Fanners Can Save Money on 1962-63
Tax Returns, Local Economist Savs
Now is the time to save mon
ey on your 1962 and 1963 tax
returns, according to James
Schubin, economist at the Al
aska Agricultural Experiment
Station. An important item to
consider this year is the effect
of farm machinery or equip
ment sales. If you are planning
to sell farm machinery or
business equipment soon, it
may be to your advantage to
sell before January 1, 1963.
Schubin explained that if you
sell before January 1 any gain
over the depreciated value of
the equipment is still reported
as a capital gain and is taxed
at a lower rate.
If, however, you sell machin
ery or equipment after January
1, 1963, any gain attributable ■
to depreciation allowed for
periods after December 31,
| HAPPY
HEW
YEAR
TO ALL
OF YOU
PALMER BAR
BOB & RUTH PETERSON
PALMER
• •
HAPPY
NEW YEAR
OUR TIMELESS
WISH TO YOU
AND YOURS!
ftlby
ffeaplaa Sian
RS4SM
196] must be reported as ordi
nary income and loses the tax
advantage of capital gains.
Schubin emphasized that if
you are planning to sell an item
of equipment soon on which
you are taking a large amount
of depreciation for 1962, it may
pay to sell before the new year
arrives. The farm economist
pointed out that this change
applies to businesses as well as
farms.
Schubin says right now is a
good time to check on your
1962 income. If you are opera
ting on the “cash method” you
can often save income taxes by
correctly timing certain sales
or t h e payment of operating
expenses. For example, if your
estimated income for 1962 is
considerably higher than aver
age you may want to hold up
additional sales until after
January 1 and pay as many
operating expenses as possible
before December 31. You can
buy needed repairs, fence
posts, feed, seed, fertilizer etc.
now to be used in 1963. But be
sure advance payments for
farm production supplies, to be
delivered in 1963, are part of a
firm contract. If your income
will be lower than average for
this year you may want to do
the opposite, that is accelerate !
sales and perhaps charge more I
Aliens Report
In January
Keifer L. Gray, District Di
rector at Anchorage, of the
I’nited States Immigration and
Naturalization Service has sta
ted that the period within
which aliens must report their
addresses is almost at hand.
The month of January has
been set for the address re
porting period. All aliens in
the United States, with few
exceptions, must report their
addresses to the Government
during that period.
Mr. Gray said that forms
with which to make the re
port will be available to all
post offices and offices of the
Immigration and Naturaliza
tion Service during the month
of January.
Mr. Gray urges all aliens to
comply with the reporting re
quirements, as willful failure
to do so may lead to serious
consequences.
farm expenses and pay them
next year.
Schubin summarized by say
ing that you will pay less
taxes on more income if you
can keep your income from
fluctuating from year to year.
Farmers needing tax assist
ance should contact their ex
tension agent or Experiment
Station economists.
THE WASILLA ROADHOUSE
BILL and GRACE ELKINS
“OK 2 FIX TAKE
IT FROM HERBS"
It's a bouncing New Year, full of
bright new promises! We hope it live#
up to all your fondest expectations!
EVAN JOKES COAL COMPHR
ntooucam of aiaskai rmm com
SUTTON
Sunshine Bridge Job
Advertised This Week
Highways Commissioner D.
A. McKinnon announced Dec.
19 that advertising for bids be
gan this week on two major
highway and bridge projects
expected to cost nearly $5 mill
ion dollars.
One of the projects, a 5.7
mile job between Sunshine and
the west bank of the Susitna
River, includes a 1,050-foot
continuous steel girder bridge
over the Susitna River — the
longest of its type in Alaska.
The bridge will span a wide
portion of the river, which, al
though not in the same cate
gory as the “Mighty Yukon,”
has a drainage area above the
bridge site of some 11,000
square miles producing cur
rents of more than eight miles
an hour. This project is an
other in a series that will even
tually link Anchorage to Mt.
McKinley National Park thru
the Susitna and Chulitna Riv
er valleys.
High-strength low alloy
I structural steel is specified for
the stringers and floor trusses,
j as well as the main girders.
Approximately 1,300,000 lbs.
i of steel will be required as well
: as 150,000 pounds of the more
j conventional structural steel.
It will feature a 30-foot road
way with standard 3-feet rail
ings allowing travelers an open
view of the scenic wilderness
valley.
Bids will be opened on this
project February 7 at the Is
land Center Building, Douglas.
Another project on which
advertising will begin next
Monday is a 20-mile section of
the Chena Hot Springs Road
north of Fairbanks. It includes
grading, drainage and the
placement of bituminous sur
face treatment and construc
tion of two steel girder bridges
over the Little Chena River
and Jenny M. Creek. Bids on
this project will be opened
January 24.
Lack of Statutes
A "major roadblock" to
government, labor and busi
ness cooperation in achieving
proper economic growth and
creating jobs is "lack of ap
propriate statutes to fairly
limit labor union power," in
the view of Ladd Plumley,
President of the Chamber of
Commerce of the U. S.
i* ■■■ ••
IT’S A BRIGHT,
SHINY NEW YEAR
As we welcome the arrival of 1963,
we would like to extend our very
best wishes of the season to our many
good friends and their families.
WASILLA
COCKTAIL LOUNGE & LIQUOR STORE
JOHN and JEAN POLIS
:T*
THE BELLS RING
OUT OUR WARMEST WISHES
FOR A VERY HAPPY NEW YEAR
■AC’s nmm « mam
ii
ACCIDENT PRONE
Statistics prove that the mo
torist who puts too much
guesswork in his driving will
eventually never have another
guess coming.
The Frontiersman — Page It
Thursday, December 27, 1962
Shoshone Falls on Idaho’s
Snake River ranks as the 20th
highest in continental US.
\\l//
WOODS’ INSURANCE AGENCY
PI 5-3300 PALMER
HERE'S HOPING YOU HAVE
A BANG-UP TIME IX ’03
THE CARLSON FAMILY
WASILLA COLD STORAGE
and
MEAT MARKET
DAY SPELL J-O-I!
PALMER TRARSFER
C«rl «w» UMi Mtefen