Newspaper Archive of
The Sundance Times
Sundance, Wyoming
February 14, 1957     The Sundance Times
PAGE 15     (15 of 16 available)        PREVIOUS     NEXT      Full Size Image
PAGE 15     (15 of 16 available)        PREVIOUS     NEXT      Full Size Image
February 14, 1957

Newspaper Archive of The Sundance Times produced by SmallTownPapers, Inc.
Website © 2021. All content copyrighted. Copyright Information.     Terms Of Use.     Request Content Removal.

lent ways. This we were able to agencies. Czech Communists were THE SUNDANCE TIMES TAX FACTS No. 3- i observe for ourselves last Septem- replacing Russian Communists; Sundance, Wyo. Feb. 14, 1957 TaX ber while spending a few days in and non-Communists among the I Hints" for Car and Home Owners Prague, the capital of Czechoslo- staff of 80 only 3 are Communists, since those conversations has done vakia, whereas a year ago the ratio was to their hopes and expectations f (This is one of a series of articles on lederal income taz We learned there of conditions 2 to 1 Reds. cannot yet be determined. There ~ltng. These articles are based on tnlormatton provided b~l far more hopeful than had been On January 1, 1957, the hated is cause to think, however, that the American Institute of Accountants, and the -Wyoming anticipated. Political observers in and feared secret police is sched- the kind of quiet change effected /Society of Certified PubltcAccountants in cooperation with Vienna had told us that conditions uled to be downgraded. The people in Prague, though less dramatic the InternaIRevenue Service.) in the Czech capital were deplor- of Czechoslovakia were promised, than that being attempted around home and you car may be the source of deductions that will able, that the people were broken as late as last summer, beginning Budapest, may be more solid and r your federal income tax. It is important to check all possible de- in spirit, and that the city itself on that date the police had to lodge may longer endure. ns because of the savings involved. If you are in the lowest bracket ,t--'each $5 you can find in deductions may mean a dollar in your was dead -- much like East Berlin. formal charges against any suspect ~ - For persons with higher- Such, however, was not the case. within 24 hours or release him. es the possible savings are event, you are required to submit Prague reminded us more of Heretofore, a person seized forRegular Business Meeting greater, information concerning any a e of West Berlin than East Berlin. The political or security reasons could Held by Alva 4.,11 Club interest on a mortgage is your home at a profit, whether or streets were crowded with people be imprisoned without charge. He The Alva Wigglers 4-H club held lible on your federal tax re- not the gain is taxable, who were noticeably better dressed might languish in prison for its second meeting of 1957 last In most cases, payments to When you buy a home you gen- I include beth interest and erally agree with the previous than those seen in Russia. Con- months -- even years -- withoutweek at the Allen Rauth home with Pal; as the mortgage is re- owner on a schedule of adjustments sumer goods superior in both his case being processed or with- President Joe French presiding. the interest is less and a for taxes, insurance, water rates quantity and quality filled shop out knowing for what crime he Following a short business meet- ing, refreshments were served and 3 applied to the prln- and similar items. However, you windows. The man in the street,was charged, la ed Only the interest is deduc- and the previous owner can deduct moreover, did not appear crushed games were p y . It may be too early to determine the case of your residence, this real estate tax in proportion to in spirit. the number of days of the property A Czech business man, whom wehow serious the prospects of change ~ ........ = = = EItate Taxes . tax year that each of you held the really are, or whether the present ] __ m~...~^ ~A--aA, aetlmes the monthly payment property--whether or not you have shall call Otto, assured us that the commitments will be honored at Fur ~uua.~~uuA laclud{s an additional amount agreed to apportion the tax. You atmosphere had changed greatly all by the Commies, who, by the ~ ~mogea hams I the bank holds for the Pal~ are considered to have paid your within the year. "Even six months way, have established something of | and Bacon of taxes, insurance, etc. share of the tax when you bought ago," he said as we conversed late a record for broken promises. But [ Bring your ,1logs to ZBe the bank is acting as your the home. This applies to any real one evening, "I might have beenthose persons we talked to in | BRODSKY .