20 - MANCHESTER HERALD. Thurs., Sept. 16, 1982 West German Swensson rejects Tony, Sam BUSINESS government falls r. debate proposal swap blows . p a g e 3 ... page 10 -In Brief'------ Be cautious . page 4 Joins chamber Business meals still deductible The recently opened Greater Hartford County law or the old tax law that prevents you from deducting Division of Cash Millions of business people write off 100 percent of the Manchester, Conn. the expenses for all four of you? Chance of rain Discount Card of cost of taking customers and clients to lunch and dinner Friday, Sept. 17, 1982 America has joined — a lovely loophole in the tax law that has supported Saturday afternoon the Greater such world-famous restaurants as 21 in New York City Your ANSWER: Neither the new law nor the old knocks Single dopy 25q: Manchester for decades. The loophole was actually in danger when out this deduction. Just as long as the entertainment (or ilanrhpBtpr Irralh — See page 2 C h a m b er o f Congress proposed to cut the deduction to 50 percent of Money's the business meal) is deductible, so is the cost of having Commerce, The firm the cost in the new tax increase law — but at the last your spouse and the customer’s spouse along. is managed by minute, the crackdown on business meals was knocked Worth But watch this. William J. Peoples. out. The mythical three-martini lunches (I’ve known Sylvia Porter When the entertainment consists of nightclubbing or Cash Discount only one businessman in my entire career who drank something similar, you and the customer must have had Card is a retail dis­ three martinis at lunch; I don’t know where he is now), a substantial business meeting either before or after the count plan in which are safe for now. But the warning signals are flying entertainment (as you did with the customers during Israelis blast way in merchant members high. that all-day business meeting). Of course, the agree to allow a 5 to To illustrate, Mr. Black is an important customer of Each time you have a business meal, keep a record of customer’s spouse does not have to be present at the 50 percent discount yours. He and Mrs. Black are passing through the city the date, the place, the amount and your business business discussion. on merchandise or and you invite the Blacks, along with your spouse, to relationship with your guest. And back up your records services paid for in with receipts for all items that run over $25 each. cash. Nevertheless, a most significant point is that (QUESTION: When and how should you keep yo.ur Congress considered and then rejected the proposal to expense account records? Soviet Embassy overrun Cash Discount Card of America is a tab comes to $200 or more. You can deduct it all. halve the meal expense. This does reaffirm that, with national organization The cost of the meal is deductible business expense proper recot^-kdeplng, business meals are an entirely ANSWER: Daily. If you wait until the end of a week with home offices in because the meal takes place in "circumstances con­ legitimate deduction. the embassy gates Wednesday night said it had no confirmation. of downtown neighborhoods Israeli to write down the week’s expense records, the IRS may By Vincent J. SchodolskI California. ducive to a business discussion.” So the tax laws says And if you know and use the right tax strategies, you while the staff was in a basement The reasons for the Israeli loops broadcast announcements of not accept the records as accurate under the new United Press International Peoples says he believes a Cash Discount Card can multiply what is essentially a small deduction into shelter. No one in the embassy was .takeover of the embassy were not an ‘immediate curfew" through you can write it off. crackdown. Keep an account book — diary, statement of But the fact that the" crackdown wasn’t passed does hundreds of dollars of tax savings. Israeli troops and tanks battled reported injured. immediately clear. Under inter­ loudspeakers and ordered all people will someday be as popular as credit cards. expense, or similar record to show the necessary facts Merchants and consumers may call 646-5328 for not mean there is any easing up on business meal deduc­ Against this background of change, consider a few remnants of the Lebanese leftist “ Some Israeli soldiers — I don’t national law diplomatic areas are off the streets. common situations — in addition to Mr. Black’s dinner and keep your original daily sheets. -.i, c i ■ know how many — now are in the considered sovereign soil of the Most businesses shut immediate­ information. tions. On the contrary. The clear message of Congress (Save money as you organize your budget with oylvia militia forces in west Beirut today throughout this