European Stars and Stripes (Newspaper) - March 30, 1991, Darmstadt, Hesse                                Saturday March 30, 1991 the stars and stripes a Page 17_ Money matters today s tip the accounting firm of Ernst amp Young says Many income tax deductions Are overlooked by taxpayers. The firm warns that a persons specific circumstances have to be taken into consideration but some possible off beat deductions include costs for air conditioning for Relief of allergies treatment for alcoholism and drug abuse amortization of Premium on taxable Bonds prescription contraceptives foreign taxes paid gambling losses to the extent of gambling gains hair transplants and hearing devices. New York Exchange new York up a the 15 most Active stocks in new York Stock Exchange composite trading on thursday. Stock Georgia Gulf Avistar inti. Beverly in Terr Upjohn co a at amp to company ism corp adv Micro orcs Wendy a inti nor corp a Amer express computer Assoc trans co explore Philip Morris us corp Uniss corp sales 2.553.400 2.479.700 1.954.700 1.673.500 1.624.500 1,618,700. 1.540.400 1.494.000 1.480.900 1.407.100 1.302.900 1,290,90 7 1.266.500 1.244.000 1.181.100 last 16 % 3 % 11 vhf 48 34 % 113% 10% 10% 99% 28% 8 % 2 68 31 4%. Nat chg. Up % unch  up % off % up 1 unch. Up up 2 of 1 % up off 1 % off/4 off 1 off a a american Exchange new York up a the 10 most Active stocks in Exchange composite trading thursday. American Stock Slock sales last net chg. Lionel corp 886,300 3 off i cat Energy inc 616,700 13 % up Western digital 614.900 5% up % carnival cruise. 389,500 20 up % Amdahl corp 372700 15% up Hill Haven corp 350,000 3. Unch epitome inc 274,800 23% up Uno restaurant 252,100 12 y4 of pall corp 240,700 34 a up % Energy service. 232,600 2%. Unch Dow Jones new York up a Dow Jones closing Range of averages thursday a a a. High Lew Closa 2942.08 2893.32 2913.86 30 industrials 20 transport 15 utilities 65 stocks 1127 29 218.06 1045.98 1103.14 21579 1028.18 1109.49 217.18 1034.97 change off 3.i. Off 8.46 up 0.63 off 2.54 correction because of a reporting error a Story on fridays Money matters Page incorrectly listed the charges that apply when calling at amp to �?o800�?� numbers in the United states from overseas. The numbers can be called by persons with at amp to credit cards via the company Susa direct service. But minute by minute charges Are assessed. The Calls Are not toll free As they Are in the United states. When calling from Europe a $2.50 surcharge applies for using the Usa direct service and minute by minute charges Are tacked on. In Germany charges Are $1.77 for the a first minute and $1.09 for each additional minute. J rates in other european countries Are us follows. A. I in Belgium $1.71 for the first minute and $1,09 for each additional minute in a the United kingdom $1.20 for the first minute and 94 cents for each additional minute. Quot in Italy $1.88 for the first minute and 14 for each additional minute. In the Netherlands $1.70 for the first minute and $1.05 for each additional minute.  saudi Arabia callers must pay  per minute with no surcharge assessed. Discount brokers let investors play the Market at Low Cost by Randy Mcclain financial writer air Force maj. Jim Lacey does no to like / paying stockbrokers for bad advice. So like a growing number of investors he makes his own Stock picks  places orders on the new York Stock Exchange with the help of a discount broker a i think it strictly depends on what you want to do a said Lacey who is stationed at Ramstein a Germany. A a in a More Apt to pick stocks myself rather than pay somebody else for advice that May or May not be right. / �?o1 done to really feel that a full service broker is going to give me anything better than i can get from Reading articles talking to people or throwing darts at a Dart  plus using a discount broker saves investors a Little Money. Typically discount brokers commissions Are 50 percent to 70 percent less than those charged by full service brokers such As Merrill Lynch. A a. A a. A a a a a. Full service brokers advise investors what to buy and when to sell discount brokers Are prohibited from offering that sort of advice. But they can respond to questions about a particular company a recent performance and most important they can handle buy and sell orders for customers at Low Cost. Still using a discount House requires the investor to do his own research. Lacey said that a not necessarily a bad thing. His biggest complaint is that its More difficult to keep up with the financial news while living overseas than it is in the United states. A the research is More difficult a he said noting that financial magazines and newspapers Are available at military libraries but they re a Little out of Date. A you just take your Best guess and go with  recent Stock picks that have turned out to be winners for him include a amps sovran Bank of Norfolk a. Merck amp co., the Rahway ., pharmaceuticals company and at amp to. Lacey made All the picks after talking with friends and Reading the business press. Lacey said he a holding onto at amp tas a Blue Chip Issue Worth owning for the Long haul. But he sold shares in a amps sovran Bank and Merck in Early March pocketing tidy profits in each Case. Lacey added that he s considering the Bank Stock As a potential buy once again. A if the Stock drops Down in Price i i Don t really fee that a full service broker is going to give me anything better than i can get from Reading articles talking to people or throwing darts at a Dart Board a air Force maj. Jim Lacey might buy it a he said. A a it a a solid Southeast Bank. And i figure if the . Real estate Market starts to