VOLUME 3 2023

With spring flowers blooming and Tax Day looming, it’s no surprise that many of us have “green” is on our minds. That’s why this month, we’re focusing on what you can do to save some money at tax time and help your business grow.

In this newsletter, we have your checklist of common business deductions and your guide to setting up your IRS account. You’ll learn the rules around tax-deductible employee gifts. You’ll also hear from Padgett client Jessica Riedell about the difference a supportive client network and a good accountant can make. Lastly, we’ve got a recap of some legislative changes that may negatively affect your taxes.

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What’s deductible? Your business deduction checklist

Wondering what tax deductions may be available for your business? Here are some common deductions to track and discuss with your tax professional.

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How Padgett helped Jessica Riedell’s business grow

The idea for The Riedell Group, LLC took root after the branch Jessica formerly worked for was closed. Now, with the support of Padgett Barrington, her business is thriving.

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Employee gifts: the must-know tax rules

If you want to show your staff how much they mean to you, make sure you know these tax rules for employee gifts and office parties.

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How to set up & access your IRS account

Your IRS account contains valuable information about your tax records and allows you to make tax payments or enter a payment plan. Here’s a guide to get started.

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10 reasons your tax refund may be lower than you expect

Recent legislative changes mean that when filing your 2022 tax return, you may be facing a smaller refund or a larger balance due.

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ERC – it's not too late!

Did you know that eligible business owners can still claim the Employee Retention Credit (ERC)? Since 2020, Padgett has helped hundreds of clients apply for the credit, and we've collectively received millions of dollars. If you want to learn more about your eligibility or get started applying for the ERC, contact us today.


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About Padgett

At PADGETT BUSINESS SERVICES®, we know the stresses of running a business can keep owners awake at night. Your business is your livelihood — and quite possibly the livelihood of your employees — so it’s no wonder it’s always on your mind. PADGETT is here to help. We offer tax, accounting, payroll and advisory services that can help your business reach new heights, allowing you to rest easy.

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ADVISORY

PADGETT BUSINESS SERVICES® is dedicated to meeting the accounting, tax, payroll, compliance and advisory needs of small businesses. This publication is intended for informational purposes only and should not be construed as tax or legal advice. Such information is by nature subject to revision and may not be the most current information available. You should seek advice from a PADGETT BUSINESS SERVICES® representative or an independent advisor before acting on any of the information contained in this document. Each office is independently owned and operated.