VT Tax & Finance Blog

The SECURE Act 2.0 and What it Could Mean For You

Jan 30, 2023
The original SECURE Act was signed into law on December 20th, 2019. Its “sequel,” the SECURE 2.0 Act, was similarly enacted at year-end on December 29th, 2022.  The guiding goal is right in the name: Setting…

2023 Updates to the Standard Mileage Rate

Jan 17, 2023
The IRS usually adjusts the standard mileage rate, and 2023 is no exception. What is peculiar about this change in rate is it comes after the mid-year adjustment to the rate in June 2022. The new rate…

Vermont Business Owners: Participate in the 2023 Annual Business Economic Survey

Jan 12, 2023
Davis & Hodgdon CPAs has once again partnered with the Vermont Chamber of Commerce in an effort to better understand Vermont small- to medium-sized business owners' perception of the business climate.…

Four Smart Personal Finance Resolutions for 2023

Jan 10, 2023
It’s that time of year when many people resolve to create better habits - both personally and professionally. Check out these four easy personal finance resolutions that could benefit you and your family! 1.      …

Start 2023 Right with These Three Bookkeeping Tips

Jan 09, 2023
January is a fantastic time to make a bookkeeping plan for the new year. Motivation levels are high and there hasn’t been time to fall behind yet! Think carefully about what your biggest road blocks were…

New QuickBooks Time Tracking Abilities

Jan 04, 2023
Owners can gain important insight into their business by tracking the time spent on various projects and jobs on any given day. Recognizing this advantage, QuickBooks has launched QuickBooks Time (QB…

All financial things you need for your business - under one roof

Dec 15, 2022
Every financial thing you need for your small business - all under one roof. There’s no better time for business owners to turn to a new Advisor! Davis & Hodgdon CPAs - Proactive, not reactive tax planning. Convergent…

Dealing with 1099-Ks for 2022 Tax Returns

Nov 30, 2022
TaxSpeaker.com - By now you have heard that there is a new reporting threshold for 3rd party payors and payment cards such as EBay, Facebook Marketplace and cash transfer applications (other than Zelle)…

2022 Year-End Tax Planning Tips for Individuals

Nov 09, 2022
This is a brief overview of several year-end tax saving strategies for individuals. Some are straightforward, while others require more analysis and review to tailor them to your particular tax and financial…

2022 Year-End Tax Planning Tips for Businesses

Nov 09, 2022
The following is a brief overview of year-end tax saving strategies for businesses.  Qualified Business Income (QBI) Deduction.  The Qualified Business Income Deduction, also known as the Section 199A…

IRS Reminder: Service providers, others may receive 1099-Ks for sales over $600 in early 2023

Nov 06, 2022
WASHINGTON — The Internal Revenue Service reminds taxpayers earning income from selling goods and/or providing services that they may receive Form 1099-K, Payment Card and Third-Party Network Transactions,…

Tax Tips for Homeowners

Nov 02, 2022
The changes that resulted from the Tax Cuts and Jobs Act (TCJA) back in 2018 had an effect on many homeowner’s tax breaks. The laws are complex and require documentation. Knowing the rules and planning…

Tax-Savvy Charitable Giving With QCDs Can Benefit Both Giver and Receiver

Oct 23, 2022
Tax-Savvy Charitable Giving With QCDs Can Benefit Both Giver and Receiver Kiplinger, CHARLES RAWL, CFP®, RICP®: Plenty of retirees like to give back to their communities through charitable donations,…

The 20 Percent Deduction for Qualifying Business Income Explained

Oct 17, 2022
The Tax Cuts and Jobs Act (TCJA) of 2017 had a significant impact on virtually every business and individual. Among those changes, Congress reduced the top tax rate for “C” corporations from 35% to a…

2022 Year-End Tax Planning Tips

Oct 10, 2022
There are still actions you can take (up until December 31, 2022) to reduce your 2022 tax liability!  Moves that include deferring income or harvesting investment losses could potentially minimize the…

Five Valuable Tips as You Prepare to File FAFSA

Oct 02, 2022
Breanna Sykes, a Wealth Advisor with our affiliated wealth planning firm *Copper Leaf Financial, has published a new article with tips for preparing to file FAFSA (Free Application for Federal Student…

Eligibility and the New Student Loan Forgiveness Program

Sep 20, 2022
Jackie Winkler, Associate Wealth Advisor with our affiliated wealth planning firm *Copper Leaf Financial has published a new article about the student loan forgiveness program.  While many details are…

Make an impact beyond your lifetime: Is it time to consider a charitable trust?

Sep 07, 2022
Michael L. Thompson, CAP®, AIF®, AEP®, is a Senior Wealth Advisor with our affiliated wealth planning firm *Copper Leaf Financial. He has published a new article about charitable trusts – a smart tool…

VEDA Short-Term Forgivable Loan Program

Aug 29, 2022
We have some important information to share with you about the new Vermont Economic Development Authority (VEDA) short-term forgivable loan program. VEDA announced that it will release guidance and begin…

Veterinarians: Have you heard about the business intelligence tool from VetSuccess?

Aug 22, 2022
Veterinarians have an easy way to monitor patient compliance with preventive care thanks to the Compliance Tracker, a business intelligence tool from VetSuccess. It is a monthly subscription-based report…