Newspapers / The Charlotte Post (Charlotte, … / Feb. 23, 1989, edition 1 / Page 4
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Page 4A - THE CHARLOTTE POST - Thursday, February 23, 1989 BUSINESSFH/S WEEK Advice On How To Escape The Medicare Catastrophie Tax Lowering taxable Income through tax-free Investment Is about the only escape from the catastrophic tax Increase. Since the surto will escalate In the fu ture, senior citizens need to evaluate their Income stream to day. This Is a review of four Invest ments that can reduce your tax bill and help you escape the Catastrophic Surcharge. 1) Municipal Bonds: These bonds are issued by states, cities, counties, and oth er political subdivisions. Inter est Income from most municipal bonds Is exempt from federal In come taxation. In fact. Interest Income from these bonds may also be exempt from state and local Income taxes If Issued In the city you live. Municipal bonds normally yield less than equivalent quality, taxable bonds; but as your tax exposure Increases , so does the value of these tax-exempt securities. Municipal bonds usually sell In $5,000 lots, 2) Tax-exempt Unit Trusts: Tax-exempt unit trusts, also known as municipal unit Invest ment trusts, consist of fixed portfolios of quality municipal bonds selected by profession als. Generally, tax-exempt unit trusts provide monthly Income that Is free from federal income tax. Units are typically available In $1,000 amounts. Although the Income from tax- exempt unit trusts Is exempt from federal tax. It will generally be partially or totally subject to any state or local Income tax, depending upon the specific holdings of the fund and the specific state law applicable to the Investor. An exception to this taxation at the state level is found In cer tain tax-exempt unit trusts which invest solely in municipal bonds for one state. For the Investor who Is not fa miliar with the municipal bond market, but who desires diversi fication and receipt of monthly Income free from federal Income taxes, the convenience of tax- exempt unit trusts should have considerable appeal. The Inves tor would not have to contend with coupon clipping, supervi sion of the portfolio or market decisions. 3) Tax-exempt Mutual Funds: A tax-exempt mutual fund Is an openOend Investment com pany whose portfolio consists primarily of municipal bonds. The interest obtained from these bonds Is passed through to shareholders on a monthly basis free of federal tax. These funds offer Investors Job Fair For Minorities Minority and female job seek ers pursuing jobs and careers In accounting, finance, marketing, sales and data processing are Invited to participate In a free job fair being conducted by the New York-based Interspace Per sonnel, Inc,, on Thursday, March 9 and Friday, March 10, at the Charlotte Hilton Hotel, 8629 J, M. Ke3mes Drive at University Drive, In Charlotte, North Caroli na. William Ellis, President of the 15-year-old firm specializing In the recruitment of minorities and women, stated that repre- See COMPANIES On Page 5A. many advantages not ordinarily associated with individual mu nicipal bond issues. These in clude continuous professional management, broad diversifica tion, an opportunity to invest dividends In additional fund shares, and a relatively small in itial investment. The flexibility of an open-end fund allows the Investment manager to adjust the portfolio to take advantage of changing Interest rate cycles and invest ment opportunities by shifting The Financial The Impact of Tax-Free Income in Dollars and Cents A retired couple eligible for Medicare invest: credit ratings coupons and ma turities of the underlying bonds. The ability to change the portfo lio as market conditions war- • rant should help to preserve In vestor principal and provide a continuous stream of tax- exempt Income. 4) Tax-exempt Money Market Funds: If you are seeking relief from a large tax burden but need the highest degree of liquidity and stability of your principal, you may wish to consider Investing in a tax-exempt money market lund. The portfolio of such a fund consists of high quality, tax- exempt municipal obligations with very short maturities. Tax- free dividends are declared daily and reinvested In additional fund share. You may convert all or any part of your account to cash at any time. If you have any questions about tax-free investments, please contact Marcus Butts, c/ o The Charlotte Post, P. O. Box 30144, Charlotte, N.C. 28230. Braces For Children & Adults Dr. PAUL A. McGILL D.D.S., P.A. "Practice Limited To Orthodontics" CONVENIENT LOCATION & SAT. HRS (704)375-7005 1404 Beatties Ford Road Northwest Gateway Professional Center Suite 200 • Charlotte, North Carolina 28216 Taxable 50,000@9%* 50,000@9%* taxable taxable (28% Tax Bracket) (33% Tax Bracket) Tax Free 50,000@7.50%* taxfree hcome Earned $4,500 $4,500 $3,750 Less Federal income taxes -1,260 -1,485 -0- Less Medicare surtax -189.00 -222.75 -0- $3,051 $2,792 $3,750 The Bottom Line; 28% Tax Bracket 33% Tax Bracket $699 More $958 More After-Tax Income After-Tax Income 23% More Moneyl 34% More Money! *Yiold spread that extra between similarly rated sccurities- J.C. Penny Is Proud to Introduce, Our New Stylist Yvette Gray and Robin Bond 25% OFF Any Chemical Service INTRODUCTORY SPECIAL (Offer Exprles February 23, 1989) Call Today THE STYLING SALON JCPenne Charlotte. Eastland Mall • 568-0110 ^RlNc/y- cn SPRING SHOW IS FAMILY AFFAIR Young's Nursery of Matthews has been part of the Southern Spring Show for ten years. Theirs is a famiiy affair from growing, selling and sharing expert advice with show visitors. Sarah and Willie Young will be at this year's fabulous show along with more than iOO exciting exhibitors. Plus, there'll be glorious gardens, designer rooms, crafts galore and everything you need to spruce up your home for spring. HOURS: to am to 9:30 pm; Sundays, 10 am to b pm. ADMISSION: $5. Students (b-12) $.3. Advance tickets $4.50. For more information or to order tickets: Southern Shows, Inc. Box 36859 Charlotte, N.C. 28236 Tel: 704-376-6594 'SOUTHERN FEBRUARY 25-MARCH 5,1989 CHARLOTTE MERCHANDISE MART ■^1 TheseThree Are Worth Millions fL toR) Sylvia Daniel, The Na- lal Environmen- Health Associa tion Convention, June 25 • 28,1990 Jerry Bush, The International Right of Vay Association Conven- )n, June 13-19, 1992 The ReYerend William White, The 43rd Quadrennial Session of the General Conference, AME Zion Church, July 27 - Aug 5, 1988 You may be, too. These three Charlotte- ans are responsible for pour ins an estimated $3 million into our economy How? As members ot vari ous orsanizations, the/ each persuaded their Sroups to meet in Charlotte. And you cqn do the same. Whether you belons to a fraternal, relisious, social, profes sional or educational orsanization, you can easily help brins your sroup to Charlotte, Simply call the Charlotte Convention and Visitors Bureau and tell us about your orsanization - bis or small. We'll do the rest. We’ll develop a proposal tor your orsanization. Tailor a meet- ins to meet the budset. Coordinate hotel rooms. And help with prosrams tor spouses and kids. Make that call today Just one medium-sized convention can create about $400,000 in revenue, on averase. Think ot how that can enhance our tax base, city cotters and seneral economy Call the Charlotte Convention & Visitors Bureau at 334-2282 and ask for Susan Royster Your call may be worth millions. ccb CONA'ENTION VISITORS BI RE.AL' Participating Sponsors: Adam’s Mark, Embassy Suites Hotel, Hilton at University Place, Marriott City Center, Merchandise Mart, Park Hotel, Radisson Plaza, Ramada Inn Airport, Registry Hotel, Sheraton Airport Plaza and Woodlawn Holiday Inn.
The Charlotte Post (Charlotte, N.C.)
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Feb. 23, 1989, edition 1
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