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--- - • Wflfn ?t,.i Here Rnd There In Business (rn#-. , 4I Top Salesman Promoted By Bank | Reat Estate Fads | Recent promotions were made at McHenrj State bank, including Philip Oeffling left, who was named assistant v ice- president; Keith Leathers, rigni. appointed assisia.il ' .uan officer in the Installmen Loan department; and Joanne C. Eppers, named personnel officer Oeffling a native of McHenry, is a graduate of Marian Central hi^li school and attended Northern Illinois university. He ha* been wiii.lhe bank since 1970, serving as a loan officer in the Installment Loan department. Leathers, who was boin ir. Leroy, 111 started with the bank in 197i». He is a graduate of Eureka college. Ms. Eppers has been with the k.i.k sii.ee '974 A graduate of Western Illinois university, she is from DotaUir, 111. Martinez Officer In Safety-Kleer Leonard F. Martinez. Jr., has been named controller- assistant secretary at Safety- Kleen Corp. , Elgin Martinez joined the company in January, 1975, as assistant controller For four years prior to that, he F i r s t N a t i o n a l was corporate accounting manager for the Echlin Ma. a fa' • i:ig Mart it tv. hi..- a master's degree taxation 'rom PnPn<>' iriv itsit v -,nv; ti B degree in ac „-ou-".> g tio. Northern Illinois umversi A ccrtilitd public ... •ountan. he is a mc.m- of the American InM. u'e .i c'ertifieti Ftibi.c Accountants and the Illinois CPa »o< iet_\ Martinez a;.J wilt. Marv Ann an • then tnr-et- children reside in Mchenry < By Y\onne Beer, Executive Office, NIcHenrv Count) Board of Realtors;. This is the tune of >ear when taxpayers start reviewing their expei^es to reduce their income tax hue April 15. But if you're a home owner, you only have to teach as ;high as roof over your head to provide what is for many people the only major investment they can benefit from at tax time Realtors were in­ strumental in 1920 in con­ vincing the govfrrsr.vnt to allow interest paid on real esta'e mortgages to be deductible from in ome for tax purposes. In 1952, realtors also helped pass legislation that allows home sellers to defer capital gains taxes on the sale of their homes if another home of equal or greater value is purchased The latest revision to this provision extends up to two years the time sellers have to bu> or build a new home after their *ale. in the eat ly iy5C's. realtors helped pass the real estate tax deduction Also fix-up costs and broker's com missions were mode deductible from the sale price when computing cap tal gains taxes During the late 1950s realtors achieved passant of a tax deduction tor moving costs when related to job transfer. Likewise, realtors promoted expansion ot relief i>) the t taeriy in home saies Beginning in 1964. those 65 and over, undei certain c 1 r e u 11 s t a it c e s. were permit tea ,0 exe'^de a portion ot the gain "ealized V 't ney sold the- <;.»ith-s j his iinee-tii-a ate ime exclusion v\a» increased '0 a ma.ximun. >f Siuw.iXM) in 197ti. ana the qualifying agt was .wereri to 55. The 5 x i • um amount w as "creased again to $125,000 si year With a long-'erm irortgage. interest is nearly i e total amount of ihe monthly payment in the first few years. Therefore, the greatest interest deduction comes in the early years of owning a home. With the deduction, as with the amourt paid in property taxes, your adjusted gross income is reduced. Certain tax credits can