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B—Lancaster Farming, Saturday. Feb. 16,1974
No Reason To Fear Form 1040
(This is the second of a finish high school or obtain a
series of five articles on 1973 loan from a bank or sell a
Federal Income Tax returns house or take out a driver’s
prepared by the Penn* license consider themselves
sylvania Institute of Cer- unable to unravel the
tilled Public Accountants as mysteries of Federal Income
a public service.) Tax Form 1040. For most,
Many persons who have this belief is probably un
successfully managed to founded.
FUNK’S G-HYBRIDS...A NEW
Funk s G 4444 his made a high yield mark for others to shoot at
Using G 4444 Orville Montn pf LaSalle Michigan has har
vested more corn per acre than any man in history On September
21 1973 Montn harvested a new world record yield of 306 6
bushels per acre No 2 corn from 4 4 acres His documented yield
won him the title of National Champion in the 1973 FirnksG
Project 200 high yield corn growing program
Plant These Proven Hi
Yielding Funk’s G-Hybrids
For 1974
G'4567
G-4646
>. H. HOFFMM SUDS. K.
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»UNK •••OS
INTIHNAftONftI. INC
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INTERSTATE MILK
PRODUCERS COOPERATIVE
Announces regular dinner and business
meeting of members in all locals
of District No. 7.
HOSTETTERS DINING HALL, MT. JOY, PA.
FEBRUARY 28, 1974 AT NOON.
KEYNOTE SPEAKER
DR. JAMES E. HONAN,
Secretary and General Manager of
Interstate.
BU./ACRE!
LANDISVILLE, PA
cl
■y?.-;, UkU I
The secret is not to let
yourself be cowed by the
rows of numbered entries on
the 1040. Take them one at a
time and they are not so
threatening.
The person setting out to
square his annual account
with Internal Revenue Ser
vice should first get his in
come records together - W-2
withholding report? from
each employer he has
worked for during the year,
plus information from
banks, brokers, etc, on in
terest and dividend income
the taxpayer has received.
If you are going to itemize
deductions (and if you are
not you may be eligible to
use Form IMOA - the short
form) you will need can
celled checks, receipts and
other evidence of deductible
expenses: taxes and interest
paid, medical and dental
costs, charitable con
tributions, and unreim
bursed business expenses.
Next, you’ll need the ap
plicable tax forms - the 1040
plus the Schedules for
submitting various
categories of lists. The IRS
usually sends taxpayers the
same documents they used
the previous year, but if you
need new ones this year you
can pick them up at almost
any bank or post office, or
you can write to the nearest
IRS office.
One government docut
ment that’s indispensable is
the Instruction Booklet for
Form 1040. Among other
things it tells you what
documents you will have to
submit, and how to fill them
out.
Now, with all the needed
papers on hand, simply start
at the top of page one, with
your name and address,
occupation, etc. If you are
stopped by a question, con
sult the instruction booklet,
which lists 21 steps to be
taken in order, and
augments the guidance
included in the forms and
schedules themselves.
If your financial affairs
are too complex to permit
you to handle Form 1040 on
your own, that fact will soon
become apparent. Persons
likely to require professional
help in filing their tax
returns in most cases are
those whose affairs are
complicated by factors such
as:
Urge capital gains or
losses;
The selling of a home
during the year;
A large jump in income
over previous years that
may suggest income
averaging;
Self-employment, with
several sources of income;
A drastic change in
dependency relationships
during the year, as through
divorce.
But for most people such
complications are rare.
Millions of us obtain all or
most of our incomes in the
form of wages, salary or
commissions. Our incomes
and expenses are not
drastically different from
those we had last year. Our
family relationships have
not changed. For the
millions in this category -
people with at least high
school education - there’s no
reason in the world to be
afraid of Form 1040.
Cocoa producers are
asking for a 20 percent price
increase, seven percent of
which would reflect higher
production costs and 13
percent the devaluation of
the dollar.
HI
Ll
tr
GEARED
TOGO..
ALLIS-CHALMERS 7030 & 7050
The power trains m the new Allis
Chalmers 7030 and 7050 tractors havi
strength to take the torque and strain
power farming . season after sear
their right on throi
speed transmission and planetary fit
the 3.62-mch diameter rear axles, tht
measure up to the demands of big I
Each component like the planetary drive shown above—is rugged,
durable and reliable That's why you get a 24-month factory warranty
on the power tram components Compare that to the 12-month
warranty on many other tractors
See us now about a Measurably Better 130 horsepower* 703C)i or
156 horsepower* 7050-the tractors that are geared to go.
‘Maximum observed PTO horsepower at 2300 rpm
Nissley Farm Service
Washington Boro P a
Roy H. Such, Inc.
F.phrata R D 2
A BHM Farm Equipment, Inc.
Annville RD 1. Pa
We re gonna open your eyes!
ALLIS-CHALMERS
Funds Available to Improve
Rural Community Facilities
The Rural Development
Act of 1972 provides loan
funds in the amount *of
$2,315,000 for community
projects other than water,
sewer, solid waste, and
storm drainage systems,
according to Penrose
Hallowell, Pennsylvania
State Director of the Far
mers Home Administration,
U.S. Dept of Agriculture.
Funds may be used to
construct, enlarge, extend or
otherwise improve com
munity facilities providing
essential service to rural
residents. Some projects
that could be considered
would be fire houses and
equipment, traffic control,
township buildings, TV
cable, public community
buildings, medical service
centers and any other facil
5 *
Grumelli Farm Service
ity determined to be
necessary by residents of the
community.
Facilities financed by the
Farmers Home Ad>
ministration shall serve
rural residents living in
communities of up to 10,000
population. The interest
rates on the loans is 5 per*
cent, the terms are for 40
years. Applicants must be
legally organized to qualify
for an FHA loan. Pre
applications afe being
received by the local county
office.
Roy H. Glesmann, County
Supervisor of the Fanners
Home Administration for
Lancaster & Chester
Counties will be glad to
explain the Farmers Home
Administration program and
supply the required forms
for making pre-applications.
L. H. Brubaker
'Lancaster. Pa
Quarryville. Pa