| 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
|
Charitable deduction abuses:
More than 41 million individual
income-tax returns claimed
charitable donations for 2006.
Their donations totaled a record
$173 billion. That's up 0.6% from
the prior year. A recent criminal
case involved two men who
pleaded guilty to criminal
misconduct involving donations to
a variety of charitable groups
operating under the umbrella of
Spinka, a religious group within
orthodox Judaism. One was Rabbi
Moshe E. Zigelman of Brooklyn,
N.Y. The other was Joseph Roth,
a Tel Aviv-based banker. They
were among eight individuals and
five charitable entities who
solicited donations to
Spinka-related groups by promising
to secretly refund up to 95% of the
"contributions." In some cases,
contributors got cash payments
through an "underground money
transfer network" involving parties,
some of whom operated
businesses in and around the Los
Angeles jewelry district. Mr. Roth
admitted to facilitating tax evasion
by setting up secret bank accounts
in Israel involving the use of bogus
trusts.
Rising
temperatures could
wipe out over half the earth's
species in the next few centuries,
says a U.K. study of past
extinctions.
Canada is banning
incandescent
bulbs in 2012 to cut global warming.
After years
of slow growth, the
oral-care market is expected to pick up
as baby boomers age. Also, toddlers'
teeth are rotting significantly more!
Excerpt from a court proceeding:
Q: So the date of conception (of the
baby) was August 8th?
A: Yes.
Q: And what were you doing at that
time?
A: Uh
..
For more of the Generalist,
please visit ARKCPACOM.
|
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.
A new law enacted on June 17,
2008, makes certain high-net
worth individuals who renounce
their U.S. citizenship or relinquish
a green card subject to an "Exit
Tax" regime that includes an
"Inheritance Tax" on gifts and
bequests received by U.S.
persons from such individuals
who expatriated or their estates.
There's a sign on a fence saying:
"Salesmen welcome! Dog food is
expensive."
Remember Janet Jackson's
breast flash during the Super Bowl
in 2004 and all ensuing hooplas?
Well, recently, a federal appeals
court threw out the FCC's
$550,000 fine against CBS for
airing the event.
Urban Chinese are
overwhelmingly happy with the
country's economic and political
progress.
Smoking by drivers, has been
forbidden in New Delhi for over a
year now.
Mother to her teenage daughter:
I think it's time we should talk about sex.
Daughter (excitingly): Sure mom, tell me,
what do you want to know?
Politician: One who shakes your
hand before elections and your
confidence after.
Genetics evidence supports a
theory that Columbus and his crew
brought syphilis to Europe from
the New World.
We see more in numbers
than just numbers...
-
Ali R. Kakhsaz, CPA, MAcc
www.arkcpa.com
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