Newspaper Page Text
Many not having enough
U.S. taxes withheld
ATLANTA—Many wage
earners are not having enough
Federal Income Tax withheld
from their pay checks and may
wild up owing the government
a large amount of tax when they
file their 1971 return.
John W. Henderson, Acting
District Director of the Internal
Revenue Service for Georgia,
stated that as a result of a new
law changing the withholding
system it is possible that this
potential problem may affect
many taxpayers.
Mr. Henderson explained that
taxpayers most likely to need
2 DAYS
Wed. & Thurs. Only.
Barbara Stresand
Omar Sherif
"FUNNY GIRL”
The most requested picture
in
History-nightly 6-9 pm
A special gift to all Junior High and High school Students.
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CINEMA
A JUNIOR COLLEGE WILL REMOVE
THE DOUBT FOR HIGHER EDUCATION
FOR MANY OF OUR YOUNG PEOPLEI
VOTE 0 YES
TUESDAY- JUNE Bth
Paid For By Junior College Committee
JUNIOR COLLEGE?
DON’T TAKE THIS FOR GRANTED
GET TO THE POLLS AND
VOTE
AND VOTE 0 YES
TUESDAY, JUNE Bth
For Free Ride To Polls Call 227-3264
Paid Adv. By Junior College Committee
extra withholding are those who
expect to earn more than $11,500
in 1971 and intend to claim
standard deductions or itemize
deductions totaling, less than 13
percent of their salaries.
Single employees who expect
to earn $15,000 or more in 1971
and married couples who ex
pect to earn $25,000 or more and
whose spouses are not em
ployed would also be affected as
would all working couples.
Mr. Henderson said that wage
earners who are not reasonably
sure that enough tax is being
withheld should estimate the
amount to be withheld during
1971 from the tax tables IRS has
furnished their employers and
compare the estimate with the
amounts of tax liability ex
pected for 1971.
If more withholding is
necessary, the taxpayer should
file a new exemption certificate
(Form W-4) with his employer
and claim fewer exemptions, or
ask to have specific additional
dollar amounts withheld.
| I■' ; wPW I Blnr v
IF
DAN NANG, S. VIETNAM—The concern of a mother for her
child is mirrored in the face of this South Vietnamese as a
caravan making a pilgrimage came under attack by North
Vietnamese in Quang Nam Province, 25 miles south of here.
(DPI)
PERSONAL FINANCE
i?A
Don't Let 'The Closing' Throw You
Buying a house can be a
pretty emotional experience,
perhaps even a little more
than you bargained for.
There’s the instant infatu
ation with the home of your
dreams, the nagging fear
that you may lose it to an
other buyer, and the devel
oping glow as the day of ac
tual ownership approaches.
But that glow is often
damped by doubts about that
very moment when title
passes from seller to buyer.
There are almost as many
horror stories about “the
closing,” as it’s known, as
there once were about child
birth.
This fear of the closing is
compounded mostly from ex
aggerated truth. In some
areas, the buyer does have
to write a lot of checks, there
are a lot of papers to sign
and there may be a room full
of people he has never seen
before (and will likely never
see again).
But there need be little
mystery about it, since it fol
lows a precise pattern that
in its essentials varies little
from state to state. Here is
an explanation of the usual
items for which fees must be
paid at the closing:
Processing Fees — These
are fees you pay to the man
who is lending you the
mortgage money. They are
to reimburse him for all
kinds of things from paper
work to outside charges.
Don’t be surprised if they
equal one per cent of the
mortgage amount.
Other Lending Charges —
The lender may also charge
you for the cost of a credit
investigation, the fee for his
By RICHARD PUTNAM PRATT
attorney and a fee for ap
praising the property. Under
some circumstances he may
drop the appraisal fee, but
on FHA and VA loans such
an appraisal is required, and
someone must pay for it.
Title Insurance— You pay
this amount to a title insurer
who guarantees that the man
who is selling you the proper
ty really owns it. The insurer
tries to make sure of this by
searching all records, but if
it turns out he is wrong, he
will fight all suits and pay up
if you lose.
Be forewarned. There are
two such policies. One is
called a mortgage policy and
covers the property for only
the amount of the mortgage.
If anything goes wrong, the
Save yourself from spending
too much money by spending
some time here.
'''Chevelle
c ~ Chevrolet s Summer Sale
on all Chevelles and Camaios. •
Chevrolet’s Summer Sale ends the end of June. It’s a
sale on every model of our mid-size Chevelle and sports-size
Camaro.
It’s a simple sale to help you save money.
Simply order your Chevelle or Camaro with four features
we think you’d want anyhow.
They are white stripe tires, the deluxe seat belts, a set of
Impala. The big family car
a family man can afford.
Impala delivers you and your family more standard equipment than
any other car at its price.
Turbo Hydra-matic transmission with any V 8 and power steering
are now standard. And that’s not all.
It has built-in power front disc brakes, a built-in power ventilation
system, a built-in double-panel roof that’s stronger and does a better job
of absorbing sound.
It has built-in side-guard door beams, built-in steel cargo guard in
the trunk and more built-in room than any other car in its field (so says
Automotive Industries magazine).
Not only is Impala traditionally America’s No. 1 seller, it’s
traditionally high in holding its resale value.
