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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Jan 08, 1985
Page
8
A concise preview outlines key tax dates and actions from January to December 1985. It covers estimated payments deadlines, W-4 adjustments, IRA contributions, withholding methods for part-year work, marriage-related bracket changes, and year end tax maneuvers to optimize returns.
Forecasters expect a growing yet slower economy in 1985 with solid job gains and moderate inflation around 5 percent. Unemployment stays near 7 percent while the employment ratio rises beyond 60 percent, and wage increases run 6 to 7 percent in key industries. Credit remains ample, with disposable income up as much as 3.8 percent and autos and homes likely to slip in sales.
Government data show November factory orders up 4.3 percent to 193.8 billion dollars, the largest one month gain in 17 months, while new home sales drop 10.6 percent to 591,000, the steepest decline in nearly three years.
Detroit rumors place General Motors chairman Roger Smith eyeing an Electronic Data Systems acquisition to enter health care and challenge Blue Cross Blue Shield. GM deny plans but see EDS as a path to self insure salaried workers and cut costs amid rising health costs.
A groundbreaking ceremony for a new 40000 square foot medical center will be held Friday at 4 p.m. on University Parkway across from the USC Aiken campus with Sen Strom Thurmond set to attend.
Industry observers predict IBM will roll out its Sierra line with starting at 1.4 million and a 2 000 dollar portable. AT and Bell Labs will push into data processing with VAX machines, while Digital and Data General expect strong orders. Consolidation among big players and alliances with smaller firms are seen as Key drivers.
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