extremely complex new tax law is entertainment — in this area. « and imposed an immediate curfew consular section,” Soviet counselor countries which maintain offices ly. Porter’s Financial Almanac for 1983— a functional and taxpayer compliance. The Internal Revenue Service, on the Lebanese capital. Israeli Yuri Suslikov said. They told Rus­ there. Israeli troops were seen going informative desk calendar/handbook featuring Porter s warns Prentice-Hall, is likely to follow up with in­ soldiers blasted their way into the sian officials they were just But the Soviet compound sits on house to house along the Corniche best budgeting tips and money-saving advice. Send $8.95 creased audits and tougher enforcement. QUESTIONi Often, when customers come to town, Soviet Embassy compound and oc­ following orders. the Corniche Mazra, near the Maazra. An officer of the Lebanese Second vote eyed plus $1 for mailing and handling to Financial Almanac in If you do business entertaining, be sure you are in con­ they bring their spouses along with them. Naturally, cupied the consular office. “ Just now the Israeli soldiers are headquarters of the Lebanese leftist security police said the Israelis after an all-day business discussion, if you take the care of the Herald, 44(X) Johnson Drive, Fairway, Kan. militia Mourabitoun, allies of the were searching for weapons. HARTFORD — Hartford National Corp. may ask formance with the tax rules and can survive an audit. “ Now what has to be destroyed in shooting from this place — from customer and her husband to, say, a nightclub, you bring 86205. Make checks payable to Universal Press Syn­ Palestine Liberation Organization. The Israelis moved in a half­ shareholders to vote a second time on its proposed Keep the proof you need to back up a business meal west Beirut, we will destroy. And Soviet territory,” he told UPI deduction. your spouse along too. Is there anything in the new tax dicate.) who has to be arrested, will be reporters on the scene. The Heavy fighting was reported crouch along walls and looked up merger with Connecticut National Bank, between the leftist militiamen and nervously at windows. Snipers’ The merger is being held up while Hartford arrested,” Israeli chief of staff Lt. reporters were forced to leave the Gen. Rafael Eitan said in an inter­ arebeauxf sniper fire. Israeli soldiers earlier in the day on bullets whizzed through the air as National appeals a U.S. District Court ruling the Corniche but it tapered off in the the sharp explosions of Israeli tank voiding a merger vote taken by shareholders in view with the Israeli newspaper An Israeli soldier told reporters Ma’ariv. that he and his fellow soldiers were afternoon. The radio station of the shells rolled across the city. December. The court said information provided Mourabitoun went off the air in the A half-mile away, Israeli soldiers stockholders was false and misleading. UTC hikes Bendix bid by $120 million “ We will leave (west Beirut) inside the embassy Thursday night. when a suitable security arrange­ In Moscow, Foreign Ministry of­ morning. guarded the charred remains of one Leading the anti-merger fight is E. Clayton In the early afternoon, staterun of their tanks and three armored Gengras, the largest shareholder at Hartford ment will be found and all our aims ficials refused to comment on the will be achieved in the whole of occupation, but in Tel Aviv the Beirut radio said the battle for the personnel carriers where at least 10 National His successful suit in federal court is un­ HARTFORD (UPI) — United Technologies Corp. has the Thursday midnight deadline for Bendix to start The proposal was offered a day after the U.S. Justice Department gave antitrust clearance to both Bendix’s Lebanon,” Eitan said. Israeli military command denied its Mourabitoun headquarters was men died. der appeal in the 2nd U.S. Circuit Court in New increased its offer for Bendix Corp. stock from $75 to $85 buying up shares of Martin Marietta Corp. under its takeover bid for Marietta and Marietta’s $1.5 billion A Soviet diplomat said Israeli forces had taken the embassy. The over. York. " a share — or $120 million on top of its original $1.6 billion hostile $1.7 billion takeover bid. UPI photos Pleai-f turn lo pug<‘ 10 counter takeover bid for Bendix. soldiers blasted their way through State Department in Washington Along Hamra Street and a number "We are now making a decision on whether we takeover proposal. The UTC proposal to raise the cash portion of its RATS ROAM FREE IN APARTMENT should wait for a court decision or not," Hartford tender offer for 50.3 percent of the Bendix stock is the That cleared Bendix, which began the three-way The offer Wednesday came less than 48 hours before .