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... 👇

05/26/2026

Honoring the brave men and women who made the ultimate sacrifice for our freedom. 🇺🇸 This Memorial Day, we remember and thank you for your service.

05/23/2026

Want to feel more confident with your business finances?

Start by learning these key terms. They’re the foundation of smart decision-making and long-term growth.

Save this post for when you're reading financial statements or planning your next move! No matter what stage you are in running your business, we're here to help.

05/21/2026

Having a small business accountant can make a world of difference for your business. Here's how:

1. Time savings: Spend more time growing your business while we handle bookkeeping, payroll, and financial tasks, freeing up your valuable time.

2. Financial guidance: We can address almost any business management topic, including budgeting, setting and tracking your goals, addressing cash flow issues and more.

3. Compliance confidence: We can help keep you informed of tax regulations and industry standards, helping you avoid costly penalties and fines.

Let us help you take your business to the next level!

05/07/2026

Be sure to check out these important May deadlines but while you’re planning ahead, there are a few other things individuals and small business owners may want to keep on their radar this month too.

• If you’re on extension, now’s the time to start gathering your information instead of waiting until later in the year
• Still waiting on your refund? The IRS “Where’s My Refund?” tool can help you track its status
• Watch out for scams — the IRS will never contact you by phone, email, or text asking for payment or personal information
• Planning for summer camps or childcare? Some expenses may qualify for tax benefits
• Hiring teens or seasonal employees this summer? Make sure you’re aware of federal and state labor law requirements before bringing employees on board

A little planning in May can help set you up for a smoother summer ahead!

04/27/2026

Q2 already… how did that happen?

Now’s a good time to take a step back and look at where your business stands. What’s working, what’s not, and what needs a little attention before things get busy again.

We pulled together 5 simple tips to help you reset and stay on track for the rest of the year.

And if you’re feeling a little unsure about your numbers, you don’t have to figure it out on your own. We’re here to help you make sense of it all and keep things moving in the right direction.

04/24/2026

You check your numbers and think, “We’re doing great.”

Sales are up.
Profit looks solid.

But somehow… your bank account says otherwise.

That can mean a cash flow issue, not a profit issue.

Your income statement might show a sale.
Your cash flow shows whether you’ve actually been paid.

And that gap? That’s where a lot of businesses start to feel stuck.

The hard part isn’t just having financial reports. It’s actually understanding what they’re telling you and what to do next.

That’s where having the right financial partner makes a difference.

We help business owners not just have the numbers, but actually understand them, so you can make decisions with more clarity and a lot less guesswork.

If your numbers haven’t quite been adding up lately, it might be time for a different kind of conversation.

04/24/2026

Summer is around the corner and it's kind of the perfect time to pick up a few things you don’t usually have time for.

If you’ve been wanting to better understand your numbers (without getting overwhelmed), our Financial Literacy for Small Business Owners White Paper is a great place to start. It breaks down key financial terms, highlights the areas that matter most, and shares real stories from fellow business owners who’ve been in your shoes.

Good one to save for your next coffee break or slow scroll moment.

Get your free copy here:

Financial literacy for small business owners Key financial insights for building your dream business

04/20/2026

Now that tax season is wrapped up, a lot of people start asking, “What’s next?”

For some, that means finally turning that business idea into something real.

If that’s you, this is a great time to get clear on what it takes to start strong, from funding to taxes to setting things up the right way.

Take a few minutes to read through this before you get started. 👇

As a new business owner, if you set things up the right way early on, you can save yourself a lot of stress later. Here’s where to focus.

04/15/2026

Tax season… we made it to Tax Day 🎉

Thank you to all of our clients who trusted us with your taxes this year. We know how important this is, and we don’t take that lightly.

Whether you’re filing today or finalizing an extension, we’re here to help make sure everything is handled the right way.

As we wrap up the season, we’re already looking ahead to what’s next, helping you stay organized, plan ahead, and make confident financial decisions year-round.

If you’re thinking about next steps, we’re here when you need us.

04/13/2026

So your accountant mentioned filing an extension and now you’re wondering what that actually means?

Short answer, it is more common than you think.

An extension gives you extra time to file, not extra time to pay. It is often used to make sure everything is complete and accurate, especially if you are still waiting on documents.

If your accountant recommends it, there is usually a good reason.

Have questions about your situation? Reach out. We are here to help.