Newspapers / The Tribunal Aid (High … / April 2, 1975, edition 1 / Page 2
Part of The Tribunal Aid (High Point, 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
\ \ PAGE 2 TBE TRIBUNAL AID WEDNESDAY, APRIL 2, 1975 I * • "1 • 1 BUSINESS & FINANCE Aid, Bennett’s Life Line Senator Me Smith Says GREENSBORO Ben nett College is in tlie implementation stages of its Advanced Institutional Development Program. The $1.5 million grant, awarded by the U.S. Office of Education, will strengthen existing operations and provide new strategies to assist Bennett in achieving its institutional mission. “It is understandable that the amount of money will not support Bennett’s total operation, but it will serve as a stimuli to get several major pomponents started,” explained Dr. George Breathett, coordi nator of the A.I.D. Program. The five-year grant will include components in planning, administration, management, and evalua tion; curriculum develop ment and support; and student services develop ment. Bennett is establishing its executive structure on the principle of the Management Information System. Such an organiza tional structure will result in improved data assimila- Continued on Page 7 The Governor never has been any more than a fair weather friend of food tax repeal. He says it’s a rainy day, but now, the rainy day, is the very time the people need the tax relief which four percent off their grocery bills would provide. He says the State’s Local Students Recognized Veterans Administration The maximum interest rate on GI home loans has been reduced for the third time in less than six months, the Veterans Administration announced today, VA Regional Office Director H.W. Johnson said an increased supply of mortgage money made possible the latest reduc tion from 8.5 to 8 percent effective March 3. The new rate also applies to FHA home loans. Johnson noted the half percent decrease could mean mortgage payment savings of over $10 monthly, amounting to $.3,800 over the 30 year life of a loan to a veteran buying a home with a $30,000 GI loan. Interest rates on loans guaranteed by VA began a steady rise from 6 percent in 1966, and peaked at 9.5 percent last August. They then declined to 9 percent last November, 8.5 percent on January 21 and finally to the current 8 percent rate. VA guarantees 60 per cent up to a maximum of $17,500, whichever is less, of loans private lenders make to eligible military service personnel, veterans and widows of World War II and later periods. Johnson noted the agen cy’s home loan program was liberalized under Veterans Housing Act of 1974 (December 31). The law increased the amount of loan guaranty from $12,500 to $17,500, autho rized loans for mobile home lots, increased the amount of mobile home loans and broadened possi bilities for guaranteeing loans on one-family con dominiums. economy is sagging; it's the people’s economy that's sagging. The people need food tax repeal now; not next year as the Governor proposed, and now has backed off of. Also - the Governor never was willing to face up to the necessity for shifting to some other and fairer taxes to make up for food tax repeal. The food tax csn be repealed now if you are not “hung up” about In mental honors were: BUSI- changing tobacco, liquor, NESS EDUCATION, Linda qj. income taxes on very Sprueill, Summerfield, incomes, any or all of their respective fields of N,C. and Glenda Sprueill ^hich could make up for major study, twenty-eight Simmons, Greensboro, the food tax Bennett College students N,C.; MUSIC, Bonita j ag.ee we ought to cut were honored by the Alpha Chavis, McLeansville, any fat from the State Epsilon Chapter of Alpha N.C.; SPECIAL EDUCA- Budget, and balance things Kappa Mu Honor Society, TION, LaVern Hicks Suggs, there, but not by taxing The awards were announc- Greensboro, N.C.; CLOTH- ^hat we eat. ed during the woman’s ING AND TEXTILES, college annual Recognition Angela Wilson, Greens- Chapel Service. boro, N.C. Among other Depart- r Jr-.xsWe J Taxpayers Ask lE^ This column of questions and answers on federal tax ter havmg deducted them matters is provided by the local office of the U. S. Internal years, sue as i Revenue Service and is published as a public service to taxpayers. The column