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VT Tax & Finance Blog

Vermont Business Owners Identify Key Areas of Concern

Vermont Business Owners Identify Key Areas of Concern

Aug 14, 2017
Nearly 150 Vermont businesses completed the latest semi-annual economic survey in July regarding the outlook of Vermont’s small- to medium-sized businesses.
Tips to Keep in Mind for Taxpayers Traveling for Charity

Tips to Keep in Mind for Taxpayers Traveling for Charity

Aug 02, 2017
During the summer, some taxpayers may travel because of their involvement with a qualified charity. These traveling taxpayers may be able to lower their taxes.
Tips to Keep in Mind on Income Taxes and Selling a Home

Tips to Keep in Mind on Income Taxes and Selling a Home

Aug 01, 2017
From the IRS: Homeowners may qualify to exclude from their income all or part of any gain from the sale of their main home.

WSBP Business Graduate, Cynthea's Spa, Turns 13

Jul 27, 2017
Congratulations on 13 years in business, Cynthea's Spa! Speaking of her experiences in Start Up: Comprehensive Business Planning, owner Cynthea Hausman says, "I have the tools in hand to do the data and run the numbers and see where I’m at, if my gut feeling is right or not."
High growth margins expected for Champlain College’s MS in accounting

High growth margins expected for Champlain College’s MS in accounting

Jul 25, 2017
Vermont Business Magazine - Champlain College Online, ranked among The U.S. News & World Report’s Best Colleges for the Northern Region, today introduced its Master of Science degree in Accounting. According…
Making Sense of Medicare

Making Sense of Medicare

Jul 24, 2017
Medicare is a complex program with many rules, regulations, and moving parts. If consumers fail to enroll at the right time, they can face serious penalties. If they don't buy sufficient insurance to cover…

How I Achieved Work/Life Balance at Public Accounting Firm

Jul 13, 2017
At Davis & Hodgdon Associates CPAs we strive to help our staff achieve a healthy “work-life balance” for their particular situation.  How? We offer flexible and creative work arrangements whenever it…
July 2017 Vermont Business Economic Survey

July 2017 Vermont Business Economic Survey

Jul 11, 2017
The semi-annual Vermont economic survey of small- to medium-sized businesses is now published.

IRS Offers Tips for Teenage Taxpayers with Summer Jobs

Jul 10, 2017
Students and teenagers often get summer jobs. This is a great way to earn extra spending money or to save for later. The IRS offers a few tax tips for taxpayers with a summer job.
How Does an Accountant Define Work/Life Balance?

How Does an Accountant Define Work/Life Balance?

Jul 06, 2017
Public Accounting firms all over the country are experiencing ultra-competitive recruitment challenges.
New Sales and Use Tax Exemption - Forestry Equipment and Machinery

New Sales and Use Tax Exemption - Forestry Equipment and Machinery

Jul 03, 2017
Beginning July 1, 2017, specific types of machinery, equipment, and repair parts traditionally used in forestry are now exempt from sales tax at the time of purchase. Secs. 17-18 of Act 75 and Secs. 9-10 of Act 77.

Vermont relies on property and personal income taxes

Jun 26, 2017
Vermont relies on property and personal income taxes

Charitable IRA Distributions: A Great Opportunity

Jun 13, 2017
Recent legislation making the $100,000 charitable IRA contribution permanent allows taxpayers to take full advantage of the numerous tax benefits of these contributions. - See more at: http://www.thetaxadviser.com/newsletters/2016/apr/charitable-ira-distributions.html#sthash.q48OXRn1.dpuf

Does Your Small Business Qualify for the Research and Development Tax Credit?

Jun 07, 2017
The R&D credit extension, part of the Protecting Americans from Tax Hikes (PATH) Act of 2015, presents several important enhancements to expand how R&D credit benefits can be currently utilized.

What Exempt Organizations Need to Know About Unrelated Business Income Tax (UBIT)

May 22, 2017
Most organizations exempt from tax under Internal Revenue Code (“IRC”) Section 501(a), including charitable, religious, scientific, and other organizations described in IRC Section 501(c), may be subject to tax on unrelated business income (UBIT), depending on the nature of the activities producing that income. It is important for an organization to distinguish between its tax-exempt purpose and its business activities.

IRS Tax Tip: Employee or Independent Contractor? Know the Rules

May 18, 2017
Like - Click this link to Add this page to your bookmarks Share - Click this link to Share this page through email or social media Print - Click this link to Print this page Employee or Independent Contractor? Know the Rules IRS Small Business Week Tax Tip 2017-02, May 1, 2017 Español The IRS encourages all businesses and business owners to know the rules when it comes to classifying a worker as an employee or an independent contractor. An employer must withhold income taxes and pay Social Security, Medicare taxes and unemployment tax on wages paid to an employee. Employers normally do not have to withhold or pay any taxes on payments to independent contractors.

IRS: Home Office Deduction Often Overlooked by Small Business Owners

May 17, 2017
IR-2017-96, May 5, 2017 Español WASHINGTON — The Internal Revenue Service today reminded small business owners who work from a home office that there are two options for claiming the Home Office Deduction. The Home Office Deduction is often overlooked by small business owners.
Balancing a Public Accounting Career and Family Demands

Balancing a Public Accounting Career and Family Demands

May 16, 2017
It’s no secret that work-life balance and compensation are among the most important factors for job seekers in any profession. In the accounting industry - an industry with steep, ultra-competitive recruitment challenges - there is an edge given to firms that offer a flexible, remote work environment.

Top Issues for Non Profits in 2017

May 09, 2017
According to the AICPA, Cybersecurity tops the list of "big" issues facing nonprofits in 2017.

Protecting Your Personal Information: Best Practices for Small Businesses

May 08, 2017
Published by the Small Business Committee: Most companies keep sensitive personal information in their files—names, Social Security numbers, credit card, or other account data— that identifies customers…