Originally created 03/10/02

Pocket change



EMPLOYER SPOTLIGHT

CASTLEBERRY/SNOW'S BRANDS INC.

HEADQUARTERS: 1621 15th St., Augusta

PRESIDENT: Robert P. Kirby

LOCAL EMPLOYEES: 350

PRODUCTS: Canned stews, barbecue, chilis, clam chowder

BRANDS: Castleberry's, Snow's, Doxsee, Bunker Hill, Austex

RECENT NEWS: Received a $300,000 state grant to help expand its 15th Street food plant, which is taking on production from the Bedford, Va., facility when the company closed in 2000.

TAX TIPS

Figuring out capital gains tax

Almost everything you own and use for personal purposes, pleasure or investment is a capital asset. The IRS says that when you sell a capital asset, the difference between the amount you sell it for and what you paid for it is a capital gain or a capital loss.

While you must report all capital gains, you may subtract only your capital losses on investment property, not personal property.

Capital gains and losses are classified as long-term if you hold the asset more than one year, or short-term if you hold it one year or less.

BIZ BITES

Pay delinquency

rates near record The Mortgage Bankers Association says 4.65 percent of home loans were at least 30 days past due in the last three months of 2001.

The bad news is that the delinquency rate - the percentage of house payments that are 30 or more days past due - is near its highest level since the 1991 recession.

The good news, which really isn't so good, is that the delinquency rate peaked in the three months that ended on Sept. 30 and actually declined slightly in the last three months of the year. The delinquency rate fell from 4.87 percent on Sept. 30 to 4.65 percent on Dec. 31.