~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|
3½ Miles East of Belle Fourche on 212
Ph. 892-2791 Belle Fourche, S. D.
Your Massey-Ferguson & Owatonna Dealer
