Show SAYS 8 CPA You SunNews Tues December The 1988 2 can lessen that tax bite new laws’ Families can lessen their las bite by taking several simple steps before new tax reform laws go into effect Wayne Everett spokesman of the Color Country Chapter of the Utah Association of Certified Public Accountants offers these tips: Tax Strategy: To determine your best year end tax strategy compare your projections for 1986 and 1987 income and expenses If you find you have more income this year defer any additional income and take as many deductions as Charitable contributions possible medical expenses and contributions to retirement plans are examples of deductions currently available that will either be restricted or unavailable beginning in 1987 Defer Income - Investing in either government securities or a certificate of deposit that will mature next year is a good way to defer income into 1987 By investing your money now you will defer taxation on the interest for a year allowing you to pay less in taxes and to lower tax brackets in 1987 Retirement planning Many people will lose the deduction for contributions to IRAs beginning next year If you don’t already have an IRA open one And if you do have one make a contribution NOW 75 is Taking an your IRA can think Under the tax reform act taxpayers will continue to pay a 10 percent nalty for withdrawals they take fore the age of 59 and a half is subject Any money withdrawn to income tax at the same rate as other income Remember that retirement money should be earmarked for retirement Selling your Home - If you were thinking about selling your home in the near future you'll be glad to know that the new laws won’t affect you You can still defer the profits from the sale if within two years you buy another home that costs at least as much as the one you sold If you are 55 or older you can make a one time election to exclude up to $125000 in gains on the sale of your home IRA withdrawals early withdrawal on cost more than you Terry Menlove as new Bureau Chief for Brands Menlove will take the place of Dr Robert who is retiring after 30 Poulson yean with the Department Menlove will be responsible for maintaining the registration of 24000 brands and marks on livestock His office also monitore the movement of livestock In the state to prevent theft and disease prob- i A - S' I I (s-- i r I For many years been able to purchase people have a duplicate hunting fishing or combination license for five dollars Such a program has unfortunately lead to severe misuse of the privilege It has been the concern of the Division of W ildlife Resources for many years 'that people are purchasing duplicate licenses without lems thus protecting Utah’s $409 million livestock industry was A Utah natiave Menlove born in Payson He attended BYU and graduated with a Bachelor of Science in Animal Science in 1975 of Monson He married Dariynn Ephraim Fork with income to children Channeling If you've been shifting income into trusts for your children be aware of a possible tax increase Money for a child put into an account under the age of 14 will be taxed at the parents rate even if the They live in Spanish their three children Collection donated account existed before the tax reform act Children older than 14 are excluded from the tax increase Investigate other tax deferred s savings opportunities for your future to BYU A collection of 70 striking and dramatic masks from Mexico were recently donated to BYU by Dr and Mrs Michael Braunstein of Duplicate hunting & fishing licenses go up price named The Utah Dept of Agriculture has announced the appointment of OF ORIGINAL PRICE The cost of duplicate hunting and fishing licenses is now 75 percent of the original purchase New Chief of Brands Las Vegas The couple had intended that the museum sell the masks and apply the proceeds toward a new museum facility But associate Director Michael Cox said the masks are of such high quality and so rare that the !S y— first having purchase an original license according to Clair Huff of DWR Most duplicates are sold has opted to keep them Most of the masks are made from wood copper or papier museum just prior to deer season and mose are combination licenses with a $35 fee Until now the duplicates were a nominal five dollars A lot of people saw it as a deal he explained The Utah Wildlife Board established the 75 percent cost policy after the DWR studied the problem and considered not offering duplicate licenses at all often accented with leather hair They date from the late 19th century to about and animal 6 GRAB THAT BALL: Brother Laga and some of the students at NSHS Seminary have some fun after class on thfe Seminary Lawn The weather has t bep great - for November but weathermen say that snow is in the forece Utah ski resort owners hope they are right 1945 The Braunsteins began collecting the masks in the 1950s The 70 masks they donated represented one of only a handful of such collections still in private hands Cox noted Lone Tree Nursery has seedlings for sale The Lone Peak State Nursery is accepting orders for trees and shrub seedlings for spring planting Due to limited supplies orders are filled on a first come first served basis Seedlings will be available in the spring The Utah Division of- State Lands and Forestry sponsors the tree and shrub program each year to encourage conservation plantings throughout the state The seedlings may be used for windbreaks erosion control Christmas tree plantations wildlife habitat etc A minimum purchase of 100 seedlings is required with costs ranging from 25 cents to 55 cents per seedling Some of the species Scotch included are Blue Spruce pine Ponderosa pine lilac Hybrid poplar and Black Locust Technical assistance is also available Order forms may be obtained from local' state lands and forestry offices' county agents or the on Prison Road in DrapNursery er Phone orders will be accepted GIVE THE GIFT THAT IS REMEMBERED THROUGHOUT THE YEAR tS "h A Angel’ n at the nursery What better gift could you give than a yearlong 52 New book traces the life of Porter Rockwell troying ' CROPTBOW SOME RECORD: Porter Rockwell once bodyguard to Joseph Smith was promised that he purportedly would never die in a gunfight if he didn't cut his hair He allegedly killed more men than Wyatt Earp Doc Batt Masterson and Tom Halliday Horne combined A new book tells the of Rockwell and his life story A newly released book on the life and times of Orrin Porter Rockwell is entering its third edition ‘Porter Rockwell: A Biography traces by Richard Lloyd Dewey the life of the bodyguard of Brigham Young Rockwell is considered by some as America’s premier gunfighter He is charged with literally hundreds of killings The book traces Rockwell through turbulent Eastern beginnings s to battles with Midwestern to gunfights on the American frontier Rockwell suffered months of dungeon-stylimprisonment at the persecut-er- s hands of and but he fought back ‘The Desearned the nickname '3'" issue subscription to your local newspaper! Continuing his one man war into the West Rockwell purportedly killed more men than Wyatt Earp Doc Holladay Batt Masterson and Tom Horn combined “He held a supernatural mystto outlaws as he apparently ique could not die in a fight Dewey noted $12year $22 2 yrs "He claimed the reason was that he had received a promise from Joseph Smith that if he would not cut his hair he would receive divine protection’ Thus he became known as the latter day Samson of the West and outlaws actually gathered ab- out campfires and sang ballads about him Dewey quotes hundreds of oriletters journals ginal sources and court records and answers questions left hanging over a fiundred years THE SAUNA SUN GUNNISON VALLEY NEWS |