an accountancy corporation

                                   

Member
American Institute of
Certified Public Accountants

• Excerpt from a court proceeding:
Q:  Were you present when your picture
      was taken?
A:  Would you repeat the question?

• Tax deferred "1031 exchanges":
The tradeoff between a deferring tax but
eventually paying it at a higher rate, and
paying more frequently at a lower rate,
is a bigger concern for people in a
higher tax bracket.  Also concerned
should be people with investments in
qualified retirement accounts, such as
IRA's and 401(k)'s, who do not anticipate
drastic reductions in their income at
retirement age when they have to reach
out and draw from such retirement
accounts.

• Warren Buffet (Part 2 of 5)
He drives his own car everywhere and
doesn't have a driver or security people
around him.  He never travels by private
jet, though he owns the world's largest
private jet company.

• Driving:  Have you ever noticed?
Anybody going slower than you is an
idiot, and anyone going faster than you
is a maniac!

• For more of the Generalist,
please visit ARKCPA•COM.

• theGeneralist, a one-page monthly
publication of the accounting firm of
A. R. Kakhsaz Company, is in its 14th
year of providing information, presented
fairly and accurately, from sources we can depend upon and trust.

• Freeze your credit reports so that
no one can get access to them without
your explicit permission.  It'd a good idea
in preventing your identity theft.  Some
70,000 people have done so, already.
Experian, TransUnion and Equifax offer
credit freezes nationwide.  You can send
a letter to each of the three major credit bureaus to place a freeze.

• The median income of college
graduates is now 62% higher than that
of high school graduates.

• Law school graduates:  For those
from elite law schools, prospects are
good.  Big law firms have boosted their
starting salaries to as high as
$160,000.  But those graduates who
don't score at the top of their class are
struggling to find well-paying jobs.

• Doesn't "expecting the
unexpected" make the unexpected
expected?

• Some 22,500 licensed income-tax
preparers - that's about 5% - have not
complied with their own individual tax
obligations.

• Why do "overlook" and "oversee"
mean opposite things?

• We see more in numbers
than just numbers...

Ali R. Kakhsaz, CPA, MAcc

www.arkcpa.com