. Coast watch. Marine resources; Oceanography; Coastal zone management; Coastal ecology. A limited number of accompanying posters are available for public dis- play. For more information, contact Sea Grant. The 1986 tax reform program may not change a fisherman's net worth, but it could affect his wallet. Sales tax, income aver- aging, depreciation— they're all covered in the new pro- gram. And they'll make a difference to North Carolina's commercial fisher- men next April. So decisions on how to act on these changes should be made now. One of the changes is that state and local sales taxes wi
. Coast watch. Marine resources; Oceanography; Coastal zone management; Coastal ecology. A limited number of accompanying posters are available for public dis- play. For more information, contact Sea Grant. The 1986 tax reform program may not change a fisherman's net worth, but it could affect his wallet. Sales tax, income aver- aging, depreciation— they're all covered in the new pro- gram. And they'll make a difference to North Carolina's commercial fisher- men next April. So decisions on how to act on these changes should be made now. One of the changes is that state and local sales taxes will not be deductible in federal returns in 1987. For fisher- men, this means that they cannot de- duct sales tax from any items pur- chased after Dec. 31,1986 for business use. Or if a fisherman wants to sell his boat, the new tax law does not give special tax status for capital gains. All gains from the sale of the boat will be treated as ordinary income. This pro- vision could have a major impact. Many fishermen used capital gains to protect profits on boat sales so they could retire or buy a bigger boat. A third possible change states that only 80 perent of business meal costs will be deductible. This means higher costs in the long-run for fishermen because groceries are a large expense. Check with your area Sea Grant agent for other alterations in the tax law (Manteo - 919/473-3937, Pine Knoll Shores - 919/247-4007 and Fort Fisher - 919/458-5498). Then work out the best plan with an accountant or a tax preparer. You have an opportunity to help shape a management study. Sea Grant is cosponsoring a conference to encour- age public participation in a study of the Albemarle and Pamlico estuaries. The conference begins at 8:30 Feb. 14 at the Beaufort County Com- munity College in Washington, The study, funded through the Environmental Protection Agency, will draw on the expertise of a host of state agencies. Its purpose is to expand our knowledge of the Albemarle and
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Keywords: ., bookcentury1900, bookcollectionunclibra, booksubjectoceanography
