CPAs Clarify Tax Breaks for Retired Elderly Taxpayers
The Pennsylvania Institute of Certified Public Accountants outlines tax exemptions for Social Security and Railroad Retirement benefits. It notes that most other pension benefits are taxable, but low elderly incomes reduce tax rates. Each person over 65 gets a double personal exemption, up to $750 each, creating a $3,000 exemption for couples. With the low income allowance rising to $1,300, couples may have $4,300 above Social Security without tax. The CPAs advise contacting the IRS for forms for taxable pensions and suggest withholding to avoid a large year-end payment.
MENTIONED IN THIS ARTICLE
Pennsylvania Institute of Certified Public Accountants
Cpas
IRS
Cattle Numbers Down in State Report
The Pennsylvania Crop Reporting Service notes a January 1 cattle inventory of 87 000 head, 4 000 fewer than last year, with fewer cattle being fed and marketed. In Q4 1972, shipments to market fell by 5 000 from 1971. Marketing plans for early 1973 show further declines, while unrelated tax guidance references retirement income credit and dependent exemptions for elderly relatives. Ethnic outreach cited James Garfield campaigning in German and English for the presidency.
MENTIONED IN THIS ARTICLE
Commonwealth Farms
Pennsylvania Crop Reporting Service
James Garfield
U.S
Beattie Named To Head PSU College of Ag
Dr. James M. Beattie a national agricultural educator from Ohio is named dean of Penn State College of Agriculture and appointed director of the Agricultural Experiment Station and Cooperative Extension Service. He will assume duties by July 1 1973 at latest succeeding Dr. Larson who became Provost in 1972.
MENTIONED IN THIS ARTICLE
Beattie
PSU College of Ag
Ohio
College of Agriculture
Pennsylvania State University
Board of
Trustees
James M. Beattie
The
Ohio Agricultural Research and Development Center At
Wooster
Russell E. Larson
University
Paul M. Althouse
David R. McClay
Larson
Also Mentioned on This Page
CPA
CPA Institute
SLEOS
International Star Silo Association, Inc
Myerstown
DIAL
Weig
Gary Forney
John Forney
Lebanon RD No. 4
Lebanon
Gehman Feed Mill, Inc
Denver, Pa
Big
Diller Ave
New Holland
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