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A. R. Kakhsaz Company
an accountancy corporation
Member
American Institute of
Certified Public Accountants
International associates:
Tavana
& Co.
Chartered Accountants
Toronto, Canada
Tel.416-229-2221
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the Generalist
is the name finally assumed for this one-page monthly publication which has
been published over the past five years under the generic name of News, notes and analyses.
We are proud that the Generalist has been well received by our clientele of businesspeople and
professionals as well as the business community at large.
CASH PAYMENTS TO
PROSTITUTES BY A MAN for research in writing a book were not allowed as tax deductible. The Tax Court judge described
the deductions as "so personal in nature as to preclude their deductibility."
RETAILERS BEWARE THAT THE
RIGHT
combination of in-store position, price and display WILL result in people's fuller shopping carts. A
recent extensive research finds that impulse buying is strong as ever. Unplanned purchases
account for more than two-thirds of items bought by people during major shopping trips. Even
when running small errands, 54% of the items purchased are impulsive, reveals the study. The
researchers say they are surprised that their findings confirms a benchmark study conducted
30 years ago. Shoppers are heavily influenced by displays, especially at the end of aisles, implies
the study.
PAID-PREPARES OF
INCOME-TAX RETURNS obtain a "truly remarkable" customer satisfaction
rating. In a nationwide poll, 96% said they were satisfied with their paid preparer and only 3% said
they were unhappy. Hardly any other professional services have only 3% of dissatisfied users.
THE NUMBER OF PEOPLE
SITTING FOR THE CPA exam fell 15% between 1990 and 1997, while the
number of public companies needing CPA services in the United States grew by 30%.
THE "POETRY IN
MOTION" CAMPAIGN HAS placed poems in New York subways since 1992.
Now, an ad for the Scotch whiskey Chivas Regal says: "Our idea of Poetry In Motion is a glass
rising to the lips."
NO NAMES MENTIONED ? !
Senator Grassley of Iowa says, " There are people in the White
House who are intellectually honest, and I'm not going to mention any names."
THE INTERNET GAINS 11,000
NEW USERS A DAY.
THE AVERAGE INCOME OF
INTERNET USERS IS $69,000 per year.
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THE NEW TAX-EXEMPT
DIVISION OF THE IRS, one of four new operating units in the IRS's
sweeping reorganization plan, will become operating in early 2000. Its responsibilities will
include more than one million tax-exempt groups, such as charities and schools, as well as about
350,000 religious groups. It will also oversee tax matters of more than one million private and
public retirement plans, 86,000 federal, state and local government entities, 559 Indian tribes and
many tax-exempt bond issues.
RICH DADS WHO LIVE A
MISER LIFESTYLE MAY have it their way, comes to child support: In a 1998 case, a Court of Appeal ordered the trial court to
severely restrict discovery of a noncustodial father's financial affairs in a child-support action in
which the father had an extraordinarily high wealth and income and had volunteered to pay
reasonable support. The case involved a divorced-mother who served the rich dad with an
extensive document production request. The father sought and was granted a protective order
that relied on an earlier ruling where detailed discovery was found " irrelevant " to the amount of
the child support in the case of an extraordinarily high-earning parent who had agreed to pay
reasonable support comparable to his own lifestyle, regardless of his wealth or income. The
court defined an extraordinarily high-earner as having an income of $1 million or more a year.
Child support in California is, ordinarily, determined under uniform child-support
guidelines by an algebraic formula taking into account such factors as income, mortgage
interest, real property taxes and time-share percentages.
ASSUMING YOU HAVE THREE
DEPENDENTS, in completing the line on your tax return that asks how many dependants you have, any of the
following answers would go: "Three, four, around 27, I don't recall, or it depends on what you mean
by 'dependent.'" That's according to the "Clinton Accuracy Standard," says humor columnist Dave
Barry.
FOR THE GURU
TAX-ACCOUNTANT: THE U.S. Tax Court has opened a Web site that is helpful
and user-friendly, with the court's rules of practice and procedure and all 1999 opinions.
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WE SEE
MORE IN NUMBERS than just numbers… We see opportunities for you.
WE SEE
MORE IN NUMBERS than just numbers… We see opportunities for you.
Ali R. Kakhsaz, CPA, MAcc
www.arkpca.com
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