2fi—Lancaster Forming. Saturday. March 14.1970 Income Tax Return This is thr second of a scries of articles prepared in co operation with (lie Pennsylvania Institute’s Committee of Taxation to assist taxpayers with their 1969 income lax re turns. Although the Tax Reform Act theieaftcr. when (he persona 1969 conuaned no sene, al tax is 5 750. a single pel le changes for the o.dinnry in- K - come of individuals, every mdiv .dual taxpnyci will be affected by at least one of seteial changes which weie made in the lax bur den Affecting all taxpayers aic m cleases in the personal and de pendency exemptions Foimoily S6OO each, they aie scheduled to incicase to 5625 foi 1970. $630 loi 1971. 700 foi 1972, and $750 loi 1973 and subsequent ye.us Anothei change of huge genei al inteiest is the meiease in the peicentagc slanclaid deduction Piesently 10 r < with a maximum of $l,OOO. it is scheduled to m ciease to 13 r < with a maximum of $1,500 foi 1971. 14 f r and $2.- 000 for 1972 and 15T and $2,000 loi 1973 and subsequent years These mcieases will have the effect of level sing a tiend undei which an increasing number of individuals weie discontinuing the standaid deduction in favor of itemizing deductions Accompanying the increases in the percentage standard deduc tion is a new low income allow ance, the effect of which as to piovide a tax exemption foi low income taxpayeis which is even laigei than that affoided by the peicentage standard deduction After a phasing in piocess, the low income allowance will be $3,000 in 1972 and following yeais, so that m 1972 a single pei son will pay no tax on his fiist $1 700 of income ($lOOO low income allowance, plus $7OO peisonal exemption) In 1973 and NUMBER ONE GARDEN^ELPER! V' DELIVERS EQUIVALENT OF 2 EXTRA HORSEPOWER /FULL-DEPTH, FULL-WIDTH ROTOR PENETRATION V MOST TROUBLE FREE CHOICE OF MODELS AND ATTACH MENTS-ROTORS, TRACTOR TOOLS. Sales and Service GEHMAN BROS. 1 Mile North of Terre Hill on Route 897 East Earl, R D 1, Pa. Phone 215 445 6272 \PIANT FOOD! IT WSTDRFsI |S ' — HFPF “Look For This Sign” il 11%fc THE NEW ONE SUPER SUCKER STUFF For Sucker Control With The “Quicker-Sticker” For Use In Lancaster County Tobacco. Contact Us For Prices • Seivmg The Fanner • Gardener & Home Owner Phone (717) 768-8451 Intercourse, Penna. 17543 CCT Bnmt MILKING FOB YOUR COVYS WITH KOOL Boumatic BUCKETS-PIPELINE-PARLORS. Let us tell you why Boumatic Milking is the best milking you can get. POSEY'S GARDEN CENTER Rear 49 N. Broad St. Lititz 626-2343 son will pny no tax on his first 51.750 of Income. responding decrease of interest be four tax tables. From the For those who have larcc in deferred compensation ar- least costly to the most costly. , ‘ , rangements. efforts to secure cap- these tables will be for (1) mar amounls of earned income, there j ta j g a i nSt anc j i ax shelters gen- rled Individuals filing joint re will be a maximum lax rate on „,, n |i v . .. , .. „ earned income. The maximum Cially> lu, ' n < < includln « -surviving rate is 60 r ! for 1971, and 50 r r Commencing in 1971 a new tax spouses"); (2) heads of house for 1972 and subsequent years rate schedule will apply to single (Continued on Page 27) The maximum rate will apply to that top segment of earned in come which otherwise individual tax rate of 70 r r It is anticipated that this provision will make the earning of ordinary income more popular and will remit In a cor- persons, At that time there will 11 Moneymaking Alfalfas • DuPuit • Haymor • Vernal • Northwest Common • Buffalo • Northwest Grimm • Ranger • Saranac • Cayuga • Iroquois • Narragansett 8 Moneymaking Clovers • Certified Pennscott • Yellow Blossom Sweet • Select Pennscott Clover 0 Penna. Medium Red 0 Mammoth • Midwest Medium Red 0 Alsike 0 White Blossom Sweet Clover Fresh seed mixed and Inoculated (FREE) NEW CERTIFIED CLINTFORD OATS Save with REIST'S' Seeds REIST SEED COMPANY Mount Joy, Pa. Ph. 653-4121 Finest Quality Seeds (Since 1925) We invite you to relax on the job and still get more done... ...aboard a John Deere 3020 or 4020 Tractor It’s like settling back in the barber’s chair—comfortable! This is the John Deere posture seat—cushioned luxury all the way up to the small of your back. A-h-h-h-h! This is the way to get things done: let the 70 h.p. “3020" or 94 h.p. “4020” do the work as you do the masterminding from your personally adjusted armchair in th« con veniently arranged operator’s compartment. Try it! M. S. Yearsley & Sons West Chester 696-2990 Landis Bros., Inc. Shotzberger's Lancaster 393-3906 Elm 665-2141 A. B. C. Groff, Inc. Wenger Implement, Inc. New Holland 354-4191 The Buck 2844141
Significant historical Pennsylvania newspapers