Tax
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 MoreTake Action Now to Reduce Your 2024 Tax Liability
We are getting into the busy part of the 1040 tax filing season and even though you’re focused on getting your 2023 tax return filed, now is as good a…
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 MoreStrategies to Help You Save Money and Reduce Taxes
By: Jennifer Pacilli, CPA, Director **Note: We’ve updated all financial references to tax years 2023 and 2024** The role of a certified public accountant has changed quite a bit from…
Read MoreRMD Relief and Guidance for 2023
In early 2022, the IRS issued proposed regulations regarding required minimum distributions (RMDs) to reflect changes made by the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019.…
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 MoreFinancial Tasks to Tackle in the Month of May
Now that spring is here, it might be a great time to give your finances a fresh look. Here are a few key items to put on your May to-do…
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