OUR OFFICE

October 15, 2020

Our office is open. Our staff is working in the office as well as remotely. Our first priority is to keep everyone safe and healthy.


If you need to speak to anyone, please call our office at 802-223-6261.


If you need to drop off your information you may do so at any time by using the mail slot on our front door. Our foyer is disinfected daily and does have pens, paper, and envelopes for your use. You can also upload your information to the portal.

If you need to pick up information please do so by knocking on the front door or calling 802-223-6261 from our parking lot during normal business hours.

If you need to have a face-to-face meeting please call our office to schedule a meeting. We have a large conference room to accommodate physical distancing as well as clear barriers. We do ask that you wear your mask during the meeting as it is a mandate by the City of Montpelier. We also offer Zoom calls as an alternative to in-person meetings. 


 

 

TO BE IN THE KNOW (VT)

October 1, 2020

The Vermont Agency of Commerce and Development puts out a weekly newsletter regarding various Covid-19 updates including grants and reopening guidelines.

Click here to sign up

 

PPP UPDATE

June 5, 2020

Here's new information regarding the PPP. There's a webinar this afternoon being hosted by ACCD to provide new guidance that was passed by Congress. The webinar is at 2pm EST and the link can be found by clicking the link below.  Once on the page, scroll down where it says "PPP: there's still money available" to find the link to the webinar.

 

SAVE SMALL BUSINESS FUND

April 20, 2020

A new grant from the U.S. Chamber of Commerce Foundation aimed at aiding small businesses opens today, April 20th, at 12:00pm EST. Click the link below to see if you are eligible.

 

ECONOMIC STIMULUS INFORMATION

April 15, 2020

IRS.GOV has launched two sites, one for non-filers and one for filers to check the status of their payment. This site is changing daily so please take a moment to read the FAQ.

 

CARES ACT & SMALL BUSINESSES

April 10, 2020

We hope you are staying healthy and safe during these times of uncertainty and upheaval.  We know there is a lot of information out there, specifically as it relates to the CARES Act.  We are trying to digest and disseminate the information as quickly as we can in order to help our clients.  There are many new loans and credits available and many decision points along the way, and we are available to assist you in any way possible.


We wanted to make sure all of our self-employed individuals were aware of two of the options that might apply to you.


1 - Paycheck Protection Loans (PPP) that will be guaranteed by the Small Business Administration.  The amount available is 2.5 times your monthly payroll or your Schedule C income, and is potentially able to be forgiven. If not forgiven, the loan is at a very attractive interest rate and many banks are gearing up to process these loans. If forgiven, the cancellation of the debt is not taxable income.  If you are interested in pursuing the loan, we recommend that you contact your banker to confirm that they are on the SBA eligible list of lenders. There is a fixed amount of money available for this program, so applying early is a good idea.


2 - Another opportunity through the SBA is the Economic Injury Disaster Loan (EIDL) for $10,000.  Funds are made available, after completing an application with the SBA, generally within three business days (Although we believe this to be longer) . This loan advance will not have to be repaid.  This application is done on the SBA website  https://covid19relief.sba.gov/#/    This is not difficult to complete. You will need to know your business EIN or SSN, your gross revenue for 2019 and  your cost of goods sold, and your bank account information. If you are awarded the $10,000 and also apply for the PPP, the 10,000 will be netted against the PPP loan amount.


Also, if you are not currently able to work due to the Vermont stay at home order issued by Governor Scott which is likely to be extended, you can apply for unemployment.  The Department of Labor is actively working on putting this additional unemployment program in place. You should sign up for initial unemployment. Note that this information is changing daily and the application and updates can be found at https://labor.vermont.gov/CARESact_Vermont/SelfEmployed


We are trying to contact all of our self-employed individuals to ensure that you know about the programs that are available. If you have already been in touch with us, we are sorry for the duplicated communication. 


Please feel free to contact us if you have any questions about the different programs and what might be best for your specific circumstances.  If you call our main phone number, they can connect you to the person you work with most often, even though we are working remotely.

 

COVID-19 AND FILING DEADLINE

March 21, 2020

We hope that everyone is safe and healthy.


