Cover & Rossiter Newsletter

Greetings to all of our clients, friends and associates. We hope you find the financial advice and updates about the firm to be informative and helpful: 

Within The Firm:

Cover & Rossiter announces Promotion for Jennifer Pacilli

Cover & Rossiter has a long-standing history as one of Delaware’s first and most respected certified public accounting and advisory firms and is pleased to announce Jennifer Pacilli has become a Director in the firm. Recognizing her contributions to our clients and the firm, Marie Holliday said, “Jennifer has and will continue to be an integral part of our firm.”

Recent Publications:

Financial Resources

2017 Income Tax Proposal 
So, the budget wrangling is behind us for another 10 months anyway.  One of the items left on the cutting room floor was a proposal to increase tax rates and eliminate itemized deductions.

Tips on Tips: Are your Tips Taxable

Do you work at a hair salon, barber shop, casino, golf course, hotel or restaurant, or do you drive a taxicab? The tip income you receive as an employee from those services is taxable income.

Preserve Charitable Deduction for Health of Delaware Nonprofit Sector 
Written by Peter Kennedy, Director
One proposal gathering steam in the halls of Dover (as a part of the personal income tax overhaul) is to eliminate itemized deductions in favor of a larger standard deduction...

Word Count

Written by Peter Kennedy, Director 
I get 500 words to write these articles and so I have to hand it to President Trump, he managed to issue his statement on tax reform using only 229.  The brevity of the President’s memo belies the complexity of the topic.  There is one thing EVERYONE seems to agree on, including the IRS itself – the current tax code is too complex. 

Qualified Charitable Distributions- Donating Your Way to Lower Taxes

Written by Andrew Johnson, Manager
Did you know that it’s possible to lower your tax bill by donating to charity?
 Look no further than the Qualified Charitable Distribution.


Additional Resource:

Tax Tips for Businesses

Those who use one of the many online platforms to rent a spare bedroom, provide car rides or a number of other goods or services may be part of what is called the sharing economy. Here are several key points you should know about the sharing economy...

Three Things to Know before Starting a Business
Starting a new business is an exciting but busy time with so much to be done and so little time to do it in. And, if you expect to have employees, there are a variety of federal and state forms and applications that will need to be completed to get your business up and running. That’s where a tax professional can help...

Tax Tips for The Self Employed
If you are self employed, you normally carry on a trade or business. Sole proprietors and independent contractors are two types of self-employed individuals. If this applies to you, there are a few basic things you should know about how your income affects your federal tax returns: 

We're Hiring!

Audit Senior Accountant

Cover & Rossiter, is looking for strong Audit Senior Accountant with three to five years of audit experience who values his or her work-life balance. Cover & Rossiter is a great place to work with many unique benefits. 

Administrative Assistant
Cover & Rossiter, a Certified Public Accounting and Advisory firm, is looking for an experienced Administrative Assistant with an Associates degree or five to eight years of relevant experience who values his or her work-life balance. 

We hope you have enjoyed our latest issue of Tradition. Our goal is to become your leading financial resource, and we hope that you will find this information helpful. We welcome your questions and comments about any of the topics included in this newsletter. If you have any financial concerns or questions that you would like addressed, please don't hesitate to contact us directly. You can keep up with the latest Cover & Rossiter news by following us on social media!