Apr 1993 - On-Line Newspaper Archives of Ocean City

B2
THe8£tmN£L-lB>QBt OoMnCky, NJ. Thursday, Apm«,1993
Tax-advantaged investments seen more attractive under Clinton tax plan
If President
Clinton's tax package,
emerges from Congress
intact, it is dear that tax-advantaged
investments and
even stocks may look more
attractive to.investors seeking
investment alternatives
with lower tax burdens. * , make tax-exempt invest-
; Two of the more publi- ments even, more attractive,
dzed tax increases in-die The'higher the income, of
- Clinton plan include a new the investor, the better tax-
36 percent bracket affecting exempt municipal bonds
individuals, with taxable- and tax-deferred annuities
income exceeding $115,000 will look,
and couples with taxable According to Karp,
income of . more . than municipal bonds have long
$140,000. This is up from been a vehicle that helps
the current top rate of 31 investors minimize their tax
Increase in savings and
Investing will now/ be more
important than ever
percent
burdens. Interest produced
The second increase is a by municipal bonds is free
10 percent surtax on taxable ..from federal. income tax
incomes of both individuals and,- depending on your
and couples making-more-state of residence, possibly
than $250,000 bringing the from state income tax, too:
tax bracket for the wealthi- Today, AAA rated
est taxpayers to 39.6 per- municipal bonds maturing,
cent.
in 10 years currently offer a
"With a possible new yield to maturity of approxupper
tax bracket and a sur- innately 4.90 percent An
tax on taxable income, of investor in today's top tax
I
STORM WINDOWS & DOORS
MIRROR WORK • SHOWER 3f 2 Asbury Ave.
DOORS • VINYL REPLACEMENT OcMD City, NJ
WINDOWS • SCREEN REPAIRS ^ ^ • "' '
S REPLACEMENT
A Surplus Food Commodities
distribution will be held at the Ocean
City Youth Center at Sixth Street and
Atlantic Avenue, Ocean City, New
Jersey on April 15,1993, from 11:00
AM to 2:30 PM. Registration forms for
this distribution are available in the
City Clerk's Office, Ninth Street and
Asbury Avenue, Ground Floor for
New Registrants. New Registrants
must have AFOC, WIC, SSI or
Medicaid Cards, be receiving food
stamps or meeting income eligibility
guidelines. This distribution is being
sponsored by the New Jersey
Department of Agriculture.
Angela H. Pileggi
City Clerk
Ocean City, New Jersey
•;'. • tax-deferred earnings over
a longer period of time.
v An annuity is a contract
with an insurance company
in which an investor depos-
•_, its a sum-of money for a
' specified period of time.
There are two stages to an
investments to their portfo- annuity: the accumulation
libs," Karp said,
period, when the investor's
Karp noted investors annuity grows on a.taxrdelooking
for tax-advantaged ferred basis; and the Income
investment Alternatives period, when the investor
should also consider aniiu- starts receiving payments,
ities. An annuity provides '- However, if the investor
investors seeking to mini- withdraws funds from die
mize their tax burden with annuity before age 59V&, the
business briefs
LONGO NAMED
SILVER CUP JUDGE
OCEAN CITY — Shoe
Service • magazine' recently
selected Frank Longo of
Frank's Shoe Clinic here to
serve as a judge in its 1993
Silver Cup Contest.
Shoe Service editor
ADEZIO RECEIVES
TOURISM AWARD
OCEAN CITY — Karan
Gambale' Adezto, owner
and president of Image
Consultants/ Inc., was
recently honored with me
1993 Governor's Conference
on Tourism Advertising
Award for the
income withdrawn is,subject
to a 10 percent federal
tax penalty in addition to
. any penalties agreed .tfpon'
in the contract.
'••' Even, though investors
Have responded: to
Clinton's proposals by
' rushing', into the tax-free
bond market in. droves,
stocks still can provide/an
..excellent growth investment
for long-term; investors,
A.G. Edwards' Chief
Economist Raymond
Worseck noted.
"The Clinton proposals
office in the James J. Coulter
Media Center at Cape May
County Schools for Special
Services.
In addition to donating
the equipment to update
and expand the system, he
also took the time, to make
changes.which allows the
television network to handle
two channels at once.
more that $250,000, inves- bracket of 31 percent would Mitchel Lebovic: said w
tors affected by these have to purchase aNSabte Longo, who is a 1985 win- development of the Visitor
ner ot me
increases would be smart to bond with a yield to matuN < Grand Silver Information
look now at tax-advan- rity of 7.10 percent to ^Sup^was selected to judge Network.
MA\
taeed or tax-free invest- receive an equivalent yield, the eontcst brcause of his This category
ments," said Lawrence However, if the investor's craftsmanship -—*--—«*•--'« and commit- "- awardment
to the shoe repair given for
is
Karp, Co-Manager-In- tdx rate climbed to 36 per-
Charge of A.G. Edwards' cent, he or she would, need industry.
media proinvesting
in tax-exempt proposed tax rates, upper-
office here. • to find a taxable bond with The Silver Cup Awards grams
Even under the current 7.66 percent yield to matutax
structure, many mid- rity for an equivalent craftsmanship and mer- either a gen-
recognize excellence in directed to
die-income investors have return,
chandising in the industry, eral audience
realized' the advantages of "As a result of the higher GLEMBOCKI IS
or a particu-p
municipal bonds. The income investors should
COLLEGEGRAD.
lar market segment mat
enhances the level of tour-
Clinton proposals will consider adding tax-free MASON CITY, la. — Col. km to New Jersey.
Eugene L. Glembocki was with over 2f yean of ing
VEIT PRODUCTS
ALUMINUM
among 63 students who experience in the visual Colombia, ,:.•
recently completed courses communications and adverand
graduated from the Using production industry, and Kenya, s
Peru. Bolivia
Wide World College of Adezio began five years East Africa.
Auctioneering here.
He gradu-l
Most Glass Repairs
CoL Glembocki received tractin* with local hotels to ated from
Done In 48 Hours
training in all4>hases of auc- provide the closed circuit
tioneering.
391-0790
equipment necessary to
He now qualifies
to con-
broadcast VIN.
duct any and
• I.• XhZA* aH*f - '