European Stars And Stripes (Newspaper) - March 13, 1988, Darmstadt, Hesse                                Page 18 the stars and stripes business news . Kominicki the British Pound s Romp against the Dollar and he West German Mark continued id be the Center of attention on International Exchange markets in the Nast week spurred on by com ments by prime minister Margaret Thatcher thai i Here was no Way the Bank of England could Buck the  the Pound refined some of its ground Fri Day after profit taking dropped it to the si.84level thursday. Several London traders were discounting conflicting remarks made in the Oast week by Nigel Lawson the Chancellor of the exchequer thai the Pound s recent gain in strength was usus  unless there s a Cut in interest rates the Pound should  fairly Strong one trader said both mrs. Thatcher and or. Lawson say controlling inflation remains the no. I item on their economic Agenda so i Don t set much Chance of a drop in interest rates to rein in  of her British traders however believe a cutin interest Rales could be in the works once the new British budget is unveiled tuesday either Way look for the Pound to head to around si.87 and 3.10 German Marks in the coming week one trader predicted much higher than thai though and i think Well see the Central Bank coming Back in to slow thing Down also contributing to the Pound s Rise were comments made wednesday by . Treasury Secretary James Baker Iii that Sterling s gains did not violate the de Ember agreement or in croup of seven Industrial nations to seek stable Exchange rates. The Dollar loss 3 pfennig a Germany in in last week mostly As a reaction to the greenbacks performance in England traders said outside of thai the news Here is no news a Frankfurt economist said noting that Trie mar Ket has resumed to wailing Tor the release of the monthly . Trade figures due out next thurs Day. Predictions on the it Cal set of figures Mea Suring the american current account performance in the month of january varied  some traders were suggesting a dip to around $10 billion most believe the figures will reflect a shortfall of Between $12.5 and s14 Bil lion. Not Good but better a German trader  inc figures come in Ai around ji2.j billion i think you Tan expert some Small improvement perhaps Back to around .6s  a report released by the comm cry Bank in Frankfurt last week painted a grim picture for Large segments of German Industry for the res of the year thanks largely to the weaker Dollar. While personal goods were expected to continue to do Well because of increased consumer spending in Germany steel manufacturing mechanical engineering and the Auto Industry All would suffer the Bank predicted in its first of six economic reports for 1988. Auto sales were expected to drop by at least s percent Overall this year Wilh the performance of individual automakers in Germany depend ing "10 quite a considerable degree on How Exchange Rales move in relation to one  the drop in automotive Sain however would be offset to some it Cal by the Strong showing  vehicles and heavy Rucks which would show resilience despite the Eicha Gerale Handicap Accord ing to the report. German St to. Which has suffered from the increased use of aluminium and plastics and by quota restrictions put in place by the common Market will Likely dip 3 percent for a second consecutive year the Bank predicted. In other trading inc Greenback Rose slightly against the French and Swiss Franu in the last week and dosed marginally lower against Ihen Lanoe yen. Military Community May find new tax Laws very taxing by Deedee Ahr Jungton Dok staff to Lorr ka1serslautern insiders who Leal regularly Hli to mailers predict Hist tax season l�88 May be in luckier than Many years past for a sizable segment of the military Community. Take for example the two lieutenant colonels mar ried to each other who saw their annual talks jump from 512,000 to 122,000. Or the civilian who la nay si6,000 this year instead of the si0,000 he paid Las year Lilac it ill on the Tan Reform act of 1986. The great majority of people we re seeing Are pay ing More than they have in the past said Jerry Shiles an attorney with the 21st support come in Kaiser Lau Lem. And Shiles said his contacts at the internal Rev Enue service and other attorney involved in tax preparation in oct the Overall effect. To be that the government s going to be gelling More axes his year rather than less As we were led to  changes to 1987 filing requirements that could increase the to Bill of american overseas include moving expenses. They now must be itemized instead of subtracted As an adjustment to income. Deduction for two income families. Eliminated.  