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8A STRICTLY BUSINESS/The Charlotte Post Thursday, April 1 TIM 997 Extension won’t add burden Continued from page 7A . cover that you still need more time, you can apply for an addi tional two-month extension. Before you let out a sigh of relief, though, you should know that this extension is not auto matic. This time you’ll need to provide a detailed explanation as to why you need more time. If the IRS thinks your reason are good enough, it will approve your request and notify you that - you have until Oct. 15 to file your return. You should request the exten sions early, so that if the IRS refuses your request, you’ll still be able to file on time. Rules for taxpayers If you’re a U.S. citizen or resi dent hving outside the U.S. and Puerto Rico (including military personnel), you automatically are granted a two-month exten sion to file your return without even requesting an extension. However, you must attach a statement to your return show ing that you are entitled to such an extension. The time for pay ment of tax is also extended for two months; however, interest will be assessed on any unpaid tax from the due date of the return (without regard to the automatic extension). In the case of a married couple filing a joint return, the auto matic extension apphes even if just one spouse is overseas on April 15. But if you and your spouse file separate returns, only the spouse who is actually overseas is ehgible for the addi tional time. When you file your return, be sure your attached statment explains that you qualify for the extension by virtue of being outside the coun try on April 15. Avoid late payments Don’t add to your tax bill by failing to pay it off on time. If you’re unable to pay the full amount due with your request- for an extension, you should stiU file Form 4868 to avoid facing a stiff late penalty. CPAs recom mend that you include a “good faith” payment or as much of the tax due as you can afford to pay. You can complete For 9465, installment Agreement Request, if you’d Kke to request to pay the remaining taxes in montlily installments. The IRS will notify you within 30 days as to whether or not the install ment plan you propose is accept able. Contrary to what you may think, filing jan extension doesn’t put you on the IRS’s audit hit fit. In fact, you’re more likely to be audited if you make an error on your return than if you lile an extension. Texaco plaintiffs > 1 have some merit, Gannett report says Continued from page 8A ticipating in the probe, including four African Americans, one Hispanic and seven women, company spokeswoman Kjestine M. Anderson told Gaimett. She declined to identify the investigators, but said they were senior managers. Anderson said a toll-free hotline had been set up for employees who stiU had complaints, and conceded, ‘You can’t go through a thing like this and have it change overnight.” The Gannett report did not indicate when the Texaco probe‘ will be completed. Honesty more important in interview 5 By Herbert L. White THE CHARLOTTE POST Veracity is more important that verbal skills in today’s busi- ‘ ness world, according to a recent survey. Thirty-two percent of execu- ' fives rated honesty and integri ty as the most critical qualities in job candidates, a major shift fi-om a similar survey conducted in 1990 that ranked verbal skills first. At that time, honesty appeared on only 7 percent of the ballots. I The survey was developed by Roberth Half International Inc., one of the world’s largest staffing services specializing in accounting, finance and infor mation technology. The study was conducted by an indepen dent research firm which polled 150 executives from the nation’s 1,000 largest companies. In addition to honesty, enthu siasm was second among execu tives (29 percent), with verbal skills third (28 percent). Appearance and sense of hmnor received 3 percent of the votes cast. In 1990, 38 percent of exec utives ranked verbal skills as the most critical factor during a job interview. Enthusiasm received the second-highest score in both surveys and was favored by 24 percent of those polled seven years ago. ‘Today’s more demanding and competitive business environ ment places greater importance on honesty and integrity,” said Max Messmer, chairman and CEO of Robert Half International. “Managers need people they can count on - it’s the very core of a productive relationship and the corner stone of the team-building process. “Because references have become more difficult for compa nies to obtain, hiring managers are taking more time to deter mine a job candidate’s character and candor during the evalua tion. Without such attributes as trustworthiness and integrity, even the most highly skilled and articulate job seeker or employ ee will have limited success.” In interviews, most would-be employees can help themselves by being straighforward about their past and experiences. After all, honesty is the best pol icy “While it is important to really sell yourself and emphasize the positive during an interview, remember that sincerity counts,” said Lynn Dreyer, Robert Haft’s area manager for North Carolina. “If you’re not honest about your skills and experience, the employer may hire you based on someone you’re not, which ultimately will be counterproductive to you both.” AU last! A Certified MBE Company That Can Handle Your Office Needs! I' I • Copy Paper • Computer Pai>er • Toner ^ Ink Cartridges, Etc.... And We Deliver j', Call or Fax Today! (704) 522-9411 * Fax (704) 522-9413 8227-E Arrowridge Blvd. Charlotte, NC 28273 • Don Black^'Pres. Software sorts out your personal finance T^OUCH. INC. A Motivational Training Consultant Service -providing workshops for: • home* school • workplace* church • community Senior Consultant, Glenda Horton Manning New . 