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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Mar 07, 1972
Page
10
The IRS notes that most Americans can handle income taxes yet a booming sector thrives. H R Block earned nearly $9 million last year as millions used paid preparers. Tax guides and courses feed revenue, with publishers selling guides and colleges offering courses. Lawmakers consider licensing or registration for preparers as pressure to regulate grows.
Annuities provide guaranteed income but deplete principal, while mutual funds offer potential growth with ongoing withdrawals. Immediate life and refund annuities cost around 14 500 to 16 200 for a 100 monthly income versus 16 200 in mutual funds yielding about 6 percent withdrawal. Growth assumptions affect sustainability. 7 percent growth with 6 percent withdrawals can preserve or grow principal, but a market drop 30 40 percent risks capital. The choice hinges on risk tolerance, need for heirs, and expectations for fund management.
Morganton North Carolina deputies raided an abandoned barn cockfight Sunday detaining 33 of the roughly 200 spectators. The others fled through damaged walls and windows. Those arrested were released on 50 dollar bonds.
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