Month: September 2016

Archive for September 2016

Don’t Wait to File an Extended Return

If you filed for an extension of time to file your 2015 federal tax return, and you also chose to have advance payments of the premium tax credit (PTC) made to your coverage provider, it’s important you file your return sooner rather than later. Here are four things you should know: If you received a…

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Renting Out Your Vacation Home

Renting out a vacation property to others can be profitable. If you do this, you must normally report the rental income on your tax return. You may not have to report the rent, however, if the rental period is short and you also use the property personally. If you’re thinking about renting out your home,…

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Bitcoins Treated as Property for Tax Purposes

Many retailers and online businesses now accept virtual currency for sales transactions. Despite the IRS issuing a set of FAQs in 2014, regarding virtual currency, the U.S. federal tax implications remain relatively unknown to many retailers. If you’re a retailer who accepts virtual currency such as bitcoins for transactions, here’s what you need to know.…

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Eric Williams, CPA, ACI, Principal at Cover & Rossiter, Recognized by Delaware Business Times for Making a Difference in Delaware

Delaware Business Times announced Eric Williams, CPA, ACI, Principal in this year’s class of 40 under 40, young professionals making a difference in their workplaces and the community. Managing Director, Marie Holliday, recommended Eric for the award. Marie said, “We are proud of our team and especially Eric for this recognition as well as being…

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Tax Records: Which Ones to Toss and When

  Now is a great time to clean out that growing mountain of financial papers and tax documents that clutter your home and office. Here’s what you need to keep and what you can throw out. Let’s start with your “safety zone,” the IRS statute of limitations. This limits the number of years during which…

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