VT Tax & Finance Blog

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…

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.

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.

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.

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…

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.

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.

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…

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.

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.

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 has a program called Start Up, which is a semester-long deep dive into business planning.

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.

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.

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…

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.

The Agency of Administration Department of taxes knows that tax law presents a learning curve for businesses. To make it easier for operators to understand the law, the Audit division has started a campaign to educate businesses about common tax errors before they happen. This approach saves money and time for both businesses and the State. Throughout this campaign, Audit will be reaching out to different business sectors to provide guidance directly related to their work, and when applicable, point them to specific materials on the Department’s website.

Generally, it is wise to have a valuation performed every few years. A thorough valuation includes several complex steps including a careful analysis of the company's historical earnings and a calculated determination of a capitalization rate which corresponds to an appropriate rate for a safe return.

The Internal Revenue Service, the U.S. Department of the Treasury, and the Bureau of the Fiscal Service announced they have disbursed more than 1.8 million additional Economic Impact Payments under the American Rescue Plan.

With all of the QuickBooks Online subscription levels it can be difficult to know which one is right for your business. Perhaps you started out at one subscription level but as your business has grown you are finding that the features of that plan no longer fit your business’ needs. The goal of this blog post is to help you make the right choice so you can balance having the features you need while not paying for those that you don’t.