C&R Blog

Cover & Rossiter Leaders Elected to Local Boards

February 13, 2019

Cover & Rossiter is excited to announce that Marie Holliday was recently elected to the Delaware State Chamber’s Board of Governors and Peter Kennedy was elected to the Delaware College Scholars (DCS) board. Mrs. Holliday is the Managing Director of the firm, a role she has held since December 2015.  Since joining the firm in…

Cover & Rossiter Announces Promotions of Roseman and Truby

February 13, 2019

Cover & Rossiter, one of Delaware’s first and most respected CPA and advisory firms, is pleased to announce the promotions of Luci Roseman to Manager in the Tax Department and Tina Truby to Senior Staff Accountant. Since joining the firm in 2011, Roseman has used her keen attention to detail and problem solving ability to…

5 Tips to Simplify Tax Time

January 22, 2019

April 15 always seems to sneak up, and surely this year will be no different. While there’s no escaping the tax deadline, this year can be the easiest tax season ever. Use the following tips to streamline the tax return process and minimize stress. Review and complete the tax organizer. The organizer provides you with…

You Can Pave Paradise, Just Don’t Put Up a Parking Lot

January 17, 2019

Written by: Pete Kennedy, CPA, Director of Audit Services Unfortunately, the Tax Cuts and Jobs Act (TJCA) of 2017 wasn’t all tax cuts and jobs.  There were some mean little nuggets included meant to help offset the cost of the tax breaks.  Nearly a year since its passing, the IRS has finally issued (on December…

School Property Tax Relief For Seniors

January 9, 2019

The State of Delaware currently offers homeowners ages 65 and over a tax credit against their school property taxes of 50% (up to $400). The Senior School Property Tax Credit may be used against the property taxes on a primary residence. To qualify for this credit, you must be age 65 or older by June…

Myunghee Geerts Joins Cover & Rossiter

January 3, 2019

Myunghee Geerts, CPA joined Cover & Rossiter in December as a Principal in the Tax Department. She has 13 years of experience in public accounting. Prior to joining the firm, she was Senior Manager at Ernst & Young’s Quantitative Services where she specialized in advising her clients with tax planning ideas to reduce their tax liabilities…

Nonprofit Efficiency Measures

December 13, 2018

Written by: Pete Kennedy, CPA, Director of Audit Services For as long as I’ve been involved with nonprofit organizations, expense-based financial ratios (Program / G&A /Fundraising as a percentage of total expenditures) have been used as an efficiency measurement.  I’m sure you’re familiar with them – and the many derivatives that appear online in the…

Shane Bennett Joins Audit Department

December 11, 2018

Cover & Rossiter is pleased to announce the hiring of Shane Bennett as Audit Specialist in the Audit Department. Bennett joined Cover & Rossiter in late October after spending the last 10 years as the Financial Management Director for a Planning District in southwest Arkansas.  Born in Texas and raised in Arkansas, she completed both…

Year-End Tax Planning for Businesses

December 1, 2018

There are a number of end of year tax planning strategies that businesses can use to reduce their tax burden for 2018. Here are a few of them: Deferring Income Businesses using the cash method of accounting can defer income into 2019, by delaying end-of-year invoices, so payment is not received until 2019. Businesses using…

Year-End Tax Planning for Individuals

December 1, 2018

Once again, tax planning for the year ahead presents a number of challenges this year, primarily due to the passage of the law known as the Tax Cuts and Jobs Act of 2017 (TCJA). Changes include the nearly doubling of the standard deduction, elimination of personal exemptions and the reduction or elimination of numerous itemized…

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