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Tradition

Cover & Rossiter Summer Newsletter

Summer greetings to all of our clients, friends and associates. After a very busy tax season, our staff has already been on trips to the Delaware beaches, the Jersey shore and the Dominican Republic. But rest assured, even in the summer we are available when you need us.

Our Nonprofit Clients Make Us Proud


Delaware has a lot to be proud of and the Delaware Alliance for Nonprofit Advancement (DANA) conference on June 14 was a great one. C&R was honored to be a sponsor. As Pete Kennedy reflected on the day, he said, "Great to see so many of our clients investing their time in improving the lives of so many."

Thanks to Sheila Bravo, President and CEO, and her team for a great day. The Cover & Rossiter table even had a line of people waiting to speak with Pete. If you missed the conference or didn't get a chance to speak to Pete click here to send him an email.

In this Issue:

Qualified Charitable Distributions from IRAs

 
If you’re age 70.5 or older, there is recent legislation allowing you to avoid paying income tax on IRA withdrawals transferred directly to a qualified charitable organization.

What to do if You Get a Letter From the IRS


Each year, the IRS mails millions of notices and letters to taxpayers for a variety of reasons. If you receive correspondence from the IRS here’s what to do:

A Name Change Could Affect Your Taxes


Did you know that a name change could greatly impact your taxes? There are several things that you need to know:

Tax Tips for Students with a Summer Job

 
Is your child a student with a summer job? Here’s what you should know about the income your child earns over the summer.

 

Penalties for Filing a Late Tax Return

 
If you are due a refund, there is no penalty if you file a late tax return. Here are some facts that you should know about penalties for filing a late return:

Employee Business Expenses

 
In most cases, you can claim allowable expenses if you itemize on IRS Schedule A, Itemized Deductions.  Here are five other facts you should know:



 
We hope you have enjoyed our June issue of Tradition. We welcome your questions and comments about any of the topics included in this newsletter. Our goal is to become your leading financial resource, and we hope that you will find this information helpful. If you have any financial concerns or questions that you would like addressed, we'd love to hear from you! Please don't hesitate to contact us directly. 

Copyright © 2016 Cover & Rossiter, All rights reserved.


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