Time to Check Withholding

Archive for November 2015

Time to Check Withholding

Income tax is often withheld from wages and other types of income such as pensions, bonuses, commissions and gambling winnings. Ideally, taxpayers should try to match their withholding with their actual tax liability. If not enough tax is withheld, they will owe tax at the end of the year and may have to pay interest…

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Individual Shared Responsibility Provision

The Affordable Care Act includes the individual shared responsibility provision that requires you, your spouse, and your dependents to have qualifying health insurance for the entire year, report a health coverage exemption, or make a payment when you file. Who is subject to this provision? All U.S. citizens living in the United States, including children,…

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What Employers Need to Know About the ACA

The healthcare law contains tax provisions that affect employers. The size and structure of a workforce–small or large–helps determine which parts of the law apply to which employers. Calculating the number of employees is especially important for employers that have close to 50 employees or whose workforce fluctuates during the year. The number of employees…

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Cover & Rossiter Proudly Sponsors DSCC Annual Superstars in Business Awards Luncheon

Cover & Rossiter is a proud gold sponsor of the Delaware State Chamber of Commerce’s (DSCC) 17th Annual Marvin S. Gilman Superstars in Business Awards Luncheon. The event’s keynote speaker is Hal Real, a seasoned entrepreneur with a passion for new ideas and a history of transforming those ideas into successful businesses. These awards are presented…

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Year-End Tax Planning for Businesses

While the fate of several business-related tax extenders such as Research & Development tax credits, bonus depreciation, and Section 179 expensing that expired at the end of 2014 is uncertain, there are still a number of end of year tax planning strategies businesses can use to reduce their tax burden for 2015. Deferring Income Businesses…

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