Padgett Troy

10/07/2026

The deadline to file for an extension is October 15. If you haven’t filed yet, now is the time to get it done! Returns that aren’t filed by the deadline may be subject to a failure-to-file penalty.

October is also a great time to take a look at your tax withholdings and make sure they’re still on track. If adjustments are needed, we’re here to help.

Don’t wait until the end of the year to review your tax situation. A little planning now can make a big difference later.

10/03/2026

Let's be real. Sometimes you need to take money out of the business, and that's okay.

If you own a C corp, just know a dividend may not be your only option, and it's not always the cheapest one tax-wise. A few other ways to think about it:

1️⃣ Get repaid for money you've loaned the business
2️⃣ Borrow from the business (with real paperwork)
3️⃣ Adjust your pay or take certain benefits
4️⃣ Rent property or equipment to the business
5️⃣ Sell property to the business

Not sure which one fits? If you're thinking about making a move before the year wraps up, we're always here to chat.

09/23/2026

What if the biggest threat to your business isn’t a lack of customers?

Sometimes the warning signs are much quieter: cash flow starts getting tighter, profit margins shrink, payroll becomes harder to cover, or another tax bill comes as a surprise.

None of those things necessarily mean your business is failing. But they can be signs that something needs attention.

The problem is, if no one is looking at your numbers until tax time, you may not see those warning signs until there are fewer options left.

That’s where proactive financial support can make a difference. Regularly reviewing your numbers can help you spot trends, plan ahead, and make decisions based on where your business is today, not where it was a year ago.

So ask yourself: Are you getting information about your business when you can still do something with it?

Here's a closer look at the warning signs to watch for and what proactive financial support can actually look like for a small business owner.

Most small businesses don’t close because the idea was bad. They close because of financial blind spots that no one was watching closely.

09/04/2026

Every business owner remembers the moment they realized something wasn't adding up.

Maybe it was scrambling to pull numbers together before a tax deadline. Maybe it was watching a good month on paper somehow turn into a cash crunch three weeks later. Maybe it was simply not knowing, with any real confidence, whether now was the right time to hire, expand or take on that next big opportunity.

The businesses that get past that moment aren't the ones that guess better. They're the ones that build a clear, accurate picture of where they actually stand, and use it to make every decision that follows.

So what does that picture actually include, and how do you know if yours is missing something important?

The full story's below.

Whether your goal is to improve cash flow, launch a new offering or expand, accurate data enables you to make decisions confidently.

08/26/2026

"I started an LLC... now what?" 🤔

If you're a creator or small business owner who formed an LLC this year, there's one thing you need to know: it doesn't automatically change how you're taxed.

Sole prop, S Corp, C Corp? The default isn't always the best fit, and that election isn't automatic either.

This is just one of 4 real questions we're answering in this episode of Sounds Familiar, our series where we tackle the tax and business questions we hear from small business owners every day.

🎥 Watch the full episode on YouTube to catch all four: https://www.youtube.com/watch?v=W835R-9Bs3A&feature=youtu.be

08/19/2026

Penalties. Notices. Missed deadlines. Tax problems rarely show up one at a time, so what's the smartest first move when they do? 👇

Tax problems can happen to even the most organized business owners. Fortunately, you can get back on track by addressing them strategically.

08/14/2026

😔💔

08/07/2026

Running a business today means navigating a lot you can't control: inflation, shifting trade policies, cybersecurity risks, and a market that seems to change by the week. You can't predict every disruption, but you can get a clearer picture of how your business would hold up if one hit.

That's the idea behind stress testing. It's a concept that became well known in banking after 2008, but you don't need a complex regulatory model to put it to work in your own business. At its core, it's really just asking good "what if" questions: What happens to your cash flow if a major customer walks away? If borrowing costs jump? If a key supplier raises prices overnight?

A solid stress test looks across a few different areas:

1. Operational risks like supply chain issues, tech failures, or staffing shortages
2. Financial risks like cash flow gaps, credit issues, or rising interest rates
3. Compliance risks tied to changing tax laws and regulations
4. Strategic risks like new competitors or shifting customer preferences

Once you know where your vulnerabilities are, the real value comes from talking them through with your team and the advisors you trust, so you can build a plan before you actually need one.

Risk management isn't something you set once and forget either. Your business changes, your industry changes, and your plan should keep up.

Want to see how this actually plays out and what steps to take next? We broke it all down on the blog: https://bit.ly/4bzrGXf

07/28/2026

Nothing says "we're really doing this" like arguing over LLC vs. S corp with your business partner at 9pm on a Tuesday. Save yourselves the group chat spiral, we broke it down for you 😉

07/23/2026

Here's a little secret- you're probably not as behind as you think.

Bookkeeping has a funny way of getting pushed aside while you're busy actually running your business. Before you know it, you're digging through receipts, wondering when you last reconciled your accounts.

BUT, You can absolutely get back on track.

Our latest article shares where to start, how to prioritize, and why catching up now can make tax season (and running your business) a whole lot less stressful.

Read the full article below!

Running a business requires juggling countless responsibilities. Not surprisingly, bookkeeping often end up on the bottom of to-do lists.