Indianapolis Times, Indianapolis, Marion County, 1 January 1948 — Page 10

Losses. From Thefts

i ported on Page: 3 of Form 1040. If

* in the proper space on Page 3,

This is the ninth of 10 autheritative, understandable articles in NEA’s annual income tax primer, prepared ‘by NEA’'s recognized authority on income tax probJems in consultation with Bureau of Internal Revenue experts.

Or Storms Allowed "By S. BURTON HEATH «NEA Staff, Writer -

—e

next article are for those who compute their own tax without using

These deductions are to be re-|

ligious, charitable,

you have too many, in any classification; for the space provided, list them on a separate sheet, attach it|

The check list with "this article public purposes. You cannot deduct dues

gave to these organizations, pro- |

either tax table or standard deduc-!vided the total charged

: yy |" In general, you can deduct con=

is not more than 15 per cent of Item 6, Page 1.4

tributions made to non-profit re-| educational, scientific and literary organizations; | |to veterans’ organizations; to socie-| Ities for prevention of cruelty to: = to your return, and show the total| pre animals; to. govern-| | mental organzations for exclusively

paid |

shows most of the organizations to which your contributions are de-ito soctal organizations, even though) ductible. There are others less gen- they have welfare subsidiaries to erally contributed ‘to, and many which ‘gifts are deductible. You local organizations. If you are inicannot charge off gifts to individuals, however needy or-worthy, or : to organizations that devote much You can claim what you actually activity to propaganda or to th-

dotibt about any not mentioned, ask

your collector's office.

‘Sets Rigid Ceiling on Deductions For Gi

‘fluencing elections or - legislations,| {however excellent their aims. { You can deduct interest that you paid for any purpose, business or personal, except to finance purchase | {of tax exempt securities. You can| |deduct interest paid on behalf of | somebody else, if you were lally liable for his debt. Taxes Deductible | When deducting interest on a

person- |

{mortgage or an installment con-! |tract, be sure to exclide any financ-| ing fee or charge, any‘ tax element, and ‘any insurance premiums that] are Jumped ‘into the payments. | Any of the following taxes can be deducted on page 3, provided {you did not claim them as.business expenses: : | | Automobile registration and. driv-| ing licenses. i City fees, licenses, permits, priv-| {ilege taxes. g City or state sales .taxes, Personal property taxes, Poll taxes. " Real estate taxes, - . State “excise - taxes on articles

Look for

FRAMES |. MIRRORS } LAMPS | ART WARES

METAL — WOOD — LEATHER AND PLEXIOLASS REDUCED %3 TO %

FRAMED ANTIQUE GOLD PLATE GLASS MIRRORS REDUCED 3 TO 4

AND HAND PAINTED LAMP REDUCED %; TO 5 -

VASES — BRIC-A-BRAC “HURRICANES — ETC. REDUCED %4 TO %

the “Yellow Tag" showing your savings.’

’

Lyman Bros., Inc.

310 On The Circle

MA. 7437

RE SER

|SAVE Y%-13-Y2 DURING LYMAN BROS. JANUARY

toot transportation fires

TABLE — VANITY — au,

| brought into U. 8. by you for personal use or gifts. |: State gasoline taxes except in |Alabama, California, Florida, Louisilana, Mississippi, Utah, Wyoming, |

_- THE INDIANAPOLIS TIMES _~__

fis to Churches and Charities

deductions and state to whom

Contributions

——— ¢ ~~

attach to this return, v

| AUGUSTA, Ga. (UP)—The awful | nolse from the basement sounded

|a furnace. It was. “=.

{laborer surrounded bys pile of|furnace lived down the

~ i of ned RATA

a THURSDAY, JAN

But in Wrong House * |ruy had Brough tear out the old furnace tor 5 new found: aifolks who

just like someone trying to rip out '

rr ———

-XTHREE SISTER

~ w [Right, Noisy Idea, | |r Pricks and fumace pare, yy, him to the house and told him 4,

street,

Yo. police

Losses from . fir storm,

* casualty,

sumer. are legally deductible,

* “These are the Does’ deductions for Contributions, Interest, Taxes and Casualty Losses, from Page 3 of Form 1040. ~Sales taxes can be deducted only where the law imposes them direct upon tlie con-

A check list elsewhere with this article tells many of the organizations to which your gifts

4 {

\ » ;

| State income taxes. de ened | Unemployment compensation taxes in those Téw states where taey are deducted from workers’ pay, | Not Deductible | . The following taxes are NOT deductible, even though you may have {paid thém out of your own pocket: | | Estate, gift, inheritance, legacy lor succession taxes. Federal cus-| {toms duties, even on articles brought in for your own use. Federal taxes ‘on cigarets and other tobacco prod-| +uets; club dues; gasoline and motor oil; liquor; tickets to circuses, fights, games, movies, theater, or other en(tertainment, including cabaret tax; {telephone and telegraph messages; (bus, * plane, train, etc), Federal income tax. Pishing, hunting and dog licenses! even where the last are turned over intact to the ASPCA. - Stamp taxes lof any’ kind. Water “taxes” and {other use taxes that actually are {charges for utility services. Assess-

(which, However, can be added to your property investment!

sell). You can deduct net losses during 1047 _from- fire, storm, flood, shipwreck, theft, burglary or accldent. / You must be prepared to prove these if asked. Tell briefly what ‘happened, what was lost or destroyed, and how you fixed-its value. If you recovered anything through

gross loss before making your de-

| Hawaii. Most city gasoline taxes. |

ments for financing local improve- | “t iments

to decrease any taxable profit if you}

insurance, substract that from the}.

