July 15, 2006 Follow the Yellow Brick Road It’s been 25 years since gold and silver have been as pricey as they are now. Together with other metals, the commodity run is in full swing. This is as good a time to reflect on Frank Baum and the Wizard of Oz. Many say it is a parable on populism and monetary allegory. Scholars continue to debate the hidden references to turn of the century society. Many claim the Wicked Witch of the East stands for eastern industrialists and bakes, that the Tin Man stands for industrial workers, the Scarecrow is the western farmer and the Cowardly Lion is William Jennings Bryan, the pro silver presidential candidate. Oz is the abbreviation for an ounce of gold and the Emerald (or greenback) City could be Washington D.C. Is Toto short for teetotaler, the Prohibitionists were committed silverites. Although Judy Garland wore ruby slippers in the movie, Dorothy’s slippers were actually silver in the book, it is the silver shoes that actually carry Dorothy home. Of course, the Yellow Brick Road was the gold standard itself. Wealth Manager June, 2006 p. 45 Job of His Dreams All too often we must settle for less than we hope for; that what we want is simply not attainable. Consider the case of my son, Jeremy. In the field of sports it is almost impossible to get a job in the major leagues. Additionally, the starting pay is short and the hours are long. Jeremy always wanted an operations job in the soccer world and he wanted his own team to coach. He went to college and majored in sport management and after three internships in California and the League’s offices in New York, where he helped to put on three All Star Games for Major League Soccer he got his chance of a lifetime opportunity and moved cross country during tax season to Salt Lake City to be the Event Operations and Merchandise Manager of REAL SALT LAKE, the MLS franchise in Salt Lake City. Imagine, each week for the entire soccer season his job is to help produce the soccer game. For him, it’s not a job, it’s a labor of love. He can be seen at games, on the field making sure all is going smoothly for the fans at the game. Oh yes, on the side he will also coach a Utah boy’s soccer team sponsored by Nike. If any of you are going to be in Salt Lake City, call Jeremy for tickets and go see a game. Tell him you know his Dad! P.S. I wholeheartedly recommend using Isight to talk to and see a person on your computer. 2006 Ford Escape and Mercury Mariner Hybrids Certified by IRS as being eligible for the clean burning fuel deduction. Thus far, the only other 2006 model year vehicles certified by the IRS are the Toyota Highlander and the Lexus RX 400h. IR 2005-132 11/7/05 It’s About Time! After pressure from many telephone companies and taxpayers, the federal government has agreed to stop collecting a temporary luxury telephone tax levied in order to raise money to help finance the Spanish American War of 1898. NYSSCPA-7/15/06 Bad News For Unmarried Cohabitants In a private letter ruling, the IRS has stated in a community property state, each partner must report his or her share of earned income, the partner cannot report one half of the combined income on their separate returns. And with regard to fringe benefits, the employee owes tax on the value of the company paid health coverage or tuition waivers for domestic partners. Kiplinger Tax Letter 3/10/06 Remember, We’re Here For You!!