Kittrell & Klaskin, LLC

Kittrell & Klaskin, LLC Helping small business owners use their financials to make great decisions We're here to help you realize your dreams. Treat each client with the utmost respect.
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We founded Kittrell & Klaskin with a straightforward mission: to help small businesses succeed. Our small but mighty team provides highly personalized CFO services and accounting support. Focus on the things that matter most by allowing us to take care of your accounting needs. By providing actionable data and insights, we enable you to make decisions strategically. Whether you're just getting sta

rted or you've been in business for years, we’re here to help. Our company values are simple:

Make every interaction a pleasurable one. Keep the lines of communication open. Always strive to improve. Work and live in our values. These guiding principles have allowed us to see countless small businesses like yours grow. The passion and drive that it takes to start a business inspires us. We match your enthusiasm with our desire to provide the best financial support services available.

February is here, which means key tax deadlines are approaching! Stay ahead of the game and avoid penalties by keeping t...
02/04/2025

February is here, which means key tax deadlines are approaching! Stay ahead of the game and avoid penalties by keeping these important dates in mind.

Need help staying on track? We’re here to guide you through the process and keep your business tax-compliant. Reach out with any questions!

Now that tax season is officially open, let’s get your forms filed on time—stress-free! The January 31, 2025 deadline fo...
01/30/2025

Now that tax season is officially open, let’s get your forms filed on time—stress-free! The January 31, 2025 deadline for W-2s & 1099-NECs is approaching, and we’re here to help make the process simple and hassle-free. Whether you have employees or work with independent contractors, we’ve got the guidance you need.

Check out our latest article for everything you need to know, and reach out if you have questions—we’re here to support you!

The 2025 tax season is here, and an important deadline is just around the corner! If you run a business, make sure you’re prepared.

Thinking about switching to a payroll partner or getting a new one? Managing payroll can be time-consuming, stressful, a...
01/24/2025

Thinking about switching to a payroll partner or getting a new one? Managing payroll can be time-consuming, stressful, and—let’s face it—downright frustrating when mistakes happen. If you're wondering whether it’s time to upgrade or partner with a professional, here are some telltale signs:

👉 Frequent payroll errors or missed tax deadlines.
👉 Spending too much time managing payroll instead of running your business.
👉 Growing complexity: new employees, multiple locations, or expanded benefits.
👉 Employee complaints about late payments or lack of access to pay info.
👉 Struggling to stay compliant with ever-changing tax laws.

A payroll partner can help you save time, stay compliant, and keep your employees happy—all while reducing costly errors. Whether you’re a growing business or just tired of the hassle, the right partner can make payroll stress-free.

Ready to explore your options? Let us help you make the switch seamlessly.

Struggling to keep your IT costs under control? Small business owners, it’s time to take charge of your tech budget! Fro...
01/23/2025

Struggling to keep your IT costs under control? Small business owners, it’s time to take charge of your tech budget! From setting smart policies to auditing your tools and trimming cloud expenses, there are practical ways to save without sacrificing efficiency.

👉 Check out our latest article for actionable tips to manage IT spending while keeping your business competitive.

If your IT budget keeps spiraling out of control, don’t worry—you’re not alone. Here are some tips to help you manage your IT costs.

Tax season is around the corner! Now is the perfect time to get your documents in order before deadlines hit. For small ...
01/17/2025

Tax season is around the corner! Now is the perfect time to get your documents in order before deadlines hit. For small business owners, staying organized can make all the difference in navigating tax season stress-free. Check out our top tips below and explore more helpful tools in our resource center! https://www.padgettadvisors.com/tools-links/

Resources mentioned:
1. Tax documents checklist: https://www.padgettadvisors.com/tax-documents-checklist/
2. Asking your accountant the right questions: https://www.padgettadvisors.com/asking-your-accountant-the-right-questions/

We know every tax break counts when you’re running a small business! Did you know local business travel—like client meet...
01/15/2025

We know every tax break counts when you’re running a small business! Did you know local business travel—like client meetings or supply runs—could help lower your tax bill?

Save your receipts, track your miles, and make the most of those deductions. Give the article below a read and let us know if you have any questions. We're here to help you make the most of your tax season. 🤝

https://bit.ly/4gUabRQ

Did you know that some of the transportation costs you and your employees incur for your business might help you save on taxes?

01/08/2025
Sales forecasting is a powerful tool that helps business owners set goals, plan budgets, and address challenges before t...
01/03/2025

Sales forecasting is a powerful tool that helps business owners set goals, plan budgets, and address challenges before they happen. It’s a must-have for small businesses!

