| 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 person of the year is You:
The annual honor of 2006 person of the year of Time magazine went to each
and every one of us as "the citizens of the new digital democracy."
Richard Stengel, the managing editor of Time, said if the magazine had
decided to select a single individual, Iranian President Mahmoud Ahmadinejad
would have been the likely choice. But "it just felt to me a little
off selecting him." A
sign on an electrician's truck says: "Let us
remove your shorts."
U.S. drivers want more
gasoline. U.S. companies that refine it from
crude oil are minting money. But they do not build refineries in the
U.S. because the numbers work better abroad, where costs and red tape are
reduced and where expected demand growth is even higher than the U.S.
Into that economic mix is a billionaire, Mr. Mukesh Ambani on India, who in
partnership with Chevron Corp. of California, are building the World's
largest refinery complex in northwest of India near Pakistan. The U.S.
imported about 13% of its gasoline needs in 2006, up from 12% in 2005
and less than 8% in 2000. In all, American drivers use almost half of
the gasoline burned in the world each day. The Indian refinery
project, when finished, will load 14% of the fuel it turns out onto huge
tankers for a 9,000 mile trip to America.
Experts from a court proceeding:
Q: What is your date of birth?
A: July 15th
Q: What year?
A: Every Year.
While 130 million individual
income-tax returns were filed for each of the
four years of 2000-2003, only about 2% of them reported income of $200,000
or more:
| Year |
Returns |
| 2003 |
2.5 Million |
| 2002 |
2.4 |
| 2001 |
2.6 |
| 2000 |
2.8 |
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 13th year of providing information,
presented fairly and accurately, from sources we can depend upon and
trust.
Social Security
(Part 4 of 4): In the 1930s, while the U.S. still was
suffering from the Great Depression, it became evident that senior
citizens were among those most adversely affected. As a part
of his New Deal, President Franklin D. Roosevelt introduced the
Social Security System, with the goal of keeping elders above the
poverty line. There was not then, nor has there ever been, any
intension that Social Security would be a retiree's sole income.
The program was designed to provide a safety net to ensure that
senior citizens could maintain at least a minimum standard of
living. The bulk of the retirement living expenses always has
been from other sources such as personal savings and investments and
pensions. Consider your health and other sources of income,
among other things, on deciding whether to take your Social
Security benefits early, or at full retirement age, or later.
And be aware of the tax implications of earning wages while
receiving Social Security benefits.
Arctic core samples show temperatures hovered
at 74 degrees in a long run of natural global warming 55 million
years ago.
Unequal burned of
obesity: U.S. teenagers living in
poverty have grown fatter at a higher rate than their peers.
The percentage of adolescents age 15 to 17 who are overweight is 50%
higher in poor as compared to non-poor families.
Something lost in
translation: A sign in a hotel in Athens
reads: "Vistors are expected to complain at the office between
the hours of 9 and 11 a.m. daily."
We see more in numbers
- than just numbers...
Ali R. Kakhsaz, CPA, MAcc
www.arkpca.com
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