PADGETT BUSINESS SERVICES®
Vol. 2, 2021
A new year means new beginnings, and with tax season right around the corner that also means it’s time to make sure you have everything in order. We have a host of tax tips that will make sure you’re ready for April 15.
 
A new year also means new opportunities for businesses evaluating their payroll partner options. We believe it’s important to “buy local” when it comes to your payroll needs, and we’ve got a few helpful hints that may come in handy during your search.
 
Check out some of our latest blogs and make a plan to start 2021 right!
Five things to know about the changes to PPP
Earlier this month, the Small Business Administration officially opened up the Paycheck Protection Program (PPP) for a second round of funding, while also simplifying many of the processes and rules in place that guide it. As we begin to see the light at the end of the tunnel for the COVID-19 pandemic, we know this fresh infusion of funding can offer a needed bridge for many businesses trying to navigate these challenging economic times.

Unlike the first installment of PPP, which was rolled out quickly to help get cash in the hands of businesses in need, this new round of funding features more defined rules and important clarity that will aid potential borrowers in the process. If you're interested in seeking a first or second PPP loan, here are five things you should keep in mind.
What you ought to know about estimated tax payments
The economic impact of the COVID-19 pandemic has led to a surge in the growth of self-employed workers who rely on freelance opportunities or contract work. If you’re one of the countless Americans who have hung up your own shingle – or if you own property or collect money from investments – it’s important to have a strong understanding of estimated-tax payments and how to build out a viable plan for payment.

Without a plan for estimated taxes, you’re more likely to get hit with a larger than expected tax bill at the end of the year, not to mention face various penalties.
Tax season starts soon, so trust these tips when you file
It may lack the pomp and circumstance of the Opening Day of baseball season, but paying taxes is as American as our national pastime itself. And everyone needs their own game plan to navigate this year’s tax season, which the Internal Revenue Service recently announced would begin on February 12, 2021.

That’s the date where the agency will begin accepting and processing tax returns for 2020, building in some extra time to incorporate important programming work to support the various tax benefits and economic programs from the recent stimulus package signed into law last December.

As your tax season gets under way, trust these helpful tips to speed up your filing and limit the number of headaches as you work on your taxes.
Three reasons why 'buying local' is the right move when choosing a payroll partner
“Buying local” is an important sentiment these days, for a variety of reasons. It drives our local economies, and keeps more money circulating in our communities.

And it’s not just your favorite coffee shop or bookstore that offers that local touch, but also your accounting, tax or payroll partner. Having a local payroll service provider means trusting someone who knows your business intimately, thanks to an ongoing relationship of mutual respect and value. This is something that you don’t get with the larger payroll service providers.

Here are three reasons why trusting a local partner is key for your business’s payroll needs.
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