Your Monthly Newsletter from Padgett

VOLUME 12 2023

As we bid farewell to 2023, our final newsletter of the year is packed with valuable insights for small business owners. You’ll uncover how a cost segregation study could be a game-changer, potentially reducing taxes and enhancing your cash flow, and how the 2024 inflation-adjusted tax parameters might influence your business. We also go over new per diem travel rates that could make documenting travel expenses much easier.

If you’re thinking about starting a business, we'll go over key considerations as well as share an incredible success story from Greg LeVon who partnered with Padgett Lakeville and grew his business to become a 6-million-dollar revenue insurance agency.

If you have an employer or want to explain to your employees how investing in a 401(k) could be beneficial, we’ve provided you with a quick read to go over how it works.

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A cost segregation study may cut taxes and boost cash flow

Here's how this study may allow you to accelerate depreciation deductions on certain items.

Key 2024 inflation adjusted tax parameters for small businesses and their owners

Whether you run an LLC or are a sole proprietor, here’s how these rates can affect you.

New per diem business travel rates kicked in on October 1

Frustrated about documenting travel expenses? There may now be a simpler way.

Choosing a business entity: Which way to go?

Here are the tax implications to consider when starting a business.

Greg LeVon’s Financial Journey with Pivotal Padgett Partnership

With Padgett Lakeville at his side, here’s how Greg grew a multimillion-dollar business.

Contributing to your employer’s 401(k) plan: How it works

We cover the tax benefits, matching contributions, and how making withdrawals work.

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.