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8 Tips on Solving Customer Disputes Like a Pro

May 13th, 2024 | Uncategorized

No matter how carefully and congenially you run your business, customer disputes will likely happen from time to time. Some of the complaints may be people looking to negotiate a discount, “game the system” or even outright defraud you. But others could be legitimate complaints arising from mistakes on your company’s part, technological glitches or, perhaps worst of all, fraudulent actions by a third party. Whatever the case may be, you can protect your business’s reputation and even strengthen its brand by creating and maintaining an effective customer dispute resolution process that includes eight key features: 1. Easily accessible channels of communication. Post easy-to-find and clearly written directions on your website, social media accounts and other channels detailing how customers can report problems, suspected […]


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Transforming Your Accounting Practice for Long-Term Success: Insights from Amanda Aguillard

Gone are the days when simply crunching numbers and filing tax returns were enough to sustain a thriving practice. In this Federal Tax Updates podcast episode, Amanda Aguillard, COO at Padgett and member of the IRS Advisory Council, shares her expertise on transforming your accounting practice for sustained growth and profitability. The key to success, according to Aguillard, lies in three critical areas: right-sizing your client base, specializing your services and optimizing your processes. By focusing on these three essential elements, you can transform your accounting practice into a thriving, sustainable business that effectively meets your clients’ needs while supporting your long-term goals. Assessing and Grading Clients for a Right-Sized Practice One of the most crucial steps is objectively evaluating […]


Adding a Partner? Watch Out for Tax Traps!

There are several financial and legal implications when adding a new partner to a partnership. Here’s an example to illustrate: You and your partners are planning to admit a new partner. The new partner will acquire a one-third interest in the partnership by making a cash contribution to the business. Assume that your basis in your partnership interests is sufficient so that the decrease in your portions of the partnership’s liabilities because of the new partner’s entry won’t reduce your basis to zero. More complex than it seems Although adding a new partner may appear to be simple, it’s important to plan the new person’s entry properly to avoid various tax problems. Here are two issues to consider: 1. If […]


Luke Robison’s Spud Success with Padgett at His Side

Luke Robison, the owner of Luke Robison Farms, traces his roots in farming back four generations in the Klamath Basin. His journey into the world of agriculture began in 2010, when he seized the opportunity to grow potatoes for the Fresh Market. Despite hailing from a farming family, Luke didn’t inherit acres of land or a ready-made operation. Instead, armed with determination and his father’s initial support, he embarked on his own farming odyssey, renting land to sow his dreams. The early days were fraught with financial challenges. Market volatility in the Fresh Market potato industry dealt Luke a heavy blow, threatening to uproot his fledgling enterprise. But amidst the turmoil, a silver lining emerged. An opportunity arose to pivot […]


Featured Articles

An older couple sit at a table looking over paperwork with a young accountant.

Understanding IRAs: your retirement savings guide

With the recent passing of the SECURE 2.0 Act of 2022, you may have questions about the different types of Individual Retirement Accounts (IRAs) available. How do you choose what retirement plan is right for you?  IRAs are a powerful tool for retirement savings. They are savings plans that come with tax advantages to help taxpayers build a retirement fund. Each type of IRA has its own set of regulations and deadlines. Here’s a quick overview of the most common kinds:  Traditional IRA: Contributions to a traditional IRA may be tax deductible and earnings grow tax-deferred until distribution, which means you won’t pay taxes on your traditional IRA funds until you make a withdrawal. The contribution limit for 2022 is […]


Breaking Down the SECURE Act 2.0

Roger and Annie discuss the changes in the SECURE 2.0 Act of 2022 and how this impacts small business owners with regards to offering retirement plans to their employees. They also talk about recent changes in IRS regulations that could prove …


Latest Tax, Accounting & Financial Tips

2024 Q2 tax calendar: Key deadlines to watch out for

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2024. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to make sure you’re meeting all applicable deadlines and to learn more about the filing requirements. April 15 If you’re a calendar-year corporation, file a 2023 income tax return (Form 1120) or file for an automatic six-month extension (Form 7004) and pay any tax due. For corporations, pay the first installment of 2024 estimated income taxes. Complete and retain Form 1120-W (worksheet) for your records. For individuals, file a 2023 income tax return (Form 1040 or Form 1040-SR) or […]


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