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Newspaper Archive of
The Sundance Times
Sundance, Wyoming
Lyft
August 22, 1974     The Sundance Times
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August 22, 1974
 

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~yl~dlCOlm F. Driskiil proudly ays the cake presented him 11 in honor of his 8Oth birth- . Mr. and Mrs. Kay Driskill, eolm,s son and daaghter.in- hosted the reception at their to help ~l~colm celebrate me of the milestones of his life. ..~rCOlmnn of questions and h s on federal tax matters ..Provided by the local office 6"_ rae U. S. Internal Rovenue ~ce and is published as a l~ ~lie service to taxpayers. The ~umn answers questions most "qtlently asked by taxpayers. i). I hired a baby sitter to ~e care of my child while I out looking for a job. Is s expense deductible? ~." Yes. A person may deduct ~2ae in the actual search for ~1 employment as well as ~.~e inCmTed while working. ~r. details on the limitations ~licable to the child care de- "-tion, see IRS Publication 503, ~hild Care and Disabled De- Cadent Care." It's available ".e fTomyonr IRS office. 1o ~'. I paid$s0 to attend a dinner ~ funds for a political ean- .~e. Is the entire cost of the ket deductible or do I have to t~Ycract the value of the meal .errive at my deduction. a. The e~tire cost of the ticket The reception table featured a ned bandana tablecloth and the centerpiece was the birthday cake topped with a brown and gold "cake" cowboy hat. All oth- er appointments were carried out in the western theme. Special guests were Malcolm's sisters Mrs. Rodger (Jessie) Remschel, Spearfish, and Mrs. Ben (Nadine) Wood, Belle Four- che. to the political dinner is eligible for a deduction or credit if the dinner is clearly in the context of a campaign of an eligible candidate and is not primarily a device to crofter private bene- fit hl file form off meals or enter- mimnent to the contributor. Otlmrwise, the contribution in- eludes only the excess of the amount paid over the fair mar- ket value of the meal and enter- tainment. Qualified political contributions may be deducted up to $50, ($100 if married filing jointly) or one may be taken as a credit against your tax up to $12.50 ($25 if married filing jointly). Q. How do you report divi- dends received on mutual fund shares? A. It all depends on the type of dividend yon' receive from the ~md. Ordinary dividends or taxable dividends are the most common type and any dividends you receive can be assumed to be an, ordinary divi- cbmd unless the fund indicates otherwise. Except for the first $100 of such dividends which generally may be excluded from income, ordinary dividends are fidly taxable. Some funds distribute capital gain dividends. These are treat- ed as long term capital gains and are taxed at a more favor- able rate that ordinary dividends. However, these capital gain divi- dends do not qualify for the S100 dividend exclusion. A fund distribution not out of earnings and profits is not taxed. It is a return of your investment, or capital, in stock of the mu- tual fund. A mutual fund will notify yo~ on Form 1099DIV or by written notice as to the amount of gross dividends, capi- tal gain dividends, return of cap- ital, etc., that you must report on your income tax return. For more details, see IRS Publication 564, "Tax Informa- tion on Mutual Fund Distribu tions." It's available free from your IRS office. Q. Can condominium owners deduct amoants paid for real estate taxes and mortgage in- terests ?. A. Yes. I,f you itemize de- ductions on Schedule A (Form 1040), such payments are de- ductible. Sundance, Wyo. Aug. 22, 1974 NOTICE OF FINAL SETTLEMENT OF ESTATE All creditors and others inter- ested in the estate of Richard A. Bush, deceased, take notice that the undersigned Executrix of said estate will, on or before the 30fh day of August, 1974, file in the office of the Clerk of Court of Crook County, Wyoming, her final account and petition for distribution of "said estate where anyone interested may examine such accotmt and petition and file objectiom thereto in writing on or before the 9th day of Sep- tember, 1974 and if no objections are filed thereto she will make final settlement of said e~tate on the 10th day of September, 1974 or as soon thereaRer as the matter may be heard. Dated at Sundance, Wyoming this 5th day of August, 1974. /s/ Nell W. Bush Executrix Richard J. Macy, Attorney Pub: Aug. 8, 15, 22, 29, 1974 50th Wedding Anniversary Open House {or Mr. ,and Mrs. Jay Durfee Sunday, Sept. $ 2-5 P.M. at Home No Gifts, Please William Levine, switchman in Cheyenne, Wyoming. ,4===~= We can handle it. the Union Pnciflc raikoad people IIIIIIIIIIl| 3 Miles East of Belle Fourche on 212 Ph. 892-2791 Belle Fourche, S. D. Your Massey-Ferguson & Owatonna Dealer