This is a bonus episode from a recent webinar Annie and Roger did.

Prepare for Tax Season 2026 and the changes brought by the One Big Beautiful Bill Act. Join Federal Tax Updates co-hosts Roger Harris and Annie Schwab for a focused look at the most impactful provisions and what they mean for your clients. They break down the latest IRS updates, highlight the questions firms are already hearing, and share practical advice to help your firm prepare for the year ahead.

Roger Harris, EA - https://www.linkedin.com/in/rogerharrispbs/
Annie Schwab, CPA - https://www.linkedin.com/in/annie-schwab-852418261/

Learn more about Padgett: https://www.padgettadvisors.com/

🔔 NASBA-approved CPE and IRS-approved CE credits are offered via Earmark https://www.earmark.app/c/3168

Andres Costa and Emily Goodman have acquired four accounting practices since 2021, expanding from a single location to five offices with a team of ten. They break down their acquisition strategy, from finding deals and structuring payment terms to handling employee transitions and raising client fees. Roger and Annie dig into the hard realities of practice valuations, including why a $350,000 firm might only be worth $200,000 and what sellers need to fix before they can command top dollar

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

Chapters

• (00:00) - Introduction and Greetings
• (00:52) - Meet the Special Guests: Andre and Emily
• (01:55) - The Importance of Acquiring Firms
• (02:46) - Starting the Acquisition Journey
• (07:11) - First Acquisition Experiences
• (13:16) - Evaluating Potential Firms
• (26:20) - Maintaining and Scaling Operations
• (33:22) - Structuring Acquisition Deals
• (33:59) - Client Retention Strategies
• (35:18) - Evaluating Firm Value
• (37:03) - Challenges with Small Firms
• (40:15) - Owner Financing Benefits
• (48:17) - Raising Client Fees
• (51:02) - Transitioning Clients and Employees
• (59:32) - Final Advice for Buyers and Sellers

This podcast is a production of Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Former IRS Commissioner Danny Werfel and longtime agency communications chief Terry Lemons join Roger and Annie for a candid Thanksgiving conversation about the mounting challenges facing the agency heading into the 2026 filing season. The discussion covers budget cuts, staffing reductions, the lingering ERC backlog, and why a hollowed-out compliance function puts both taxpayers and tax professionals at greater risk.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

Chapters

• (00:00) - Welcome to Federal Tax Updates
• (01:22) - Introducing Special Guests: Terry Lemons and Danny Werfel
• (02:33) - Danny's Post-IRS Journey
• (08:03) - Terry Lemons' Post-IRS Activities
• (12:27) - Challenges Facing the IRS and Tax Professionals
• (19:52) - The Importance of IRS Compliance and Modernization
• (30:50) - Concerns About Workforce Sustainability
• (31:56) - Employee Retention Credit Issues
• (32:37) - Fraud and Government Response
• (35:30) - Impact of Government Shutdown on IRS Programs
• (36:53) - IRS Performance and Resource Allocation
• (40:52) - Challenges in Tax Compliance and Enforcement
• (46:17) - Preparing for the Upcoming Tax Season
• (51:19) - College Football Predictions
• (53:53) - Closing Remarks and Holiday Wishes

Connect with Danny Werfel
https://www.linkedin.com/in/danny-werfel-89441594

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twitter.com/FedTaxPod
facebook.com/FedTaxPod
linkedin.com/showcase/fedtaxpod

Connect with the Hosts on LinkedIn
Roger Harris - https://www.linkedin.com/in/rogerharrispbs/
Annie Schwab - https://www.linkedin.com/in/annie-schwab-852418261/

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This podcast is a production of Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.