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Show II The Salt Lake Tribune. Sunday, April I I luiiu 17, 1977 Portrait Inkley: Photo Enthusiast to Businessman Ronald W to d photogl aptly ll.Hcy enthusiast in his youth So when he giaduatcd nom Fast High Si hool m 1917 lie de( ided to Lit n his hnhhv into a i.iplt (lists out l)t CVelviKHly i ict niv employes know that d they do a good toti they will be awarded approp-- i 'he don't do a good Job. they latejv won t be reveal tied al-He i a slicing believer in education ! n his employes .Although Mi Inkley has no former formal ed nation beyond high school c I spent eiht years in the schoc of fluid knocks" he recently spent SI .200 lor a in hour o! lege business course tailcu ed eve lusi' lor Id ol his siifH-r- isors and assistants '1 he cost, he say s. "vv as well woi th ll Mr Inklcv meticulously looks tor the nest locations at the cheapest prices to place his stmes His facilities are not 11 olesslon He borrowed some money trom his lathei rented a small building in Sugar House and opened his own photo equipment slorc He knew nothing about updating a small business, had not conducted diiy mai hi t mg sun evs and soon disc ov el i tilde vva- - little demand for his product cry Lean' Years l! look him eight ' very lean yeaisto leal n mai keting principles and dev clop a success! ul business phdosophv pi V T -- lll.li-- V ii c But he stuc k with it and it paid nit Inklcv new operates II stores in I tuh and Idaho in addition to a eol r photofmislnng plant, an audio-visua- l elahoiole and lentul costs are dll 'Ml li -- I I dibit v tit Olllpl It Ol, - so . , O I ,,ni. cauls and stcico equipment the stol es Oil! stereo business has really heel " a growing said Mr Inkley who place-high priority on dctci mining vvhai type ol product mix best Ids end location Metehulldlsc on lilt- shell 1' veiv based i l m ill Ogcic n He over gros.sccl so I linporlan' ssef rile mod lir.pmlaiii asset my 163 employ es." 1 have Mr Inkley said is In order to keep a customer coming hue he has ta he tieated i om teously Iv and el qua kly k , t KxM0M- So Mr Inkley gives is employes common stock m the comp my alter they have been with him lor two vears As their tenure with the organization k tigthens, their amount of sloe k grows I have lound that to give employes a piece of the action motivates them to woik harder and treat the customers better because the .success of the business will have a direct elicit on their own futures That logic is consistent with Mr Inkley s philosophy that petsonal incentive is tiie key ingredient to efficient production '"1 believe that in older to keep the lice enterprise system going you have 4 iSSSSgKi-!- : is Inkley was a photowho opened a cam nut" graphy Ronald W. era shop. lie now exceeds fti million in sales a year. Achioc to the? Taxlorn NEW YORK (AP) -The following list shows the New York and Amen-ca- n stock Jacob Smith, Cl A Dear Mr. Smith: On Dec. 29, 1976. I made a contribution to m.v wife's Individual Retirement Account (IRA) only to find that she had done the same thing a few days earlier. On Dec. 31, we had the over-df- exchange stocks and warrants that have gone up the most and down the most in the past week based on per cent of change regardless of volume. No securities trading below $2 are included Net and percentage changes are the difference between last weeks closing price and this weeks closing price. By transfer the lor m his decisions His stores run almost in a stiaight line li oin Idaho Falls to Salt Lake City hhe buildings vary in size from 120 squaii teet to 6,50(1 square feet and uv ci age around 3.000 square teet Decisions Thorough Hveiy decision he makes has a purpose and is the result of long ard careful thought, from picking a store location to stocking his shelves with the pioper mix" of products In 1954 he moved his operation truin Salt Lake City to Ogden "because there was too much competition in Salt Lake City and the market potential looked better in