Newsletter Article

Getting out of Credit Card Debt

Do you need a Snowball or an Avalanche? By: Diana Spatoulas, KOS Senior Accountant dspatoulas@koscpa.com Now that 2017 is in full swing, the recent holidays of 2016 may seem like a distant memory. Colorful decorations and bright lights have been packed away and are out of sight. If it has not happened yet, soon a


Adjustments in Retirement Plan Limits

The IRS has announced its annual cost-of-living adjustments for certain retirement plan thresholds. Due to relatively low inflation rates, the adjustments for 2017 are minimal or nonexistent, as shown below. Maximum annual dollar benefit for a defined benefit plan                                


IRS Reminds Tax Payers of Common Scams

As the 2017 tax filing season unfolds, the IRS is reminding taxpayers about phishing and phone scams. Scammers have been contacting taxpayers via live and automated phone call, email, fax, regular mail, and text message. Here is a list of some of the most prevalent scams to watch out for: Students and their parents are


Charitable Contribution Deductions

Jeffrey Arnol, KOS Managing Partner jarnol@koscpa.com 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 as clothing or


KOS Book Club: The Productivity Project

By: Bruce Kreisman, Kathy Stanley, Olga Bernick, Cameron Kinley and Abigail Schaffer At KOS we recognize that a successful professional utilizes various skills while servicing our clients. The most obvious are technical skills, whether in accounting, auditing, tax or consulting. But a well-rounded professional will also be strong in the so-called “soft skills,” things they


Should You Join in Crowdfunding?

Modern means for start-ups Do you need an influx of cash to launch a business venture devoted to your personal passion? You can do things the old-fashioned way and issue an initial public offering (IPO) for review by prospective investors. Although IPOs remain viable for some types of businesses, especially larger ones, they can cost


KOS is Hiring!

Help spread the word! We are actively seeking exceptional candidates for the following positions: Accounting and Auditing Supervisors and Managers (4-6 years of previous public accounting experience required) The KOS Difference Direct Client/ Partner Contact*Great People*Challenging Work*Flex-Time*Work Variety Tell your friends, networks and college age students to spread the word and check KOS for a


News Briefs

Tax Return Reminders – The due date for filing partnership tax returns has moved to March 15, while the deadline for C corporations has changed to April 15. (Deadlines are pushed out to the next business day for holidays and weekends.) The changes take effect for 2016 returns. Resigning Times – Can you require an


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 any event, it should be a blissful


KOS Book Club – Outliers: The Story of Success

By: Ciara Leahy, Mark McGrady, Diana Spatoulas, Marta Sukiennik, and Kelli Wegrzyn At KOS we recognize that a successful professional utilizes various skills while servicing our clients. The most obvious are technical skills, whether in accounting, auditing, tax or consulting. But a well-rounded professional will also be strong in the so-called “soft skills,” things they