Cover & Rossiter Announces New Director

Archive for January 2017

Cover & Rossiter Announces New Director

Cover & Rossiter, one of Delaware’s first and most respected certified public accounting and advisory firms, is pleased to announce Eric Williams as the firm’s newest Director. Williams is only the thirteenth director in the firm’s 77 year history. Williams began working at Cover & Rossiter in 2003 as a Staff Accountant and has earned…

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Delaware Governor’s Proposed Budget

The Delaware Office of Management and Budget estimates that the state will have a budget shortfall of about $350 million if the status quo is maintained. One of the final responsibilities Governor Markell met before leaving office was the submission of a proposed budget to the General Assembly. This is preliminary and subject to getting…

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Paying Taxes on Household Help

If you employ someone to work for you around your house, it is important to consider the tax implications of this arrangement. While many people disregard the need to pay taxes on household employees, they do so at the risk of paying stiff penalties down the road. As you will see, the rules for hiring…

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Tax Brackets, Deductions, and Exemptions for 2017

More than 50 tax provisions, including the tax rate schedules and other tax changes are adjusted for inflation in 2017. Let’s take a look at the ones most likely to affect taxpayers like you. The tax rate of 39.6 percent affects singles whose income exceeds $418,400 ($470,700 for married taxpayers filing a joint return), up…

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Earlier Filing Deadlines in 2017 for Forms W-2 and 1099

Starting in 2017, a new federal law aimed at making it easier for the IRS to detect and prevent refund fraud will accelerate the W-2 filing deadline for employers to January 31. The new January 31 filing deadline also applies to Forms 1099-MISC reporting non-employee compensation, such as payments to independent contractors. For similar reasons,…

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Tax Tips for Older Americans

Everyone wants to save money on their taxes, and older Americans are no exception. If you’re age 50 or older, here are seven tax tips that could help you do just that. 1. Standard Deduction for Seniors. If you and/or your spouse are 65 years old or older, and you do not itemize your deductions, you…

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Tax Changes for 2017: A Checklist

Welcome to 2017! As the New Year rolls around, it’s always a sure bet that there will be changes to current tax law, and 2017 is no different. From health savings accounts to tax rate schedules and standard deductions, here’s a checklist of tax changes to help you plan for the year ahead. Individuals For…

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