be gained through home ownership. A maximum tax credit of 15 percent of the first $2,000 of the cost of installing insulation, caulking or other approved energy saving devices to . our home is allowed. This law also encourages the purchase and installation of renewable energy source equipment such as solar healing and cooling equipment. A credit of 40 pereer. ' of the cost of such equipment, tc a maximum of $4,000 is allowed for these impi ovements Some casualty losses to a home due to hurricanes^ floods, or storms also can be deducted Irom adjusted gross income. If the i.ome is being used as rental property, other deductions such as depreciation and maintenance costs can be taken Realtors supported the easing of the capital cost recovery last year to estatj.ish 15 years as the shoi test useful life now allowed Likewise, if vou operate your business out of your home, the expense of maintaining that portion of the home may be deductible irom the income your business earns These after-tax savings for hor cownership mean p using may outdistance alternatee mvest-ner's For utxpa>ers in hign tax bracke's. these .inductions and credits based on home ownership become even more important. Record Earnings hor Bank The First National bank of McHenry reports record earnings of more '.ha;; $246,000 tor the year jusi. ended, a gain of 39.(1 pet t en' over 1980 resuits T'"i ~ represents pti snare ea nings of $3 68 compared with $2.63 in 19tto Return on aveiage assets increased to .99 percen higher than any previous year since the bank s foun­ ding in 1969 Return on beginning eque v stood ^ )"< percent. The record perto mance is due to gams in ne- interest income whicn resulted from an increase in earning assets. Also con tributing to the gains wert the continuing close control of non-interest expense. In spite of continued pressure from alternative investment vehicles sue; as money market funds . no mounting competition, the bank enjoyed a healthy 10 3 percent increase in total assets during 1981 This growth provides the bank the opportunity to inciease its volume of loans, so vital to the McHenry area The bank declared a total of $2.50 per share cash dividend during 1981, a 38 9 percent increase over th* cash dividend declared in 1980 Recognizing the need to oroaden the bank's customer base. First National over Ihe past several years has in troduced a number of products and services both financial and non-financial in nature. Among thesi services are plates and renewal stickers for both automobiles and motor Trailer plai •h.b < vcies. and B k The .SijUirfei • . j-.is' 1. ' .ui me.m.ers m •- av 1 -.s of >50 V the bank < • . "ved *lu year th.r bank vf»l< omeci the prospect 01 1 o i \ t .pt-n m. • Kel con ditions. ccnfiuo ii 'v-ttf ' meet • I; .- bank's foui bask ^oais i i .aintaii i ing t t ' ing shareholders e«> 1 t i ty a .1 re'urn on assets ± iv.d .ai i imga capiu i pt'S'l iuii a ,e\ei hizhet ' i .ui peer oanks; 3. increasing ear- 01 ,gs pet share, and 4. matntenai.ee of dividends. The b; nk is served bv eight officer- Ronald L G.aves, president Will iam .j Busse, execu'i .e vice- pi (- idenl (rueii lei O. Scneel , ass!i i ia;:t vice- pi -si dent; \eida i) . tUvnisky or. J jssisiant ashlers Helen -1 Hc-.tdrjciis and \ m ginia H ' r: . Bi-ir ^taneK. loan otticer; anu • la > t11) Slack, auditor T'.r directors are Marian ri Busse. William J Busse, Ronald I. Graves. Oaviti T Kent, M J. Mar'y J' . Donald C St l i iesprmg Harry 1' Stinespnng III. and Mae M Slinespring. ATTEND CONVENTION Joining some 150 fellow drycleaners and launderers, Don Howard of Mr. Don's Cleaners. McHenry and Mrs Howard met rece.i 'h in tre ' itgm isic .obi in ne ,rf .1 Islands f.»r 'ir «nnual i 1111<ms Sta'e h aoi Kure a > s o t-1 a t i o n convention. During a week of morning work sessions. ISFA 1 iibers discussed the ndustry outlook on a • • 3i levei, waste water re^ia.'