OCR Text |
Show (The HELPER (Utah) J3 THURSDAY, FEB. 14, PACE SIX My Neighbor j ill. f JODRNA . if ffl m tACzr W1 (3Lvs ' jSr iMr and Mrs Honry Traintvein moved to Clear Creek this week to make their home. David Roberts, Jitm Hansen and Bob Sherman left Friday for Rock Springs, Wyo. Mrs Fred Roberts who has been visiting her daughter returned with thorn. Mr and Mrs John Blackham and Mrs Joyyce Hunt and chil- dron of Orem spent several days visiting with Mr and Mrs Doyle Blackham. Mrs MarKn Ropr left for rkjiJiiwi F 5 jhw, uic, wuicui She really dishes it out Gary Fowler, was in the that way!" ,j pita!. - hfc.s khcut Our Neighbors From NATIONAL KENIL WORTH By Ralph Robey i Th? Neighborhood club met at Arilla Kulow Tues- the home dav evening. Canasta was playtd h AenR3 Ferderber, Cel Charles ,,orth Vera Reels. Evelyn Wil- - and Raymond Hansen visited in Lehi Saturday. Miss Glenda Hoff indine returned with them to visit. .Matt nouehertv was released to onen violet jewk-es- , Mary Wil- - ro back to work after being off son and Nora Hatsis. for most a year. Mrs Gay Bruce and daughter (Andy Pappas is visiting in San out-- jiemdraino, nam., wiun iu auu arrived irorn xnoitoik, va., xo hos- - Mr and Mrs Wilford Brown and daughter spent the weekend in Salt Lake visiting son Ray and family and other relatives. Mr and Mrs Grant Rowley and family of Salt Lake visited on Sunday with Mr and Mrs Carl Asbury and Roy MiUer. Leonard and Glenna Jensen - ROOM This week we crlebrate Lincoln's .154 th birthday and St. Valentine's .Day. Through oui discussion we found-Lincolhad THE TAXATION OF CAPITAL GAINS n Any investaent that one mafe's will in time, jpresumab y, either increase or in value. xau, gives ns; to wnat is known as capital gains or losses when 4n. e BSsrt is sold or transferred. For years there has been a con- troversy over how, if at alL such Bruce and Mr and Mrs Golden gains or losses should be 'treat- ed from the viewpoint of ltaxa. Lambert of Price. ion. Some states make no dis- Mr end Mrs Ross Christensen and family of Salt Lake spent tinction (between capital gains the weekend visiting with Mr and any other dnteome. But the federal government does make a and Mrs George Richards. Mr and Mrs Victor Christensen distinction, and in his new tax have moved to Clear Creek Where program President Kennedy pro- Victor is employed. poses to modify this in import. ant particulars. For many years the federal in- come Itax law has provided that capital .gains would not be tax- ed at more than 25 percent, re oi what a taxpayer gardless might have to pay on his other income. This has been accom- plished by requiring (that only 50 prrcent of any capital gains be added to other income for tax purposes. If the maximum rate a person was paying was under 25 ZTZ SQ ihiim L to remembered ag j T country's greatest men. His kindness, hon- tv EtTPT10,tri " ' ana while m ICT . " l uni WWK- - "i ""1, r0a 1 2 f n?rL JT ir. n r T T" "i -- a rnom d y . K anjey Pr6SSur! rJJf m Policyholder Questions Answered by the Institute of Life Insurant Q. What is meant by the "set tlement options" in my life insurance policy? A. These are the various way which you or your beneficiaries may choose to take payment of your policy proceeds. For example, instead of taking immediate payment of the entire amount in a lump sum, it may be preferable to leave part or alt, of the proceeds with the life insurance company to draw inter- -' est; or to receive instalment payments over a specified period; or to take a guaranteed "."L " .? pusnes in all directions. . MRS CHIARA'S , MJa 1 f PROTECTION MRS BOREN'S by BARBARA CALES J FINANCIAL OUTLOOK SETTLEMENT ftia ROOM OPTIONS Af-- S Randy Draper, Larry .Hribar and Peter Martinez axe taking the daily weather report from the TV. They report the forecast to the students then iput on a weather map the temperature in various areas in Utah. We have a Weekly Reader about imen who in Antartica. They will be com- ing back soon because summer is almost over in Antartica. We are decorating the room and getting ready for Valentine Day. income. The policyholder himself may stipulate how the proceeds, are to be paid, or he may leave-thi- s choice to his beneficiaries. Q. 1 have been advised to cancel my present life insurance policy (which I have had for ten years) and to take out a new, less expensive policy instead. Do you, think this would be a good idea? A. If your present life insurance is a permanent policy, replacing it would probably be a t very bad idea. First of all, of a life insurance policy is based primarily on your age at the time you acquire it. Yon cannot possibly take out a new policy at a lower cost than the one purchased when you were ten unless the new policy rvfrcent. "thfxn irni? tiA Trvm?T raite on his capital gains. If the ;M GONZALES ROOM IiUa ,WI 'aa .run crying to do maximum rate was 'above 25 per- lVkm- - wursaay we are hav- .Ule cent, then the taxpayer still paid neveryone .aic""ue only 25 percent on his capital'. s is bringing 15 cents for pop and gains. Two other Toints- - are inroort. candy. We are working with de- -. amt. For profit or loss to be cimal fractions in arithmetic. classified as capital gain or loss, the arset must be held a mini Thought is, perhaps, the fore- -' offers substantially less benefits-thamum of six months. Secondly, runner and even the mother of the older one. Also, your csroftal gains can be offset only ideas, and ideas are the mcst present policy undoubtedly that would take years to against capital losses, except a powerful and the most useful build up in a new policy. For exlimit: q carry-ovfor five years things in .the world. Gardner ample, in most cases a