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Johnsburg To Graduate 155 PAGE IS - PLAINDEALER-WEDNESDAY, JUNE 5, 1974 Melinda Sue Dominick Donald Joseph Donovan John Dougherty Robert Edwards James Eichhorn Steven John Erickson Linda Marie Pick Ronald J. Fiedler Ronald J. Fleischman Marie Flick Lorinda Fossum Jeanine A. Franz Debbie Ann Freeland Donna Jean Gaylord Christine F. Gerhardt Gloria J. Gowin Gail L. Greenwood Cindy M. Gribben James Hall Debra Ann Hanna Fred Hernandez Gina Marie Hoffman Mary Hoffman John Holte Karen Huebner Jeffrey Hurckes Michael Jackson John M Jenkins Mark A, Mennison Russell N. Jones John James Kanter Cynthia Louise Kenneback Robert R. Kenney Michael Dean Kerby Lori Khidirian Deborah Lynn Kitterman Joseph Gerard James Kocher James G. Koester Lynn Marie Kofler Tim Kraus Katherine Kunkel Joan Louise Leittl Nancy Jean Leuth The following 155 eighth graders will graduate in Johnsburg School District 12 Thursday night, June 6: Daniel wpiam Allison Dwayne Robert Allison Kathleen Mary Alonso Cail Skipp^t Ames Jon Cart Anderhub Roberta Lynn Andersen Scott Arthur Anderson Dirk Andreas Gerianne Armon Neil D. Barbour John Barry Laura Anm Bavetz Arthur Bentz Kathryn Leigh Besaerud Chris E. Blair Catherine Ann Boak Linda Lee Bonk/Matthesius Cheryl Sue Boomfield Troy E. Boutin Lisa Hretiner Robert Bringle Re gina Brock Gorton Brodin Dancll Butler Richard Adam Calkins Donald Lloyd Campbell Catherine Diane Carpenter LealieCoble David-Byron Covalt / Cory Lynn Culliton Kevin Culliton Brent William Dack Kenneth Domin " -t* --i ' Dan W. Lewey Charles James Logan Robert A. LoPresti Robin Marie Lusk Donna Malik Jerry W. May Randy McGehee Rose Mercado Lin Miyaki Larry D. Morin Mike Morissette Mary Murgatroyd Colleen J. Murphy Kenneth Neeley William Joseph Neumann Mary Elizabeth Nowak Timothy Peter Oakley Douglas Oeffling Michael Oeffling BretC. Oertel Joseph O'Malley Scott Parfrey Sherry Marie Pechous Jeffrey Allen Pergande Layne Peterson Suzanne Peterson Carol Lynn Pinkonsly Joe J. Poczkalski Raymond Poczkalski Jeffrey M. Rad Richard E. Ramberg George M. Rank Natalie Ready Kim Marguerite Rich Gregory L. Roberts Jeffrey Roberts David M. Roble Re nee M. Rokosz Theresa Sampiller Sandra Eve Sanders Rocco A. Scaturro Ray Schmidt Dennis Michael Selof Dawn Rene Shaw Jeffery Paul Silzer >» Gregory A. Sisk David Charles Smid Carolyn Smith Kristina Sue Soderquist Tamela Suratt Jody Lynne Talbot Gerald W. Thiel Ronald L. Thiel Thomas B. Thompson Deborah Tibbs Lor in Toepper Shirley Marie Tonyan Michael J. Tripp Joseph E. Turuc Anza Visconti Robert T. Vrasich Tery Wadington Sheryl A. Weber Karen Weidner John L* Weingart Leisa Weingart Alex Wekerle Joseph M. Wendt Michael C. White Mark David Whittington Diane Lynn Williams Charles J. Wisner Thomas Richard Woellert Randy Woody Michael Wright . Betty Lynn Zamastil Patricia Ze gar ski / Joseph A. Zelinski. Jr. Kevin Zimbrick Stand-up desks were standard, many years ago, on the theory that standing was less conducive to napping, than sitting. 1 PLANNED USE REPORT ~~ GENERAL REVENUE SHARING General Revenue Sharing provides federal funds directly to local and state governments. The law requires each government to publish a report of its plans for the use of these funds to inform its citizens and to encourage their participation in deciding how the money ought to be spent. Within the purposes listed, your government may change this spending plan. PLANNED EXPENDITURES CATEGORIES (A) 1 PUBLIC SAFETY 2 ENVIRONMENTAL PROTECTION 9 PUBLIC TRANSPORTATION 4 HEALTH 5 RECREATION 6 LIBRARIES 7 SOCIAL SERVICES FOR AGED OR POOR B FINANCIAL ADMINISTRATION S MULTIPURPOSE AND <-, GENERAL GOVT. 10 EDUCATION 11 SOCIAL DEVELOPMENT H i 12 HOUSING ft COM­MUNITY DEVELOPMENT 13 ECONOMIC DEVELOPMENT 14 OTHER (Spacify) IB TOTALS CAPITAL (B) OPERATING/ MAINTENANCE (C) THIOOVMNMKNTOF UAKEMOOR VILLAGE ANTICIPATING A GENERAL REVENUE SHARING PAY­ MENT OF 638 FOR THE FIFTH ENTITLEMENT PERIOD. JULY 1.1974 THROUGH JUNE 30.1975. PLANS TO SPEND THESE FUNDS FOFLTHE PURPOSES SHOWN. Y ACCOUNT NO. 14 2 856 009 LRKEMOOR VILLAGE VILLAGE CLERK 400 W RAND RD PIC HENRV ILL 60050 (D) The newt madia htv« baan advlMd that a copy of this report hat baan |-i* " Nad In a local nawapapar of ganara! circulation, i nsvc rtcofoi oocuirmiuiiy wit coniimt 01 uw raport and thay ara opan lor public scrutiny at. (E) ASSURANCES (Rafarto Inatfuctfon Q I a Mure tha Secretary of thaTraaaury that tha non-discrimina­ tion and other statutory requirements listed in Part E of tha instructions accompanying this raport wW be complied with by this recipient government with respect to the entitlement «ĵ jnds reportad hereon. ^ ' • -- 4 Signature of Chief ®tecutivi Officer V , . • .t - ' !