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VT Tax & Finance Blog

Vermont Department of Taxes issues refunds to unemployment benefit recipients

Sep 17, 2021
The Vermont Department of Taxes has begun issuing refunds to eligible taxpayers who received unemployment insurance benefits last year and electronically filed their 2020 Vermont Individual Income Tax Returns prior to the federal unemployment tax exclusion passed earlier this year.

Tax Credits for Going Green

Sep 15, 2021
These three federal tax credits may help defray part of the cost to make your home more energy efficient or to purchase a new plug-in vehicle.

It’s time to take an Evidence-based Approach to Your Investments

Sep 09, 2021
An evidence-based approach to your investment portfolio has a special focus on understanding the investment best practices and body of knowledge defined by the last 50-plus years of academic and practitioner research. This research is ongoing and continues to guide those who apply evidence based investing.

What is the SECURE Act and What Does it Mean for You?

Sep 02, 2021
In 2019 the Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law. The SECURE Act provides a mixed bag of incentives and obligations for retirement savers. Its intent is to make it easier for families to save more for retirement. Here is an overview of the most significant features of the law as it may pertain to you.

Recent Stimulus Payment Letters from White House Can Be Misunderstood

Aug 30, 2021
You may have received a letter from The White House recently that addresses the American Rescue Plan payments. The letter may provide a total amount of direct payments that were direct deposited to your…

Creating A Charitable Legacy

Aug 26, 2021
Some may feel uncomfortable about leaving their charitable mission in another’s hands, but it also might not be practical or optimal to donate all the dollars you wish within your lifetime.

Meet The Expert: Matt Cleare

Aug 23, 2021
Matt Cleare has been advising Davis & Hodgdon business clients for 8 years. He brings a wealth of experience to the table having worked in the private and public sector and specializing in accounting, business management and strategy, tax, and finance.

PPP Borrowers File for Forgiveness

Aug 19, 2021
The Small Business Administration Vermont District Office is reminding Paycheck Protection Program (PPP) borrowers to submit their "forgiveness" paperwork. If borrowers do not apply for forgiveness within 10 months after the last day of the covered period, then PPP loan payments are no longer deferred, and borrowers will begin making loan payments to their PPP lender.

Department of Education Announces Fourth Student Loan Payment Pause

Aug 18, 2021
On August 6, 2021, the U.S. Department of Education announced an extension of the pause on federal student loan payments to January 31, 2022. The payment moratorium, currently in effect for millions of…

IRS provide additional guidance to employers claiming the employee retention credit

Aug 12, 2021
The Treasury Department and the Internal Revenue Service issued further guidance on the employee retention credit, including guidance for employers who pay qualified wages after June 30, 2021, and before January 1, 2022, and additional guidance on miscellaneous issues that apply to the employee retention credit in both 2020 and 2021.

How to Know When Your Growing Business Needs a CPA Firm

Aug 11, 2021
Your small business is taking off and life is good! With growth comes the need to effectively manage and analyze your business’ (and your own) finances, and a lower-end or online tax service can only take you so far. Furthermore, a poorly prepared tax return and a well-prepared tax return can look identical to most business owners. But they’re not, and the stakes can be high when it’s not done well.

National Publication Names Davis & Hodgdon as a Best Accounting Firm to Work for in 2021

Aug 02, 2021
We are VERY excited to announce that for the fourth time Davis & Hodgdon Associates CPAs is included in Accounting Today's list of "Best Accounting Firms to Work for"! “We are extremely honored to be…

Inflation – What Investors Need to Know

Jul 29, 2021
As investors most of us have not dealt with sustained inflation for more than 40 years. However, many economists, such as former Treasury Secretary Larry Summers are now worried about the heightened risk of or rising inflation caused by massive fiscal and monetary stimulus provided by the federal reserve. Our economy is already seeing signs of strong recovery and every day we see evidence of increased prices on items like washing machines, lumber and even used cars.

Ready to Retire As a Business Owner? You Need an Exit Strategy

Jul 22, 2021
When you are ready to retire and sell your business, it is imperative to know what your company is worth, what documents you need to have ready, and who the potential buyer could be.

The Upside of Tax Season: Davis & Hodgdon’s 2021 Community Donation

Jul 16, 2021
Thanks to the responsiveness of our wonderful clients we are excited to announce that this year our firm will be donating $850 to two local nonprofits. This amount was split in half and based on input from clients and staff, $425 was given to Mercy Connections’ Women’s Small Business Program of Chittenden County and the Center for Women and Enterprise of Rutland County.

Mercy Connections Women's Small Business Program: Start Up

Jul 16, 2021
Mercy Connections Women's Small Business Program has a program called Start Up, which is a semester-long deep dive into business planning.

Meet Molly Passalacqua

Jul 15, 2021
We are very excited to introduce our new Wealth Advisor, Molly Passalacqua! Molly’s passion is to help Copper Leaf clients define their financial and lifestyle goals and develop customized plans for how those objectives can be achieved. The ultimate goal is a customized wealth management plan designed to integrate every aspect of their lives.

IRS Backlog

Jul 14, 2021
If you submitted your tax returns and are now waiting for your refunds or amended returns - don’t worry just yet. These may be taking so long because the IRS is experiencing a backlog.

Steps to Take to Walk Into Your First Home-Buying Experience with Confidence

Jul 12, 2021
Buying a home is a rite of passage for most Americans. If you are planning on taking this major step within the next year, Davis & Hodgdon Associates shares some things you can do now that will help you…

Legislative Update

Jul 08, 2021
The Department of Taxes has published its annual Legislative Highlights, summarizing the legislative initiatives that the Department followed closely and which became law this session.