Contributions Up to a total that does

American Cancer Society. American Red Cross.

Associated Jewish Philanthropies. Boy Scouts. Child care centers or committees. Community Chests. Girl Scouts. Jewish Welfare Board. National Foundation for Infantile paralysis. >, = . National War Fund: Navy Relief Society. Palestine ‘Foundation Fund. Policemen’s /Or Firemen's Benevolent Associations. Salvation Army. 5 Recognized Social Service agencies. bn Travelers’ Aid. UNRRA. United Service Organizations. Voluntary fire departments authorized by state. Volunteers of America, Yourig Men's and Young Women's Christian and Hebrew Associations. Belgian, British, Greek, Polish, . Russia War Relief. French, Norwegian, United Czechoslovak, United Jugoslav, United China, Queen Wil-

t exes 1, Form 1040, you can deduct anything that you gave during 1947 te: |

The charitable, educational, lit-

The charitable (etc.) funds (but

" nized World War II veteran

American Library Association;

~America; Municipal Planning

And also many locat-charitable,

Ohio Life Office.

Check List . |

{Opened by Agent Robert B. Plessinger, recently appointed general agent for the Ohio National Life Insurance Co. has i «i opened offices at © 504 Guaranty Bldg. A graduate of Ohio State Uni- | versity, Mr. Plessinger served in! the Navy during the war and is a member of Phi Kappa Alpha Fraternity, t he! American Legion | : and the Life Unpublic and non-profit private {/derwriters Association, colleges, universities and lower | a pe schools; Harding Memorial; | Monument to Mother

Woodrow Wilson Foundation; of Garfield Found

Birth Control Federation of RICHMOND, N. H. (UP) — A

monument marking the birthplace of President Garfield's mother has been “rediscovered” in an isolated wooden area here. § ; Harlan G. Barrett. found the al-! most forgotten marker a half mile’ off a dirt road. All traces of build-ings—and-paths-in the area had been obliterated. | The granite monument bears {the inscription: “Here was born, Sept. 21, 1801, | Eliza Ballou, wife of Abram Gar-| {fleld; 20th President of

15 per cent of Item 6, page

hemina (Dutch) relief funds, and Friends of Luxembourg.

erary, religious. and scientific funds of recognized fraternal organizations such as Elks, Knights of Columbus, Masons, Moose, Odd Fellows.

not dues) of American Legion, D.AYV., GAR, United Spanish War Veterans, V.F.W, recog-

organizations, and auxiliaries of above. Also thé DAR.

Association; National Municipal League; League for Industrial Democracy; and such scholarship and professional societies as Phi Beta Kappa, Kappes Mu- Epsilon; Delta 8igma Chi, Phi Kappa Delta, etc.

educational - and other nonprofit organizations and some other national groups, on which your Collector's office can advise you.

duction. = Tomorfow: Medical and Miscel-

ANNIVERSARY OIL RIGHT - NEWAYGO, Mich. (UP)—Mr, and

“IMrs. Walter Wack agreed it was

{laneous ‘Expenses. .

KANGAROOS LONG JUMPERS "Kangaroos have been known to

Founded. ix 1554:

ciple of the exclusive spec is nationally reco in the nation. basic creed . . sound prices — to offer

service — to continue to shoes alone, that it pays to

+1 AR

ialization in family footwear

with the most famous labels in the industry... Marott's gnized as the second largest shoe store And today, Marott's is rededicated to a . "fo specialize in shoes exclusively — to

offer the nation's finest shoe . an accurate and correct fitting

an ideal 31st wedding anniversary present. They spent the day watch|ing a newly drilled oil well come!

(ed

and dedicated to the prin-

s at consisteently fair and

by specialization in a shoe store,”

prove, buy shoes at

the United | 2 ll

| States."

General Motors

Our experience with Pontiac owners has taught

923 N. Mq

invariably comes into the family circle when a new Pontiac arrives.

That is why this New Year’s Day seems to be such an appropriate occasion for us to wish that all of you who are waiting for new Pontiacs.

| might have them to énjoy right now.

And it is a pleasure to tell you that the Pontiac - factory is doing everything possible to help us

| _MERIDIAN PONTIAC, INC. ~~

\ 4

us that a great déal of pleasure and satisfaction

HEDGES PONTIAC, ING: Indianapolis 4, Ind. - 3515 E. Wash. Indianapolis 1, Ind. * 111

Footwear ... ¥ - formerly much | higher priced

Slings! Pumps! Flats! Sandals! Suedes! Patents!

~All sizes but not in all styles

Our New Year's Wish

make this wish a reality at the earliest possible

time: An extensive factory expansion program has been virtually completed, and as fast as additional raw materials are made available, Pontiac production will be increased.

We also want to thank you for your patronage and for your patience and understanding throughout the year which has just come to a close. Our sincere hope for 1948 is that we may continue to merit your business and your pricelgss goodwill.

Tuné in HENRY L TAYLOR an the mir hulen wankiv

/ i - Zk 2 / v

"when the fi

: g E

has sery America to-Meas located | tion, ov in over help to ‘COMPA largest | country

Pirst mortgage re , Bonds—Amortized Preferred stocks Home office builds Real estate under Policy loans. ..... Anauity loans... Cash in banks and Net premiums det = Acerusd interest . Other assets. ...

CHIEFTAIN PONTIAC, we | 1727 wasy W. 38th Indianapolis, Ind. omnes ane | w uh St - Lhe . Edward 0. Stéin : ’ : ae’ 4 1 { Lk as ’ : Beort Meiks, Oi