answers questions most frequently asked by taxpayers. GREENSBORO recognition of outstanding academic achievement Q. As a result of a libe! suit, I won compensation from an editor of a publication who printed damaging editorial statements about me. Is this compensation taxable? A. Compensation for dam ages to your character or for personal injury or illness is not taxable. But punitive dam ages and compensation for lost profits are includable in in come. Q. I am the executor of a relative's will. When am ! sup posed to file a tax return for him? A. If you must file a final return as an executor, admin istrator or legal representative of a taxpayer who died during the year, the return is due on the fifteenth day of the fourth month after the close of the deceased taxpayer’s normal tax year. In most cases, this will be April 15. If you must file a return for an estate or trust, it is due on the fifteenth day of the fourth month after the close of its tax year. Q. I had a bad debt which I deducted in a previous year. However, I recently recovered the money from the debtor. How do I handle this on my tax return? A. Amounts you recover af- debts, medical expenses, taxes, losses, etc., must be included in your income in the year of recovery to the extent that the deductions decreased your tax in the year they were deducted. Q. Are campaign contribu tions taxable income to a can didate for office? A. Campaign contributions are not income to a candidate unless they are diverted to his personal use. To be exempt from tax, the contributions must be spent for campaign purposes or retained in a fund for use in future campaigns. However, interest earned on bank deposits, dividends re ceived on contributed securi ties, and net gains on sales of contributed securities are tax able and must be reported on Form 1041, U.S. Fiduciary In come Tax Return. Receives Hanes Foundation Gift BOSWELL YORK. R. PH. From The IRS GREENSBORO “Whenever someone ap proaches you, saying he or she is an employee of the Internal Revenue Service, it is not only your right, but also very much in your best interests, to ask to see IRS credentials,” Robert A. LeBaube, IRS District Director for North Carolina, warned today, “All IRS employees who contact the public carry distinctive identification,’’ he said, adding that, as a matter of routine, these persons are required to identify themselves when conducting official busi ness. “If you have doubts about the authority of the individual, even after seeing some form of identification, contact the nearest IRS office,” he advised. I read where the government is developing a mMimum allowable cost program for drugs. Do you think the program is any good? - J.D. The Maximum Allowable Cost program for drugs is another way of saying price controls. Government price controls on gasoline was a disaster. If the MAC program is established, two things will happen: (1) The burden of the cost of administering this program will be borne by you and me through additional taxes and (2) the quality of today’s medicines and the introduction of new medicines will deteriorate. Price controls on drugs will be a double disaster. Why shouldn’t nitroglycerine tablets be stored in plastic containers? - N.U. A pharmacist questioned the suitability of plastic containers and tests performed by the F.D.A. confirmed his suspicions. The nitroglycerine shifted into the plastic itself, causing the tablet to decrease in potency of almost 50 percent each day. This would render the drug useless in just a few days. Your pharmacist should dispense nitroglycerine to you in glass bottles. Do not accept anything else. My doctor prescribed an anticoagulant (blood thinner) called Coumadin and warned me not to take any other medication without calling him first. Why? - T.B. Virtually every other medicine (including aspirin, antacids, and mineral oil) will cause a change in your blood clotting time. The effectiveness of your anticoagulant medication will be increased or decreased when you take other drugs. Take his advice. Call him first. I have diverticulosis. My doctor prescribed meprobamate (equanil/miltown). I take one tablet three times a day. Friends tell me to take them only when 1 need them. What do you think I should