VT Tax & Finance Blog

Tax season isn't just busy for accountants. It's also a busy time of year for thieves who are looking to steal your identity. Tax season offers many opportunities for identity thieves to take advantage…

WILLISTON, Vt., February 3, 2020 – 140 Vermont businesses from diverse industries completed the latest annual economic survey in January regarding the outlook of Vermont’s small- to medium-sized businesses.…

The following is important information from the Vermont Department of Taxes regarding refundable and nonrefundable tax credits. A refundable tax credit can reduce your tax liability to below zero. If…

On Friday, December 20, 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…

It’s almost that time of year again—taxes. On your federal individual return for 2018, we saw some big changes this year that were ushered in by tax reform. This year there aren’t quite as many changes…

As I work with many small business owners and their bookkeepers, there is one particular task that seems to cause more issues than any other - properly recording credit card transactions in QuickBooks. Most…

You might wonder - Do I really need to reconcile my bank and credit card accounts? Yes, reconciling your financial accounts can help you identify bank errors, entry errors, bounced checks, uncashed checks,…

When it comes to retirement planning the consideration of health care expenses is critical and Health Savings Accounts (HSAs) are an option that most people don’t consider for this purpose. HSAs are designed…

If you have a Flexible Spending Account (FSA) through your employer do not delay! You must clean it out by December 31 if your employer hasn’t implemented the 2 1/2-month grace period or the $500 carryover…

In an effort to fund improvements to broadband Internet service in Vermont and to keep it affordable for Vermonters, there is now going to be a Universal Service Charge (USC) on prepaid calling cards beginning…

Announcement from the Vermont Department of Taxes: On Tuesday, December 17, the Department of Taxes, with representatives of other state agencies, will host events in Chittenden County as part of Gov.…

If your company has QuickBooks and uses a third-party vendor such as PayData, Paychex or ADP instead of Intuit for payroll it is important to know that your payroll transactions may not be captured the…

Year-end is right around the corner and it's time to consider strategies to ensure you take advantage of all possible tax saving options for your 2019 return(s). As a service to our clients, business…

There might be moves you can make NOW to reduce your 2019 personal taxes – but you will need to act soon! Tip: Double-check your withholding. If you had to much or too little tax withheld from your paychecks…

As a business owner time can often be your most limited resource, so don’t let your bookkeeping fall behind and create more work for you in the long run. When your financial records fall behind, it can…

Mary Beth Franklin, Investment News 10/10/19 - The Social Security Administration announced Thursday that benefits and the maximum amount of wages subject to payroll taxes will increase by 1.6% in 2020,…

One of the best ways to make your daily bookkeeping entries more efficient is through the use of bank and credit card feeds in QuickBooks Online. Setup of these bank and credit card links is easy to do…

If not, now is the time for a 2nd opinion if your current accountant isn't addressing how the new tax law is affecting you and your business. In light of the sweeping tax law changes, Davis & Hodgdon…

Are you ready to explore cloud-based bookkeeping solutions for your growing business? Are you happy with QuickBooks Desktop and not ready to make the leap to QuickBooks Online? Right Networks might be…

Posted by SHRM9/24/19 - By Lisa Nagele-Piazza, J.D., SHRM-SCP Employees who make less than $35,568 are now eligible for overtime pay under a final rule issued today by the U.S. Department of Labor (DOL).…