A Few Tax Changes for 2012  By Marisol Martinez, KOS Staff       mmartinez@koscpa.com Congress has had their plate full in deciding the fate of our tax consequences. Some changes have already been made and some are still in the making.   This year … Continue reading →

Tax Angles to Lifetime GiftsBy Jeffrey Butler, KOS Director jbutler@koscpa.com Due to recent tax law changes, you may want to consider giving gifts to other family members.  The gifts can reduce the size of your taxable estate.  Here is an … Continue reading →

2011 Tax Strategies for BusinessesThe end of the year is often the preferred time for tax planning because you may have the flexibility to shift income and deductions to your tax benefit. However, tax planning in 2011 is shrouded in … Continue reading →

Safety First in Year-end Tax PlanningThe end of the year is often the preferred time for tax planning. However, tax planning in 2011 is shrouded in doubt as talk of major tax reform heats up. A resolution of the federal … Continue reading →

Is a Health Savings Account Right for You? By Alan Kalfen, KOS Partner  akalfen@koscpa.com As employers and individuals strive to control medical insurance premiums there has been a switch by many to insurance plans that have higher deductibles.  This switch … Continue reading →

By Marisol Martinez, KOS Staff        mmartinez@koscpa.com Congress has had their plate full in deciding the fate of our tax consequences. Some changes have already been made and some are still in the making. Filing Deadline – This year your individual … Continue reading →

How to organize your key records The IRS generally requires taxpayers to shoulder most of the recordkeeping responsibilities. If you have not kept the necessary tax records in the past—or if your recordkeeping has been inadequate—make it your New Year’s … Continue reading →

Make use of better time management Frequently, business owners deal in “commodities,” such as the goods that the company might produce or sell to the general public. Yet they may pay scant attention to one of the precious commodities: time. … Continue reading →

By Geoff Harlow, KOS Partner gharlow@koscpa.com Effective for tax year 2011, household employers must separately report Illinois Withholding Income Tax and Unemployment Insurance Contributions. Form UI-WIT, Combined Return for Household Employers, has been discontinued. Illinois Withholding Income Tax: You may … Continue reading →

By Michael Wall, KOS Manager mwall@koscpa.com Over the last few years there have been a number of pieces of legislation passed by Congress that affect small business and will be implemented in the future.  The Housing and Economic Recovery Act … Continue reading →