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BUSINESS Arms Freeze Just Soviets Seem Uneasy How to Sell |One Joyner Cause About Arms Talks Your House Nail Down Maximum in Deductions! F'f

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BUSINESS Arms Freeze Just Soviets Seem Uneasy How to Sell |One Joyner Cause About Arms Talks Your House Nail Down Maximum in Deductions! F'f 20 - MANCHESTER HERALD, Tues., June 1, 1982 BUSINESS Arms freeze just Soviets seem uneasy How to sell |one Joyner cause about arms talks your house Nail down maximum in deductions! f'f . page 3 . page 10 . page 25 1 deduction. of his lodging while he’s at home. If he’s at home for With the fall semester’s college costs already making 3) “ M y daughter w ill earn around $2,600 this summer. four months plus what you spend for college expenses a nightmare out of the summer vacation to come, this is I expect to provide another $2,400 in support in ’82. So I could put you w ell over the more-than-half mark. _ • Fair, cool tonight: the time to look for ways the tax law might help you If you provide a car, arrange the financing yourself Manchester, Conn. Your flunk the more-than-half support test.” « sunny on Thursday take some of the nightmare out of this era’s soaring Wrong! You may save your dependency deduction and make a small down pasunent, this capital expen­ Wednesday, June 2, 1982 costs. You can get a $1,000 dependency deduction for Money's because of an often-overlooked tax rule. Money your diture may count as support for your child. Make a gift — See page 2 your child in college as long as you provide more than daughter earns doesn’t necessarily all count as support of the car and have your son register it in his name.] Single copy 25c half of his or her support. Worth she provides for herself. It’s what she actually spends on By providing more than half your child’s sup^rt, You may be among the many parents who miss out on suggest Prentice-Hall's tax editors, you’re also entitled Sylvia Porter support that’s crucial. For instance, say you have your dependency deductions to which you are legally entitled. daughter put a $150 of her earnings in the bank. You pick to deduct any medical expenses, hteny colleges inctudp Because of some common misconceptions, you figure up the tab for an extra $150 of her expenses. Your a charge for medical care in their tuition fees, even that when your children leave home, so do your deduc­ daughter can use the bank savings for future expenses— though it may not be broken down. “ Ask the college for tions. Here are four examples to help set you straight. itemized statement of the charges,” Prentice-haH have provided all of her support — $2,500 out of $2,500. and you get a dependency deduction for her. You 1) ” My daughter ^von a big college scholarship, so I urges — and then get a deduction for the charge for 2) “ My son has found a summer job and w ill earn provide more than half of her support— $2,550 vs. $2,450. won’t be able to claim her as a tax dependent.” medical care. _■ ^ around $2,000 to pay for his college expenses. ’That 4) “ M y son w ill earn around $3,500 this year. I provide Wrong! In fact, if your daughter wins a scholarship, (Job hunting? Sylvia Porter’s comprehensive new 32: means his income will be too high for me to claim him $2,500 for his support. So, if I ’m not able to come up with you win a grade-A.tax break. A ) The scholarship money more than $500, the banking idea won’t work. He has page booklet “ How to Get a Better Job” gives up-to; is tax-free to you and her. B) You can still get a as a dependent.” date information on today’s mob market and how to Argentines provided more than half his support and I can’t claim dependency deduction for her no matter how big the Wrong! ’The general income limit — a dependent must take advantage of it. Send $1.95 plus 50 cents for postage have less than $1,000 in gross income — doesn’t apply to him as a dependent.” scholarship. and handling to “ How to Get a Better Job” in care of your situation. Not necessarily right! Yes, he has provided more than Let’s say you pay $2,500 toward your daughter’s half the money for his college expenses, but there’s a lot this newspaper, 4400 Johnson Drive, Fairway, Kan. college costs. She gets a $2,800 scholarship. Result: The income limit does not apply to a child who is a) 66205. Make checks payable to Universal Press Syn­ under 19 or b) a full-time student. So all you have to do is more to support than just the outlay for college She’s still your dependent for tax purposes. Since the dicate.) meet the morethan-half support test to get a dependency expenses. Counted as! suppOTtsupport