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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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"NO ONE WHO HAS WITNESSED TAX LOBBYISTS'
perennial infestation of Capitol Hill can ever again confuse the making of tax laws with the
making of sausages. At least when you make sausages, you know the pigs won't be coming
back, quips a U.S. Treasury official.
PATIENTS WITH HEART DEVICES WILL BE able to send cardiac data to cardiologists via the
Internet. That's the plan of a joint venture of Medtronic, Microsoft and IBM.
TAX-PLANNING IS A YEAR-ROUND ACTIVITY, not a once-a-year task. Consult your CPA on
every major financial or business decision you're about to make. They affect both your taxes and
financial statements!
EVERYTHING COMES BACK IN FASHION: Now, mustaches are back. "The mustache looks
really cool again," says a New York clothing designer. After the running long and straight, nifty
sideburns of the '80s and the ponytails of the '90s, a mustache has now become the inevitable
men's accessory for the year 2000. The growing number of American men wearing mustaches
tops ten million. The preferred style is the Stalin's.
IN A "FAIR AND COMPASSIONATE" PROPOSAL by the Clinton administration, Holocaust
payments would be exempt from income taxes to the victims and also their entire families. The
plan would include property confiscated from 1933 through 1945 in Nazi Germany as well as
in countries controlled or occupied by the Nazis.
DENNIS HOOD OF INDIANA, A 42-YEAR-OLD father of two, left the house to go to work promptly
at 7:30 every morning. He told his wife that he'd lately found a new job at a hardware store.
Instead, police say, Mr. Hood spent his days robbing small stores at gunpoint. He had
apparently ended his alleged crime spree after finding work at the hardware store. Soon after,
however, a customer who walked into the store recognized him as the man who held her up two
weeks earlier. Mr. Hood admitted to nine robberies.
EVERY YEAR SOME 40% OF EMPLOYEES' workspaces and cubicles are relocated by about
one-half of U.S. businesses. Each move, including rewiring for phones, computers, and
furniture, costs employers an average of $1,200. Manufacturers' moving costs are the highest, at
nearly $1,700 per office space. |
- U.S. HOME PRICES: As families shrink in size
and the population ages, demand for large single-family homes is expected to decline.
While a record 67% of American households own their homes and home equity accounts for 24% of
household net worth, many heads of households depend on appreciating home prices to pay for
their children's college and their own retirement. The price of the average U.S. home is expected to
appreciate at an annual rate of less than 4% over the next decade.
ANOTHER ARGUMENT YET: He argued that the U.S. income-tax law violates the 13th
amendment, which bans slavery and "involuntary servitude" except as punishment for a crime after
one has been convicted. Again, the Tax Court did not agree!
LIVE AUTO-AUCTION HOUSES; NO MORE? Autodaq Corp, an Internet site, is launching a
wholesale auto auction that allows car dealers to search online for specific vehicles and gives
sellers access to buyers nationwide. Dealers have access to an online inventory of vehicles
24 hours a day, where sales and purchases occur.
5,679 JUMBO-SIZE CONTAC COLD CAPSULES would fit into a new VW Beetle, guessed Billy
Thompson of Arizona and won the car plus a one-year supply of the cold capsules.
AN $8.8 BILLION BUDGET HAS BEEN REQUESTED for the IRS's year 2000, up from about $8.1 billion
for 1999.
IMMINENT TAX-ATTACK ON SWAP FUNDS: Wealthy investors with large holdings in a
substantially appreciated stock who want to diversify without getting hit by capital gains taxes,
exchange their appreciated holdings of one or few stocks for units of a diversified pool of stocks,
commonly referred to as a swap fund, in a tax-deferred transaction. The Clinton
administration is considering proposals to ban these rapidly growing funds. These funds,
typically, require very high initial and minimum investments. A less expensive one requires a
minimum investment of $500,000. Stock brokerage houses also must be unhappy!
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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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