Newspapers / The Charlotte Post (Charlotte, … / Feb. 15, 1996, edition 1 / Page 7
Part of The Charlotte Post (Charlotte, N.C.) / About this page
This page has errors
The date, title, or page description is wrong
This page has harmful content
This page contains sensitive or offensive material
7A STRICTLY BUSINESS/ The Charlotte Post February 15, 1996 Auto dealers concerned Continued from page 6A tions said Monday. Dealers and company offi cials at the convention said their industry will respond creatively to the challenge presenting by the mushroom ing entries into the used-car “superstore" business pio neered by Circuit City's CarMax chain. The trade journal Automotive News reported Monday that various compa nies and entrepreneurs plan to open 25 used-car super stores, most of them this year, in addition to seven already operating. . Bivens said the new compe tition will add to the success of conventional dealers. “It's awakened them, awak ened the entrepreneurial spir it in them," he said. “We have a lot of confidence they'll adapt and adapt well." The average new car dealer ship had total profits of about $284,000 last year, more than half coming from service and parts operations, Webb said. That was down from a record $342,000 average in 1994. Finances can be well managed Continued frompage 6A more detailed recordkeeping. Keep in mind that you can deduct 100 percent of your actual automobile expenses only if use your vehicle exclusively for business. If you use your car for both business and personal pur poses, you must allocate your expenses between tbe two. Eating out serves up a deduction You also may deduct 50 percent of the cost of meal and entertainment expenses that are directly related to or associated with the active conduct of your business. And, the business-meal deduction applies whether you're dining with a client or eating alone. Just be sure to keep thorough records of your expenses. Travel Near and Far for a write-off When you travel strictly for business, you may deduct your unreimbursed travel expens es. Deductible expenses include the costs of trans portation and lodging, 50 per cent of meals and incidental expenses, such as the cost of dry cleaning and laundry, that you incur while away from home. Search for a job and find a deduction If you looked for work during 1995, you may be able to claim deductions for related expens es, as long as you were seek ing a position in your current line of work. Deductible expenses include costs for resume preparation, printing and mailing, career consul tants, travel to interviews, telephone calls and publica tions purchased to review Money saving tips Continued from page 6A primary-care physician or your reimbursement claim might be rejected. Travel wisely Unwary travelers are easy prey to thieves. Tourists are especially vulnerable because they venture into unfamiliar surroundings, loaded with cash and valuables. There are ways to protect yourself when you travel. First, if a vacation deal sounds too good to be true, it probably is. When booking a trip, use a veteran travel agent or reputable trav el club. Travel fraud is booming with the proliferation of telemar keting schemes to get your credit card number for misuse. If one of your credit or charge cards offers travel insurance, consider paying for your vaca tion with it. Take along only the cards you'll use, leaving all local and department store cards at home. Stay alert when using your long-distance calling cards, especially in airports, train terminals or hotel lobbies. Telephone fraud cost phone companies billions each year. There are ways to protect yourself from thieves and rip- off artists when you travel. At airports, always try to carry your luggage on board when you can. Always keep your luggage in sight. Airport per sonnel have been known to steal. And be on the alert for the con artist who roams the concourse in search of victims. Be particularly alert when checking in and out of hotels, when your cash and valuables are visible. Valuable items should be left in the hotel safe, but also ask about the hotel's insurance coverage. Then get a detailed, written receipt for the items stored. It's wise to stay at smaller hotels when you can, as strangers are more easily noticed. If you rent a car, plan your route before you leave the hotel. Caijackers look for people