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New Braunfels Herald Zeitung: Wednesday, September 23, 1987 - Page 6

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   New Braunfels Herald-Zeitung (Newspaper) - September 23, 1987, New Braunfels, Texas                                Commerce Industry Haw Tarn September That thon Jacob with btwd In top atandt In hla dapartmant atora on San Antonio In about Nota tha ruga hanging from tha wa a and tha wood and glaaa dlapiay caaaa that would warm tha haart of any antlqua Jack Maiott la tha manager in 1987 and tha atoraa offlcaa afford a claar vlaw of tha floor from tha Ion plcturad In tha Jacob Schmidt la now ownad by which laaaaa tha apace from tha Schmidt Tha atora calabratad mora than 80 yaara In business with a aala last This ia Texas Business Today Whatever happened to oldtime standards Trustees faced with additional burdens By MARY SCOTT NAtEftS Ttnai Ematoymtnt Commission DMT ConunlttloMr Naten I am writing to let you know just what I think of the whole lousy 1 recently discharged an employee for poor He promptly filed claim for unemployment and the TEC decided to pay htm because he could not meet my I believe they called it Inability I am not appealing this case because I refute to waste any more of my It It clear that the TEC in tends to reward mediocrity and penalize employers who required a standard of I shudder to think what standards of performance the TEC expects from Its Wichita Falls Dear 1 understand your but by deciding not to ap peal this case you are making an unreasonable business Most claims or benefits are There Is at least one dissatisfied party In every contested That is why the law provides tor an appeal If you choose not to avail yourself of the rights guaranteed you under the I can not help I urge you to reconsider Remember that the law provides for nonpayment of benefits when misconduct connected with the work Is is not misconduct because It Is beyond the employees If you testified only that your exemployee never satisfied your expectations we would probably rule that the Inability was beyond his control On the other hand not following Instruc not acting In the employers best are all examples of misconduct if would disqualify a perron applying for benefits Dear Commissioner Naben Is a prospective employer required to tell an applicant why he is not I was hired ns a school bus drive by one took three driver train ing and paid for physical with my own Thei another man I dont know If he is o is not a higher level of authority toll me 1 was not hired because he hai decided It was In the best interest o the school I asked him wha was the and he told me tha he did not have to tell What recourse can 1 take to reimbursed for the expense of rnj physical which I took In good faltl since 1 had been told that I had tin and to find out what the mai thinks Is wrong with me that wouh be bad to hire me Kl Dear An employer Is no always obligated to tell an appllcan for employment why he was no If you believe tin school systems refusal to hire yen was because of your sex national origin or religion you shouk contact your nearest Kqual Kmploy ment Opportunity Commission any office to see what recourse may In available to you It is not clear mm your letta whether you were never hired 01 were fired after a few days If yH received any compensation for days you were in thet you were indeed employed as fai as unemployment compensation law Is concerned and you may qualify foi unemployment benefits You sliouk go by your local TEC office If you an still unemployetl 1 cannot advise you concenunf reimbursement or your physical animation Check your phone book U sw if you have any low cost legal ser vice agencies in your area represents employers thrviifihout have am questions write Comtnis sioncr at Texas Business Tit Texas Employment Com mission 15th and T c v s 8 7 T H ByJBjFFALtRICHT Sol Schwarti a Associates The Tax Reform Act of 1986 made several major changes In trust taxa tion that will require the close atten tion of trustees In Among them are the requirements that all trusts adopt a calendar year for income tax reporting purposes and that they make estimated tax These relatively simply changes have serious consequences and should be reviewed carefully by at and beneficiaries Perhaps most significant is the change requiring all even those in existence prior to the enact ment of the use a calendar year to report In the trusts were allowed to use a fiscal year which provided the opportunity to defer the payment of tax on income distributed to a beneficiary by as many as eleven The conversion to a calendar year will require fiscalyear trusts to file two returns this one for the fiscal year ended in 1W7 and the se cond for the short period ended Since this may result in more than 12 months of trust income being reported on the beneficiarys 1M7 individual Income tax Congress has provided relief by re quiring income distributed in the short year to be reported by beneficiaries ratably over a four year This is not an elective provision as U is for partnerships and S corporations It is