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SECTION 2 - PAGE • - PLAINDEALER - FRIDAY, FEBRUARY 10, 1984 general News McHenry man administrator of CWA work Tax workshop at Johnsburg library As a part of its continuing community service program, the Johnsburg District Library * is sponsoring a workshop on the preparation of individual federal income tax returns. It will be presented by staff members of the IRS and is in­ tended to give general guidance and answer specific questions about the preparation of the 1040, 1040A, and 1040EZ returns as well as the various sup­ plemental schedules. The workshop will be held at the Johnsburg Library Satur­ day, Feb. 18, between the hours of noon and 5 p.m. Five sessions will be presented starting at noon, 1 p.m., 2 p.m., 3 p.m., and 4 p.m. Each session will consist of two or three or more separate presentations dealing with the filling out of the various tax forms. It will not be necessary to attend more than one session as each person will be able to ask questions about forms which have not been covered in the session. During each presen­ tation the forms will be gone over in detail and it will be possible to fill out the return on the spot if desired. If anyone plans to fill out the return at the workshop, be sure to bring W-2's receipts, and all other necessary records. All return forms will be supplied free at the workshop. Because space is limited one must call and register in ad­ vance for the workshop session. Call the library at 344-0077 and register now, or stop in the library at 2404 Johnsburg Road. The hours are 11 a.m. to 9 p.m. Monday, Wednesday and Thursday, 11 a.m. to 6 p.m. Tuesday and Friday and 9 a.m. to 5 p.m. Saturday. The workshop is free and open to all individuals in the area. 50 YEARS AGO (Taken from the files of Feb. 15, 1934). Thomas P. Bolger, McHenry druggist, has been appointed administrator of the CWA work in McHenry County, receiving the notice of his appointment last week from Howard O. Hunter, acting CWA ad­ ministrator for Illinois. The new remaining days of the month of February to doing their "good turn" by assisting the needy as proposed by President Roosevelt in his radio message to the Scouts of the country on the twenty-fourth anniversary of the Scout organization. 40 YEARS (Taken wice administrator will have full charge of CWA work in the county under the new plan which previously was handled by a committee consisting of J. T. O'Brien of Harvard, chairman; Fred Walters of Woodstock; Thomas P. Bolger of McHenry; the Rev. 0. J. Flugum of Crystal Lake and William Covall of Marengo. The Boy Scouts of the McHenry troop are devoting the AGO files of Feb. Memorial services for Rollo Chamberlin, who lost his life when one of our ships was destroyed more than a year ago, will be held in the Community Methodist church. Louise S. Wahl, Orchard Beach, Lavern Soderland, Island Lake, and Raymond Sandin, Rt. 2, McHenry, were recent donors of blood at the Red Cross Blood Donor service in Chicago. The Blood Donor service is one of the Red Cross activities supported by the American Red Cross War Fund. The George Kauss family moved from Chicago to an apartment in the Town House. Vernon Kramer has been advanced to the rank of chief petty officer. He is now serving Professionally Serving McHenry County NITTANY HEARING AID CENTER "Next to the Post Office- Letizia Bldg. in Wonder Lake" 7432 Hancock Drive - Wonder Lake CALL (815) 728-1009 •Free hearing Test In-home or At Our Office •Senior Citizens Discounts •Battery Clubs •Free Loaners *hours M-S 9-1, Other by Appt. outside of the United States. Thomas F. Bolger has been made a staff sergeant at Camp Edwards, Mass. 25 YEARS AGO (Taken from the files of February 12, 1959). Th entire out-of-doors took on the appearance of a fairyland as a bright sun shone on the laden branches and wires, but the beautiful scene took place only after almost 48 hours of sleet and snow which played havoc with power and telephone lines and poles and left sections of the area without phone service and electric power. In general, the electric power shut-off was not as great as trouble with telephone lines. Most of the electric failure in the com­ munity was caused by tran­ smission line trouble between Algonquin and McHenry. Karen Thompson, 16-year-old daughter of Mr. and Mrs. Vernon Thompson, was one of 16 Girl Scouts selected to represent Sybaquay Council at the Senior Girl Scout round-up to be held next July at Colorado Springs, Colo. The young lady, chosen from an original field of 24, had a further honor bestowed on her by being named leader of one of the two patrols, each including eight girls from a wide area. 10 YEARS AGO (Taken from the files of February 8, 1974). Polling almost half the votes cast in the last Tuesday's aldermanic election in the city's fourth ward, Mrs. LaVerne Hromec was swept into office. She succeeds her husband, Frank, who recently i signed. Ron Alberg returned home recently after a year under the Americans Abroad program of American Field Service. With him he