Padgett Business Services

08/26/2026

"I started an LLC... now what?" 🤔

If you're a creator or small business owner who formed an LLC this year, there's one thing you need to know: it doesn't automatically change how you're taxed.

Sole prop, S Corp, C Corp? The default isn't always the best fit, and that election isn't automatic either.

This is just one of 4 real questions we're answering in this episode of Sounds Familiar, our series where we tackle the tax and business questions we hear from small business owners every day.

🎥 Watch the full episode on YouTube to catch all four: https://www.youtube.com/watch?v=W835R-9Bs3A&feature=youtu.be

08/19/2026

Penalties. Notices. Missed deadlines. Tax problems rarely show up one at a time, so what's the smartest first move when they do? 👇

Tax problems can happen to even the most organized business owners. Fortunately, you can get back on track by addressing them strategically.

08/10/2026

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08/06/2026

In this month's newsletter, learn how stress testing can help protect your business, tips for building a winning pitch deck, how to get your bookkeeping back on track, and more. https://conta.cc/4geUuXu

Not getting our newsletter? Sign up now! https://conta.cc/3cW9qIv

08/05/2026

Running a business today means navigating a lot you can't control: inflation, shifting trade policies, cybersecurity risks, and a market that seems to change by the week. You can't predict every disruption, but you can get a clearer picture of how your business would hold up if one hit.

That's the idea behind stress testing. It's a concept that became well known in banking after 2008, but you don't need a complex regulatory model to put it to work in your own business. At its core, it's really just asking good "what if" questions: What happens to your cash flow if a major customer walks away? If borrowing costs jump? If a key supplier raises prices overnight?

A solid stress test looks across a few different areas:

1. Operational risks like supply chain issues, tech failures, or staffing shortages
2. Financial risks like cash flow gaps, credit issues, or rising interest rates
3. Compliance risks tied to changing tax laws and regulations
4. Strategic risks like new competitors or shifting customer preferences

Once you know where your vulnerabilities are, the real value comes from talking them through with your team and the advisors you trust, so you can build a plan before you actually need one.

Risk management isn't something you set once and forget either. Your business changes, your industry changes, and your plan should keep up.

Want to see how this actually plays out and what steps to take next? We broke it all down on the blog: https://bit.ly/4bzrGXf

07/30/2026

Your story might be what gets an investor's attention, but your numbers are what keep it. Before you build your pitch deck, make sure the financials behind it can hold up to real questions.

That's the part we help small business owners get right. Let's make sure your financials are ready to back up your story.

07/29/2026

We're thrilled to welcome Rob Feldman, CPA, as a new Padgett franchisee. Rob is the owner and president of Meredith Elkins & Feldman in Morristown, Tennessee, and brings more than a decade of accounting and tax experience to the Padgett network.

Rob has been serving individuals and small businesses since 2011 after earning his master's degree in accountancy with a concentration in taxation from the University of Tennessee-Knoxville. His background also includes several years in retail management, giving him valuable firsthand insight into the challenges and opportunities business owners face every day.

Throughout his career, Rob has been committed to helping clients navigate tax, accounting, and financial decisions with confidence. He takes a relationship-focused approach, providing practical guidance and personalized service designed to support long-term success.

Beyond his professional work, Rob is deeply involved in his local community through True Life Church in Jefferson City, Tennessee, where he serves on the finance team, teaches personal financial management courses, provides financial coaching, and leads a small group.

We're so excited you're here. Welcome to the Padgett family, Rob!

07/29/2026

Nothing says "we're really doing this" like arguing over LLC vs. S corp with your business partner at 9pm on a Tuesday. Save yourselves the group chat spiral, we broke it down for you 😉

07/23/2026

Here's a little secret- you're probably not as behind as you think.

Bookkeeping has a funny way of getting pushed aside while you're busy actually running your business. Before you know it, you're digging through receipts, wondering when you last reconciled your accounts.

BUT, You can absolutely get back on track.

Our latest article shares where to start, how to prioritize, and why catching up now can make tax season (and running your business) a whole lot less stressful.

Read the full article below!

Running a business requires juggling countless responsibilities. Not surprisingly, bookkeeping often end up on the bottom of to-do lists.

07/16/2026

Reminder, small business owners! July 31 is an important deadline with a few key filings due. If applicable to your business, don't forget to... 👇

07/01/2026

If your business finances feel completely out of control right now, read this.

First, take a breath. You are not the only business owner who has felt this way, even if it seems like everyone else has it figured out. The unopened envelopes, the login you have been avoiding, the quiet dread when someone mentions taxes. It is heavy, and it is a lot more common than anyone admits out loud.

