Questions From Readers

It's income tax season, and again this year The Sun and the Maryland Association of Certified Public Accountants will offer readers help on state and federal income tax returns. Association members, all certified public accountants, will answer selected questions from readers over the ensuing weeks until the April 15 filing deadline. Readers may submit questions by recording them on Sundial or electronically though SunSpot, The Sun's Internet site. Please be sure to state your question in full.

My boyfriend invited me to a fancy movie premiere in London. I've never been to anything like this before, and I am so excited.He says it will be quite casual, and I am at a loss as to what to wear. "Casual" to me means jeans.I know he plans to wear his new Armani jacket with a mock turtleneck and slacks. I want to look chic and elegant but not overdressed.What should I wear?For advice I called Milan and put the question to Giorgio Armani himself. He agrees that being overdressed is the opposite of chic.

It's income tax season, and again this year The Sun and the Maryland Association of Certified Public Accountants will offer readers help on state and federal income tax returns. Association members, all CPAs, will answer selected questions from readers over the ensuing weeks until the April 15 filing deadline.Readers may submit questions by recording them on Sundial. Please be sure to state your question in full. Selected questions and answers will appear in the Business section of The Sun.Although not required to do so, callers are encouraged to leave their names and phone numbers should questions need to be clarified.

Members of the Maryland Association of Certified Public Accountants are answering readers' tax questions through April 15.Q: Should I itemize or take the standard deduction?A: Itemize only if deductions exceed the standard deduction. For 1995, the standard deductions have increased to: $6,550 for marrieds filing jointly; $3,900 for singles; $5,750 for head of household and $3,275 for marrieds filing separately.Q: How much can I deduct for business use of my car?A: You have the option of claiming 30 cents per mile or the actual cost of operating your car for business purposes.

To get the ball rolling while members of the Maryland Association of Certified Public Accountants prepare answers to reader questions, here are two frequently asked questions. Answers are provided by CPAs who belong to MACPA.Q: I understand there is a change in the Social Security tax. What is it and when is it effective?A: There is no change for 1993 taxes. But in 1994, up to 85 percent of Social Security benefits received by those with total incomes over $34,000 for singles and $44,000 for married couples will be taxable.