^v'ion. government • • c gu I a•:o» s. in \ entory control, consume; ex­ pectations. drapery processing and relevant problems \ I f I I I I I I I •coupon 1 HOW OPEN KRAUS AUTO SERVICE 818 N. FRONT ST. (SO. RTE. 31) We Dc America*, and Foreign Car Repairs 385-9831 MON SAT 8 10 CLOSED SUNDAYS _ V ~ M AO FOR FREE GREASE Ml 10% OFF DRINKS BR NG TH'i A3 TO A r r f TK« HtSTAJRANT IN HOUOAV PAUK A^O KtCtIV' 10 . OH OiNNE* • D«lh.f4i ".GOO lUISOAt iHROOGH SoNOAY OHi. CwLIPCN PER GUE^T CHECK. SINGLE UtSCOUNF ONIY SKIING! Two for $9 Aftei 4 PM Sot. & Sun. EXTENSIVE MENU FEATURING OUR EVER POPULAR STEAK $ft50 All YOU CAN EAT INCLUDES SOUP SALAD ft OfSSERT INC.ESIDt (312)546 5 2)546 82 If. VISIT GREEN APPLE GIFT SHOP FOR EXTRAORDINARY GIFT VALUES ENTERTAINMENT! "SHOWDOWN" WILL BE FEATURED FRIDAYS & SA IURDAYS THRU FEBRUARY i ' \«.K 17 - I'l AINDF ALKK -KIDAV . » KHHL'ARV U, l»82 Nurses ' Week Observed March 7-13 Saying tuat "the nursint. profes^ion continues to cro\* to meet our .iicrEMsiinglv complex health <_«..<> n>*ed^ Governor -lames K Thon.ps( a n£.s ufc -u!' prociami* d Marc i i Illinois Curses w :vk rhe :i tiua; "elet>r.; i- hoiiorirse. thp ate's HO registered profess i nurses .s 3pv»..su. c-d n\ hi. Illinois >'.rses' uSsociuMn:.' I-^l.ig .11. ! itriiit "Niii 'si Ival: h '•: . ; .a, .1 t , i .u s . ' i o n a I s d i s t r i c t nurses' associauons .a thestMt\^ill conduc pt ^a; activities emphas./i g profession's important .fit in pi iding esse i j ' t r-i. u i.... care services a:.»i ;:i promoting the heal'1 'and welfare of ail c:l . . • '1 nis sear's Nu -vs week tiieine reflects the profession's long standing toiiimumeni to hign quality ealth which meets .uii..an needs. Through 'heir »ies ..mai organization, :/iv i.NA. lmnois nurses work •ygether.io prom.^ie passage 4 l: too neait . 'i care .. si trio- advance 'he i .u* . c prolession and 1 igl'. standards of education' nd ictice 1 l , t ! ' ks "te tvvvi.ty- third conserutive \ear that I.\.t nas spo.isured Illinois .\UI.-is v. ot the vvorid on time; so ^ \ b >u t t he lit S Ul SI pro' STAN VYCITAL Stan V'ycital of McHenry was recently honored when lie was made recipient ol the ninth annua! Don Bullock Sr Memorial award for tup iop marint distributor salesman. Presentation was made at the lnieriiauona! Marine Trades Exhibit and Conference held at McCorinick Place, i hi^ag . Later, he was presented with an engraved r taich at annual Barclay dinner held at the Chicago Yachi ciub V'ycital joined hober! Barclay. Inc., wholesalers of heating a,id cooking equipment, in 1957 as a sales representative in northt n Illinois. He became part of the newly cslablisneo dixision in 1963 V'ycital and his wife, Ruth, have two >or> Ronald of Petersburg, 111., and Rick of McHenry. RIDING ( Ol RSE McHenry County college is ..Itering a course in lv,r sehack ridn.g at the K<<: al Garden Riding academy .u McHenry for the firs' timr Through professional u struct ion, students can learn to ride properly or improve their riding ability. Tne