Show I Having S Tax j w GERALD E. DETERS We cashed in one of our insurance this year and received a check for from lour insurance We figured out that over the Wars we have had this policy we paid in over we have to pay taxes on this J since you received your proceeds in a 5 lump-sum and the policy cost you more than what you the amount you received is not taxable to We moved to Salt Lake City from Cedar this It cost us to make this move and are wondering whether or not we can deduct our you All reasonable moving of including transportation and meals and lodging necessary along the are deft This deduction has also been extended to i self-employed individuals provided they meet certain requirements which are spelled out in the I started a small business five months ago borrowed to buy a truck which I am using exclusively in my I was successful in getting who sold me the to accept as payment of the Do I have to report the as You need not report the extra money as You reduce your basis of the truck from to i- I just accepted a job as a manager of an My apartment is furnished to me Do I have to include the rental value of the in It amounts to about per Since the apartment is furnished for the of the you do not have to in- dude its value in YOU CAN CUT DOWN ON TAXES OWED The Internal Revenue Service says some people are not having enough federal income tax withheld from their pay checks and may end up owing the government a large amount of money when they file their 1971 The IRS urges employees to check with their employers to see if enough money is being withheld from their pay The reason for this problem is that the standard deduction has been raised from 10 to 13 the standard deduction is limited to 1500 on the tax which may not be equal to the J 13 Taxpayers most likely to owe taxes next spring are those who will earn more than in 1971 and intend to claim the standard deduction or itemized deductions totaling less than 13 percent of their single employees who earn or married employees who earn or more imd whose spouses are not working and all working |