See the U.S.A, in comfort, and at reasonable prices.
Now, have a great summer. JEggEW
Cousin ain’t budging
ATLANTA (UPI)-The cousin ?f
Margaret Mitchell, author of Gone With
The Wind, says she “ain’t” moving even
though an interstate highway is coming
through.
“Ain’t no man strong enough, no
machine big enough and no highway
important enough” to move her, Margaret
Mitchell Dodd said.
“And I mean it. I’ve been here 42 years
this summer and I’m not budging.”
Mrs. Dodd won’t tell her age. She says
she stopped counting years ago. She says
author Margaret Mitchell was her cousin
and that they were both named after an
aunt
“They told me about two years ago it
was coming,” she said. “I simply could not
believe it. I never thought I’d have to move
out of here in my life. My husband and I
built this house in 1929. I drew the plans.
“We built it real well so it would be here
when we’d be taken out in a hearse. He’s
gone now but I’m still the hell raiser of the
valley and I’m not about to move an inch.
“I’m just sticking to my guns day to day.
They told me last year I’d have to be out by
lender gets his money back,
but you are left holding the
rest of the bag. For an extra
fee. you can get an owner’s
policy that provides similar
protection for you.
Taxes—The usual arrange
ment is for you and the man
selling the property to divide
the year’s taxes, with each
paying a share based on the
number of days he is the
legal owner. If taxes are pre
paid, this means you will
have to reimburse him for
what he has laid out in your
behalf.
Lot Survey—You may be
required to pay for a survey
of the property. This will
prove that the lot lies where
the documents say it does,
and that all buildings on it
September. I stayed. Then they came
around saying I’d have to be out by
February. Well, you can see who’s still
here.”
Mrs. Dodd lives at the end of two blocks
of empty houses. “Demolition by... “signs
are stuck in the front yards of most of the
houses. “Government property” signs are
on the front doors.
“They came around trying to appraise it
but I wouldn’t let them in. So one time I
saw a man out in the front yard and he said
they’d appraised it. I said, ‘How could
you? You haven’t been inside. You don’t
know whether I’ve got diamond doorknobs
and gold doors.’
“He said they stood outside and
appraised. They’re offering me $25,000.
Now God knows how many junky frame
houses you can find for $25,000. They’ve
got two bedrooms and one bath and a clap
of thunder makes them shiver.
“Well, I’ve got four bathrooms and
seven rooms just on my first floor. I could
never live comparably on the money they
want to give me. Besides that, I don’t want
to sell for $100,000.”
conform to the setback re
quirements.
Hazard Insurance — Once
you own the new place, you
will want to insure it against
fire and other hazards. Just
to be on the safe side, the
lender is going to want evi
dence that this little matter
has been taken care of.
Your Own Lawyer — Us
ually your lawyer will wait
until the sale is completed
before he will render his bill.
This is just understatement,
however, and he will be
happy to get his fee at the
closing, too, if you like.
(NEWSPAPER ENTERPRISE ASSN.)
wheel covers and an AM/FM radio or any stereo equipment. r=====
(Stereo available only on Chevelle.)
By buying the package, you start summer by getting a gH mH
great deal on America’s most popular mid-size car or the one g Uig
the readers of Car and Driver magazine picked as 1971’s Best HHHMH
Sporty Car—the Camaro. Which, you’ve got to admit, isn’t ].»«<» ncmtro
a half bad start. .
Nova. Mechanics say it has the
’’least mechanical problems?
Or how about a Nova? You know, a lot of people talk about
how trouble-free and economical their cars are. But Motor Service and
Service Station Management magazines asked garage owners and mechanics
what they thought—which ones really have the least mechanical problems
and are easiest to maintain.
Nova came out on top, right at the very top.
Nova is small enough to fit neatly into garages and tight parking
spaces. Big enough to seat five in the coupe, six in the sedan.
It’s economical in city driving; yet hefty enough, with standard Six
or V 8 engine, to give you a solid ride on any highway.
Remember, buckling your seat and shoulder belts is an idea you can live with.
Griffin Daily New-
Man cut during house robbery
Griffin Police investigated a
robbery over the weekend.
Frank Knox, of 838 Scales
street, was treated at the
Griffin-Spalding Hospital for
cuts about the shoulder. He told
the officers that someone came
into his home around midnight
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7
Monday, June 7, 1971
Gordon makes
summer plans
Gordon Military High School
will offer a seven weeks’ non
military summer session
beginning Monday, June 14.
Holidays will include July 2-5.
The maximum amount of
credit that may be earned
during this summer session will
be one and one-half units, which
may be new or make-up work.
Accelerated students are in
vited to obtain extra course
credit for enrichment.
Courses which will be offered
from 8:00 - 12:00 for one unit of
credit will be English I, 11, HI,
TV, Algebra I, Geometry, and
U.S. History. If a sufficient
number of students request a
particular course, the course
will be offered.
Government and Psychology,
which will be offered from 1:00 -
3:00, will be for one-half unit.
For further information,
interested parents and students
are advised to contact the Dean
of Admissions.
and robbed him and his aunt,
Mrs. Lizzie Sheffield, of some
$lO4. He said he was cut during
a scuffle.
He said they did not see the
robbers as no lights were on and
that his aunt ran out the front
door.