important to note this four year spread is required only on in come distributed by the All short period income retained by the trust is taxed in The election which allows a trust to treat distributions made within 65 days after yearend as made in the prior year has been all trustees should review tax position of their trusts and laries before March m to if distributions should be i ta take advantage of the four ing at least 90 percent of the tax due on the return to avoid underpayment A penalty calculated cur rently at a 9 percent rate compound ed daily would be due on any under This provision requires trustees to closely monitor current year income so that appropriate estimated payments are Alternative methods have been provided to this Alternative one allows a trust to pay tax shown on the prior years return ratably over the requirement and is the simplest and surest method of avoiding underpayment it may not be appropriate if current year income is significant ly lower than the previous This alternative would produce an over payment of taxes which is a loss of earnings since the IRS does not pay interest on this Alternative Two allows a trust to determine tax on income earned each thus allowing unequal estimated This would be appropriate for trusts that earn a majority of their income toward Complex those that tradi tionally retain some or all of their in may currently need to make estimated payments to avoid Simple those that distribute all may also need to make them if they realize capital gain type which is tradi tionally taxed at the trust Income tax rates for trusts and estates have been reduced effective in and the rates have been nar The touch of grey in this silver lining is that the use of trusts to shift income from highbracket tax payers to lowbracket trust can pro duct no more than a An important technical correction to originally passed in 1984 was also included with the Tax Reform Act of The election available to tnists to recognize gain on the distribution of appreciated property has been re but It must now be applied to all property distributed In that year There had been some question as to whether the election could be applied on a propertybyproperty basis DO YOU HAVE FALL HAY FEVER SYMPTOMS If we need volunteers to partici pate in an approved clinical study for a once a Participants must be between the ages of 18 and and will be For more information call Frank Allergy Immunology NOTICE Covers duties TEXAS NOTARY PUBLIC ASSOCIATION TNPA announces a course for Texas those1 who employ and those wishing to become fees and new Date Time Oct 1st U87 l oo IM Place New Braunfcls Civic Center Room A Call Mail check or money order to P Box TX7K755OSfo NonMember tuition S45 each TNPA Member each All reservations lo be received bs Sept NEW LAW IN EFFECT ComFund 87 70S Landa 6257612 is and you can make the difference by giving your fair share when he campaign reaches your home or office Thanks to things just get better Tte raejulraoMnt that tniata maka tax paymaato ia affective higajflnj altar rulaa to atructurad ataailar to dividual itajulraaMBti that BBBB ia ataca tot iBvaaua Natfea trtt has baaa by tha latanul Ravaaua Sarvfea to pravtda ia tail aayaciaUy for uaiqui aituattaa raauttiaf from iwyjlrad yeartad rhiiuji for paymaota mint hava haaa aaU ia ia to tour aqual ia ahaityaar natural hava In Recognition of THE CONAL COUNTY FAIRi These Financial Institutions will observe the following hours on 25 National Bank Close 12 Noon Federal Savings Loan Main Lobby Closed Drive hours Antonio Savings Loan Close 12 Noon leaje arrange your banking needs accordingly Card df Thanks would like to thank all the people who made my retirement so special and also for their concern during my recuperation from my recent coronary To the members of the New Braunfels Mens Garden Club for their super to the Comal County Program Building Committee for the Open the 4H Club members who brought refreshments to the Retirement Open ouse to the Extension Homemakers Clubs for their thoughful gifts and cards to the South Texas Christmas Tree Growers to the staffs of the ASCS and SCS to the New Braunfels Council of Garden Clubs to all the people who took their time to visit to write letters and kind and for their gifts to the Commissioners Court for the Resolution and for naming August as Bill Schumann Day to State Representative Edmund Keumpel for his Certificate and a very bi thank you to the entire Extension Service office staff and most especially to my Julia To all the people who took time to visit me in the hospitals and those who called and for all the beautiful flowers and cards that were sent to me to Bobby Jordan Tucker and Ronny Johnson for their concern and when 1 was taken To ft Jordan Tucker and Kenneth Gullett for keeping the Homestead To John Eucharistic who brought Holy Communion to me Jin the 1 express my deepest appreciation To all my devoted I can only your kind generosity has totally overwhelmed My family and I are most indebted to you and will always remember your generosity and W L BUI 1   

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