Your Monthly Newsletter from Padgett

VOLUME 10 2023

As of last month, the Internal Revenue Service has temporarily halted the processing of Employee Retention Credit claims due to an uptick in fraudulent submissions. In this edition of our newsletter, we'll delve into this pause and its potential impact on your ongoing or forthcoming filing process. Additionally, we're sharing invaluable tax tips for self-employed individuals and small business owners, illuminating key obligations and deductions that can maximize your savings strategy.

We're thrilled to also share a remarkable success story featuring Shahrukh Siddiqui, who, with the support of Padgett Mobile, transformed his journey from being a restauranteur to a thriving force in the car sales industry.

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What the ERC pause means for small business owners

If you’ve already filed or are in the process of filing for the ERC, here’s how the pause could affect you.

How Padgett helped drive Shahrukh Siddiqui’s journey to success

From restauranteur to car sales mogul, read how Shahrukh was able to grow his business with Padgett Mobile at his side.

Tax tips for self-employed individuals

Learn about self-employment tax obligations and deductions to maximize your savings.

8 Tax deductions every small business owner should know

Did you know you can deduct the business use of your home and car? Check out this guide to learn more about deductions!

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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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.