by KNSS | Nov 17, 2015 | 2015 Year End Newsletter, Deductions
According to the IRS, to be deductible, an expenditure must be both “ordinary” and “necessary” in connection with your profession.? The IRS defines “ordinary” as common and accepted in a particular profession and...
by KNSS | Dec 23, 2013 | IRS, Planning, Savings
Contributing to a retirement plan is one of the best tax shelters available to you during your working years.? Recently, the IRS announced that most of the retirement savings limits will NOT increase for 2014. RETIREMENT PLAN LIMITS FOR 2014: ?Savings Opportunity...
by KNSS | Dec 18, 2013 | Deductions
According to the IRS, to be deductible, an expenditure must be both “ordinary” and “necessary” in connection with your profession.? The IRS defines “ordinary” as common and accepted in a particular profession and...
by KNSS | Nov 25, 2013 | Taxes
[Editor’s Note] I started my career as a CPA specializing in taxes back in 1987, and right off the bat had to deal with the massive Tax Reform Act of 1986. Since that complicated set of tax rules was implemented more than 25 years ago, all I’ve seen is...
by KNSS | Nov 21, 2013 | Savings
On Halloween night, the IRS announced the cost of living adjustments applicable to the various retirement plan limitations. Unfortunately, the bulk of the retirement savings limits will not increase from 2013. According to the October 31st announcement made by the IRS...