And here is the thing worth saying clearly: feeling behind is not a character flaw. It usually just means you have been busy keeping the business alive, and the financial side got loud while you were not looking. That is it. No shame in it.

When you are ready, here is a calm way to start. Not all at once. Just one step.

1️⃣ Get a clear picture of where you stand. You cannot fix what you cannot see. Pull the numbers together, even messy ones, so you know what you are actually working with. Clarity, even uncomfortable clarity, is a relief compared to not knowing.

2️⃣ Focus on the most urgent priorities first. You do not have to solve everything today. Find the few things that truly cannot wait, like payroll, a looming deadline, or a bill with real consequences, and start there. The rest can line up behind them.

3️⃣ Ask for help before things get worse. This is the one most people wait too long on. You do not have to untangle it alone, and the earlier someone steps in, the more options you tend to have.

That is where our team can come in. We have sat with a lot of business owners on exactly this kind of day. No judgment, just a plan. If the picture feels like too much to face on your own, reach out. We will help you find the first step, then the next one.

06/29/2026

Tag yourself, we won't tell🫢

Whether you are the Shoebox Keeper or the Color-Coded Overachiever, tax season hits different for everyone. The good news: you don't have to do it solo. If you would rather be the Delegator next year, we should talk.

06/23/2026

Every legitimate tax deduction matters when you're self-employed.

Yet many business owners miss out on valuable deductions simply because they're unsure what qualifies. From home office expenses to business travel and mileage, understanding the rules can make a meaningful difference at tax time.

Read our latest blog to discover five commonly overlooked deductions and learn how to maximize your tax savings.

Whether you're a sole proprietor, freelancer, or side hustler, here's a straightforward overview of how business deductions work.

06/19/2026

Be honest: how many of these did you nod at?

DIY bookkeeping often works great in the early days. But as your business grows, the receipts-and-vibes method tends to start costing you time, clarity, and sometimes money.

If a few of these hit home, it may be time for a hand. We are here when you are ready.

06/19/2026

You started a business. You didn't sign up to become an accountant.

When you launched, you were focused on the work, the customers, the thing you are actually great at. The bookkeeping was a "figure it out later" problem.

And for a while, later never comes, because things are working. You are busy. Money is coming in. The receipts live in a folder, or a drawer, or your inbox. You will get organized once things slow down.

Then the small stuff starts to add up.

A deduction slips by because no one told you it existed, so you pay more tax than you had to. A quarterly deadline comes and goes before it is on your radar. Tax season arrives, the bill is bigger than you pictured, and suddenly you are covering a number you never saw coming.

Here is what we want you to hear: none of that means you did anything wrong. It is just what often happens when one person is running the business and tracking the finances at the same time. There is only so much you can carry.

The good news is that most of it is avoidable. Not with a bigger spreadsheet or a longer to-do list, but with someone in your corner who keeps an eye on the numbers while you run the show.

Someone who catches the deductions, keeps the deadlines in view, and helps the surprises get a lot less surprising.

That is what a local Padgett office is for.

If any of this sounds a little too familiar, reach out. Every situation is different, so let's talk through yours.

06/15/2026

Summer hiring season is here 🌞 Are you bringing on extra help this year, and if so, what's your biggest "I have no idea what I'm doing" question? Drop it below!

06/11/2026

Just because the answer is online doesn't mean it's the right answer. 🫣

06/05/2026

Mid-year check-in! ✅ Are your June tax deadlines handled?

If you're a small business owner, now's the time to confirm your Q2 estimated payment is squared away and your books are on track for the second half of the year.
Feeling behind? Let's talk.

06/03/2026

Does it feel like everything costs more these days?

You're probably not imagining it. Many small business owners are feeling the pressure of rising costs, whether it's inventory, supplies, payroll, or just the day-to-day expenses of running a business.

The good news is that you don't have to simply absorb every increase and hope things improve. There are practical steps you can take to protect your cash flow, maintain profitability, and make your business more resilient.

We put together a blog with a few ideas to help you navigate rising costs and identify opportunities you may not have considered.

📖 Read it here: https://www.padgettadvisors.com/blog/rising-costs-heres-what-small-business-owners-can-do-now/

And if you'd like to talk through your specific situation, we're always happy to help. Sometimes a conversation and a fresh set of eyes on your numbers can make all the difference.

05/29/2026

Every year, people come to us after a frustrating experience with their previous accountant. If that's you, we'd love to help. 👇 Reach out to us anytime.