PSU Magazine Winter 1987

Tax planning advice for 1987 From Peter Wakeman, PSU consultant and expert In charitable giving, taxation, estate planning and real estate. Last year we witnessed the most sweeping tax changes in recent memory, the Tax Reform Act of Peter Wateman 1986. Under the terms of the Act, 1987 was slated as a "tran– sitional" year with further changes to become effective on January 1, 1988. These changes present numerous tax-savings opportunities as we approach the end of 1987. Accelerate deductions The most important change is the reduction of the maximum tax rate from 38.5%to 28.0%. Because of this reduction, deductions are more valuable when taken this year at a higher rate. Charitable gifts This general rule also applies to the timing of charitable gifts. For those who itemize their other tax deductions, a charitable contribution can be more valuable if made before the reduc– tion in the tax rates. Example: PSU alumnus usually makes a $1,000 annual contri– bution in January for scholarships. By making a $1 ,000 gift in December, that alumnus may receive a $105 bonus in tax savings. Gifts of property Contrary to some popular beliefs, further tax savings can still be realized through gifts of appreciated property such as stocks, bonds, real estate and limited partnerships. Under the new law, the donor can claim a charitable contribution for the full fair market value of the property. In addition, no capital gains tax is due, even though the property has increased in value while owned by the donor. These are just a few tax savings opportunities that are avail– able under the new tax law. Portland State University can assist you and your advisors in evaluating these opportunities. We can also send you our free tax planning newsletter, "Ideas for Giving. " Please contact: Judith E. Nichols Vice President, Development (503) 464-4478 Portland State University Portland, OR 97207-0751 '75 Erick Dahlgren (BS) of th e Pon of St. Hele ns, O re., has been named by State Treasurer Tony Meeker to serve o n a Pon s Advisory Commit– tee, lo help counsel Meeker on state investment policies and actions affecting state-owned waters. Norman Eder (MA), director of external affairs and development at the O regon Graduate Center, Bea– verto n, O re., has been named to a new, 15-member Govem or's Science Council. The panel is charged with submitting to the governor its plan to achieve excellence in scie ntific research and technological in nova– tion in Oregon. Terence Erbele (BS) is the new pas– tor at the United Methodist Church in Hermisto n, Ore. He is the former minister of a similar church located in Kuna, Idaho near Boise, where he also coached soccer and participated on the church's city league softball team. Michael Lloyd (BS), staff photo– grapher for The Oregonian news– paper, Portla nd, placed second in the Metro Photo Page category for major regional newspapers com– peting in the recent 1987 Asso– ciated Press Northwest Photography Contest. Samuel "Rick" Partipilo (BS) is the new ma nager of e nvironmental health for Lin n County, Ore. He has been the supervising field san– itaria n for the county's e nviron– mental health program for five years. John E- Rosenberger (BS), Wash– ington County, O re.'s former land developme nt services division man– ager, h as bee n named deputy direc– tor of the county's Departme nt of · La nd Use and Transportation. Dr. Ulrich G. "Oly" Schockelt (BS) has bo ught a de ntal practice in Forest Grove, Ore. He has spent the last three and a half years working in a group dental practice in Port– la nd. '76 David Manley (MST) is the new principal and superintendent at Alpine Eleme ntary School near Corvallis, O re. He served as super– intende nt of the Crook County school district in Prineville, Ore. for the past three years. PSU MAGAZINE PAGE 11 '77 Delyn Kies (BS), solid waste director for the City of Portland's Bureau of Environme ntal Services, has been named the 1987 Recycler of the Year by the Association of Oregon Recyclers. She was instrumental in preparing a city residential recy– cling program that went into effect earlier this year. Clifford T. Krouse (BS), vice presi– dent of Electro Scientific Industries, Po rtland, has been named general ma nager of the firm's laser systems division. '78 Bill Layton (MS) has been named a counselor at T almad ge Middl e School in Monmouth, Ore. He has worked as a teacher, administrator, child development specialist and counselor during his 18 years as an Oregon educator. Richard H . Miller (MST) is the new principal at Reynolds High School in Troutdale, Ore. He is the former assistant to the principal at Cen– te nnial High School in East Mult– nomah County. '79 Jory Abrams (BS), a project engi– neer with CH2M-Hill, Portland, has been named preside nt-elect of the Oregon Section of the American Society of Civil Engineers. Mark Borquist ('78 BS) of Onsite Energy Inc., Portland, will serve as vice– president. '80 AudreyAllred (BS), Mike Bertolino ('84 BS) a nd Marsha Enright ('85 BS) have each been promoted to senio r accountants at the Portland office of Ernst & Whinney CPAs. Allred works in the firm's tax and privatelyowned/ emerging business department. Bertolino and Enright each work in the firm's audit department. David L. Hafner ('87 BS) recently joined Ernst & Whin– ney's audit department.