| 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
|
Last words before camera:
Some people have found a way to
breathe life into dry estate
planning documents. They're
supplementing them with
personal messages via video
recordings. With guidance and
caveats from estate planners and
financial advisers, some elderly
and terminally ill individuals, and
even some young parents, are
picking up video cameras or hiring
professional videographers to
share their life stories, express
hopes for younger generations
and explain why they're leaving
certain assets to certain family
members. Emily Sanders, CPA,
mentions video-taping to clients
who are worried family members
will fight over property when the
client passes away. Still, experts
say that while videos can head off
disputes, if not carefully executed,
they can backfire. So, it could be a
mixed bag.
Why do we say something
is out of whack? What is a whack?
Excerpt from a court proceeding:
Q: The youngest son, the
twenty-year-old, how old is he?
Oil aka: Black
gold: can be
nearly colorless or jet black (not to
mention the many shades in
between). It can be thinner than
water or thicker than molasses. It
can come in a form as light as gas
or as heavy as asphalt. Much of
the world's crude oil comes from
wells drilled from underground or
under the ocean floor. The most
important primary fossil fuel,
petroleum, has been used for
centuries, with the first wells
known to have been drilled in
8th-century China. Over 150 years
ago, Edwin Drake drilled the first
successful U.S. oil well near
Titusville, Pennsylvania.
"Formula for success: rise early,
work hard, strike oil," said Jean
Paul Getty.
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 16th
year of providing information, presented
fairly and accurately, from sources we
can depend upon and trust.
Standard Oil Company:
In an historic ruling, the U.S.
Supreme Court ordered the
dissolution of Rockefeller's
mega-monopoly in May 1911.
Several of the pieces of the
company would later be known as
Exxon, Mobil, Amoco and Chevron.
Garbage: The average
American discards garbage or
trash at the rate of four pounds per
day. That's 600,000 tons per day,
or about 220 million tons per year.
This is almost twice the rate of
trash generation per person at
most other major countries.
Trash levels can be reduced
primarily by recycling, re-use, and
reduced consumption.
In the decade of 2010 to 2020:
The number of households in the
U.S. will grow by an average of 1.4
million per year, assuming the
recent pace of immigration of 1.2
million per year.
People are getting married later in
life and divorced more often --
making single-person households
the fastest growing household
type.
An increased life expectancy of
baby boomers presents different
housing needs than that of
previous generations. Growth in
reverse mortgages and second
homes is likely during the next
5-10 years.
With a projected annual
immigration of 1.2 million, much of
this population will look to
purchase a home. More than half
of the first-time homebuyers will
be of minority households.
We see more in numbers
than just numbers...
Ali R. Kakhsaz, CPA, MAcc
www.arkcpa.com
|
