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Show HILL TOP TIMES Page 8 Samples of Income Tax Comparison YOU MIGHT OWE MORE Personnel 0 Arijanalysis of the !l 9 64 Federal Income Tax schedule reveals" that most persons will have an income tax liability if their taxable income exceeds $4,000. Personnel and Administration officials aid the reason is that ually compare the difference the rate of 'vithholding has between the reduction in the been reduced td the; second in- amount of income tax and the crement of the tax "cut" and, in decrease in the amount of withmost cases, is insufficient to holding. cover the tax schedule for 19G4. It is significant that the The accompanying charts additional amount of tax due show examples of the situation increases considerably if the 0 for various grades of military taxable income exceeds vismore and civilian personnel and and becomes even disproportionate if the taxable income exceeds $12,000. Exist The best way to cover the additional liability is to deIn crease the number of exempUnit tions claimed for income tax Lt. Col. Burton A. Meglitsch, withholding purposes, Personcommander of the 945th Troop nel and Administration officials Carrier Group (Reserve), an- said. nounced that applications are Each exemption for military being accepted for the Air members amount to $7.84 per trainForce Reserve month ; each exemption for d the ing program with civilian personnel represent unit. $3.62 per pay period. If a reHigh school graduates be- duction to "0" exemptions still tween the ages of 17 and 26 may leaves an amount due, the inapply by contacting the Reserve dividual may authorize the ext. 3330, Unit at TA of an additional or visiting the 945th at building withholding from his regular pay in amount 590 at Hill AFB. increments of $5 or more. Vacancies currently availEach person should check his able are in aircraft mecircumstances to deindividual chanics, supply, administratermine if he will owe additiontion and photographic equipofficials advised. al income $8,-00- Vacancies Reserve six-mon- th Hill-base- N two-wee- itatus. and has four person is in the third pay step (VOTE-E- aeh era ment repair. Selected individuals will be called to active duty for six months in order to complete several weeks of training at the military training center in San Antonio, Texas, and an Air Force technical school, Applicants who successfully complete the required training will bo released from active duty in six months, and will then be required to participate in one training session per k month and a summer each until their milicamp year is tary obligation completed. While a member of the Air Force Reserve, applicants may live at homo and work or attend school in a draft - deferred PERSONNEL CIVILIAN tax, GS-- 7 GS-- 9 GS-1- 1 $6,185.00 $7,490.00 JSi970.00 GS-- 5 GRADE Gross I'sv LESS: J600 per Exemption ...$5,010.00 2,400.00 ,2,610.00. LESS . Peduct.on, TAXABLE ( Th. INCOME -- Hates (4 Exemptions) ADDITIONAL .AMOUNT DUE INCOME TAX-10WJTHHOMJiNG ih. COMPARISON Income Tax 1"C? Income Tax 1904 Kates R-it- . IN INCOME TAX REDUCTION $ 344 00 338 02 -- $ 6,88 .. $ 422 00 344.00 C ... Rates Withhol.linp-10- 63 2,400.00 3,785.00 5,090.00 6,570.00 749.00 $ 19.00 875.00 R02 680.00 S 748.00 103.00 $ 618.80 611.00 $ 852.80 ' 1,000.00 1,000.00 9,095.00 1,328.00 1,175.8 $ 1,737.00 $ 5 91.20 $ 152.16 ' $1,168.00 $ 1,513.00 1,328.00 1,015.00 $ 127.00 153.00 $1,157.00 702,10 923.80 1,175.84 $ $ DECREASE IN WITHHOLDING the the problem. greater the exemptions that the fewer is VOTF- -It tax on a different schedule. ( Problem beck" e he is paying income Each exemption represents $3.62 per pay period. 260,14 70.18 $ 107.80 233.20 $ J ' i.ooo.oo' 11'1.oo7r ,,: $ ' 1.737.00 f J J( 2.215 iu . 228.00 278.00 1,769.04 1,435.32 1 2.132.26 1.729.44 2M . 