~ealm payingestatetaXtaxesOnpaidYOUrbyprOP-the duringeState 1956.you may have purchased imprisoned for talking with an Prague last September believed | w-~ ~. mr you are deductible as if American. But now conditionsthat the change was real and that | t'acKlng tso. Ld paid them directly. , ] Deductible Auto Expenses are different." }ur home had been damaged From the time you buy an auto- How different those conditions Czechoslovakia was on the road | For Processing , storm or flood, your loss not mobile you begin to have other ex- are turned out to be the point of back; ..... | Spearfish, S. D. d by insurance is deductible, i penses which are deductible on the discussion between us. Not what me violence in Hungary 4-"~ -- : = : - = = ~ ~ nount of the loss is calculated your federal income tax return. ~Paring the fair market value Any state or local sales tax you only could Czechoslovakians now Property Just before and Just paid on the car purchase is deduc- be seen in the company of persons ue casualty. This loss, or the tible. So is the cost of your license from the West, but beginning on f the property, whichever is plates, state inspection fees and October 1st they themselves were W is reduced by any insurance interest on an auto loan. to be permitted to travel to most ry to determine the loss for A common deduction in manycountries of Western Europe. (Not Lrposes. taxpayers' returns is for state gas- of Moorcroft ] ~n large amounts are in- oline tax. It is best to keep a rec- since the Communists seized the it may be wise to have an ord of your gasoline purchases dur- Prague government in the infam- appraisal made immediately ing the year, but if you don't have ous coup of 1948 had Czechs been representing me casualty, such a record you can still make permitted to go West.) And there a reasonable estimate, was even some talk that by the ~nls C You Sell a Home If you had a collision, you may Motor o. be able to deduct for the damage summer of 1957 tours to the U. S. to your own car not covered by in- would be resumed. are not allowed to deduct You may suffer on the sale Personal residence. How- surance. Although driving may Also, political prisoners were may be required to pay have been faulty, you are entitled gradually and inconspicuously be- gain resulting from selling to the deduction if the accident was ing released. Otto ticked off the at a profit, not due to your negligence. 'ever, you buy and occupy Such a loss, or loss from fire, names of at least a dozen of his home within one year, be- theft or other accidents is deter- own cronies who had suddenly dis- after, the gainful sale of mined in the manner described appeared in 1948, but who, one by rmher home, you are not above in connection with damage one, were now reappearing on the ae gain at the time of the to a house. Lernatively you can start The instruction book which comes streets of Prague. The Commu- tlon of a'homo within a with your tax forms gives further nist government, still nominally in ad occupy it within 18 information. Help is also available control there, made no formal pro- after the sale of your old by telephone or at offices of the In- nouncement of political amnesty; the new home costs as ternal Revenue Service. The Rev- to do so would be regarded as a You received for your old enue Service urges you to consult loss of face. But the release of th allowances for certain a properly qualified advisor if ou p .... Y prisoners was quietly proceeding expenses), you are not decide to seek outside help. the gain. If your new home nonetheless. s s, the gain is taxable to Next Articles Claim All Exemp. Another significant change de- at of the differences. In any tigris for Yourself and Dependems, scribed by Otto was among impor- ~ ~ tant policy making personnel in t~ *. ~1 satellite areas, though in less rio- both government and private i ssia VIAKE THAT SPARE~ ... then make yourselL '1 a memorable drink..,, Ask lot DOt.~ fifteenth in a series of accounts of conditions Iron Curtain by Loraine Czechoslovakia Policy toward the satel- has been more toward their own peg- Only have the East Euro- oppressed, they have Countries stripped of d a~ produc- of the Kremlin. of oppresive Policies and exploitive Practices which has ere- them the deep present- bitter hatreds which their Soviet con- than heal those Passing of time has reconcile control over with the seething the people has problem facing leaders in Moscow end of World War ten years ago. The have dramatiz- ure to solve it. bloodshed in Budapest dahe, however, is to ob- ct that the Reds were grip on other and tell the world you know great straight Kentucky 6 yeors old OLD HERMITAGE COMPANY. LOUISVILLE. KY.. DISTRIBUTED BY NATIONAL DIST. PRODUCTS CORPORATION, KENTUCKY STRAIGHT BOURBON WHISKEY, 86 PROOF Gillette, Wyo. NEW AND USED CARS AND TRUCKS I.can make you a top notch deal on either a new or a used car or truck. GUARANTEED DELIVERY IN 30 DAYS ON ANY NEW FORD DE- SIRED. Phone 4434 or Write Box 204 Moorcroft. ,tockmen s Me:or @ Gillette, Wyo. SEE TIllS FiNE LIllE C F Late M del i[Jse, I C ars 1956 h ERCURY 2 .DO()R Radio, heater, overdrive, 12,000 actual miles $2125 FAIRLANE Rad'lo, heater, Fordomatlc, power steering, rear seat speaker, 5 braml new Doable Eagle white sidewall nylons Radio, heater, overdrive, all leather Interior, red, tiptop shape 1953 Radio, heater, overdrive, real clean Power glide, radio, heater, very elean Moorcroft or Gillette, Wyo. )