come around it will come around in the Southeast  Lacey is a customer of Charles Schwab discount brokers one of the two top firms in the Field. Fidelity investments which has a toll free number that allows Calls to be made from overseas without Long distance charges is another big player. A a a a a a a a a a a so far Lacey said he has no complaints about Schwabas service since moving to Germany a few months ago. A they done to have offices overseas but there a no problem placing orders a he said. The major opened his account with Schwab last june while he was stationed at Mcguire fab near Trenton  He now works at the Headquarters of . Air forces Europe. A Lacey said he keeps several thousand dollars in an interest bearing account with the firm and places orders either by mail or phone depending on the urgency of his plans and the Stock markets volatility. A a a the Cash that he does no to have invested now earns 6 percent interest while its parked in a Schwab asset management account based on current Money Market rates. \ a. A a a a a a a a a a a a a a Schwabas procedures Are similar to those of other discount brokers. Investors who make Stock purchases must Settle their accounts within five business Days. That can be done either by mailing a Check or by allowing the company to deduct the Cost of a Stock Purchase from a customers asset management funds. Interest bearing accounts in that category can be opened with As Little As $1,000 at Schwab. Other criteria May apply at other firms. At Fidelity investments the most popular account is the Fidelity plus account. Its a Money Market account that requires a minimum investment of $5,000 to open. As Long As $1,000 or More remains in the account it pays interest on the Unin vested balance of 6.2 percent based on current Market rates. Ninety percent of the transactions with discount brokers Are done by phone sales representatives said. Schwab has an �?o800�?� number that can be accessed from Europe by at amp to credit card holders for a fee and the firm can also be reached through regular Long distance lines. The numbers Are 800-435-4000 and 415-3923620. Fidelity investments has several special lines for overseas business in Germany the company can be reached by dealing 0130-81 -0175. The Cost is the same As for a local Call. The same setup exists in several other countries As follows in Italy dial 16-78-74093 in the Netherlands 06022-3213 Belgium 11-32-36 and United kingdom 0800-89-1141. Otherwise Fidelity can be reached by calling stateside 801-534-1910. New Laws cutting poll tax raising vat take effect monday in . By Amy Geiszler Jones . Bureau come monday Consumers in the United kingdom will see the tax they pay on goods and services climb 2.5 percentage Points while residents liable for the controversial poll tax will see a significant decrease in their Bill. The value added tax will increase from 15 percent to 17.5 percent a an increase of 16.6 percent. On a product that costs 50. Pounds for instance the tax will increase from 7.50 pounds to 8,75 pounds. Translated into dollars the tax on an item costing $89.50 will increase from $13.42 to $15.66. The increase was announced March 19, when the British governments budget was presented to parliament by Chancellor of the exchequer Norman Lamont. Lamont puts together the governments financial strategy for the coming fiscal year which begins monday in the United kingdom. The increase is tied to a plan to abolish the country a poll tax a Levy that set off violent rioting in England after it was introduced there last year. The poll tax a legacy from former prime minister Margaret Thatcher has angered Many British citizens because the tax makes no distinction Between the wealthy and the poor for example someone who May Nave property valued at thousands of pounds is now taxed the same As another individual in the same area who May not own any property. Previously tax was assessed according to property value. Michael Heseltine the department of the environment Secretary plans to replace the poll tax or Community charge of 1993, until then the tax which varies throughout the country will be reduced by 140 pounds about $250. The. Vat increase is a a Way of meeting the additional Cost due to the Central government reducing the Community charge a said an exchequer spokesman. This is the first time the vat has been increased since 1979, the spokesman said. There Are three exemptions to the vat children a clothing Domestic heating fuel and books. The poll tax is levied against British citizens and other residents 18 years or older. The Levy replaced a property tax and is intended to pay for such govern mint services As schools and Community maintenance the poll tax has been a controversial tax not Only for British citizens but also for some family members of american military and civilian personnel. . Military members and . Government civilian workers Are considered exempt from the poll tax under the status of forces agreement. But any spouse or child Over the age of 18 who holds a British passport is liable for the tax. Attempts by the . Embassy in London to get exemptions for those nationals failed. The British governments answer has been that in order to avoid the taxation the nationals need to give up their British citizenship. Officials Are working to determine How the new proposed fax would affect american military and civilian employees and their families who live in the United kingdom. The new tax apparently would marry one tax a the poll tax a for which the majority of the . Community in Britain had not been liable to another tax a the property rate a for which they had been liable. ,