333.72 Similarly, the 'id single individual n,,y b, PERSONNEL MILITARY (NOTE , 150.70 $ . $ 1,435.98 : si $ 1,965.00' 185.00 $ " MU3.0( $ 7,240.00 923 80 i-- 2,400.00 10,035.00 - 85.90 i $ . J12,45.00 8,240.00 $1,015.00 702 10 633.06 $ $5,073.00 , 748.00 $ 530 00: 611 00 897.00 v $4,341.00. $3,167.00 78.00 .$ 2 2,400.00 618.00 ,$2,109 . GS-I- $10,640.00 2,400.00. 2,400.00 n, .r Jtar of 00 j Ptions) exem Each member has four exemptions) ::imJi'MlL:i " STATUS NOT ON FLYING ON FLYING Colonel STATUS Major Lt. Col. 14 20 2,400.00 $8,280.00 2,400.00 $10,260.00 2,400.00 $12,000.00 2.400.00 8 $9,000.00 2,400.00 $10,920.00 2,400.00 13,200.M 2.400.00 4,380.00 6,880.00 7,860.00 S.600.00 6,600.00 8,620.00 ,lioo.00 678.00 828.00 1,000.00 1,000.00 900.00 1,000.00 J.ooo.00 INCOME 13,702.00 $5,052.00 $6,860.00 $ 8,600.00 $5,700.00 $ 7,520.00 $ 9,800.00 jiil INCOME TAX 1964 Rates WITHHOLDING (4 Exemptions) $ 626.00 $ 890.00 $1,252.00 1,113.00 $ 1,621.00 $1,020.00 922.80 $ 1,384.00 1,204.40 $ 1,903.00 jy: fRADP VRS. SERVICE Gross Pay LESS: FOR PAY PURPOSES Captain 8 per Exemption $600 LESS: Deductions (The smaller of $1,000 or lO'o of Gross Pay) TAXABLE ADDITIONAL AMOUNT DUE COMPARISON Income Tax 1963 Rates Income Tax 19C4 Rates REDUCTION IN INCOME TAX Withholding Withholding 1963 1964 DECREASE Rates - IN WITHHOLDING 824.40 602.60 22 139.00 $ 23.40 $ 740.00 626.00 $1,031.00 890.00 $1,429.00 1,252.00 $ 114.00 $ 141.00 $ $ 751.20 602.60 $1,052.00 824.40 148.60 $ $ $ 60.60 $ 227.60 1,366.40 $ 254.60 $ 1,836.00 Captain Major 97.20 $ Lt Col H $ 21 360.60 t 2.148.00 245.00 fsj 1.896.00 u:J iiWZ.40 ys; 215.00 $ 154.00 $ 190.00 $ $1,377.60 1,113.00 $ 1,680.00 $1,118.40 922.80 $ 1,464.00 I 264.C0 313.60 195.60 259.C0 $ $ 1,384.00 1,204.40 $ ltd $ $ 1,574.00 7.366.40 nJ 179.60 11,174.00 1,020.00 $ JJ, 1.MZ.M 1.621.00 177.00 in?, Similar situations may exist for airmen and other officers with fewer exemptions and (or) tmn.l v.nv f r" nrnfifi.npv rv Via7ii'(lniiu f?ntx It is significant that the fewer the exemptions the greater the problem. Each exemption represents $7.84 per month. NOTE ("i $ ! 353.C0 I J C who may be rett'irar J Airlines Seek to Cut Military Fsres United Air Lines has asked Civil Aeronautics Board approval to reduce military one-claservice fares by $1.50 to $3 on most route segments. The new tariff, filed to become effective June 28, will apply to all Department of Defense and U.S. Coast Guard official travel. to miles, such as Los The new reduced fare Washington, D.C. Angeles would be effective between Sample fares for military competitive points where one-claservice, if first-clas- s farea were reduced would be: Chicago-Ne- approved, York, January 13. $45.60 (compared with $47.10 Reduction over the current for current first-clas- s ); or first-clafare which includes Chicago-Sa- n Francisco, a 10 per cent discount for mili- $102.90 (compared with tary would n:ngc from $1.50 $104.90), a id Washington, D.C.on flights of 0 mile.-- , Los Angeles or San FranChicago to New York, for exam- cisco, $134.50 (compared with ple, to $3 for flights over 2,000 $137.50). ss ss (d n rji LnJ g w one-class- Is ss 700-1,00- Let "Jamto" Beat the now ii . help you 4 f Las plain reservation! your Time Fly and Hove More Hew York : with your "vacation "vacation rush", book ii o)', World's Fsir Hawaii Vegas Europe Phoenix or Disneyland Anywhere V.. s Admission Tickets to the t- YORK WORLD'S FAIR SALE AT A DISCOUNT NEW ON "Fly" Military Special No sense in savins at one place, borrowing at another, and fcccpinc your valuables at a third when you can do all three and more under one roof here. Checking Accounts Special Thrift Title I Loans Checking Savings Accounts Mortgage Loans Urive-i'Safe Deposit Service Auto Loans Travelers Checks Commercial J,oans Personal Loans n ' BARNES BiG 50 Check . "Fly" w Pass Fly on Leave orInformation With "Jamto" for on YOUTH FARE 12 THROUGH 21 YEARS - RESERVATIONS CALL "JAMTO" TICKETS INFORMATION HILL AFB 2594 Keprescntirtff Ail Scheduled lrl.inc:?Llnd Staffed by Experienced Airun |