an accountancy corporation

                                   

Member
American Institute of
Certified Public Accountants

THIS CHARITY IS REAL GOOD FOR AMERICA:  That's real as in real-estate.  As aspiring homeowners spend years saving for a down payment, some home-builders have started to pay for their down payments and take charitable deductions for them.  It works like 1 2 3 :  (1) Realtor, lender or current home-owner, i, e, seller, tells buyer about a charitable down-payment gift program.  (2) Buyer uses the gift to cover down payment and buys the house by using FHA-guaranteed loan.  (3) Seller reimburses the charitable organization or other gift-provider in the amount of the gift, plus a small fee.  Such deals are proliferating as some 17,000 Americans per month become home-owners through similar programs.  That amounts to 3% of U.S. homebuyers, enough to affect market dynamics for all involved, from buyers to sellers to lenders.

UNPROTECTED AMERICANS:  The 43 million Americans who do not have health insurance are from households with annual income of:

IN 1991 WOMEN BECAME THE MAJORITY OF accounting graduates, and over the past decade, the trend has continued upward, reaching 58% in 2002.

INSIDIOUS EFFECTS of Bush's stimulus package:  Mushrooming budget deficits will boost long-term interest rates and inflation, which will in-turn hinder U.S. economic growth and ability to pay for the Baby Boomers' retirement.  Although exempting dividend income from taxation may be politically convenient, a more prudent and potent move would be to allow corporations to deduct dividends from their profits in computing their taxes, and to have investors continue to pay taxes when they receive them.

WANT BACK ISSUES OF theGeneralist ?  Go to our Website:  ARKCPA.COM

ECONOMISTS from the increasingly influential school of behavioral economics have now demonstrated that people frequently act in ways contrary to their best economic interests.  That's a shake-up to the traditional assumption that individuals are rational and profit maximizing.  That assumption has been the foundations of the Laissez-faire economic model by Adam Smith, the grand daddy of modern economics.  How does this reconcile with the concept of privatizing Social Security, as proposed by the Bush administration?

U.S. CONGRESS NOW HAS A RECORD 22 Hispanics in the House of Representatives and 37 blacks (one more than last year), while now an unprecedented 14 women are among the Senators.

DIPLOMAT:  "A person who tells you to go to hell in a way that makes you eager to start the journey."

Abigail Van Buren (Dear Abby) said she was at a total loss to reply to the following actual letter:

Dear Abby:

Our son writes that he is taking Judo.  Why would a boy who was raised in a good Christian home turn against his own?

theGeneralist, a one-page monthly publication of the accounting firm of A.R. Kakhsaz Company, is in its ninth year of providing information, presented fairly and accurately, from sources we can depend upon and trust.

THE ECONOMIC RECESSION OF 2001 HAS BEEN particularly hard on the bottom 40% of U.S. families.  Here's the percentage annual increases / (decreases) in family income:

	Average	Bottom 40%
1991-1996	1.9	0.6
1996-2000	2.9	2.7
2000-2001	-1.1	-2.6

MEDICAL ERRORS OFTEN ARE RESULTING FROM improper dosages, caused by such things as miscalculating weight conversions from pounds to kilograms or the constant interruptions in emergency rooms.

U.S. EXPORTS ARE 10% OFF THEIR LEVEL OF TWO  years ago, as the U.S. trade deficit is on pace for its widest annual trade gap on record.  Sluggish world economy is cited as the reason.

FROM 1997 TO 2001 the number of U.S. families spending more than half their income on housing rose 67% to over four million.

FEDERAL INDIVIDUAL income-tax collections of last year tumbled to $858 billion from $994 billion the prior year, a decrease of 14%.  Corporate income tax payments fell to $148 billion from $151 billion.  And payments of estate taxes dropped to $27 billion from $29 billion the year before.

WE SEE MORE IN NUMBERS than just numbers… We see opportunities for you. 

Ali R. Kakhsaz, CPA, MAcc

www.arkpca.com