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VT Tax & Finance Blog

2020 Tax Planning Tip: Make the most of retirement accounts and HSAs

Oct 15, 2020
Use tax-deferred retirement accounts to shelter income from current taxes. Contributing to a tax-deferred retirement plan at work is a great way to minimize your current taxes. The money you contribute…

2020 Tax Planning Tip: Time your income and deductions

Oct 15, 2020
You may be able to defer some tax until next year by postponing the receipt of some income and paying some of next year’s deductible expenses this year. The benefit of deferring tax is that you gain another…

Now is the Time to Post Year-End Journal Entries

Oct 12, 2020
The end of 2020 is quickly approaching (thankfully). Now is the time to confirm that you have posted the adjusting journal entries that were given to you by your tax preparer with your 2019 corporate tax…

Virtual Webinar: Getting a Grip - Creating Efficiencies Through Virtual HR and Controller Services

Oct 06, 2020
Join Morgan Pratt & Matt Cleare, CPA, CGMA, Wednesday Oct. 28t at 8am for a virtual event! Click here for more info and to save your seat. Together, we will uncover the benefits of taking headache-causing…

IRS highlights employer credits for businesses during Small Business Week 

Sep 29, 2020
IRS highlights employer credits for businesses during Small Business Week 

Paying Employees – What are My Options?

Sep 15, 2020
When it comes to owning a business, payroll set up and management of it can be a struggle. Between hiring new employees, meeting payment deadlines, and filing tax forms, it can be daunting to start ups…

The Two Estate-Planning Documents Clients Need for College-Bound Kids

Sep 10, 2020
The Two Estate-Planning Documents Clients Need for College-Bound Kids

PPP Update: Vermont Economic Recovery and Relief Package

Aug 31, 2020
The following information about funds still available to Vermont businesses through the Economic Recovery and Relief package came from the Addison County Economic Development Corporation (ACEDC) via the…

Embracing Remote Bookkeeping During the Global Pandemic

Aug 18, 2020
The COVID-19 pandemic has forced many businesses to embrace remote working environments and allow their employees to work from home this year. In the business world, that means remote services like bookkeeping…

Applications for Vermont Economic Recovery Grants Are Still Available

Aug 10, 2020
Applications for Vermont Economic Recovery Grants Are Still Available

It's 2020 National Health Center Week!

Aug 10, 2020
This week, August 9-15, 2020, is National Health Center Week, and Davis & Hodgdon invites you to join in celebrating the work and significant impact of these community based, patient-centered organizations. This…

Paycheck Protection Program Update 8/5/2020

Aug 05, 2020
Paycheck Protection Program Update 8/5/2020

Thanks to the PPP, small business owners could face a huge tax bill this year

Jul 29, 2020
Thanks to the PPP, small business owners could face a huge tax bill this year

Paycheck Protection Program Update 7/28/2020

Jul 29, 2020
Paycheck Protection Program Update 7/28/2020

Additional CARES Act Support Available to Dentists

Jul 27, 2020
As part of the CARES Act, the Health and Human Services (HHS) was allocated $175 billion in relief funds allocated to the stimulate hospitals, health care providers, and front line workers. Dentists were…

Time Sensitive Information About RMDs

Jul 06, 2020
The IRS has recently provided additional guidance pertaining to 1) the waiver of required minimum distributions – in particular for those who took distributions in January or February, and 2) added clarification…

VSBDC: Vermont Economic Recovery and Relief Package

Jul 01, 2020
The following is information from the June 30 newsletter by Linda Rossi state director of the Vermont Small Business Development Center. We suggest reading the link documents in their entirety. Use the…

Paycheck Protection Update for 6/30/2020

Jun 30, 2020
Following is this week's status update for you in regards to the Paycheck Protection Program. There is a lot covered in this update as a result of the recent release of new information about PPP loan forgiveness. 15…

Why Having Up-to-Date Bookkeeping Records is Crucial to the Success of Your Business

Jun 30, 2020
It cannot be overstated - the benefits of keeping your books up to date is critical to the success of your business. Why? It gives you a better understanding of the overall financial health of your…

Leonine: Vermont Legislators offer $170 million for business relief

Jun 29, 2020
Leonine Public Affairs - The Vermont Legislature spent long hours every day last week working to finalize tax and spending bills for the first quarter of FY21 and allocate hundreds of millions of dollars…