VT Tax & Finance Blog

Scott announces $57.9 million investment in venture capital for Vermont entrepreneurs

Aug 15, 2022
State Small Business Credit Initiative Program to Establish Venture Capital Investment and Small Business Loans Vermont Business Magazine Governor Phil Scott, the Agency of Commerce and Community Development…

Meet the Partner: Mandy Bradley, CPA, M.S.

Aug 02, 2022
Mandy Bradley is one of the three Davis & Hodgdon CPAs partners. She became Partner in early 2015 and operates from and manages the Rutland office. Mandy’s concentration is in financial reporting and tax…

Five Ways to Pay for College

Aug 01, 2022
Breanna Sykes, a Wealth Advisor with our affiliated wealth planning firm *Copper Leaf Financial has published a new article of great interest for those with teenagers: Five Ways to Pay for College. FAFSA…

Inconsistent Tax Treatment of Student Debt Forgiveness Creates Confusion

Jul 25, 2022
Student debt forgiveness has been at the forefront of recent federal policy discussions, with President Biden exploring using executive action to cancel up to $10,000 in student loan debt per borrower.…

Here’s what taxpayers need to know about business related travel deductions

Jul 18, 2022
Business travel can be costly. Hotel bills, airfare or train tickets, cab fare, public transportation – it can all add up fast. The good news is business travelers may be able to off-set some of those…

IRS: Taxpayers now have more options to correct, amend returns electronically

Jul 11, 2022
WASHINGTON — The Internal Revenue Service announced that more forms can now be amended electronically. These include people filing corrections to the Form 1040-NR, U.S. Nonresident Alien Income Tax Return…

Tax Planning Tools During Times of Uncertainty

Jun 27, 2022
There are tax consequences to virtually any financial move you make – whether it’s investing, saving, spending, donating, or accumulating. Those tax considerations have a direct impact on how much money…

Automobile Use: 2022 Updates to the Standard Mileage Rate

Jun 23, 2022
Inflation rates continue to rise due to continued Supply Chain Shortages and the price of everyday essential items including gasoline are skyrocketing - with many paying more than $5.00 per gallon. The…

Business Owners: Use QuickBooks Online to Create and Manage Your Budget

Jun 22, 2022
Creating an annual budget for your business can be challenging, and that’s why many small businesses avoid it. Key findings from a survey done by Clutch suggest that when small businesses put the effort…

Highlights of the 2022 Vermont Legislative Session

Jun 21, 2022
The Vermont Department of Taxes has published its annual legislative highlights, summarizing the legislative initiatives that the Department followed closely and which became law this session. To download…

Corporate tax reform bill expected to benefit manufacturers in Vermont

Jun 06, 2022
Governor Phil Scott signed a corporate tax reform bill into law Tuesday that is expected to slash taxes for manufacturers in Vermont. Initially introduced last year to remove the sales tax on menstrual…

Energy Tax Credits and ESG

May 24, 2022
From electric vehicles to solar panels, “going green” can offer both environmental and financial benefits. With global conflicts and increased gas prices, now may be the time to explore reducing your carbon…

Legislature Ends: No Cloud Tax and Funding for Economic Development

May 24, 2022
The Legislature formally came to a close May 13, passing the largest budget in state history of $8.4 billion, fueled by American Rescue Plan Act (ARPA) funding. Among the highlights, the Cloud Computing…

High Inflation: How Long Will It Last?

May 09, 2022
In March 2022, the Consumer Price Index for All Urban Consumers (CPI-U), the most common measure of inflation, rose at an annual rate of 8.5%, the highest level since December 1981.1 It's not surprising…

Stay Ahead of Tax Planning During Times of Uncertainty

Apr 27, 2022
We couldn't be more excited to share the new article we've published on page 71 of the newest issue of Best of Burlington (click on the image below): *Copper Leaf Financial is an affiliated and separately…

Free Financial Calculators Available

Apr 11, 2022
As a convenience to our clients and friends, we have posted several different financial calculators on our website and we encourage you to check it out here: https://www.dh-cpa.com/financial-calculator-resources.html. Calculators for home financing, personal finance, retirement and savings are available for anyone to use.

Technical Assistance Grants Available to Vermont Small Businesses Impacted by COVID-19

Mar 24, 2022
The Regional Development Corporations of Vermont are part of a new grant program that will deliver technical assistance to small businesses to aid with business recovery from COVID-19 impacts.

How Charitable Clients And Foundations Can Help Ukraine

Mar 23, 2022
The humanitarian crisis in Ukraine is heart-wrenching and complex. In many respects, it’s similar to a natural disaster but it also poses distinct challenges that require both immediate and long-term support. Philanthropists, especially those with private foundations, are able to help in more agile and flexible ways that others cannot. Not only can they respond rapidly when a crisis occurs, they can also take a longer view to understand the full scope of the problem(s), pinpoint where they can make the greatest impact, and determine how to allocate their resources most effectively to boost established relief efforts and/or spawn new ones.

What to know about the differences between tax credits and deductions

Mar 14, 2022
There are key differences between tax credits and deductions. What to know before filing your return.

Cybersecurity for Nonprofits

Mar 09, 2022
If your nonprofit engages in any of the three activities below, it’s time to get serious about taking steps to address cybersecurity risks. US nonprofits that raise money in the European Union, or provide services to citizens of the EU, AND collect data about those citizens, must follow the EU's General Data Protection Regulations.