Ogdc n " In 1970. after the industry grew in popularity and his ovn business was sound. Mr Inkley the Salt Lake City market. Since that move, the business has jumped from a $1 million opei ation to a $6 million enterprise "Camera stores generally are not doing too well in today's market i Ml ii g , dial siipplu lb lect c' contribution to a regular ac- count, and we were told there would be no penalty, as the correction was made before ' yearend. However, the Internal Revenue Service says a 10 per cent penalty will have to be paid. Which is the correct ! L.U.W. answer? Excess contributions to Mr. Smith ira accounts may incur a 6 Rr cent penalty This would not apply if no more than $1,500 was contributed during 1976, and the excess amount is withdrawn prior to the due date of your 1976 federal income tax return. See Internal Revenue News Release number 1758 Premature distributions from IRA accounts may incur a 10 per cent penalty. But this would apply only U distributions includible in gross income. You avoided this pitfall by making the "distribution" on Dec j! Therefore, you owe no penalty. See Section tost f Internal Revenue Code Dear Mr. Smith: I purchased a house this year, using a Veterans Administration (VA) loan. Is the 1 per cent origination fee for the VA loan (in my case 62(0 deductible as an interest expense? A.J. ' Points" a home order secure in to paid mortgage are deductible in full when paid, if this is clear that the points represent additional interest The points, or loan fees, charged for VA and FHA loans, have been ruled to be for services rendered and therefore not deductible as interest Dear Mr. Smith: As a result of a lawsuit for funds misappropriated from me, I was granted a judgment (or the entire amount of $S.(Mib, plus interest and legal all- - We on survive nt service Mid It a he said i t cl He-i- hold' up York Stock Winmrv-Ne- w Exchange VVl'lk With he said "Therelore we have cosily developed an equation to determine what will remain in the inventory ot each store His theory n that the per cent of margin times the yearly turns (number ot sales' should equal 1)10 per Cent Take Long Look ' 11 the total for a particular product u not too. we take a long look at tht merchandise," he said 1 Lowx New York Stock Exchange I!::'.', you mud report this settlement would depend on the formula or basis for arriving at $3,667 I or example, if it includes interest you would rejxirt that portion, reduced by pin rata legal expense, as interest income I he balance of the A.iioT is subtracted from your oihi cash investment and the remainder is your loss lor a nonhusiness bad debt, reportable as a short term capital loss for p)7(i Dear Mr. Smith- The company I worked for has ilosed down and I had the option of taking the pay due me, or leave it in there for retirement which would have been in another 13 vears. 1 chose to take the (ash. But do I get a tax break by taking the separation pay? Out of $1,900 they withheld, are they supposed to withhold Social R I, .11 Security tax? If you received a lumpsum djstnbution Imm j qualified pension plan, and you (hose not to roll it over to an individual retirement plan wat( h for and be guided by how much capita! gam and ordinal v an nine is how n on Form 109dt (in 1'iTi, y,,u should n ( cue this from the trustee of the pension fund The condoned gain and income shown on Hus fotni non lie rejmrted on Innii 1972 for .M.II,I 16 ycai averaging Neither F I C A not m ometux is withheld in this category Winner American Sim ( you did not retire at the ter initiation ol yum n,! i.t, all wages ami oilu I ( from your company in 1976 will he sulijeit oil to y If A and income tax withholding iurV2 lio.jid 1 Ilia ail this no omjx-nsutio- 'i'ived 1 7 Mi Inkley said the inventory size i tailored to the volume each store "The man produces in merchandise ager ol each store is charged an interest on his av erage inventory so vv t work with him to make sure he has what he needs and we move out what turning . o Inkley belongs to a national New Yuik which buys merchandise ir large volumes from manufacturers unci suppliers It is comprised of hundreds of small businessmen, "who would not survive without it, he said. co-o- p tin- s Null ll Hies world the I 4 o ' 6 a'Wri. .,st o ip tni our Allan. with a stamped envelope, for information tint rn.w will not tv do lo'.ed we ol' 11 111 cIHltac look lol plate he at tile in I lit tall State u glslatol and candidate tor the 1st ( ongi esslolial District seat iloill I. tali in 1971 said he attained his position m the business community the bard way I lumped into a tough, competitive. Held bee oust ! thought it was tun Then I learned that to survive had to in tough and competitive too 1 From 1947 to 1954 I was a photo graphy nut who owned a store Sint then 1 have been a businessman '111 favoiitc yxison ,n one cd tin sc Club Med icsolts e heie eveiyU idy hot seems to be headed these days Playa Blanca or Cant tin Catcivclleoi Ton Royal In Guadeli nipe.I leiaii Caribbean its a way to vacation and nobody deserves it more than you Just bu into out store and reuistiT for tl ic? to be held on May 2b No purchase is necessary To make it eastm. m- -t dip the coupon on thi' p'H? nd brin5 It in. While youie at the Chndie c ountet i heck out out collection which includes Cologne Spray. 7.00. Moie Moisture Moimuttet 6.00. Supeiior Cleansma Lc tii m. 5.00. F re-- h New Makeup. 5.50. And. fi n that fav oi ite pel son yeinewith Ch v Col jpe fot Men. 9.00. Co spieftc s. 116 Sony, no mail ot pi one oi (lets t - Dane I.rtlfr el plained let jm.I. i ''i.a thiev es tiled a $ ,ii ,i (i register burn ( nwau he tail S sterna at 27 ' I. xhi si ml h lc pill Is bee c Writ Pj Tr coo have a" momt tax proMi-n- s 1 ax 1'j lorn' P (j box 4V0H1, Tucson, Art ay die piollllsi " quit k deliv ei y ThetollUel unsuccessful 041 fist- he v y r o ''UsUie'-tw- tiained lioiioi ih U s business phllosphles and piactiees iceelltly earned him the honor ot being named "Retailer ol the cur" by Photographic Trade News ,i national publication Ml s 9 I e go. I., u,i Stock Exchange ' w y i' j i , ay A ii the light stull at tile light right time vou wen dead - 7. si I fees. The Js.inhi was intended for the purchase of 1,000 shares of restricted stock at $X per share. This stock was never delivered. It was very difficult to collect this judgment but eventually my attorney settled and my share after legal expenses came to J.5,667, all in 1976. How should I treat the loss of H.3.T1? L.M. i 111 riia-.i'ino- . ) t i the battle lines dll hell was I learned tht Korean conflict ot the right ol last delivery importance product, he added It vim dtdti t have W in Mexico . 1"' someone else fic-sl- U el ol' suppilel us Visit the Charlie counter and find out i how you tail vv in a fiesli. vac ation from Chailie and Club Med. With am; a kind of Inc k. u in'll lx !'c 1,1X11 ill av 11 1 of that resort vacation, compliments of Charlie and Club Med Midi 'I fill '1" - I i large lolelJI sUpplns v el y piohleill ith w Win a fabulous Vie I1 dnvc i stopii lit iv Winners, Losers Pension Fund Overpayment? bank iii n rt ,mt lac n ' : mu lltkii ii o llllt'l ' c : , - X .ill ihuic's his success to a phdosophv which si losses the impm t.ince ol personnel elite leney in advei Using and set v li o and oln-nnmix of pioducts that will sc quickly ill M ol llic fiilcrjtrisc liu roinr you have to make enitalili tul of eAtrxiHxl, ,siis Ronald Y. Inklex. c e otteleil to dll kt i alld 'iippin d lined n end halii' c ires 'siipphc i "lii order to kct industrial division dor media instmc nia' l - tint i.U i at' tl'.M ;.i Besides caillel as him alld othel phiitngl nnhli equipment Inkley s Mi lion in sc hcxilsi ami two serv ic e entei s Last vder his husiiicss, which is now ,ct n '.'6 hole comingir. sev ' alldt s.ad Stay heacl in (lame o stav ahead ill the gallic Vouhavc to know in advance what the consume! wants and you have to ollei ddleieiit types ol prod acts to k. op ciistomei- ho. u Ilil't 4 |