*• --iTit-fc r t 4 •*." i ' . '"1 r ' >i "*> Name & Title--Pteaaa Print Data _(Published June 5,1974) feu | k luj u tun Meet First Federal's wMr. Moneymaker 99 HE'LL MAKE *355°° FOR EVERY »1,000°° YOU HAVE INVESTED - IN ONLY 4 SHORT YEARS! THESE TOP EARNINGS ARE AVAILABLE THROUGH A 4 YEAR "5,000" MINIMUM BALANCE CERTIFICATE OF DEPOSIT. MANY OTHER TOP EARNING SAVINGS PLANS TO CHOOSE FROM. COMPARE THIS WITH THE RETURN ON YOUR OTHER INVESTMENTS, THEN COME SEE US. (OUAt MOUSING UNDID 1 EAST CRYSTAL LAKE AVE. ^CRYSTAL LAKE, ILL 60014 •15-459-1400 SAVIN ASSOCIATION OF CRYSTAL LAKE ALGONQUIN BRANCH 1309 DUNDEE ROAD ALGONQUIN, ILL (0102 312/658-8622 Some Retirement income Exempt From Income Tax By Clifford T. Fay, Jr., president of the Illinois CPA society (Second of three articles on how to stretch retirement dollars) Income taxes do not aid when you come home from the retirement dinner with that gold watch. But some income received by those in retirement is tax exempt. In addition there . are some property tax concessions and other credits or special exemptions. As a means of helping senior citizens who must cope with increased living costs despite fixed incomes, the American Institute of Certified Public Accountants detailed a panel of CPAs to outline broadly what special benefits are available to the elderly. Here's what they report: Tax exempt income includes Social Security benefits, Railroad Retirement act pensions, a portion of receipts from annuities or insurance converted to annuities, life insurance proceeds, and many veterans' benefits. If you and your employer Contributed to a pen? ion or annuity plan, the benefits you receive may be tax-free "p to the point where you have got back what you yourself paid into the plan. If you have difficulty determining how much you paid in, ask the distributor of the benefits - the bank, insurance company or whoever administers the program. They will have the information. When talking with them, you might also arrange fen- any taxes owed on payments to you to be deducted from the benefits before you receive them, thus relieving you of the trouble of having to pay estimated taxes every three m o n t h s . P e n s i o n administrators are required by law to do this if you ask them. In the case of so-called "Keogh-type" pension plans for t h e s e l f - e m p l o y e d , contributions into the plan are not taxes so taxes must be paid when the benefits are received. However, the low-income allowance and the standard deduction permit a couple filing a joint return to earn up to $4,299 tax free, so a taxable pension would have to pay more than that before any taxes would actually be incurred, assuming no other taxable income. Unfortunately, because of their employment history some elderly persons are not eligible for any Social Security'benefits at all, while others barely qualify for the minimum. To help them, Congress has granted the retirement income credit, which is a tax credit of 15 percent of $1,524 (or of $2,286 for married couples age 65 or over filing joint returns), and the $1,524-2,286 base is reduced by Social Security benefits and in some cases earned income such as wages. At age 72 and over the earned income does not have to be deducted. In computing income taxes, persons 65 or over get an extra $750 exemption, and if they are blind they can take a third exemption. Blindness as used here does not necessarily mean total loss of vision. A person who may not consider himself blind could qualify for the exemption if his eyesight with eyeglasses is below specified levels. A taxpayer whose spouse dies can file a joint income tax return for the year in which death occurs providing the survivor does not remarry before the end of that year. If the survivor remains unmarried and has one or more dependent children who live at home he or she may for two more years be eligible for the joint-return tax rate and after that for the "head of household" rate. If you're nearing 65 and plan to sell your home and not buy another (moving in perhaps, with a son or daughter) it might be wise to wait until your 65th birthday. Any profit on the sale would normally be taxable as a capital gain. But if you're over 65 and have lived in the house for five of the past eight years, you don't have to pay any tax on profit realized on the first $20,00 of the "adjusted" sales price, which is the amount paid by the buyer minus fix-up and selling costs. If the home sells for more than $20,000, a proportion of the capital gain is tax free, the proportion being the ratio between $20,000 and the adjusted sales price. This means, for example, that if the adjusted sales price is $25,000, 20-25 of the profit is tax-free. This option, which applies to co-op or condominium apartments as well as to houses, may be used only once. CAN I ? By Anne Ashley Q. How can I prepare my own good furniture polish? A. By adding two tablespoons of olive oil and one tablespoon of vinegar to