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Show The Utah Enterprise Review, February 9, 1977 Continued from page 12b n West, Inc., A. Stephen Querry, Dir, 5621 Oakdale Dr., SLC, Ut. 84121; Annette Smith, Dir, 3155 S. 4440 W.t Granger, Ut. 84120; computer portrait services. 71010-Parago- 71011-Port- Mink Ranch, er Inc., Russell C. Porter, Dir, 148 Circle Dr., Morgan, Ut. 84050; De Vere S. Porter, Dir, 148 Circle Dr., Morgan, Ut. 84050; mink. Mine Tools, M. John Inc., Bradley, Dir, 455 S. Third East, SLC, Ut. 71012-Wester- n Larry J. McSweeny, Dir, Rt. 1, South Point, Ohio 84111; Eam Page 13b 45680; designmanufacture of machinery. s 71013-Phipp- Construction Inc., Steven C. Phipps, Dir, 496 E. 1130 N., Bountiful, Ut. 84010; Harold J. Moss, Dir, 3654 S. 100 E., Bountiful, Ut. 84010; building construction. Resources, Inc., James N. Barber, Dir, 455 S. Third East, SLC, Ut. 84111; Cheryl Wilson, Dir, 455 S. Third East. SLC, Ut. 84111; mining. 71015-& E Investments, Inc., John Parsons, Ag, 1314-31- 0 71014-Yellowsto- ne R S. Main, SLC, Ut 84101; 12-1- 4 Russell B. Beard, Dir, 2392 S. 200 W., Bountiful, Ut. 84010; real estate investment. WITH SAFETY First mortgages and contracts fully recoursed. Utah residents only. Utah & Western Investment Corporation Mail Today or Phone Collect 486-074- 8 iAirrwE7 South State 1321 Street, Suite 201 Salt Lake City, Utah 84115 I would like further information Name 71016-Americ- Cylinder an Head Service, Inc., Charles W. Verde, Dir, 3269 W. 5230 S., Taylorsville, Ut. 84118; Michael Standiford, Dir, 5811 S. Birchwood Dr., SLC, Ut. 84121; engine & cylinder head City Phone State Zip Duaine Brown Chevrolet has filed suit against General Motors Corp. seeking to stop the cancellation of his firms franchise. The suit filed in U.S. District Courtclaimsthe action by General Motors violates the Dealer Day in Court act. Duaine Brown, company 71017-J.T.- Inc., C. board of directors meeting on Jan. 19, demanded Browns resignation as president and dealer The request is based upon alleged discrepancies in accounting and expenses incurred by the corporation. Brown maintains the claims are unfounded and are based on a materially owner-operato- president, purchased the inaccurrate Capital Chevrolet franchise in 1970. Presently, it is the states audit r. per- formed by Motors Holding Division. Brown has consented to any independent audit and claims all expenses had been approved by the holding company. largest Chevrolet dealership. Motors Holding division of GMC, the majority shareholder of Duaine Brown Chevrolet, Inc., at a special Death and Taxes Investment Credit by Rex Keeler services. Manager, Executive Tax Service Investments, Tsao-Ya- n Chang, Dir, E. 2100 S., SLC, Ut. 84105; James T. Chang, Dir, 3077 Way mark Cir., SLC, Ut. 84117; fast food restraurant. 71018-M- c Mullin, Piatt and Zolman, Inc., Larry L. Piatt, Dir, 10 W. 1st S., 706, SLC, Ut. 84101; Phillip W. McMul-liDir, 1709 E. 1700 S., SLC, Ut. 84108; development & sale of computerized family pedi- Continued on page 15b 780 n, Address Brown Wants His Day in Court The investment credit is one of the most preferential tax incentives for business since it can provide a 10 percent recovery of the cost of equipment in addition to depreciation. This credit, which applies directly against the tax liability, is frequently overlooked by businesses, farmers, and people who are unaware of the credit or of the vast array property which qualifies for the credit. The amount of credit available, of course, depends upon the cost of the property and its useful life. If it has a useful life of seven years or more, you can receive the full 10 percent credit; a useful life of five to less than 7 years of the credit; and a useful life of three qualified for d to less than five years qualifies for of the credit. As an example, if you purchased a car strictly for business for $7,000 and expect to use the car for five years, you would be eligible for an investment credit of $467.00. This credit is in addition to all your other deductions. The investment credit is not refundable but if it is not used up, you may carry it back three years to offset any taxes paid during those three prior years. If this procedure still does not use the credit entirely, it may be carried forward. The tax investment credit applies to both new and used equipment. Also, if a piece of equipment is used for both business and personal purposes, (for instance a car used by a salesman), the investment credit can be computed on the cost of the business portion. If you have a business, farm, or are you should review any equipment purchases in the last three years to be certain you have not overlooked taking the investment credit. My next column will discuss the type of equipment eligible and property which qualifies, but is usually overlooked by taxpayers in preparing their income tax return. self-employ- ed two-thir- ds one-thir- self-employe- d, NNere The Moneysavers Qualified, experienced and knowledgeable. With over 110 cumulative years of experience, our professional auditing staff offers a variety of services for saving you lost revenue. Since 1968 our business has been the complicated world of freight tariffs and rates. We can save you money by auditing for freight rate over charges, because we know where to find it. traffic audit systems p.o. box 11036 salt lake city, Utah 84147 (801) 466-222- 3 |