How The Farmer's Social Security Is Affected By Sale Of Livestock
A Kansas City district office article explains how sale of livestock may affect a farmer’s social security reporting and self employment tax. It covers capital gains exclusions, old age and survivors coverage eligibility, and guidance for reporting cattle sale proceeds and state payments for fence replacement. Farmers are advised to clip and refer to these notes when preparing tax and social security returns.
MENTIONED IN THIS ARTICLE
Kansas City
Kanaan
Social Security Administration
Armstrong Avenue
Kansas
Santa pattern from Ruth Wyeth Spears catalog
Jolly Santa pattern offers a cut out image with a full pack depicted. Pattern 354 requested with 25 cents, plus optional air mail postage. Addressed from Ottawa Herald Pattern Dept Bedford Hills New York.
MENTIONED IN THIS ARTICLE
Santa
Ottawa Herald Pattern Dept
Bedford Hills
New York
How Social Security treats farm asset sales
Farmers should understand that proceeds from selling breeding stock dairy cattle or other capital assets are capital gains or losses and generally not part of current farming income for social security. Land condemnation proceeds, fencing payments, and replacement purchases are also treated as capital in most cases and excluded from current profit. Tax guidance available via IRS Wichita and a new pamphlet from Social Security.
MENTIONED IN THIS ARTICLE
Social Security Administration
Internal Revenue Service
Wichita
Kansas
Bessie
Armstrong
Kansas City
Veteran News Man Charles F. Jones Dies in Arizona
Charles F. Jones, 77, a retired newspaperman, died at his Mesa home after a paralytic stroke. A native of Indiana, he spent his career in Kansas and Arizona, including Coffeyville Morning Record, Mesa Daily Free Press, Timesette, and Chanute Tribune. Funeral services set for tomorrow. he is survived by his widow Emma Turner Jonas and grandson Charles Harrall of Mesa.
MENTIONED IN THIS ARTICLE
Mesa, Ariz U
Charles F. Jones
Jones
Arizona
Kansas
Indiana
Montgomery County
Kas
Coffeyville
Morning Record
X-1A Reaches 90 000 Feet In Altitude Record Flight
The U S Air Forces Bell X 1A has climbed to an unofficial altitude of 90 000 feet, about 17 miles, marking a striking milestone in high altitude flight tests. The record underscores advances in rocket propulsion and aerospace experimentation conducted by military research programs.
MENTIONED IN THIS ARTICLE
U. S. Air Forces
Also Mentioned on This Page
Madison
Jewelers
Russell Stover
Star Grain & Lumber Co
4Th & Walnut
Ottawa
Kan
Richmond
John Deere
Ford
Ford Tractor
Black Hawk
P.t.a
McCormick-Deering
Bernard Sims
Col
Karl Bowes
Audt
Louisburg
Peoples National Bank of Richmond
Ruth Wyeth
Quin Furniture Store
Court House
QUINS
QUIN
D. Pelevis
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