Nonprofit
Get to know our newest employees
We are pleased to welcome our newest employees to Cover & Rossiter! Let’s find out a little about them… Ritika Bothra Senior Accountant, Audit ==================================================================== Chassity Gray Controller ==================================================================== Marquise…
Read MoreUpdate on the Employee Retention Credit (ERC)
Key observations and the IRS Voluntary Disclosure Program to return incorrect payments By Pete Kennedy, CPA, Director Background The Employee Retention Credit (ERC) – sometimes called the Employee Retention Tax…
Read MoreCorporate Transparency Act – Beneficial Ownership Reporting Requirements
Important information related to new beneficial ownership reporting requirements. NOTE: In March 2024, a district court in Alabama issued a final judgement enjoining enforcement of the Corporate Transparency Act against…
Read MoreUnderstanding and Applying the Home Office Deduction (Updated Jan-2024)
By: Tina Truby, CPA, Supervisor One of the lasting impacts from COVID is that more people are choosing to work from home. The home office deduction has been around for…
Read MoreAttention Business Owners and Nonprofits – Important Change to Filing 2023 Forms 1099
If you are a business owner or nonprofit organization that paper-files 1099s, you need to read this! On February 21, 2023, pursuant to the Taxpayer First Act, the Department of…
Read MoreMarie Holliday Elected Chair of Delaware State Chamber of Commerce Board of Directors
It is with great pride and excitement that we share Marie Holliday, CPA, MBA, our managing director, has been elected as chair of the Delaware State Chamber of Commerce (DSCC)’s…
Read MoreTax Implications of Charitable Planning/Giving Strategies – Update for 2022/2023
By: Marie Holliday, CPA, MBA, Managing Director In late 2021, I presented “Tax Implications of Charitable Planning/Giving Strategies” to a DTCC virtual audience. The program gave an overview of changes…
Read MoreERC – Too Good to be True?
The Employee Retention Credit is a legitimate program, but failure to apply the actual rules of the credit to applicants and their specific situation will result in inflated credit amounts which will, in all likelihood, need to be repaid.
Read MoreCYA on Your CWA’s
By: Pete Kennedy, CPA, Director It honestly hurts to read this recent decision from Tax Court. The above link is to the case summary which is not long but I’ll…
Read MoreAccounting Standards for Nonprofit Organizations
By: Vickie Young Beam, CPA, Principal Nonprofit organizations are entities that perform charitable services by accepting funds from the general public. To help regulate activities and encourage proper use of…
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