do? - P.T. This medication is not used for treating diverticulosis. You should take this or any other medication according to your doctors directions — no more, no less, unless he knows. With so many drugs and chemicals today, the children being exposed to them, what should I do if one of my children took an overdose or poisoned hunself? - C.M. For a start, write for a counterdose and poison antidote chart which will tell you what to do first. Send 25 cents with your address on a long, stamped, self-addressed envelope to me, in care of this newspaper. IT’S AMAZING! EL'ZABErwi, men vvOCe COCSEf-r MADE iff /I'll h ik i/ ^' '"Am '' 55^ op SlBERlft Buy MIIK fR02EM, AuowiMG \-f-fb pRgere peoux fl WHICH fORMS n HflNDLfi' 0 CARBV lY hen OW A FftRM mEOR BERNE ^SWitiERLPiviO, t.PiiO SPx'ERAL SXRlPeO EQfiS ' C5l£»:k ANi> HEKS iOOK MIUK antlers IN CGmBAT \_OCX So 9ECuBEi_V Xmat THEy MOT uelease TwEMSELv/ES eiLWCiVS COSTS QoTm 82.'^^. TWElB uves" N AN EM&LiSh FliE PAllrvi -TMEEe 1=, A /^>^CC00A» «=> WOT Am expeet SKPiTEI?!! TH/S IS Your Paper USE IT HOME FEDERAL SmiGS Greensboro, N. C. Register Now! FREEZONE IS FOR CORNS THAI HURT. Why fool around with painful corns, when Freezone can help you remove them. Try • ^ VAi»*ll Im ill** ^ it. You’ll see. In just days, the corn will u . - cutting. ... pads or plasters. Drop on freezone— be gone... the hurt will be gone. Pain- lessry. No dangerous cutting. No ugly pads or plast'" - - take off corns RCMOnS COtNS AND CAUUSCS ARE ALL OF YOUR BANKING NEEDS HET? Is your savings, checking, and borrowing established at your home town bank? See the people at: 100 NO«TH MAIN CAU 882-2576 WINSTON-SALEM - Mr. C.C, Ross, Chairman of the Winston-Salem State Uni versity Board of Trustees, has announced the Univer sity’s acceptance of a gift from the Hanes Founda tion. The Hanes Founda tion is making a gift (of an undisclosed value) of a landscaping project for the site of the new auditorium that is under construction on cai.ipus. The project iiftcludes plans for a sculpture garden that will feature works by outstand- PATRONIZE YOUR ADVERTISERS ing Black artists. Works of art are to be added periodically through the years. The University has also accepted a gift of sculp tures and a painting from the Delta Sigma Theta Sorority - Fine Arts Board. The works of art, currently displayed in the O’Kelly Library on campus, will be part of a permanent exhibit in the foyer auditorium. Mr. Ross also announced that the Board voted unanimously to honor the University’s Chancellor by naming the new auditorium and garden, Kenneth R. Williams Auditorium and Sculpture Garden. Dr. Williams, has served the University community for more than thirty years. Arthritis Sufferers: WAKE UP WITHOUT of the new ALL THAT STIFFNESS! New formula for arthritis minor pain is so strong you can take it less often and still wake up in the morning with out all the pain’s stiffness. Yet so gentle you can take this tablet on an empty stom ach. It’s called Arthritis Pain Formula. Get hours of re lief.-Ask for Arthritis Pain Formula, by the makers of Anncin^ analgesic tablets. DON’T DELAY SAVE TODAY!! DAILY COMPOUNDED INTEREST “IF« A re The Saving$ Sp«ciali$t$’* Accowit*Inrartd To $>0,000 By rSLIC No NoUc. B«,uk.d For WHh*|y«l PLENTY OF FREE PARKING ]>RIVE-IN WINDOW CALL 883-4116 ^ 700 NORTH MAIN STREET • Horn* Loam$ To Buy Or Build "YbuVe always thdig^ you were a Good NeiddKn: Nowproveit. CJoinU^) There are a lot of jobs to be done in this world, helping people in trouble, in pain, in distress. Artierican Red Cross takes on more of these jobs than any body. Surprised? + Remember: Red Cross is more than blood drives. It's more than helping the thousandsof victims of disasters. In fact, American Red Cross tackles over 100 different kinds of "Helping People” jobs —in the city, the suburbs wherever you are. We need money, it’s true, so we can go on offering all our free services. But we also need hearts. And hands. And conviction. Call your local chapter. Join us. Jhe American Red Cross. TheGo^ Ne^ghboc A Putic Sm«n d Nnwwar > tlaAdMfiwngOewd
The Tribunal Aid (High Point, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
April 2, 1975, edition 1
2
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75