Masonry Magazine February 1972 Page. 25
Taxes
(Continued from page 15)
1971 NET COST OF GIVING TO CHARITY
The net cost of charitable contributions varies from individual to individual. This is so because the amount that a person deducts for charity, if not so deducted, would be taxed, obviously, at the highest rate applicable to that individual. It follows that the higher the tax bracket, the less the contribution costs. Of course, it is the charitable recipient that is the main beneficiary of this sort of "discount" on a contribution. But this would certainly be in keeping with a tapayer's charitable intention and with the government's desire that such contributions be made.
The following figures were prepared by CCH and show the net cost in 1971 per $100 of contributions made by individuals in various income tax brackets:
TAXABLE INCOME
UNMARRIED JOINT
Over
Not Over
PERSON
RETURN
$ 8,000
$10,000
$75
$78
12,000
14,000
71
75
16,000
18,000
66
72
20,000
22,000
62
68
24,000
26,000
60
64
40,000
44,000
45
52
50,000
52,000
38
50
OLD PROPERTY
Where an owner renovated an apartment building in order to keep it free of city code violations, the Tax Court ruled that he could deduct these costs as business expenses. But costs incurred to place the building in an efficient operating condition were capital expenditures and not deductible. The Court also ruled that the building owner could not reduce the depreciable life of this apartment building from 8 to 4 years due to general neighborhood deterioration, irresponsible tenants, and vandalism. (Sims, Jr. v. Commissioner, T.C. Memo 1971-303.)
3 More Cities Begin Funding IMI
Pennsylvania's City of Brotherly Love, the "Big D" of Texas, and Ohio's largest city are the latest major cities where BM&PIU Locals and mason contractors have successfully negotiated for support of the International Masonry Institute.
In the Lone Star State, where Dallas, Houston and Ft. Worth were running neck-and-neck to become the first big city in the state to negotiate for IMI, Dallas was first to complete negotiations. Among those active in negotiating the "Big D" agreement were Dee Brown, of Dee Brown Masonry, Inc., president of the MCAA Dallas Chapter and chairman of the Negotiation Committee for the North Texas Contractors Association, and Bill Jarrard, chairman of the Negotiation Committee for BM&PIU Local 5.
Butler, Pa. was the first Pennsylvania city to fund IMI last year, but Philadelphia's agreement is impressive from the standpoint of the geographic area involved. It covers the Delaware Valley including Local 1 in Philadelphia, 54 in Norristown, Pa., 7 in Camden, N.J., and 47 in Mt. Holly, N.J. Providing leadership in bringing about IMI support were John Doyle, BM&PIU deputy, and officers of the four Locals (see picture) and officers of the Employing Bricklayers Association: Richard Aronson, president; Anthony Nolfi, vice president: Thomas Costello, secretary-treasurer, and Daniel J. Hanlon, Jr., executive secretary. Funds are being channeled through the Bricklayers Benefit Plans whose administrator is Patrick M. O'Hara.
In Cleveland, IMI support was developed by the Bricklayers Joint Arbitration Board and members of the Executive Board of BM&PIU Local 5, with the leadership of its chairman, Robert Downing, and the Mason Contractors Association of Cleveland with president W. S. (Stan) West and executive secretary Robert F. Dalton. In addition to the le an hour for IMI, Cleveland agreed upon 44 per hour for local masonry promotion. It will be done through establishment of a new organization called the Cleveland Masonry Institute.
The Delaware Valley's first check to IMI, representing a major contribution to masonry promotion, brings smiles of accomplishment to (L-R): Harold Reynolds, business agent, Bricklayers Union Local No. 47, Mt. Holly, N.J.; Rudolph Hagan, business agent, Bricklayers Union Local No. 1 of Pennsylvania; John Doyle, international union deputy, Bricklayers, Masons and Plasterers International Union of America; Joseph Di Renzo, business agent, Bricklayers Union Local No. 7. Camden, N.J., and Richard Lipscomb, president, Bricklayers Union Local No. 1 of Pennsylvania. Not present for the presentation were Francis Orr, business agent, Bricklayers Union Local No. 54 of Norristown, Pa., and Daniel J. Hanlon, Jr., executive secretary, Employing Bricklayers Association.
Masonry union and contractor leaders wanting information, material, or help in establishing IMI support should contact: Neal English, Executive Director, IMI, 823 Fifteenth St., N.W., Washington, D.C. 20005, telephone (202) 783-3908.
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