November 15, 1991
Investing in the `90s
I just read a wonderful 16 page form on Investment themes for the Early `90s put out by Oppenheimer & Co., Inc. Its premise is one that we agree with, that the financial and economic conditions of the 1990s are the start of a new world financial period and not just a brief respite from the inflationary `70s and heady `80s. We advise this issue of Portfolio Strategy dated October 14, 1991 by respected economist E. Michael Metz to be required reading for everyone. For your own copy we suggest you call Ronald Frumkes, an Oppenheimer Vice President at 212-764-8065.
Firm Brochure
We have, in response to numerous requests, such as "give me a brochure" issued, you guessed it, our first firm brochure. In it we have tried to describe what a CPA is, what he does, and how he can be of current and future help to you. We have tried to convey the fact that we, not a "financial planner" should be involved in personal financial planning and we should be involved together with insurance brokers in your insurance reviews.
We look forward to your comments, criticisms, and suggestions as to how we can improve this brochure. In fact, this is why we left the back page blank for the time being.
Year End Planning
In this month`s printed newsletter there are some detailed suggestions regarding final tax planning for 1991. After you have read this and still have questions or want to have an in person meeting to discuss your situation further, please call for an appointment.
Continuing Education
In the past several weeks I have attended courses in Pension planning and relevant tax changes for 1991 and beyond and Computerized Accounting Solutions using ACCPAC Plus. We shall inform you of future courses attended.
Boycott Update
In response to publicity, The American Jewish Congress announced that Toshiba has announced they will not be complying with the Arab Boycott and they will observe U.S. Laws. At the same time the Korean companies Samsung and Goldstar announced they will continue to observe the Arab boycott of Israel even though it is against U.S. Law.
Inactive New York Corporations Should be Dissolved
New York State taxing authorities are taking a dim view of inactive corporations. First, New York started charging a minimum tax of $800 for corporations with average asset value, gross payroll and gross receipts of under $1,000 while those corporations with assets, payrolls or receipts in excess of that amount are only subject to a $325 minimum tax.
Next, the State stopped dissolving corporations that do not pay their taxes by proclamation even though it has the right to do so under NYS Tax Law Sec. 203 a) once the corporation has not filed required reports for two consecutive years. Criminal penalties may be asserted pursuant to NY Tax Law Sec. 1803 which provides that any person who with intent to evade payment of tax, fails to file a return for three consecutive years is guilty of a felony, provided that that person has an unpaid tax liability in excess of $200 with respect to each of the three tax years.
Macintosh or Windows 3.0?
In two research studies conducted by Diagnostic Research, Inc. an independent international research firm, where 150 MIS managers were the subjects of the studies, it was discovered that MIS managers are significantly more satisfied with Macintosh computers than they are with personal computers running Windows 3.0 and they are also more satisfied with the overall performance of the Macintosh.
It was also found that Macintosh users are more satisfied overall with their computers and give the Macintosh higher ratings as a source of satisfaction in doing their jobs, as being more enjoyable to use, and as giving them greater confidence in using their computers.
If you desire more information, we have a copy of the study in our office.
We wish everyone a hearty Thanksgiving and safe travel during the season, to you and your loved ones.