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Show The Salt Lake Tribune Page C-6 BUSINESS ™@ CONSUMER CORNER/C-7 @ UTAH BRIEFS/C-7 I BUSINESS GLANCE/C-8 @ DILBERT/C-10 HOLD ON Employers focus on keeping key workers/C-7 THURSDAY, DECEMBER 3, 1998 Act Now for a Holly Jolly April 15 Market Indicators Dow Industrials NYSE | Minimize yourtaxbill by making simple and complex movesin ’98 S&P 500 THE ASSOCIATED PRESS WASHINGTON — December is a busy whirl of holiday shopping andvisits with family — and the last chancefor millions Utah's Top Performers The Bloomberg Utah Index easures the stock performance of the najor publicly held companies aking ulfered only modest ering a third strait day of Oracle FilmStaffers Face Securities Fraud Charges of taxpayers to makecrucial end-of-year decisions that could reducetheir tax bills | Tax Rates Regular federal rates for 1998 income-tax returns after deduc- comeApril Nowis have done taxes due,” 15 the time to makesure you everything to minimize the said SandraSoltis, a partner with the puntancy Kallick Bartelstein. firm Blackman r the most part, taxpayers need to make their tax moves by Dec. 31 to real ize the benefits on 1998 returns, People who itemize deductions — anestimated 35 million in 1996 — have the most at stake Some movesare simple, such as mak ing surethe January mortgage payment is made in December to deduct the interest on this year’s return. Others are com- plicated, such as selling poorly performing stocks to take advantage of capital ules ‘No single plan can reduce or defer axes for all taxpayers,” said Michael Joint: $0-$42,350. @ Head of Household: $0$33,950. 28% Rate @ Single: $25,350-$61,400. M@ Joint: $42,350-$102,300 on the cusp, a few steps in the coming Wolff, managing tax partner at the yourcircumstances. few weeks. “You have to be in a situation where till, tax advisers point out things to considerfor millions of middle-cl p Converting aregular individual retirement arrangement, or IRA, to a new Roth IRA is one such item. Roth IRAs are advantageous for many people because withdrawals are tax-free if they are madeafter 59% and the money has been in the account at least five years. Thereis anupfront tax onthe amount converted. But if the conversion is made by Dee. 31, the tax can be spreadout over four yearsinsteadofjust one. That installment plan disappears on New 15% Rate W Single: $0-$25,350. for individuals and couples. For people weeks could ensurethelevel is reached. For instance, a self-employed person could defer an income payment until January, or a wage earner could ask the Grant Thorntonaccounting firm. “To be effective, the pian must betailored to tions and adjustments Year’s Day. To make the conversion, adjusted gross income must be less than $100,000 @ Headof Household: $33,950- bossto put off that end-of-year bonus a $87,700. 31% Rate B Single: $61,400-$128,100. loint: $102,300-$155,950. @ Headof Household: $87,700$142,200 your incomeis flexible,” said John Gardner, senior manager at the KPMGPeat Marwick accountants. Minimizing adjusted gross income, a taxpayer's earnings before itemized or standard deductions or personal exemptions are subtracted, also could help a fami| @ Joint $155,950-$27 8,450. MHead of Household $142,200- a a ate e advantage of the new $400- per-child tax credit and new education credits. They are phased out abovecertain income levels. Steps also can be taken to bulk up Joint Over $278, 45 of Household: itemized deductions. Some tips: Hot PC Sales Actually Hurt Industry Mags Four months after the Utah De- partment of Commerceorderedahalt to selling investments in Oracle Film ompany President David Evans and mployee Gary Messer have beenar- rested. Evans, 43, and Messer, 42, werearrested this week and charged with 38 counts each of security fraud Commerceofficials said in July that Oracle Films based in Cedar City had been illegally selling sharesin Niche publications fade as advertising goes elsewhere the “The Latch Key Kid” film since 1996 without having a securitiesli cense. The companywas orderedto cease and desist the sale of any in- KNIGHTRIDDER NEWS SERVICE vestments DALLAS — Thegrowing popularity of At the time, Evans said he was personal computers is having an unintended side effect: tough times for com- planning