You Can Pave Paradise, Just Don’t Put Up a Parking Lot

Posts Tagged ‘Delaware CPAs’

You Can Pave Paradise, Just Don’t Put Up a Parking Lot

Written by: Pete Kennedy, CPA, Director of Audit Services Unfortunately, the Tax Cuts and Jobs Act (TJCA) of 2017 wasn’t all tax cuts and jobs.  There were some mean little nuggets included meant to help offset the cost of the tax breaks.  Nearly a year since its passing, the IRS has finally issued (on December…

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Myunghee Geerts Joins Cover & Rossiter

Myunghee Geerts, CPA joined Cover & Rossiter in December as a Principal in the Tax Department. She has 13 years of experience in public accounting. Prior to joining the firm, she was Senior Manager at Ernst & Young’s Quantitative Services where she specialized in advising her clients with tax planning ideas to reduce their tax liabilities…

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Nonprofit Efficiency Measures

Written by: Pete Kennedy, CPA, Director of Audit Services For as long as I’ve been involved with nonprofit organizations, expense-based financial ratios (Program / G&A /Fundraising as a percentage of total expenditures) have been used as an efficiency measurement.  I’m sure you’re familiar with them – and the many derivatives that appear online in the…

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Staff Promotions

We are excited to announce the following team members were promoted to Senior Staff Accountant earlier this year: Tammy Holcombe joined Cover & Rossiter in December 2015 in the Audit department. She earned her Bachelor of Science and Master’s degrees in Accounting from Wilmington University. She is active in the Talleyville Fire Company Ladies Auxiliary.…

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Take Retirement Plan Distributions by December 31

Taxpayers born before July 1, 1946, generally must receive payments from their individual retirement arrangements (IRAs) and workplace retirement plans by December 31. Known as required minimum distributions (RMDs), typically these distributions must be made by the end of the tax year, in this case, 2016. The required distribution rules apply to owners of traditional,…

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Reminder: College Tax Credits for 2016

With another school year in full swing, now is a good time for parents and students to see if they qualify for either of two college tax credits or other education-related tax benefits when they file their 2016 federal income tax returns next year. American Opportunity Tax Credit or Lifetime Learning Credit. In general, the American…

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Employee or Independent Contractor–Which is it?

  If you hire someone for a long-term, full-time project or a series of projects that are likely to last for an extended period, you must pay special attention to the difference between independent contractors and employees. Why It Matters The Internal Revenue Service and state regulators scrutinize the distinction between employees and independent contractors,…

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2016 Recap: Tax Provisions for Businesses

Whether you file as a corporation or sole proprietor, here’s what business owners need to know about tax changes for 2016. Standard Mileage Rates  The standard mileage rates in 2016 are as follows: 54 cents per business mile driven, 19 cents per mile driven for medical or moving purposes, and 14 cents per mile driven…

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2016 Tax Provisions for Individuals: A Review

Many of the tax changes affecting individuals and businesses for 2016, arose from the Protecting Americans from Tax Hikes Act of 2015 (PATH) which modified or made permanent numerous tax breaks (the so-called “tax extenders”). To complicate matters, some provisions were extended only through 2016, and are set to expire at the end of this…

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Meet the Firm Night: 11/19

Cover & Rossiter would like to welcome you to our Meet the Firm Night Tuesday, November 19, 2013 5:00-6:00pm Cover & Rossiter’s Wilmington Office 62 Rockford Road, Suite 200 Wilmington, DE 19806 [directions] (Light refreshments will be provided)   Topics include: Firm Introduction Affordable Health Care Recent tax code changes   Please RSVP to Lindsay Wheeler at LWheeler@CoverRossiter.com or…

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