is the “ fair rental value” scholarship doesn’t enter the picture, you, in effect. surrountded fn Briefs Studies: World -Manchester at H^orlc- 2 The owners of the central portion Director named of the Great Lawn said today they will withdraw their application to at Stanley HARTFORD — Raymond F. Solomson, of build condominiums so they can Manchester, recent­ give supporters of preserving the ly advanced to direc­ seeks new order lawn tim e to raise the money to By United Press International The British Ministry of Defense tor of brokerage ad- purchase it. maintained a news blackout but mini strati on of W esley C. Gryk said he and. Exactly two months after they in­ reporters on the Falklands said Phoenix Mutual Life vaded the Falkland Islands, Argen­ British troops were firm ly in control By LeRoy Pope are relatively stable. Michael B. Lsmch had had a nund^.F > Insurance Co. Solom­ of meetings with William E. tine troops were surrounded in the of the snow-dotted. 1.500-foot Mount UPl Business Writer ’The secondary market is composed of son is responsible for Kent, a key observation point 10 disadvantaged ethnic groups. FitzGerald, chairman of the Cheney capital of Stanley today with their the supervision of backs to the sea, faced with either miles west of Stanley across a bleak NEW YORK — After spending $95 Piore and his colleagues argue that Brothers National Historic Land­ home office surrender or an all-out frontal plain. million in 30 years on grants for this division of the labor force caused mark District Commission, who brokerage ad­ assault by Britjsh troops. Other "spearhead " troops were economic research, leaders of the Ford U.S. industry not to expand its plants and “ expressed a desire to be given the ministration staff, As thousands of British forces reported within 10 miles of the Foundation have decided that the free hire more full-time, welleducated opportunity to explore the possibili­ compensation for m assed in the tre e le s s h ills capital with its 7,000-man Argentine enterprise world really is groping workers in the 1960s and 1970s, but in­ ty of a fund drive for the purchase of brokerage field a portion of the Great Lawn to be overlooking Stanley, Prime garrison. poi.sed to retake the town toward a new economic order. stead to se worn-out or obsolescent management, coor­ UPI photo Minister Margaret Thatcher sent exactly two months after Argen­ The foundation recently published a plants, run them overtim e and staff preserved in its natural state.” dination of special Gryk said he believes there is a Britain's U.N. ambassador Sir tina's invasion started the war But booklet summarizing its economic them on a labor-intensive basis with projects and chance a fund drive could succeed in Anthony Parsons back to New York top-level British defense sources research entitled ’"The Search for a New cheap workers who could be laid o ff easi­ budgeting. raising the money. Ending his tour Tuesday to warn Argentina to said no m ajor battle was expected Economic Order.” ly when demand for products fell. Piore Solomson joined “ We wouldn’t do it if we didn’t "withdraw or face the con­ for several days Robert Tolies of the foundation, who blames the uncertainties created by the the corporate ac­ think there was a good possibility,” Young children sit on their parents’ to Britain, was to be honored by Cardiff as a sequences,” government sources To indicate how bloody an attack wrote the booklet, conceded the title war in Vietnam, the recurrent oil crises counting department he said. “ We have hopes and some shoulders, trying to get a glimpse of Pope ’’Freeman” of the city, a rare honor. Story on said. could be, tbe British Defense may be somewhat misleading because and global inflation for the adoption of of the Hartford- assurances.” John 11 as he greets crowds today In Cardiff, “ One can almost taste the early Ministry announced 250 Argentine the conclusions in many instances dealt these shortterm, shortsighted policies. p a g e 5. based insurer in 1970. R aym o n d F. S o lo m so n more with international problems than f I He added, “ It is expected that this Wales: The pope, winding up his historic visit scent of victory on the wind, " said soldiers were killed at Goose Green He transferred to the Many, of the projects dealt with inter­ J endeavor will culminate successful­ reporter Robert McGowan of Lon­ last week, with 120 of the 1.400 with a basically new economic order. national problems created by the auditing department in 1971 and after several ly within a year.” don's Daily Express, camped with prisoners wounded.
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