to continue work onthe film and hopedto havethe order removed so the company couldraise funds. puter magazines. Once the darlings of the magazine City Cedar Police Detective Kelvin world, computer magazines have fallen on hard times even as the popularity of the subject they promote continues to Orton said $300,000 wassolicited from 38 peoplefor production of the film, but the money was spent as soon skyrocket. as it was collected and no film has ‘This yearis turning out to be the most difficult one yet for the publications, in- been produced. Ortonsaid heexpects toarrest a third person soon dustry experts said. Advertising pages are down sharply, circulation growth is slowing significantly and a number of magazines havefolded. The glossy, high-tech publications, Joint Venture in Wireless Questar InfoComm, asubsidiary of with names like PC Magazine, Macworld and Windows Magazine, are suffering from a loss of cachet with advertisers. As personal computers become less Salt Lake City-based Questar Cory has invested $5 million in ParkerVi- sion Inc. to help fund development of a new communications systems for the energy industry using wireless ra- expensive and easier to use, the machines are quickly becoming tools for vast sections of the population. As a re- dio technology ParkerVision, Jacksonville, Fla., sult, computer and software companies are shifting more of their advertising dollars away from specialized magazines de- veloped a new technology that it con- tends can reducethecost and power consumption of wireiess communica to mass-market media. Advertising pages at 200 computer and telecommunications publications tions systems. Questar InfoCommprovidesinfor- mation-technology supportfor affili fell 6.5 percent in the first nine months ates of Questar Corp. that are en- gagedin energy development transportation anddistribution. Radio links are used extensively by the Questaraffiliates for activities that include monitoring pipeline pres: sures and volumes and to open and close flow-control valves. Questar InfoCommpresident Clyde M. Heiner said the company also is exploring joint ventures with Par. kerVisionto use its technology in other communications areas such as home-security systems and wireless. computer networks srandma Sycamore’s Sold M z Baking Co, has acquired from private owners Grandma Syeamore’s Bakery in Provo, which produces a brandof natural. no preservative breads, Termsof the purchase werenot disclosed Metz, headquartered in Deerfield Ill, is a retail bread company serving 16 states in the Midwest. It is a sub- sidiary of Specialty Foods Corp. Robert B. Aiken, president of Metz, t Lake Tribune A Salt Lake Southern rail work crew maintainsthetrack ona section along 200 West between 3300 and 2700 South. SS THE SALT LAKE TRIBUNE, “Salt Lake Southern will be a good geographical fit for us.” s smallest railroad, the Salt Lake uthern, is highballingit toward a lifornia connection Thetiny railroad, which employs just five, picks upfreight cars from Union Pacific anddelivers themto business rail spurs throughout the Salt LakeValley about five years ago owner, RailTex sold to the Utah Transit Authoritya por- Salt Lake City Southern's current ed in San Antonio, s in negotiationstosell therail to Park Sierra Rail Group, headquartered in Napa, Calif It is prematureto say the purchaseis a donedeal, but we have madeprogress in the negotiations, Dave Parkinson, owner of Park Sierra Rail Group Salt Lake City Southern wascreated IRS Seeking Volunteers TheInternal RevenueService is For moreinformation, call Pat Angus at fp» 799-6705¢ At that time, Union Pacifie Railroad tion of its track stretching from the Utah-Salt Lake County lineto 900 South. Union Pacific, however, retained rights to haul freight over the track and then sold those rights to RailTex, which operates about 30short-line freight railroads covering more than 3,500 miles of track in 15 states. It also ownsrailroads BY LISA CARRICABURL home or theoffice soon maybe assimple as pulling a palm-sized gadget from your pocket and raising a miniature antenna. Palm Computing Inc. on Wednesday electronicfiling to volunteers most returns will befiled electroni- a THE SALT LAKE TRIBUNE Accessing the Internet away from their time to help low-income, disabled, elderly and