6316 Montieth Drive • 561-3731 or 596-6036 Address •Fax 596-6276 'Touching Tomorrow Today' Continued from page 7A part goes toward building a down payment and a credit his tory. After one to five years, with most of the down payment already saved, you may assume the mortgage without having to pay origination fees. This cre ates an easier transition from renting to owning, with a simple way to build both equity and a sound credit history at the same time. Early withdrawal on IRAs If you need to get to your IRA money before you turn fifty-nine and a haft, you can do it and not pay the ten percent penalty. How? By temporarily turning your IRS into an annuity. You set up a formal withdrawal plan that each year pays you a fixed amount of money based on your life expectancy. You continue to withdraw money each year for five years or until you turn 59.5, whichever is longer. You still pay income tax on your with drawals, but this saves you the whopping 10 percent early with drawal penalty attached to accessing an IRA. But be aware: making a mistake can be very costly. Making even a minor change in yom payment sched ule after you’ve begun with drawals results in a ten percent tax penalty and is retroactive to all previous withdrawals. Consult your tax advisor before making any decision. Charles Ross is host of the nationally syndicated radio pro gram, "Your Personal Finance," and author of Your CommonSense Guide to Personal Financial Planning. "Where Changed Philosophies Lead To Changed Behavior" Creative Interchange OF Cl • Diversity Facilitating • Motivational Speaking • Self-esteem Building for Youth & Adults • Wellness • African, African American History Lectures • Rites of Passage Training Ahmad Daniels, M.Ed Educator & Facilitator 1321 Enderly Road • Charlotte, NC 28208 • (704) 393-5474 African fashion comes to Iowa MORTGAGE SERVICES By Criss Roberts THE ASSOCIATED PRESS BURI.INGTON, Iowa - A close look at the facts of her life led Burlington's Deborah Mitchell to take a frightening step. She's starting her own business, motivated by every mother's desire to provide for her children. The 29-year-old single mother of three is taking the thing she does best, adding a twist of origi nality, and flying with Ethnic Designs, a clothing company that has roots in African- American heritage. “I can’t ever remember when I didn’t have a sewing machine,” Mitchell said. “When other teenagers were buying clothes, I was buying material and the lat est sewing machine attach ments.” She knew sewing and she knew one other thing just as intimately she wanted to be a good example for her three daughters. “I want to succeed. I was on public aid for about a minute,” she said. ‘Tt just wasn’t me. “My mom always told me and my dad always told me, if you want to raise good kids you have to be an example.” Mitchell grew up in the Peoria, Ill., projects, not a place known for its excellent role models. “All the girls were pregnant by the time they were 13 years old,” she said. Mitchell’s mother warned her toward abstinence, but at 19 she fouijd herself a mother for the first time. By the time she was 24, she had three children and a world of woe. “I wish I would have known about this when I was younger,” she said on the problem of being a single mother. “I’m like, why didn’t I listen?” She’s always had jobs, but she’d lose them because of prob lems with her car, or hours spent nursing her daughter with asthma. After enrolling in the state’s Promise Jobs program, MiteheU hooked up with Rhonda Reft, a consultant with the non profit Institute for Social and Economic Development. Reft, who owns Rhonda’s Body Shop and Stress Management Center, holds an MBA. She’s helping Mitchell with her busi ness plan. WAKE FOREST UNIVERSITY Babcock Graduate School o/Management CHARLOTTE MBA PROGRAM Wake Forest University offers an evening MBA program in Charlotte designed for experienced professionals. Join us for an Information Session Thursday evening, April 24 5:30 - 7:30 p.m. (Formal renarks begin at 6:00 p.m.) One Morrocroft Centre 6805 Morrison Blvd., Suite 150 Information on our weekend executive program in Winston-Salem will also be available. For more information about Wake Forest's MBA programs, call (704) 365-1717 or contact us at http://ioiow.mba.wfu.edu. A -fe GRAB HOLD OF THE DREAM Home ownership is the most enduring American Dream. First Citizens Bank believes it shouldn’t be the most elusive. If you're established in your career, you've already proven you can turn dreams into reality. That’s why our mortgage appli cation gives you full credit for what you've achieved in the working world - whether you're in your twenties or your sixties. We've designed our loan application process to be straightforward and respectful, lb bring out your strengths and help put your best foot forward. And to help you secure the most affordable loan available. Drop by your nearest First Citizens today to see how we're helping people of all ages achieve home ownership. By working together, we could turn your dreams of a home into the home of your dreams. I uieanis it EQUAL HOUSING LENDER first Citizens You’re Always First.
The Charlotte Post (Charlotte, N.C.)
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April 17, 1997, edition 1
8
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