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 →

Unemployment Benefits Come With BaggageThe U.S. unemployment rate continues to remain high at 9.2%. This means that many Americans are collecting their unemployment benefits and many are doing so for the first time ever.  According to a recent survey 40% … Continue reading →

Construction Junction: Building Green Pays OffBy Christina Butcher, KOS Manager cbutcher@koscpa.comMost contractors know that the future of the industry is ‘Green Building,’ a process of building energy efficient, sustainable construction and renovation.  This process leads to lower energy, operating and lifecycle … Continue reading →

Understanding Illinois Estate Tax Exemptions  By Larry Krupp, KOS Director lkrupp@koscpa.com  In December 2010, Congress reinstated the federal estate tax for estates in excess of $5 million for 2010 through 2012. Illinois also reinstated its estate tax. The Illinois estate … Continue reading →

Should You Pocket Your Social Securty Starting at 62, 66 or 70? Over the next few years, over 70 million Baby Boomers will turn 62 and become eligible for Social Security benefits. Many are undecided between collecting Social Security benefits … Continue reading →

Is Now a Good Time to Buy a Vacation Home? In a buyer’s market, you may be considering purchasing a vacation home. Perhaps a place to spend a few weeks during the year and rent when you don’t need it? … Continue reading →