8A
STRICTLY BUSINESS/The CharloHe Post
April 18, 1996
Law firm moves into new offices
Continued from 7A
Ferguson, Jim Lanning and
Adam Stein joined. Lanning
and Stein are white. Ferguson
and Chambers, African
American.
Chambers in now chancellor
of N.C. Central University.
Lanning is Mecklenburg's
chief district court judge.
Stein works out of the firm's
three-lawyer offices in
Durham.
Former partners include
Cong. Mel Watt, N.C. Rep.
Leslie Winner and former
N.C. Appeals Court Judge
Charles Becton.
The firm, now with 16
lawyers, held an open house
Sunday, about a month after
moving from its former home
in what's now the Robert L.
(Bob) Walton Plaza on
Stonewall Street.
Senior partner James
Ferguson said the firm's move
was necessary because it had
outgrown offices on the 7th
floor of what was the
Independence Building, before
it was sold last year to
Mecklenburg County.
"In 1973, in the spring, when
we moved into the building on
Independence Boulevard, we
were a much smaller firm, in
the range of eight or nine
lawyers," Ferguson said. "We
are now at 16, soon to be 17
lawyers."
The firm had not moved for
more than 21 years, after tak
ing offices in the
Independence Building after
someone torched their Trade
Street office in 1971, at the
height of the hysteria of public
school desegregation.
The firm has remained
champions of civil right litiga
tion, for example its involved
in maintaining the 12th
District as a majority African
American congressional dis
trict. Former partner Mel
Watt holds the 12 District
seat.
But, the firm has also has
expanded over the years to
include areas such as a busi
ness practice and insurance
£ind personal iivjury cases.
"We are reaching out into
those areas, not just to make
Briefs: Golden State reaches out
Continued from 7A
interest-sensitive products.
Elements of the program
include creating partnerships
with community-based organi
zations, endorsements and
comparative advertising.
"We need to make families
aware just how affordable this
kind of insurance is and how
achievable millionaire status
is through our program," seiid
Larkin Teasley, Golden
State's president.
Building bridges within the
black business community is a
goal of the program. RecycUng
Black Dollars and the Greater
Los Angeles Chamber of
Commerce are partners in the
effort.
Excel opens some new opportunities
Continued from 7A
books: multilevel marketing.
Multilevel or network mar
keting, wherein people make
money by recruiting others as
well as selling services, has
worked for three decades at
companies such as Amway
Corp. and Mary Kay Corp.
Johnny compares the suc
cess of Excel to that of A.L.
Williams Insurance, which
revolutionized the insurance
industry and changed how
companies operate.
“I want to equate that with
Excel in telecommunications,"
Johnny said.
President Clinton recently
signed a bill breaking up the
monopoly of local phone ser
vices. “I know this is ground
level for us but I think it will
keep growing.” Johnny said.
“Excel will change the way of
thinking for people as well as
businesses because it will be
among the most competitive
markets.”
Taxes can be paid off in installments to IRS
Continued from 7A
that it has approved or denied
your request, or that it needs
more information. If you nego
tiate an agreement with the
IRS, be sure to keep your end
of the bargain. If you find that
you can't make the agreed-
upon payments, notify the IRS
immediately so you can
explain the situation and
work out a new plan.
Negotiate a better deal
'What if you think there's no
way you’ll ever be able to pay
all that you owe the IRS?
Believe it or not, the IRS
sometimes accepts partial
payment. You can try making
an "offer in compromise," an
IRS procedure that authorizes
the IRS to settle tax debts for
less than the total amount
owed when doubt exists as to
whether the total liability can
ever be collected. First, you'll
need to complete Form 656,
Offer in Compromise, which
asks you to determine: the
most you think you can pay in
relation to your net worth and
income; and how you intend to
pay it — cash up front and/or
by payments within a relative
ly short period of time. Your
initial offer should be a good
faith figure — don't make
your offer so low that the IRS
will consider it frivolous.
You'll also have to submit
Form 433A, Statement of
A PIECE OF THE GOLD
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A PIECE OF THE ROCK!
THArS RIGHT!
COMPARE THE COST PER YEAR
FOR $10,000 OF INSURANCE:
(joUcb Saw M«u*l
fnideaSiI
(WhnkUft)
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(Diffatiwe)
Male (Age 35)
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I
‘'You should get a piece of the Gold**
\cs! 1 .Wl l\ II KI SI I D l\ A I'll ( i: ()l I 111: (.oi l)
NAME
TELEPHONE
ADDRESS (No, & Street) (Qty) (Sute) (Zip) No IN FAMILY
GOLDEN STATE MUTUAL LIFE
1999 W..AD.A.MS BOULEVARD • LOS ANGELES, a 90018 • (213)731-1131
Financial Condition, which
provides a detailed description
of your income, expenses,
assets and liabilities. Be pre
pared to establish “beyond a
reasonable doubt” that you
don't have the resources to
pay off what you owe. If it
appears that you can pay the
debt, your offer will be reject
ed and you will just postpone
the time when you have to pay
the full bill. Meanwhile,
penalties and interest can
mount. Bear in mind that an
offer in compromise, if accept
ed, may come with strings
attached. For example, the
IRS may ask for a share of
your future earnings.
Take control of taxes
The best defense against
unpaid tax liabilities is to
make adequate provision for
paying throughout the year.
CPAs recommend that you
review your withholding
allowances often to make sure
that the proper amount of tax
is being withheld.
If you are self-employed or
have income that isn't subject
to withholding, make accurate
quarterly estimated pay
ments.
Money Management is pre
pared by the N.C. Association
of Certified Public
Accountants.
money for ourselves, but to
find ways to finance civil right
work and public interest work
that we have traditionally
done," Ferguson said.
"The new location is an office
condomininium above the
county Elections Office.
"We have gotten room to
expand more if we need to,"
Ferguson said. "This space is
close to 0.3 of a mile from old
office. It's very close to cherry
community. It is a bridge
between old Cherry communi
ty and the old Brooklyn com-
munty where we were.
"The facility is better. There
is more parking closer to
building. And we are close to
the retail and economic hub of
Midtown Square. And we a
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