non-English speaking taxpayers prepare their returns. The Volunteer Income Tax Assistance and the Tax-Aide programs offer free training in basic tax law and skills are especially needed, because Park Sierra Rail in Canada, Mexicoand Brazil But most of RailTex’s lines in the United States are east of the Rocky Moun- tains, and the company has decidedit wants to concentrate in that geographical region, says Jay Jackson, superintendent of operations for Salt Lake City Southern. Park Sierra operates three railroads the Arizona & California Railroad that runs roughly between Barstow, Calif., and Phoenix; the California Northern Railroad that covers some 250 miles in the San Francisco-Sacramento area; and the Puget Sound & Pacific Railroad in Washington. “Salt Lake Southern will be a good geographicalfit for us,” Parkinson says “We are hopingto have the transaction completed by the endofthe year.” cupiednearly a quarter or moreof bookstores’ shelf space, their numbers are nowdwindling. At PC Magazine, circulation only inched up 1.1 percent in the first six monthsof this year, after three years of more than 3 percent growth, Audit Bu reauof Circulations figures show Windows Magazine sawits circulation rise 2.5 percent in this year’s first half, compared to increases of 10 percent or higher since 1995. Even PC World only managed a 1.3 percent circulation gain. Like other magazines, Macworld has suffered from the consolidation of software and mail-order computer compa- nies. The magazinelost 12 to 16 advertising pages when the Apple clone companies wereforced to shut down Available next year, $800 gadget will let users e-mail, download information from the Web seeking people willing to volunteer Volunteers are needed at various locations throughout the Salt Lake Advertising revenue during the period couldn't have comeat a worse time for computer magazines. The Asian economic crisis made a bad situation even worse by reducing the number of advertising pages bought by Japanese technology companies, such as Toshiba Corp. Whereas once computer magazines oc- New Hand-Held Device Will Connect to the Net state. Valley, and people with computer DaveParkinson Eugene, Ore., companythat tracks high- dropped 2.3percentto $1.4 billion ‘Theshiftin advertising to other media Negotiations under wayfor RailTextosell Salt Lake City Southern to Park Sierra Rail Group BY STEVEN OBERBECK ofthis year, according to AdscopeInc., a tech print advertising. Tiny S.L. Railroad May Change Hands said the Provo company has developed a following among Utah consumers. He said the acquisition supports Metz’s expansionplansfor the cally. Over See TAX, Page C-10 announced the Palm VII connected orga- nizer, a hand-held computingdevice conFile photo Palm Computing Inc.'s PalmPilot will be improved in a new product that will let users access the Web via 4 wireless Internet connection. sumers mayuse to send and receive email, retrieve information from the World Wide Webor private intranets. and securely buyorsell itemsonline via a wireless Internet connection The product will be available some- lime nesp,year, and will cost less than $800 initially, Janice Roberts, the com- pany’s acting president, said during a Silicon Valley press conference. It ex- tends Palm Computing’s existing line of PalmPilot and Palm III organizers, which enable users to carry with them addresses, schedules and other personal and business information they download from their personal computers (PCs) Palm Computing, a 3Com Corp. sub- sidiary, makes the organizersandassociated modem and memory-upgrade produets in Salt Lake City. The company’s Utah operation also may contribute some services for the new product, said Cliff Allen, 3Com manufacturing vice prespient $ The innovation is intended to help Palm Computingretain its leadership of the smart hand-held devices market, the companysaid. Sales of hand-held computing devices are growing rapidly as consumers seek ways to remain connected tu information available on their desktop PCsno matter where they are. Worldwide shipments of the products are expected to reach 7.4 million units this year and may grow to 10.7 million units in 1999, according to International Data Corp. (IDC), a Framingham, Mass.-based market research firm See PALM, Page C-10% |
