News & Resources

Seasonal Employees and Taxes

July 18, 2018

Many businesses hire part-time or full-time workers, especially in the summer. These types of employees are referred to as seasonal workers, which the IRS defines as an employee who performs labor or services on a seasonal basis (i.e. six months or less). Examples of this kind of work include retail work exclusively during holiday seasons,…

Saving for Education: 529 Plans

July 11, 2018

Many parents are looking for ways to save for their child’s education, and a 529 Plan is an excellent way to do so. Even better is that thanks to the passage of tax reform legislation in 2017, 529 plans are now available to parents wishing to save for their child’s K-12 education as well as…

We're Hiring: Accountant

June 14, 2018

Successful team members are self-starters, who manage their own schedule and work load by completing all work on a timely basis and meeting assigned deadlines.

Exciting news about our future

May 31, 2018

Please take 40 seconds and listen to this important message about what is changing in early July at Cover & Rossiter. We think you will be pleased with our news as we are doing it for you as we continue to be your “future ready” accounting firm. Happy June.

Using a Car for Business: New Rules under TCJA

May 26, 2018

Many of the tax provisions under tax reform were favorable to small business owners including those relating to using a car for business. Here’s what you need to know. Section 179 Expense Deduction If you buy a new car in 2018, and use it more 50 percent for business use, you can take advantage of…

Self-Employed? Five Easy Ways to Lower Your Tax Bill

May 23, 2018

If you’re like most small-business owners, you’re always looking for ways to lower your taxable income. Here are five ways to do just that. Deducting the Cost of a Home Computer If you purchased a computer and use it for work-related purposes, you can take advantage of the Section 179 expense election, which allows you…

Selling Your Small Business

May 21, 2018

Selling a small to medium-sized business is a complex venture, and many business owners are not aware of the tax consequences. If you’re thinking about selling your business, the first step is to consult a competent tax professional. You will need to make sure your financial statements are in order, obtain an accurate business valuation…

What to Do When Your Tax Return is Late

May 19, 2018

Tuesday, April 17, 2018, was the tax deadline for most taxpayers to file their tax returns. If you haven’t filed a 2017 tax return yet, the sooner you do something about it the better, and it may be easier than you think. First, gather any information related to income and deductions for the tax years…

Don’t Let IRA Assets Go Astray

May 16, 2018

By Peter Desmond Hopkins, CPA, MS ‒ Manager As published in Delaware Banker Spring 2018 Vol. 14 No. 2 It is no secret that Delaware’s many advantages entice clients to establish relationships with Diamond State bankers and other advisers. Often, new clients are so impressed with the professionalism they observe in Delaware that they move…

Principal Vickie Young Beam Elected to DANA’s Board of Directors

May 1, 2018

Cover & Rossiter is proud to announce Principal, Vickie Young Beam, has been elected to DANA’s Board of Directors.   DANA – Delaware Alliance for Nonprofit Advancement’s mission is to strengthen, enhance, and advance nonprofits and the sector in Delaware through advocacy, training, capacity building, and research.  Vickie has been a valuable asset to Cover &…

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