The IRS has officially extended the deadline for filing your Federal tax return, as well as paying any tax due, until July 15th.  We expect the State of Vermont and other States to follow the IRS and also extend the deadline.   


Even though the due date has been extended, we are ready and geared up to prepare and file your tax returns as soon as possible. If you have not already sent us your information, please send it to us by regular mail or by using our portal.  Please see our website at www.fsv-cpas.com for a link to the portal.


Thank you again for your business and please contact us if you have questions.


Phone: 802-223-6261

Fax: 802-223-1550

www.fsv-cpas.com

 

COVID-19 AND FILING DEADLINE

March 21, 2020

We hope that everyone is safe and healthy.


The IRS has officially extended the deadline for filing your Federal tax return, as well as paying any tax due, until July 15th.  We expect the State of Vermont and other States to follow the IRS and also extend the deadline.   


Even though the due date has been extended, we are ready and geared up to prepare and file your tax returns as soon as possible. If you have not already sent us your information, please send it to us by regular mail or by using our portal.  Please see our website at www.fsv-cpas.com for a link to the portal.


Thank you again for your business and please contact us if you have questions.


Phone: 802-223-6261

Fax: 802-223-1550

www.fsv-cpas.com

 

COVID-19 AND FILING DEADLINE

March 21, 2020

We hope that everyone is safe and healthy.


The IRS has officially extended the deadline for filing your Federal tax return, as well as paying any tax due, until July 15th.  We expect the State of Vermont and other States to follow the IRS and also extend the deadline.   


Even though the due date has been extended, we are ready and geared up to prepare and file your tax returns as soon as possible. If you have not already sent us your information, please send it to us by regular mail or by using our portal.  Please see our website at www.fsv-cpas.com for a link to the portal.


Thank you again for your business and please contact us if you have questions.


Phone: 802-223-6261

Fax: 802-223-1550

www.fsv-cpas.com

 

COVID-19 RESPONSE

March 18, 2020

Fothergill Segale & Valley, CPAs exists because of its community. The community of FSV is not just our clients, staff and their families but the community that surrounds us. COVID-19 is a threat to our community and we have made decisions in the last few days in order to protect that community, as we know you have as well.

We are increasing our social distancing policies to make sure our operations continue to run smoothly and to protect everyone's health. At our office we have locked the door to clients. Although our door is locked, we are open. We will have a limited staff at the FSV office and have the technology in place for most of our staff to continue working remotely. You will see little interruption in your interaction with us during your tax preparation and other accounting services during this time of social distancing.

As of today the filing deadline remains April 15, 2020 for individuals, corporations and fiduciary tax returns.  We suggest that you file on time. Please provide us with your information as soon as possible.  

We will be more likely to file for extensions this year due to the impact of the virus and because the Federal Government has extended the due date of the balance due to July 15th, in most cases.  We have not heard the status of state tax returns.  Of course, if you have a refund it would be best to file as soon as possible.

We are encouraging all clients to make use of our secure client portal, which can be found on our website at www.fsv-cpas.com.  If you need help with the set up please call our office at 802-223-6261.  There are many applications available to assist with the scanning of your documents. If you are not aware of any please contact us.

You also may drop your tax materials through our mail slot on our front door, which is cleaned and monitored daily, or use the US Mail, FedEx or UPS.  Our policy is to let the material that comes in via paper form to sit for two days before it is opened or scanned.

The primary delivery of your tax information will be done by mail or portal.  We will be able to coordinate pick up at our office for some if necessary.  Please communicate your preference to us. 

Again, as of today the IRS has extended the time to pay your taxes, without penalty, to July 15, 2020.  We are still gathering information on this and how it applies to 2020 estimates and the State of Vermont. 

Our firm is dedicated to providing quality service to you. We thank you for trusting us and supporting one another during this difficult time.

Feel free to reach out to us with any questions or concerns. We are here to listen and help in any way that we can.

Please take care of yourself and others.

Sincerely,


Fothergill Segale & Valley, CPAs

 

Fothergill Segale & Valley

P: 802-223-6261

F: 802-223-1550

143 Barre Street Montpelier VT 05602

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