Bottom Line Bulletin May 2017

Tax Aspects of Refinancing a Home Mortgage Jeffrey Arnol, KOS Managing Partner When thinking about refinancing your home mortgage, it is important to understand the tax rules regarding the deductibility of the interest you will pay, the points you may pay and other fees incurred in connection with the refinancing. Interest that you pay

Bottom Line Bulletin April 2017

Another Successful Peer Review for KOS As members of the American Institute of Certified Public Accountants (AICPA), our firm is required to have a peer review every three years. A peer review is an external review of our firm’s quality control system in accounting and auditing and is also known as the AICPA’s practice monitoring

Bottom Line Bulletin March 2017

Answers to Commonly Asked Questions About Roth and Traditional IRAs By: Diana Spatoulas, KOS Senior Accountant Individual Retirement Accounts, or IRAs, play an important role in retirement planning. Part of the planning process includes determining whether a Roth IRA or Traditional IRA is best for you. Presented below is a list of commonly asked

Bottom Line Bulletin February 2017

Charitable Contribution Deductions Jeffrey Arnol, KOS Managing Partner Most people are aware that contributions to qualified charitable organizations are deductible for tax purposes. That being said, it is important that everyone is knowledgeable about the substantiation requirements for both cash contributions as well as the rules that apply to contributions of non-cash property such

Bottom Line Bulletin December 2016

Adding a Prenup to Your Estate Plan Key component for wealth protection Are nuptials on the way? Suppose that you are going to be married soon. Perhaps it’s a second or even third marriage. Or maybe another family member—for example, a son or daughter, or a grandchild—will be the one walking down the aisle. In


What You Need to Know About Section 529 Plans

Answers to Several Common Questions How will you ever save enough money to pay for your children’s college educations? There are no absolute guarantees, but Section 529 plans may help you set aside funds, up to generous limits. Here are the answers to several common questions on this subject. Q. What exactly is a Section

Round Up of “Dirty Dozen” Tax Scams

IRS Updates its List for 2017 The IRS recently released its annual list of “Dirty Dozen” tax scams to watch out for in 2017. Here is a rundown gleaned from the IRS’ summary. 1. Phishing: Be on guard against fake e-mails or websites looking to steal personal information. Do not click on e-mails claiming to come

KOS to Participate in the Illinois CPA Day of Service

Governor Rauner has officially proclaimed September 23, 2016 to be CPA Day of Service throughout Illinois. KOS is proud to be part of this wonderful day.  Employees from the firm will be traveling to the Feed My Starving Children (FMSC) facility in Libertyville, IL for an afternoon of helping others. KOS chose to work with

KOS Introduces KOS Financial Services

PRESS RELEASE FOR IMMEDIATE RELEASE August 17, 2016   KOS Introduces KOS Financial Services The CPA firm of KOS has a financial advisory division headed by Tony Gacs Kessler Orlean Silver & Co., P.C. (KOS) is pleased to announce that Tony Gacs has joined the firm to head its’ new division KOS Financial Services. As

KOS 4th Annual Professional Development for the Woman Business Leader

A breakfast workshop for women who want to build their power, presence and communication skills In today’s work environment, it’s not enough to be highly trained in technical skills. Delegating, motivating, team building, displaying a positive attitude and carrying yourself well are all crucial for success and taking your career to the next level. Come