a quart of warm water. Keep this solution warm while you are using it. It will wash off dirt and dust and leave a light oil treatment on the wood. Q. How can I remedy some screws which are continually working loose? A. Remove the screws an# dip them into glue, then replace. They will then hold tight. Or, wind a few strands of steel wool around the threads before replacing the screws. ... Q. How can I remove fruit stains from table linens? A. Moisten the spot with some clear glycerin, then launder in the usual manner. Q. How can I speed up the drying of my nylon stockings? A. Try blowing through them as you would a balloon, and drying them with a towel. Q. How can I make a good glue for chinaware or glassware? A. By melting some powdered alum in a spoon, applying this quickly to the broken edges, pressing them together, and allowing to dry completely before using. This mend will withstand hot water. Q. How can I perform an inconspicuous mending job on some sheer curtains? A. Try applying a bit of colorless nailpolish and sticking the torn edges together with your fingers. This mend will be almost invisible. Q. How can I remedy a small rug that has lost its sizing? A. Try a couple of coats of shellac on the underside of the rug, and see how much this helps. Q. How can I remove strong odors, such as onion, from my kitchen chopping board? A. By rubbing over it with a damp paper towel filled with baking soda. Q. What is a quick and easy Vavjto repair a hole in a window or door screen? A. Simply by covering the hole with mosquito netting, then covering this with clear shellac. This makes a surprisingly substantial repair. Q. How can I make candles last longer and prevent excessive dripping? A. By covering them with a thin coat of white shellac. Or, by chilling the candles before using them for about twelve hours. They burn more evenly and will not drip. Q. How can I minimize scratches on stainless steel? A. By rubbing the steel with some baby oil. Q. How can I remove dark streaks and non-greasy smudges from pastel-colored alls? A. You'll be surprised what n ordinary art gum eraser will do. Q- How can I add more "burning life" to candles? A. Candles will burn quite a bit longer if they are given a coat of shellac which tends to retain the molten wax around the wick, instead of its running down the side of the candle. Q. How can I make candies from the rinds of lemons, oranges and grapefruit? A. Boil these rinds two or three times until the water is clear, then boil them again with sugar added to taste, and until the rinds are soft and sweet. Q. How can I remove white stains on my asphalt tile caused by spilled alcohol? A. These stains can usually be removed by rubbing with a bit of baby oil or olive oil. SAVE.. .WHERE SA VING PA YS! Established 1952as Crystal Lake Savings and Loan Association JACKSON ASPHALT R PAVING PARKING LOTS - DRIVEWAYS SEALING - REPAIRS CALL ED JACKSON 1-338-4739 If you use it and later decide to buy another home, and again make a profit when you sell, any capital gain then will be fully taxable. If you do move in with a son or daughter - or if you live apart but your son or daughter contributes more than half of your support - he or she can claim you as an exemption on his or her income tax return, even though you still claim yourself on your own tax return, providing that your taxable income is under $750. The unmarried child who provides more than half of your support might also be able to claim "head of household" status, which carries a lower tax rate than filing as "single". Many states give tax breaks to older citizens, most commonly in the form of property tax concessions but sometimes as special exemptions, deductions or credits on state income taxes. To find out what benefits may be available in your state write the state tax department. SAM LAMONT, HI. Graduate - On June 9 at 3 p.m., Sam Lam'ont, III, will be awarded a Bachelor of Science degree in Sociology from the University of Oregon^ at Eugene, Oregon. He will leave June 14 for Alaska, where he will remain for a year. The young graduate is the son of Mrs. Sam Lamont,Sr., of 7107 Wainwright, Wonder Lake, and the late Mr. Lamont. spurgeons Atlas. Wooly Fiberglas Draperies. 6 Colors. 4 Sizes. And 20% off! Reg. 6.79 48x63 fit Reg. 7.79 48x84 Reg. 17.79 96x84 Reg. 27.99 144x84 543 6m 1423 2239 THISWEEKONLY Plan a sensational new look for your home that's as easy to care for as it is pretty! Owens-Corning Fiberglas® draperies -- our best sellers in a wooly textured solid you just wash and hang up -- no ironing ever! In white, cham­ pagne, gold, green, blue or celery. From a window to a room -- add up savings! ® Trademark of Owens-Corning Fiberelas® Corporation HOURS:' Mon.-Frf. 8:30-8:30 Saturday 8:30-6:00 Sunday 10:00-5:00 189 1656 9 MAftV CUftlOMia 4400 W. Rte. 120 ,Market Place Shopping Center