Newspapers / The Charlotte Post (Charlotte, … / Oct. 3, 1996, edition 1 / Page 8
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8A STRICTLY BUSINESS/ The Charlotte Post October 3, 1996 Jordan pitching cologne Continued from page 7A The packages carry a distinc tive logo - Jordan’s head and shoulders silhouetted in hlack over a red background - also his NBA team’s color scheme. In the photo session, Jordan jumped for a basketball against the tuxedo-clad Bijan, a native of Iran now in his 25th year of designing high-end clothing for a deep-pocket market of 33,000 customers in Italy, England, the United States and Asia. NBA star and North Carolina native Michael Jordan has launched a line of colone for men. A 3.7-ounce bottle has a suggested retail price in top department stores of $23. Computer sessions for home, business Continued from page 7A securities. Proceeds from the bond sale will be used to retire part of the 'TVA’s short-term debt. TVA is the nation’s largest producer of electricity, serving 160 power distributors that pro vide power to about eight mil lion consumers in seven south eastern states. Power revenues total about $5.4 billion a year. TVA also carries out congres- sionally mandated responsibili ties associated with operation of the Tennessee River system, land management, economic development and environmental research. Blaylock & Partners, L.P., is a broker/dealer and investment bank. Blaylock is founder, presi dent and chief executive officer and hold controlling interest in the firm. Before starting Blaylock & Partners, he was founding part ner and executive vice president of Utendahl Capital Partners, also a successful minority- owned broker/dealer selling all types of securities to institu tions. Blaylock was also at one time first vice president at PaineWebber, where he was the firm’s top-producing collaterized mortgage obligation profession al. Prior to that he was a vice president at Citibank Capital Markets responsible for selling mortgage-backed securities and interest-rate swaps. He has worked with a broad array of institutional investors, includ ing insurance companies, state BET shuts down YSB magazine By Herbert L. White THE CHARLOTTE POST The parent company of Black Entertainment Television is closing one of its publications. BET Holdings Inc. will discontinue publica tion of YSB, a youth-oriented magazine. The five-year-old publication operated at a loss of $1.9 million for the fiscal year ending July 31. BETs subsidiary, Paige Publications Inc., will cease publication of YSB with the October issue. Despite YSB’s demise, BET will continue to offer media for young African American adults. BET will continue to air Teen Summit, UnREal and Rap City. Although Paige is providing a severance package to YSB’s employees, the cost of ceasing publication of YSB will not affect the consolidated financial health of BET Holdings, which also publishes Emerge magazine and BET Weekend magazine. BET, which is available in 46.4 million house holds according to Nielsen Media Research, is the nation’s first national television network to target African American audiences. BET hold ings is a publicly-traded company on the New York Stock Exchange. Cut your tax bill with ideas Continued from page 7A • Don’t depreciate what you can expense: Generally, you can expense up to $17,500 worth of equipment in 1996, rather than depreciating it over a number of years. (The expensing deduction is reduced on a dollar-for-dollar basis to the extent that the total cost of equipment placed in ser vice exceeds $200,000 in a given year). If you charge the pur chase on a credit card before the end of the year and don’t get billed until January, you can still take the deduction for 1996 as long as the asset is placed in service. • Put your kids to work: If your children are looking for part-time jobs or work over a school break, putting them on the payroll is a mutually benefi cial solution. You can deduct the salaries you pay them as long as they are performing a service for your company. • Charge it off: Businesses must now deduct had debts under the “specific charge-off method,” which means each individual bad debt must be identified and deducted in the year in which it becomes uncol lectible. It’s a good idea to create a paper trail showing the steps you took to collect the debt. • Deduct it even without receipts: Even if you lost receipts for some business entertainment expenses you incurred during the year, you may not lose your deductions as long as the expense was under $75. That’s bemuse the IRS no longer requires that you provide receipts for deductible business expenses under $75. However, for each expense you are still required to keep a log of the date, location, amoimt, name of person entertained, and busi ness purpose of the entertain ment. Take the time now to make sure your log is up to date and accurate. • Retire rich: Contributions to a qualified retirement plan can produce substantial and long term tax savings. Deposits to a Keogh or Simplified Employee Pension plan are deductible, and you pay no tax on the earn ings that accumulate until you begin to collect benefits, usually at retirement. A Keogh plan must be set up by the end of your business’ tax year to take a current deduction. Contributions can bo made as late as your tax-filing date, plus extensions. Take your ehgible deductions: Fear of being audited some peo ple to pass up valuable deduc tions. For example, many busi ness owners pass up legitimate deductions for home offices or computer purchases because they’re concerned that the deductions may trigger an audit. As long as your deduc tions are legitimate and you comply with the rules, you should consider taking advan tage of what you have coming to Minority Achievement Seminar The first Minority Achievement Seminar will be held at the Charlotte Convention Center Friday, bringing nearly 275 high school students together for mini-workshops and a career expo. The event was organized by architect Anthony Hunt. Local minority business owners and career profession als have been invited to sup port and participate in this partnership to educate stu dents about their occupations and offer information to aid future educational and entre- prenurial decisions. Those interested in partici pating the effort and joining the partnership should con tact Helen Strong or Sharon Wright at 333-1965. John Minter Internet Continued from page 6A daily,” Palmer said. “If business es do not move with the market place, the marketplace will move on without them and on line consumers will go to other vendors or suppliers who do have a web presence.” For INN subscription and seminar information, call 537- 7660 or visit CEO web site at http://www.ceo-online.com G - L MACKINS BONDING CO. “Serving Charlotte For Over 44 years” and corportae pension funds, mutual funds, money managers and deposit-based institutions. Blaylock holds an MBA from New York University and a bachelors from Georgetown University. He is a member of the board of directors of Georgetown University, the youngest member to ever serve on that board. While attending Georgetown, he was member of the NCAA Final Four basket ball team. He also serves on the boards of Harbourton Mortgage Corp. and Fine Host Corp. and serves on an advisory committee to Fannie Mae. He is also a mem ber of the NASD District 10 board. His charitable work includes a Covenant House Board membership. Keep up with more of the world. Subscribe to The Post at 376-0496. CHARLOTTE MBA PROGRAM Wake Forest University offers an evening MBA program in Charlotte designed for experienced managers. Join us for an Information Session Monday, October 14 5:30 - 7:30 p.m. (Formal remarks begin at 6:00 p.m.) One Morrocroft Centre, Suite 150 6805 Morrison Blvd. Information on our weekend executive program in Winston-Salem will also be available. WAKE FOREST Babcock Graduate School o/Management For more information about Wake Forest's MBA programs, call (704) 365-1717. ### Call one of our professional representatives to help market your business, profession or event in the publication 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 toJCeep You Abreast of Current Health Issues, Concerns and Preventions. • The Post, Designed and Dedicated to the concerns of the Black Community. ~ Call: (704) 376-0496 or Fax: (704) 342-2160 ~ FRANFARRER Advertising & Marketing Director & General Sales JERI Assistant Sales Manager & Automotive Specialist BARRY Restaurant Specialist, StrictlyBusiness, & Acci Rep. - York County PAT Healthy Body/Healthy Mind Specialist G.M., Account Executive & Circulation Sales The BLACK GUIDE Will Be On Racks The End Of September CALL TODAY!! 376-0496 Construction Specialist Acet. 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The Charlotte Post (Charlotte, N.C.)
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Oct. 3, 1996, edition 1
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