who are lost. CHARLES ROSS is host of the nationally syndicated radio program, "Your Personal Finance," and author of Your CommonSense Guide to Personal Financial Planning, PUT YOUR BUSINESS IN THE STREETS WITH tlTlje Cljarlotte $osft! heritage house SPECIALIZING IN UNIQUE GIFTS, ART, BOOKS AND HOME ACCESSORIES WITH AN ETHNIC FLAIR Heritage House Invites Children, Youth and Adults To An Afternoon of STORYTELLING POETRY READING MONOLOGUES BY Cheryl “Sparkle” Mosley Storyteller Saturday, February 17, 1996 2:00 PM. To 5:00 P.M. Kings Court At 901 South Kings Drive • Charlotte • 344-9695 (By The Melting Pot & Mama Ricotta's Restaurants) NEW 1996 Hours Mon. - Sat. 10-6 employment ads. Don't forget the little things According to the North Carolina Association of CPAs, there are many business expenses that are often over looked. For example, other deductible employee expenses may include subscriptions to business periodicals, aimual dues on credit cards used for business, business gifts (up to $25 per recipient), phone charges for business calls made from or billed to your home phone and office sup plies and furnishings that you purchased yourself. MONEY MANAGEMENT is a weekly column on personal finance prepared and distrib uted by the North Carolina Association of Certified Public Accountants. %et'B ^0 #### Call one of our professional representatives to help market your business, profession or event in the publi cation that produces results and keeps you in touch. • StrictlyBusiness, Designed to Profile Minorities in Business and Minorities Successful Within Majority Corporations. • Healthy Body/Healthy Mind, Designed to Keep You Abreast of Current Health Issues, Concerns and Preventions. • The Post, Designed and Dedicated to the concerns of the Black Cotmmmity. Call: (704) 576-0496 FRANFARRER Advertising & Marketing Director & General Sales Fax:(704) 542-2160 JERI Assistant Sales Manager & Automotive Specialist Prime Spots Still Available In The 1996 BLACK GUIDE CALL TODAY! PAT Healthy Body/Healthy Mind Specialist CARLOS BOB StrictlyBusiness Specialist & Rock Hill Accout Executive M General Manager & Account Executive Celebrate Black History Month ...ADVERTISE Your Business! And Choose i:2-]vfO]isrxn ci> 'V F 1C o We’ve always believed that good customers should get 'more from their bank. So once again we’re offering more with great rates on a CD or EquityLine. It’s this simple. First, establish a banking relationship with us- a checking account, an ATM Card, and an order of checks. Then, sign up for additional services to earn a bonus rate on a CD or EquityLine. The more services you use, the better your rate. It’s easy to get started. Easy to switch your accounts from another bank. So stop by any First Citizens office, and pick up your bonus. Normal credit approval applies. No c/osi>^ costs other than $99 loan fee. Property insurance and a First Citizens Bank checking account mgy be required-normal deposit account fees will apply. The annual percentage rate may vary monthfy-the interest rate will be tied to the Prime Rate quoted in Ike Wall Street Journal (WSJ) as of the last business day of the previous calendar month. Interest rate will be WSJ Prime plus 1.5% for EquityUnes from $5,000 to $14,999 (10.00% APR as of 1/1/96) and WSJ Prime plus 1% for Equity Lines of $15,000 or more (9.50% APR as of 1/1/96) adjustame monthfy, with a maximum 18% APR and a minimum 8% APR (after first year). First year's APR may be discounted by up to 2%. Consult a tax advisor regarding the deductimlity ^ interest ^ Minimum $500 and maximum $30,000 deposit required to obtain increased interest rate on one-year CD. For Quest^arid ^nior Quest^customers, minimum defwsit is $5,000rA penally m^ be impost for early withdrawal. Annual percentage yield as high as 7.68%, based on rates offered by Bank on 1/1/96. This is a limited time offer. Application /or EquityLine must be received, or one-year CD opened, before offer withdrawn by Bank or 4/12/96, whiclw/er occurs first Consumer must request offer. Offer limited to one per household. Personal (norumsiness) accounts only. Member FDIC. Equal Housing Lender. fS) _ Rrct Citizens bank You're Always First.
The Charlotte Post (Charlotte, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Feb. 15, 1996, edition 1
7
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75