business expenses. Now must be itemized instead of subtracted from income. Also Only 80 percent of the Cost of business related in rim Bursi d meals May be deducted. Children. Those under 14 years who earn More than is 000 of investment income including such unearned income As dividends or interest will be taxed a their parents adjusted lax Rale. If tie Chim can be claimed As a dependent by his or her parents the child cannot also claim an exemption for himself on his own Lai form. It s hard to do a comparison Between this year and last year because. We be changed the system said Marcia Shelton taxpayer service specialist with the internal Revenue service s Bonn office. To itemize business or moving a pcs stale and local taxes except for sales taxes and Oiler allowed deductions taxpayers must have expenses that Tola More than the Standard deduction allowed under the new system. For married couples under 65 Yean tiling jointly thai Standard deduction is 13,760. For singles or Heads of households under age 65, the Standard deduction ii$2,540. The irs expects approximately 3 million Ameri cans to file lax returns from abroad this year. Those americans primarily at concentrated in West Germany 600,000 Canada 360,000 the United kingdom Ireland 270,000 Mexico 270,000 Japan 110,000 the Philip Pine 100,000italy, 95,000 Israel 80,000 Spain 50,000 South Korea 75,000 Australia 70,000. Approximately 60 percent of us. I Vizcai who live abroad Aren t on the lax Roll according to general accounting office report presented to cod Gran Las year. The vanishing act done by Many of the above the Tine deductions on 1987 tax returns ii expected in leave Many  with few if any adjust ments Shiles said. The loopholes unfortunately Ihil they Coni Reu chose o close were those that people in toe  Best take advantage of he Rod. It s an unfortunate fact of life thai it s easy Logette if tile Guy with on Trou hey Tonani  these changes coupled with other new Tim in . Tax Laws and command encouragement to Fecit free lax help Are adding up to a Banner year for the tax advisers. At he 21st support come for instance shills expects As Many u 20,000 people roughly twice the 7,000 to 10,000 people who thought help last year to ask for assistance thus year. In addition there is a variety of free tax help Avail Able to id card holders ranging from volunteers to top Legal personnel at base Leaf Annance and Community service offices. A attorney Jerry Sutea Manning inc first line of defense to those seeking help ire the unit Tai advisers volunteers like staff sgt Tammie Zuccaro of the 66ili consolidated Airm flirt so at Sembarti a. This is Zuccaro s first year a an official Volunteer but since 1979. The air Force maintenance management specialist has informally sharpened her Pencil on lax returns for friends and others. I think Tot of people Are afraid when it comes to doing their own tas Succuro said. I love it. La s Good Banting experience for  since receiving 1 is provided training in Early Jan uary Zuccaro has prepared about 25 returns As a unit Tai adviser but answered questions for roughly 50 peo ple. She said people this Yew ire a link upset they can t Lake As Many  typically Zuccaro added service personnel also re sent not being Able to Tike advantage of earned income credit lax Relief available to those earning leu than s 1 5,542 annually if their principal Home for the year Wai it the United states. These people get a Little upset because it s like i did t ask to come Over Here " the said. If unit us Worun Len in the army and air Force can t answer i question they Lake it to a More knowledgeable authority paralegal aide or i staff attorney depending of the Usu experts however Praise the Volunteer corps we be got a real talented Pool out there Shila  Yean ago unit us at franc were Cali no in with question like ii this Inte Reu or ii it dividend now the question Are much More Soobit Kaled Bui even Ibe Mott  us adv in won t be Able to help with 1 987 tax problem unless advice is sought Wuhan the Neit month. Despite considerable Media coverage of effects of the 19b6 tax act Many remain ignorant of the impending Impact on  they re finding out As they Winder in. That s in problem Shiles said officials recommend that tax advice be sought Saloon As possible through unit Tat advised to beat the april 1 5 deadline