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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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DOCTORS WROTE 2.5 BILLION
PRESCRIPTIONS that were filled at retail pharmacies in 1998.
That's up 6% from a year earlier. The total cost of the prescriptions rose 13% to $93.5 billion.
DIABETES IS LINKED TO A
SEDENTARY lifestyle. A Harvard study of more than 40,000 men found that those with the lowest physical
activity were more than twice as likely to get Type 2, or adult-onset, diabetes as men with highest
physical activity.
AMERICANS ARE INCREASINGLY
PAYING higher taxes because of a number of tax-provisions, often referred to as stealth, or
backdoor, tax increases. For instance, the various limits on how much may be claimed in personal
exemptions or itemized deductions or, of course, the infamous Alternative Minimum Tax ("AMT")
which is not even indexed for inflation. Nearly 600,000 individual income-tax returns were hit by
the AMT for 1997. Up from only 132,000 in 1990. Unless U.S. Congress makes major changes to
the tax-law, more than nine million people will be hit by the AMT by the year 2009.
DISPROPORTIONATELY MORE
WOMEN than ever before have filed for bankruptcy-protection during last year in the U.S. - 39% in all, of the filings have
been by women!
A NEW IRS DIVISION WILL
OVERSEE corporations, S corporations and partnerships with assets of more than $5 million. The division
will have about 8,600 employees.
EVERY YEAR, WHILE WORKING ON
YOUR federal and state income tax planning and preparation of your tax returns, we make sure that
all pertinent income tax deductions and credits have been considered and utilized to your
advantage. Why? Because we know that it is your right (as it is our job) that you pay the least amount
of taxes.
THE FEDERAL GOVERNMENT PLANS
TO spend $29 billion a year on highways through 2003.
WITHOUT FAST ACTION, SAVING
SOCIAL Security and Medicare is "something our kids are going to pay for," warns Senator
Nickles.
PAID-PREPARERS OF INCOME-TAX
RETURNS signed 56% of all individual returns filed with the IRS through April '99. That's up from 54% a year
earlier. The increase is said to be due to more complexities in the tax laws.
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GREATER PACIFIC HMO OF
IRVINE, CALIFORNIA, a 2,200 member health plan was court-ordered to
surrender its control to State officials due to financial and operational irregularities.
SERVICE JOBS ACCOUNT FOR 73% OF gross domestic product in the U.S.
"DEMOLISH THE DEATH TAX" CAMPAIGN by the construction industry sends reporters toy
construction vehicles and says estate-tax hurts family-owned companies.
A RECENT SURVEY OF 200 EXECUTIVES ON reasons for resigning has a top seven strangest
reasons: (1) The building temperature is much too cold, (2) I had to go to jail, (3) I had a vision
and was told to resign, (4) to study Spanish in Brazil, (5) to start a worm farm, (6) to hunt for
fossils, and (7) there was a demon residing in our computer network.
THE TAXPAYER RIGHT-TO-KNOW ACT AS proposed by New York Senator Charles
Schnmer, would require the IRS to publish on the Internet how the federal government spends tax monies.
There's "a great deal of uncertainty" among taxpayers about where and how their tax
payments are spent, says Senator Schumer.
THE INTERNET IS RAPIDLY REPLACING
television as the primary source of news and information.
TAXES ARE DRY, ARCANE AND DIFFICULT, but tell me a person's philosophy of taxes and I
will tell you his or her philosophy of life," writes U.S. Congressman Charles
Rangel, referring to the Republican tax-cut proposals as "more a set of talking points than a real tax plan."
A KINDER AND FRIENDLIER IRS MEANS THAT "we'll give you a warm handshake. We just won't
let go," says Marcus Owens of the IRS
LEARNING YOUR / MY LANGUAGE BOOSTS profits: A Dallas home-furnishings retailer with
some 1000 employees has started teaching Spanish lessons to its executives, while
employees in its warehouse take courses in English.
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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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