Business
Tangible Property Regulations Guidance
By: Luci M. Roseman, CPA To Expense or Capitalize? That is a question that continues to elude taxpayers. Historically, the general rule has always been that tangible property with a…
Read MoreUnderstanding the R&D Tax Credit
By: Mitchell Byerly, CPA The research and development (R&D) credit is a great incentive to spur innovation and improvements that benefit us all. Let’s take a closer look. What is…
Read MoreTax Day for Individuals Extended to May 17
(March 18, 2021) The IRS announced late yesterday that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15,…
Read MoreTax Provisions of the American Rescue Plan Act (ARPA)
(March 18, 2021) The American Rescue Plan Act of 2021 (ARPA), which Congress passed and President Biden signed into law on Thursday, March 11, grants relief to taxpayers and extends…
Read MoreSending QuickBooks Files to Your Accountant
It’s tax time once again and if you’re a business owner, your CPA/tax preparer is hounding you for your financials. One reason we recommend that our business clients use QuickBooks…
Read MoreNeed to Pay Taxes? Try Online Payment Options
By: Mengjiao (Sherry) Yao, CPA, Cover & Rossiter The pandemic changed people’s lifestyles from cutting hair at home to paying taxes online. The IRS and most jurisdictions allow several convenient…
Read MorePandemic Relief Package for Small Businesses – Round 2
Details of $900 billion relief package as it relates to the Paycheck Protection Program (PPP) and Small Businesses By: Kim Zarett, Principal, Cover & Rossiter (UPDATED December 31, 2020) The…
Read MoreImpact of COVID-19 on 2020 Taxes – Are You Ready?
By: Kimberly Zarett, CPA, MS, Principal COVID-19 has had a tremendous impact on businesses, our social interactions, and the economy. There have been several important legislative changes enacted this year,…
Read MoreTop 6 Year-End Tax Planning Tips
This has been a year of economic and tax uncertainty with the impact of the COVID-19 pandemic, potential stimulus bills, and the presidential election. As a result, tax planning may…
Read MoreIt’s National Tax Security Awareness Week – Tips to Stay Safe
On this Cyber Monday, as the IRS celebrates the 5th annual National Tax Security Awareness week, here are a few basic steps everyone should remember during the holidays and as…
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