13 Nov 2017
0

(#242) Money vs Currency

Roger Rossmeisl, CPA
Economic Concepts

Terms Seemingly Used Interchangeably, What is the Difference? As posted to the GoldSilver YouTube Channel on 2/26/2013   https://youtu.be/DyV0OfU3-FU In this, the first installment of the popular "Hidden Secrets of Money" docu-series, Mike Maloney travels to Egypt to unravel the difference between money and currency. Many people have been led to believe they are the same thing, a misconception that could have dire consequences in the near future.  Arguably one of the most important lessons you will ever learn, grasping this concept will pave the way for your understanding of future episodes. Michael Maloney, founder of www.GoldSilver.com is also the author of the world’s best selling book on precious metals investing.  Since 2003 he has been advocating gold and silver as the ultimate means of protecting wealth from the games played by our governments...

09 Mar 2017
0

(#241) Everything Will Come to a Grinding Halt in 2017

Roger Rossmeisl, CPA
Current Events

Debt Ceiling Holiday Ends 3/15/17 As posted to Greg Hunter's USA Watchdog YouTube Channel on February 25, 2017 Former White House Budget Director David Stockman drops a bomb in his latest interview by saying, “I think what people are missing is this date, March 15th 2017. That’s the day that this debt ceiling holiday that Obama and Boehner put together right before the last election in October of 2015. That holiday expires. The debt ceiling will freeze in at $20 trillion. It will then be law. It will be a hard stop. The Treasury will have roughly $200 billion in cash. We are burning cash at a $75 billion a month rate. By summer, they will be out of cash. Then we will be in the mother...

22 Jan 2017
0

(#240) Exter’s Pyramid of Collapsing Values

Roger Rossmeisl, CPA
Economic Concepts

In What Order will Asset Values Fail in the Next Financial Crisis? As posted to LesJones.com on September 9, 2009 Reproduced from the article: "Word of the Day: Exter's Inverted Pyramid of Assets" John Exter’s inverted pyramid. The idea is that things high on the pyramid are derivatives of asset classes further down the pyramid. From FOFOA. Note that in FOFOA’s expanded version of Exter’s inverted pyramid there are all sorts of derivatives at the top of the inverse pyramid. Those derivatives were wildly inflated and at one pointed passed the one quadrillion mark, which is greater than the value of all physical, privately-owned assets on Earth.  How is that possible? It’s possible because derivatives and paper markets are often larger than the underlying physical markets. In a nutshell, the...

26 Dec 2016
0

(#239) Scanning Documents with your Phone

Roger Rossmeisl, CPA
Technology

Introducing CamScanner As posted to the CamCard/CamScanner YouTube Channel on October 28, 2016   https://youtu.be/Z_nlGEkW6ic Back in the day, clients provided their personal tax data in a shoe box . . . everything but the kitchen sink in the form of crumpled up receipts, handwritten notes on scrap paper or napkins, and other "support".  Now, in the digital age, data received by our office is almost exclusively electronic.  Sometimes however, documents don't show up in the most pristine condition . . . such as when the sender doesn't have a scanner and resorts to taking a distorted photograph of a document with their smart phone.  Fortunately, that practice is now poised to be a thing of the past as well.  Introducing CamScanner. With CamScanner, any documents you see in real...

25 Nov 2016
0

(#238) I, Pencil

Roger Rossmeisl, CPA
Economic Concepts
(#238) I, Pencil

Lesson: Leave all Creative Energies Uninhibited As released by the Competitive Enterprise Institute (CEI) in November 2012 https://youtu.be/IYO3tOqDISE In November 2012, the Competitive Enterprise Institute (CEI) released I, Pencil: The Movie, an animated short film adapted from the 1958 essay by Leonard E. Read. Do you know how to make a pencil? You don’t, do you? As Read explained in his classic essay, no single person on earth does. The pencil, like most modern wonders, is the end product of an intricate chain of human activity that spans the globe. There is no mastermind dictating the making of a pencil; not even the CEO of a pencil company could tell you exactly how to make one. It takes little bits of know-how of thousands of individuals—loggers in California, factory...