brought not only the usual student memories but exciting recollections of the revolution and overthrow of the country's government. During much of the year he lived with the Eduardo Retamol family in San Bernardo. The father in the family is a lieutenant colonel with the police force; and the mother works for the postal service. When McHenry Hospital relocates to the planned Nor­ thern Illinois Medical center on Route 31 and Bull Valley road, its present facilities will be dedicated to serving the unmet needs of this area - such as geriatric, psychiatric, alcoholic and rehabilitative care; health. > information; day care and services for the chronically ill; and enlarged facilites for Mental Health and Family Service. These are goals to which the hospital board is committed. 'FUZZY SKIT' The Y.O.U. (Youth of Unity) and Uniteens are presenting a "Warm Fuzzy Skit" directly following the 11 a.m. service at Unity Church of Crystal Lake Sunday, Feb. 12. Unity Church is a non-denominational Christian Church. It is located at 3 Chalet Drive in Crystal Lake near the intersection of U.S. Rtes. 14 and 31. For additional information, call 455-2479. R.V. SHOW February 10-11-12 Your close-up look at "customized vans," "recreational vehicles" for camping & touring and "motorcycles" too! Don't miss It! This year say YES to i-- |̂)CrgstQlPolntfTlQl _ Open Mon.-Frl. 10 to9, Sat. i0 to 5:30, Sun. 11 to 5 18th mutual FEBRUARY SALE FOX LAKE Saber Quick 91 S. RT. 12, 312/587 2555 '5.00 • Vi HOUR SESSION SUNTANNING WE TAMED THE SUN... ...and made it comfortable! FREE TRIAL CALL 344-2202 UNLIMITED VISITS FOR 30 DAYS... *75 MAX. VISIT -- I NR. VISITS MUST BE 49 HOURS APART GUARANTEED IMMEDIATE RESULTS... MEDICALLY PROVEN. ..SAFER THAN THE SUN! ADVANTACES OVER "COFFIN" TYPE BEDS 1) TWICE AS FAST 2) FOAM MATTRESS...NO HARD PLASTIC 3) USE OF LOCKER ROOM WITH JACUZZI & SAUNA 4) SAME PRICE! McHENRY NAUTILUS •04 MILL ST.-McHENRY CONTROL YOUR PHONE COST with SCROOGE • Economically Priced • Easy "do-it-yourself installation • Private access to long distance calls • Restricts unauthorized long distance calls • Allows all local I emergency numbers to be placed it Adjustable control for length off outgoing ft incoming calls Call and Ask for "SCROOGE" 338-2971 L PLANNING © 1984. BMCA WE KNOW500WAYS TO LESSEN THF TAX BITE. Wm All year your "Uncle" has been taking pieces of your income. That's why now you need us. We've compiled over 500 deductions, credits and exclusions allowed by the IRS to get you all the deductions you have coming. Wfe've got same-day service to complete your 1040A or 1040EZ with fees as low as $10 So call for an appointment or stop in for the Beneficial® Full-Deductions Checklist. We don't just know taxes, we know money. E9 Beneficial IncomeTax Service® Open evenings and Saturdays by appointment ..J . CRYSTAL LAKE- 372 Virginia Avenue 455-1410 'Complete written Guarantee available from your Tax Preparer (33rd of a series) by Kenneth J. (had wick, C.P.A. SAVE $1,500 PER YEAR (Reduce Your FICA Tax) If you own a business as a proprietor or a partner, you may want to consider incorporating. Your FICA taxes (social security contributions on self-employment income) for 1984 will be 11.3% of net self-employment income up to $37,800. A max­ imum contribution for a proprietor or partner to FICA will be $4,271. It's possible to reduce the total contribution to FICA by incorporating and taking a salary of less than $37,800. You must be able to justify your lower salary. An incorporated business which files a Sub­ chapter S election pays no corporate income tax. The shareholders of a "Sub S" corporation are tax­ ed directly on their individual income tax return for all corporate profits. The shareholder pays income tax on wages from the corporation, as well as on profits in excess of those wages. Those profits in ex­ cess of wages, however, are not subject to self- employment taxes. Suppose your company will have a net profit of $40,000 in 1984. If you take $20,000 as wages and the additional $20,000 as dividends, your payroll taxes will be computed on only the $20,000 of wages. The employer corporation has to match the employee FICA withholdings for a total in 1984 of l3.7<"o. In this example, the total FICA contribution would be $2,740 for net savings of $1,531 ($4,271 minus $2,740). If the company has more than one owner this savings would be multiplied accordingly. With the increase in self-employment taxes schedul­ ed for 1985 and later years the savings will be even greater. The savings in this example will be reduced somewhat by the requirement to pay "unemploy­ ment taxes" on your wages, as well as by the addi­ tional cost to operate as a corporation. Seek professional assistance in determining if your company can benefit by becoming a Sub-Chapter S corporation. Kenneth, J. Chadwick, C.P.A. 106 Cass SI., Woodslot'k 815/338-2063 Servicing the McHenry (ouniy urea for eleven years, h ngaged in the practice of accounting, auditing, preparation of personal and business tax returns and management advisory services.