Month: March 2016

Archive for March 2016

Cover & Rossiter Selects Successor

We are pleased to announce that Marie Holliday has been named Cover & Rossiter’s next managing director. Please view the original press release below. For Immediate Release For only the fifth time in the 76-year history of one of Delaware’s first and most respected certified public accounting and advisory firms, the role of Managing Director is…

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Five Overlooked Tax Breaks for Individuals

Confused about which credits and deductions you can claim on your 2015 tax return? You’re not alone. Here are five tax breaks that you won’t want to overlook. State Sales and Income Taxes Thanks to last-minute tax extender legislation passed in December, taxpayers filing their 2015 returns can still deduct either state income tax paid…

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Exemptions and Dependents: Top Ten Tax Facts

Most people can claim an exemption on their tax return. It can lower your taxable income, which in most cases, that reduces the amount of tax you owe for the year. Here are eight tax facts about exemptions to help you file your tax return. 1. Exemptions Cut Income. There are two types of exemptions.…

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The Individual Shared Responsibility Provision

The individual shared responsibility provision requires that you and each member of your family have qualifying health insurance, a health coverage exemption, or pay a shared responsibility penalty for any months without coverage or an exemption when you file. If you, your spouse and dependents had health insurance coverage all year, you will indicate this…

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Tax Due Dates for March 2016

March 15 Corporations – File a 2015 calendar year income tax return (Form 1120) and pay any tax due. If you want an automatic 6-month extension of time to file the return, file Form 7004 and deposit what you estimate you owe. S Corporations – File a 2015 calendar year income tax return (Form 1120S)…

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Who Should File a 2015 Tax Return?

Most people file a tax return because they have to. But even if you don’t, there are times when you should, because you might be eligible for a tax refund and not know it. This year, there are a few new rules for taxpayers who must file. The six tax tips below should help you…

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