13 Nov 2016
0

(#237) Establishing Reasonable Cause

Roger Rossmeisl, CPA
Resources, Taxes

Valid Reasons for FTB Penalty Abatement As appearing at Spidell's California Minute on 10/9/16   You've been assessed a penalty for the late filing of your return or payment of tax . . . what are your options?  One is to claim that you had "reasonable cause" for the infraction.  Although it is an option, it is an extremely difficult case to make.  In fact, the only reasons that likely work are: taxpayer is seriously ill, taxpayer has died, or taxpayer is the victim of some egregious act over which they had no control, and neither the taxpayer nor their spouse were able to file returns and pay tax. In the attached audio clip (click on photo above to listen), Spidell Publishing's "California Minute" discusses the difficulties of proving reasonable...

11 Oct 2016
0

(#236) The Greatest Stock Market vs Base Money Divergence on Record

Roger Rossmeisl, CPA
Current Events

The Stock Market is Exactly Mirroring Base Money As posted to the GoldSilver You Tube Channel on 7/21/16   https://youtu.be/U1RlJuJ9hAw What's behind the recent market rally? In this video, Mike shows you how the market is being pumped up to record highs, (Hint: it's not individual investors doing the buying) and the telltale sign a disaster is in the making. “The stock market will be in for a much bigger plunge than we’ve seen the past couple of times…” -- Mike Maloney Michael Maloney, founder of www.GoldSilver.com is also the author of the world's best selling book on precious metals investing.  Since 2003 he has been advocating gold and silver as the ultimate means of protecting wealth from the games played by our governments and banking sector....

08 Oct 2016
0

(#235) IRS Issues Tangible Property Capitalization Audit Guide

Roger Rossmeisl, CPA
Resources, Taxes
(#235) IRS Issues Tangible Property Capitalization Audit Guide

A tool for IRS auditors to identify potential tax issues As posted to the IRS website on 9/14/16   Overview On September 14, 2016, the IRS issued an Audit Techniques Guide (ATG) on the Capitalization of Tangible Property.  The ATG is a tool to assist IRS examiners in identifying potential tax issues.  Examiners are advised to carefully assess risk and apply the law to the facts and circumstances for issues involving the capitalization and dispositions of tangible property. Background The IRS and the Treasury began a project in 2004, to revise the tangible property regulations.  In anticipation of these regulations, many taxpayers changed their method of accounting beginning as early as 1/1/06.  As a result, many of these taxpayers may now be using a method of accounting for tax purposes that...

27 Sep 2016
0

(#234) The Business Cycle in 5 Minutes

Roger Rossmeisl, CPA
Economic Concepts

An explanation of the current state of the economy As appearing on the libertyordeath TV's YouTube Channel   Business cycle theory is an economic theory developed by the Austrian School of economics about how business cycles occur. The theory views business cycles as the consequence of excessive growth in bank credit, due to artificially low interest rates set by a central bank or fractional reserve banks. The Austrian business cycle theory originated in the work of Austrian School economists Ludwig von Mises and Friedrich Hayek. Hayek won the Nobel Prize in economics in 1974 (shared with Gunnar Myrdal) in part for his work on this theory. Proponents believe that a sustained period of low interest rates and excessive credit creation result in a volatile and unstable imbalance between...

14 Sep 2016
0

(#233) Vehicle Recall Search Tool

Roger Rossmeisl, CPA
Resources

Search Vehicle Recalls by Vehicle Identification Number (VIN)   The National Highway Traffic Safety Association (NHTSA) now provides a tool to search active vehicle recalls by VIN.  To use this tool, visit www.safercar.gov. Besides the VIN search tool, NHTSA offers additional safety information based on a vehicle's make, model, and model year and not tied to any particular VIN. A search by vehicle make, model, and model year gives you access to information about technical service bulletins, NHTSA investigations, and owner complaints, as well as safety recalls on aftermarket equipment that is often not linked to a particular VIN or even to your vehicle's manufacturer. To search NHTSA's safety information based on your vehicle's make, model, and model year, please go to the Safety Issues section and follow...

ROGER ROSSMEISL, CPA

Kho & Patel CPAs
160 E. Arrow Highway
San Dimas, CA 91773

(714) 325-0442
roger@khopatel.com

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