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VT Tax & Finance Blog

WHAT FEATURES ARE IN QUICKBOOKS® 2010?

Aug 16, 2012
Here it is- the latest resource to keep you informed of important QuickBooks news, tips, and product updates QuickBooks® Pro 2010 Easily print checks, pay bills and track expenses. Track sales, sales taxes and customer payments. Manage payroll and payroll expenses; offer Direct Deposit (sold separately).

HOME OFFICE EXPENSE DEDUCTIONS

Aug 16, 2012
If you have a qualified office in your home, you may be able to deduct costs associated with maintaining the portion of your home exclusively used for business. For example, 100% of your expenses related to the office such as painting and upkeep are deductible, as well as a portion of indirect expenses

DETERMINING THE BASIS OF YOUR HOME

Aug 16, 2012
'Basis' refers to money you have invested in your home and have not received a tax deduction for. The biggest component of your home's basis is the original purchase price. To calculate 'basis' you generally start with the amount you paid for the home when you purchased

MOVING EXPENSE DEDUCTIONS

Aug 16, 2012
Homeowners who have recently relocated for work may be able to write off the cost of moving themselves, their household goods, their vehicles, and other reasonable costs (except meals) associated with the move. The move is subject to distance and time requirements.

REFINANCING DEDUCTIONS AND HOME SALE DEDUCTIONS

Aug 16, 2012
If you refinanced last year, you may be able to write-off any points you paid to buy down the mortgage rate. To do so, you deduct the points ratably over the life of the new loan, (unless part of the…

DEDUCTING MORTGAGE INTEREST AND TAXES

Aug 16, 2012
The most substantial tax deduction for many homeowners is the mortgage interest deduction. Mortgage interest on a primary residence (in addition to second residences) is usually tax-deductible (but not necessarily for Alternative Minimum Tax or AMT) for mortgage balances up to $1 million.

TAX TIPS FOR DOCTORS, BUSINESSPEOPLE, AND INDIVIDUALS

Aug 16, 2012
#1 Tax Tip for Doctors: Choose your form of business wisely. You can conduct your medical practice as a sole proprietorship, a partnership, a regular corporation (personal service corporation), an S corporation, a limited liability company (LLC), or a limited liability partnership (LLP).

TAX SEASON

Aug 16, 2012
With tax season coming to an end on April 15th, we'd like to share a few important tips, changes, and information regarding your taxes. The best way to see which deductions you qualify for, are to keep up to date on the ever-changing tax regulations. While we may not see certain changes in deductions and regulations until 2011, knowing....

20 YEARS AND COUNTING!

Aug 13, 2012
Every year at this time we like to pause to reflect back on the prior year, but it has particular significance this year. 2010 will be our 20th year as a practice. It is perhaps somewhat ironic that in 1990 when we opened the doors to the practice the economy was in a recession and here in 2010 we find ourselves just coming out of a very similar recession.

WELCOME MARI HUFF, CPA, CVA!!

We are pleased to announce a new addition to our team. Mari Huff, CPA, CVA recently relocated to Vermont from Florida. Mari has over 10 years of public accounting experience in tax, consulting and financial statement preparation and reviews. In addition to her CPA..

Start Up Scholarship Recipient Prepares to Launch New Business

Start Up Scholarship Recipient Prepares to Launch New Business