Debra, ages 16, 14, and 5, fespectively. TIDY MAGHOST RUG CLEANERS at Woodstock PHONE 388-1000 BUSINESS MOVES The Stoffel & Reihansperger Insurance agency moves this jveek from Main street to its ijiew location at 2438 W. Elm Street, near the corner of Green and Elm. , The move is noteworthy because the firm, one of the oldest in existence in McHenry, i.-- friat modern man understand this concept in order to better Utilize these resources." has been in the same building since 1919. Prior to that time business was carried out, fnfrm its founding in 1884, in the Stoffel building now known as the LLL Apartment building on the corner of Front and Main streets. ^The business was established at that early date by the late Simon Stoffel. His daughter, Miss Clara Stoffel, who retired in 1964, worked with her father for many years and became a partner in 1942. In 1925, C. J. Reihansperger joined the firm and the name was changed to the present Stoffel & Reihansperger. His son, H. C. Reihansperger, joined the firm in; 1947 and became the sole owner with the retirement of Miss Stoffel two years ago. JAMES W. COOK Above is James W. Cook? who; became president of Uliriois Bell on April 1. He sue-' ceeded John D. deButts, head of the company for the past four years who is now executive vice-president of the AT&T company. ATTEND SCHOOL Two McHenry area men from Carl Wperner Heating company, Robert E. Baur and Robert S. Holm are attending an air conditioning school. The "school" is held annually in a special classroom in the Worthington Air Conditioning company's Climatrol plant, Milwaukee. ATTEND CHURCH SUNDAY EI GALLON iHiBnca-BtTSHoa LATEXALKYD Save the cost, tlrfie and labof of tiling your basement floor. Roll on & vinyl flodr* quickly, effortlessly, inexpensively with .Luminall Concrete Floor Paint. Resists scuffing and chipping, takes the roughest' treatment in stride. Your choice of rich one-coat colors, all sale-pricedl M, 3819 W. Main 883-1115 CHRISTIA NSCIENCE SUBJECT "t>oc trine of Atonement" will be the subject at the McH e n r y C h r i s t i a n S c i e n c e church service this Sunday. Bible passages to be considered will focUs on Jesus' parable of the prodigal SQn (Luke 15), and end with his statement, "And I, if I be lifted up from the earth, will draw ail men unto me." Shop In McHenry See "MARIES" BINGO SPECIAL R.C.A. Solid Slate STEREO Radio-Phonograph AM-FM-FM Stereo Discounted $20So@§ F.Mo Radio & Television 1326 N. Riverside Dr. PHONE 385-0979 SHOP *N ¥ 9 t @ 9 SUNDAYS 9 t o 6 CO : H IE ©F THE 4-PLY TIRE! I ST fm YOUR SIZE AND PRICE! I'UK i 6:50-13 $18.88 7:00-13 6:50-14/6:95-14 $19.19 6:00-15/6:85-15 $18.77 7:00-14/7:35-14 6:50-15/7:35-15 $19.67 7:50-14/7:75-14 6:70-15/7:75-13 $20.64 8:00-14/8:25-14 7:10-15/8:15-15 $22.88 8:50-14/8:55-14 7:60-15/8:45-15 $23.92 9:00-14/8:85-14 (ww only) 8:00-15/8:85-15 (wwonly) $26.80 IE lyPlllAL Tlltli tin* Full 4-Ply Tyrex Rayon Constrao- • tion -- Safer . . . Stronger! ®iiQ HigheoS duality and 8«ivtctl flBa Premium-Built-- NEW Chlorobutyl "Safety-UiNi** Holds AI? 8 Times Betterl NEW Wider "Wrap-Around" Tread--Better Con* trol... More TractionI NEW "Powersyn" Rubber--Gives You Up to 3373% More MilesI NEW "Hi-T" Tyrex Rayon Cord -- for Greater Strength . . . More Stability! Original Equipment Quality 6.50-13 Black Tubeless Tyrex Rayon plus Tax •All prices shown are plus Federal Excise Tax. Available in whitewall at slight Additional cost Ask About Cooper's New "No-Limit" Full Service Tire Guarantee! INCLUDES: • Cheek cylinder compression; clean air filter. • Check plugs • Check points, condenser • Balance out carburetor and set timing • Clean fuel bowl, filter --check distributor cap and wiring • Check fan belt, check resistance ignition wiring. • Check starter capacity, voltage regulator, generator. F# For MW !YS" ...Your Budgets "No. 1 HE!®01 Yes, if you're one of the many thousand Hornsby's "fans", . . . you'll really "cheer" for these exciting buys . . . Exceptional savings on ready-to-wear, glassware, candy, and beauty aids. But, that's not all . . . Hornsby's feature 41 other departments of "first string" merchandise . . . priced to "score" a big hit with your budget . . . So, why not shop to "win" . . . Shop Hornsby's SOON! Smart 'n Practical LADIES COTTON All the newest styles and patterns (S-M-L) Reg . $2.00 Dainty and Feminine GIRL'S FANCY I®A YON P^MTY Comfort - Cut Sizes 6-14 Reg. OQ* 59c £mO pr. SPkAY GIRLS FULL SLIP /H Made of the new miracle fiber iggi Kodel -- As't Colors Sizes 6 - 14 Reg. $1.98 Practical & Longwearing (ERS Styles & Sizes to fit Ladies Girl's & Boys Reg- no* $1.00 Val. 99 Anchor Hocking Glasses & Tumblers Set of 4 6-oz. Avocado JUICE Reg. GLASSES 69c Set of 4 12-oz. Honey GOLD Reg. TUMBLER 98c Dif Set of 4 12-oz. Avocado TUMBLERS Reg. e 98c TUNE 66 Six CyL Parts Plus Adjust automatic choke fill battery Check positive crank case ventilation system. eigM eyL plus parts AIR CONDITIONED CARS EXTRA $2.50 Gay and Cheerful H ^3 s e ^ i p IKp.t0!' Shut D a SJrBA,N,I'o 'A A? f5 ® ®° • Package «'«S2-4_# W Si"?Jr. 76# Bikini, Triangle style Ass't Colors and Patterns Beg. 59c Til® [Mew DRYAD SPRAY 0EOD6RANT Reg. 89c BeawSifull^ SSyled These frilly and dainty little shades, are sure to add a charming touch to any room -- fits all standard lamps -- decor, colors. Reg. $1.49 Val. I 3314 W. Elm Street , Phone 385-0424 TWO * LOCATIONS 3Q31 W. Elm Street Phone 385-0426 BimcHS Delicious Chocolate " STARS Reg. 4Al 69c lb. Vv HORNSBY'S FREE PARKING IN OUR STORESIDE LOT OPEN DAILY 9 to 9 SUNDAYS 9 to 6 Shop 'n Save At Hornsby*s Here in McHenry And in Nearby Buffalo Grove