Wondering how to get started? We’re here to help with simple tips and best practices to make forecasting easier and more effective.

So, how are your sales looking for next year? It’s not just a question for your sales team—it's helpful to you, as a business owner.

01/02/2025

2024 has been a year full of achievements and growth for so many small businesses. As we step into 2025, we’re so grateful for everyone's support, and we're excited to continue partnering with you to support your goals and celebrate your successes.

From all of us at Padgett, here’s to a year of progress and prosperity. Let’s make it amazing together! 🥳

12/25/2024

We wish everyone a Merry Christmas and Happy Holidays from our family to yours! 🎄 🎁

As a small business owner, showing gratitude to your employees and customers this season can go a long way—and it might ...
12/16/2024

As a small business owner, showing gratitude to your employees and customers this season can go a long way—and it might even come with some tax perks! From thoughtful gifts to festive holiday parties, there are smart ways to spread joy while staying tax-savvy.

Check out our latest blog to learn:
✅ Which gifts could be tax-deductible
✅ How to maximize holiday party deductions
✅ Tips for keeping employee and customer appreciation tax-friendly

Let’s make this season merry, bright, and financially wise! 🎄🎁 Read more here: https://bit.ly/3RDwh12

How are you celebrating the holidays with your team?

You may want to show gratitude to employees and customers by giving them gifts or hosting holiday parties. Are these expense tax deductible?

Beyoncé saves 2.7MLessons learned from this example:1. It can cost a lot of money for legal representation in tax court2...
12/13/2024

Beyoncé saves 2.7M

Lessons learned from this example:

1. It can cost a lot of money for legal representation in tax court

2. It is worth it to save 2.7 million bucks

3. It pays to have records to substantiate your tax filings.

Pop superstar Beyoncé and the IRS agree that she owes $709.20 in tax and penalties instead of the nearly $2.7 million that the agency had asserted in a deficiency notice, according to a stipulated decision approved by the Tax Court.

The decision document in Knowles-Carter v. Commissioner, signed December 11 by Tax Court Judge Maurice B. Foley, states that Beyoncé has a tax deficiency of $591 and is liable for a section 6662(a) penalty of $118.20 for tax year 2018 and that she has no deficiency or penalty liability for tax year 2019.

Compared with the IRS’s deficiency notice, which asserted that Beyoncé owed $2,698,316.40 in tax and penalties for tax years 2018 and 2019, the stipulated decision “certainly is a taxpayer-friendly resolution,” Justin Miller of Evercore Wealth Management LLC told Tax Notes.

“I guess you could say that Beyoncé’s team made Lemonade out of lemons,” Miller said, referencing the name of the singer’s 2016 album. “It’s just a shame that Beyoncé likely had to spend tens of thousands of dollars on professional fees to dispute what ended up being less than $1,000 in taxes and penalties.”

Read more in Tax Notes: https://taxnotes.co/3VCnKwV

12/12/2024

"What do I need to get to my advisor before the year wraps up?"

If this question has crossed your mind, you’re not alone! As the year winds down, now’s the time to tackle those key tasks that will make tax season a breeze—for you and your advisor.

Here’s your checklist for wrapping up the year like a pro:

✅ Track down your mileage records if they’re part of your business expenses.
✅ Update your data and share it with your advisor so they can close out the year on time.
✅ Double-check W2 and 1099 details—make sure employee emails for e-delivery are correct!
✅ Review your fixed assets: Scrapped equipment? New purchases? Make sure it’s all accounted for.
✅ Plan team bonuses and pay them through your payroll system.
✅ Think ahead to 2025 benefits: Retirement options (hello, tax credits!), insurance, or even cell phone reimbursements.

Small steps now = big wins later. Let’s make tax time smooth and simple! What’s the first thing on your list to tackle? Let us know!

12/11/2024
Understanding what business meals you can deduct doesn’t have to be complicated. We’ve put together a clear guide for 20...
12/10/2024

Understanding what business meals you can deduct doesn’t have to be complicated. We’ve put together a clear guide for 2024 to help you make sense of the rules and stay confident when it comes to your expenses. Take a look and see how it applies to your business. We're always here if you have any questions!

The tax rules surrounding business-related meal and entertainment expenses have evolved over recent years. Here's the latest!

12/02/2024

If you're a small business owner, you've likely been preparing for the year-end. Here are some quick end of year do's and don'ts to help you successfully close out your year. Connect with your local Padgett office for more insights and support: https://www.padgettadvisors.com/locations/

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889 N Maize Road, Suite 112
Wichita, KS
67212

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