| 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
|
The
U.S. economy has a twice as high a chance as it
did a year ago to be in a recession within a year. With high energy
prices, consumers heavily in debt and the overextended housing market, the
U.S. economy could prove susceptible to an unexpected shock.
When is your "Tax Freedom Day?" The
average American taxpayer had to work 116 days to pay their annual tax
bills for the year 2006. Taxpayers started earning for themselves
beginning on April 26, 2006.
Corporate boards
are increasingly imposing performance targets on their
CEO's stock and stock options, amid complains about excessive executive
pay. Last year, 30 out of 100 major U.S. corporations based a portion of
the equity granted to their CEOs on company results.
Depression:
Anger without enthusiasm.
As the IRS intensifies
its focus on audits, collections and criminal investigations, the Taxpayer
Advocate Office urges more should be done to combat tax cheating in the
underground economy. According to its report "cash
economy" may exceed $100 billion a year.
Just-in-time inventories
at hospitals will make the country vulnerable in a pandemic. Low
stockpiles of drugs and medical supplies boost efficiency but leave no
extras badly needed in the event of a pandemic flu outbreak. That's
especially perilous when 80% of raw materials for U.S. drugs come from
abroad. In the event of a pandemic flu outbreak, thousands of
drug-company workers in the U.S. and elsewhere could be sickened,
prompting factories to close. Truck routes could be blocked and the
boarders may be closed. The result will be shortages of important
medicines - such as insulin, blood products or anesthetics used in surgery
- let alone shortages of medicine to treat the flu itself.
For more of the Generalist, please visit our website
at ARKCPACOM.
|
theGeneralist,
a one-page monthly publication of the accounting firm of A. R.
Kakhsaz Company, is in its 12th year of providing information,
presented fairly and accurately, from sources we can depend upon and
trust.
Poor
and working-class Americans are less likely to save.
Here's the percentage of families with retirement accounts by income
level:
| Bottom 20% |
13% |
| Next 20% |
33 |
| Middle 20% |
53 |
| Next 20% |
76 |
| Top 20% |
86 |
Why do people point
at their wrist while asking for the time? I know where my
watch is pal, where's yours?
The
IRS has urged Congress to require financial-services companies,
such as brokerage houses, to report to the government what investors
pay for their stocks and mutual funds. Many people are
suspected of overstating their costs and thus understating their
gains on their stocks and mutual fund transactions, according to the
IRS. Estimates of the government's losses from unreported
capital-gain taxes range in the tens of billions of dollars a year.
Toothache:
The pain the drives you to extraction.
Top-ten U.S. university endowments
for fiscal year 2005:
| Harvard |
$25 Billion |
| Yale |
15 |
| Stanford |
12 |
| U. Texas |
12 |
| Princeton |
11 |
| MIT |
7 |
| U of Calif. |
5 |
| Colombia |
5 |
| Texas A&M |
5 |
| U. of Michigan |
5 |
ACCOUNTANT: Degreed and
experienced, cash flow/budgeting and internal control
procedures. Contact A R Kakhsaz Company, 20501 Ventura Blvd.,
Suite 310, Woodland Hills, CA 91364 Attn: HR Dept. or fax
resume to (818) 713-0980.
We see more in numbers
than just numbers...
Ali R. Kakhsaz, CPA, MAcc
www.arkpca.com
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