course also includes proper care and grooming ol 'a- horse and proper car*, it iack Lessons are in an ii. d<xir arena Kegistrat:<» can be made at the collegt from H a.m to 4 p m Mondays through Knda\s and 6 to H.3U p ni. Monda>« through Thursdays A it PR i r KJ. wt ubftOP & Pfi 344-3388 i ( >t h N f U r '!it)l< lAKKt 1 ft AC t PHOIQ FORUMJNC. S K I 1 i;\ \u Hf-NHY ALEXANDER LUMBER CO. ' BEST Oh EVERYTHING FOR THE BU1LDER FEATURING COMPLETE LINES OF. •OLYMPIC STAIN •BkAMMER CAf, Ncl S •ANDERSEN WINDOWS •PRE-HUNG DOORS •NORD SPINDLES /ARMSTRONG CEILING SYSTEMS •LINCOLN WINDOWS •GAF SHINGLEC •BUILDERS HARDWARE •PREFIN1SHED PANELING •STANLEY GARAGE DOCR OPERATORS Phone 385-1424 909 N. FROM! ST. MchfcNkY APPfcARING AT THE Mi The McHenry Plainriealer Newspaper Available the t-oilov*:ng Locations: *vVhlft HfcN •- •...••'si •M rt-'vn t.. . *bh i it . )KS •buLGfcRi 'J'< ' >10Rc •BtN FRANKhN •ObCO DRUGS « JEWFl •HORN b BY'S •HERMtb & CO. •L'OUOK MAR I * V. «.K * j & K >TeiRt •McHtNRr mG P'lAt 'hOO J M M R ' -J is. GmS AKEV'EW NNvSiDE f COD - h .-Ar/S GROCERY Mil rtfc ^TORt KtD & iRENfc v TAP •SUNRISE GROCERY •S ! fclH Y I AP -McCULlO/V* LAKE GROC -NORTHWEST IKAIN - BITS % PIECES •REVCO DkUG •ISLAND HOODS CONVtNlfcM hOOD TOUNIR^ v.UfBv^MkD have 17 reasons why H&R Block should prepare your taxes." 00 J0HNSBUR6 COMMUNITY CLUB FOR THE BENEFIT OF sr. JOHN'S HflllE ( SCHOOl ASSOC. SATURDAY, FEB. 13th 8;00 to 1:00 PM FREE HORS D'OEUVRES Per Person (Tickets at Boor) liJI MtAb'ON ff 4 if BfjcK n-dkes an error, vwe'li f»av the pe tally Ai-O the interest. ... • . . lutrt wO^fl- .Cti o.. • for . io'-c •, y'1 ' . . ' j j:o-t 'onai . -\\ • , .. ,\ti. ..• ' Oui -voik Ano vve M O BLOCK C© TH? fv OWL I AX PEOPLE 17 reasons One smart decision. HARVAR!) Phone 9*3 84 iG 0PFN 9 b WfU HOfcT? 9 b jaT H i «* nv,S BT APPOlNTMtNT ,:os s cm. MARLN CO , ('hone it>8 6363 OPLit JsSA'Ss AfPOlN'Mi NTS AN TT' ME SlO'.rtHm McHtflHY P"icn« 385 8630 OPln ntiRJAr • 9 i *PfOiNTMtNIS AVAILABLE WtHAVfMOVEO 0 BiTim TOO 64iM t,.e...,Au WuOO STOCK Phw 3JI 33M OPEN <*£t*0A*S <» 8 SAf 9i APPCHTMCHTS AVAliABIC m uAVE CPEItO A «tE*Gf( Ct ' ri B f ( rF«r '0l WONL-LK LAKt 7^08 Hj r-cotk 653 7731 OP El WON ' 'Jfv 'VJKC. rBl I0-1C3 SAT 9, kf Pti N MfXTS AVAiLAltf V a ' . Q v v » c " » p t e d 3 ! r c i ? ) * i c i ' i o n REMEMBER THIS NAME WILLIAM E. JOHNSTON CANDIDATE FOR McHENRY COUNTY ̂ TREASURER 28 YEARS BANKING, FINANCIAL AND INVESTMENT EXPERIENCE VOTE MARCH 16.1982 (REPUBLICAN PRIMARY ELECTION) COMMIT FLfc TO ELEX1 WILL. AM t. JOHNSTON McHENH Y COUNT V TREASURER, JOSfePH DeMAY, FINANCE CHAIRMAN " William E Jonnston who b | i\ senily has become a candicidte tor your vote in rl ultimately succeed the retiring Audrey v'«. 1 County Treasurer He w"-serve you mu thi offiC" 28 yebi s o1 bankinf-1 mv is a graduate of the Umv: ^sity ot Mlmr.-s ar ' v'c ions! Nuance company and the hrsL Siatt. uu he advanced to trie uosu-on of Exuc. jL.c . years as a direcLor l»liui (; t.dk" eo.- these credentials i ie is ^, •; ; liU .... ' .u •. he seeks. He will ue iut" i., -iuvi •: at the polls ' , l. c.' i<~;-r Ul r idl\a '.i nr;nn- nq Dr'mary eiectioi ro 'j. nhdCh as v'Our McF,^ "/ .t, well Ly uikii.g into the -r'ont exper 'e-ice Johnston Vr~ hi • y vv.tn a n i '"- n - r harv^ro At trie oa. ̂ , -i dm il 0! id o6i VFid SE f'i . Othtji ilitt ' w.jto vViL r• : n ' y duL t o Oi lit it office a' •«.! •' . ippui L (ONl* 36 MORt DAfS Iift.u cctCIION iHiNK ABOUT if) ... , *