Your Monthly Newsletter from Padgett

VOLUME 3 2024

Tax season is flying by! Are you keeping up with the latest tax news? It could affect you! In this newsletter, we’re going to dive into the IRS's latest efforts to combat questionable Employee Retention Tax Credit (ERTC) claims and explain the new final rule on independent contractors. We’ll also cover the ease and benefits of setting up your IRS account for seamless transactions and access to vital documents.

Are you venturing into entrepreneurship as a sole proprietor? Uncover nine crucial tax considerations to navigate your new journey successfully. Plus, we unravel the nuances between filing jointly or separately as a married couple for those who tied the knot in 2023.

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Update on IRS efforts to combat questionable ERTC claims

Learn more about voluntary disclosure and special withdrawal programs.

How to set up your IRS account

Learn how to create an online account to make payments, retrieve transcripts, and access other self-help tools.

9 tax considerations if you’re starting a business as a sole proprietor

Starting a business as a sole proprietor? Here’s what you need to know.

Filing jointly or separately as a married couple: What’s the difference?

If you got married in 2023, you need to know the details on the different filing statuses.

New final rule on independent contractors takes effect in March

Small business owners, be mindful of the latest final rule issued by the DOJ.

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.