policy-buildmay be deducted from other in. up cash values at a slower come. rate during the early years than the President Kennedy recommends Furer, lengthening holding after it is ten years old. In fact, from six to twelve months the that all these features be'ehang- - Pe1 increase in your present polfor all icy's cash value during ed. The holding period, he says, accomplishes nothing the next should be increased from six practical puriposes. One of the ten years will likely be greater months to one year. His reason s'trongest and most legitimate than the total premiums you wilt for this ds that with the present complaints against the taxation pay during the same period. probably not be true in the holding period it is too easy for of capital gains has been that it investors to shift regular invest- tended to make investments less early years of a new policy. Of course, if your present life fluid tended to freeze an own- -' ment profits into capital gains. insurance is a "term" or tempoInstead of taking 50 percent er into particular stocks or bonds. policy, it would be a good of such gains or losses, the Presi- The Presidenlt lapparently believes rary idea for you to consider replacing that 'the by doubling dent suggests that only 30 per. holding it with a permanent policy which cent be taken. If his proposed period this freezing will be end- -, in the long run is likely to be less, tax : eductions are enacted, the ed. It can have no such effect. than a term policy, expensive rates applicable to capital gains A prime requisite for maxi. even though the premiums on Will be from 4.2 to 19.5 percent. mum, healthy growth of our term insurance start out at a Finally, the President says that economic system is the ability of lower rate. limitation capital to seek places and pro-- j the present five-yeon ctrry-ov- er .of capital losses duce products which need de- -! frequently causes severe hard, velopment. Taxes on capital gains ciple should be applied across ship, and that there should be hinder this in Wo ways. First, the board. This would mean no such time restriction. The they reduce ithe 'amount of capi. that if an investor owned Stock, present annual $1,000 maximum tal; secondly, they make it un- or bonds, and for some reason for such offset against regular profitable for en investor to sell decided it wise to sell, he would his holdings unless the poten- not be subjected to a tax on any income is to be maintained. tial rate of return from the new profits granting he reinvested; are sigNow, obviously, these nificant changes in the handling venture promises to more than the proceeds within, say, a year. of such capital gains and losses. offset Ithe shrinkage of his funds If he did not reinvest, he would have to pay a tax. Such a sysThe great question is whether, as a result of the tax. even if they "mre enacted, they Some years ego it was pro. tem would put an end to direct will solve the problem and end vided by law (that if a person taxing of capital as such,.: and th controversy The clear an- sells e home end reinvesAs ell would once again give- - us the swer is that they will do neither-Capita- l the proceeds in a new home fluidity for Investment which is gains are not income within a specified time there is essential for ithe welfare of the in the sense that wages, salaries, no tax liability. The same prin- - nation. interest, dividends, and profits are income. It is highly question, able, therefore, whether capital CENTRAL COMMISSION galas should be (taxed at all. the-cos- i ? TURNS AT LEAST years-younge- JN UTAH IHiER IS A NATURAL Brewed slowly, by a centuries-ol- Utah's traditional beverage of has-valu- natural process, beer is moderation - light, er s sparkling, delicious. And naturally, the Brewing Industry is proud of the millions cf dollars it contributes to this state's economy through wages, advertising, rentals, insurance, transportation and Utilities. Money made in Utah, spent in Utah. In Utah, beer belongs, enjoy it. This-woul- UNITED STATES BREWERS ASSOCIATION, INC. UTAH DIVISION 6. NEED i IT MAKE IT GOT IT ar . SEE IT SHOW IT 'ttsforme!: '.TT 3lMT ANT) SUPPLY CO. JACK'S RADIO-T- V Phone - Helper 472-569- 1 - SAIES SERVICE . Expert service by a Technician trained by DeVrv Technical and RCA Institntes. WE SERVICE ALL BUY IT ! MAKES, MODELS Car Radios Home Radio Set At lira ir Television We repair when ern ets in the home in our mod- Dossible well-equipp- ed not at the home Phone shop when Ats 472-333- 8 P1CKVP and DELIVERY off Mm4 TIIOKIT HATCH Lawyer means better living for you Once a manufacturer was looking for a bet-lproduct. 1 warn to be fure that people NEED IT," he taid. So be asked a lot of them about IT. Thi aaswera told him bow to MAU IT. FinaLl be COT IT. But IT cost aa awfnl lot to mike. To aell it or lot, bed kare to make IT by the million. TTblch weaitt IT bad to b aold bj the miliioo, too. So be let his advertismg mao SEl rr. Ads began to SHOW IT to millions who might UU IT enough to BUY IT. Aod they did. For IT was indeed a product that tbty needed, at a price they could aHord to pay. Then a big sign, MOKI HI LP WANTED appeared on the factory door. Iwybody was happy, for now they bad IT made. Let's K0p Rolling Ahiad kAW sientp, plot, or amy aNndl, ewo prico mortar, MmvsoikE offko ofcta of ad mawinVg Vrk rkot mm apood yovr bwslnoaa n4 arv y motvoyT A ajwkk tolophono coll will kftof ymt prompt, coMitoow aorviw . . . right Wr at Professionals IT to your buslnooo your tolophono eloco """' CALU Phone GR HELPER JOURNAL OFFICE SUPPLY MITCnELL FUNERAL IIOME . Dick Mitchell 133 So. Main Helper, Utah fraibakmer tt run oral Director pttMM KB Ut YOU IOCM ftSmSENTATTVf fO a& Catte Stamp |