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Who's watching your money?

Steve Federspiel has solutions for small businesses and freelancers struggling with tax planning and payroll

Article by Todd Haight

Photography by Winterlayne Photography

Originally published in Troy City Lifestyle

Ugh. Tax planning and payroll. No one wants to think about that. Which is why we have people like Steve Federspiel.

Steve and his team at Padgett Business Services (troy.padgettadvisors.com) do the thinking – and the planning. It’s incredibly affordable, especially when you realize how much cash you might be losing with the wrong advisor.

“Bad things happen with poor tax planning,” warns Steve, Managing Partner. “Deductions that aren’t really deductions or questions about where the numbers came from. Clients often don’t have the answers, because they trusted the wrong advisor.”

Danny Nieri of Tony’s Pizzeria and Family Restaurant in Troy was Steve’s first client. More than 25 years later, he still trusts Steve.

“It’s the service. That’s why I stick with him. Steve handles both our personal and business accounts, and he goes above and beyond. If Steve says he’s going to do something, he does it. In my business, that’s what counts.

“His whole team is always friendly and quick. If you have a problem, they have a solution,” says Danny. “They give me peace of mind.”

While Steve provides tax planning for individuals and families, his specialty is entrepreneurs, freelancers and businesses under $5 million in revenue. His clients tend to be self-employed or small firms with fewer than two dozen employees.

“We provide a lot of value to small businesses, especially freelancers,” he says. “You’ll get overwhelmed if you do the bookkeeping, taxes or accounting yourself, but they’re right in our sweet spot.”

Life for Steve isn’t all taxes and payroll. There are other things that matter to him, like the number three. That’s the number of children he and his wife Katy have, all under age 4.

“My kids are my hobby,” he laughs. “We do a lot of nature walks. Jaycee Park is a great place. So is Firefighters Park. We also love the Troy Gym, where our kids take swim lessons.”

When he’s not watching Frozen or Cocomelon with the children, he’s supporting the Troy Chamber of Commerce or his church, Guardian Angels in Clawson, where his oldest attends preschool.

And always, he’s thinking about how his talented team of nine can help more individuals and small businesses leave an ever-shrinking tax footprint.

It starts by choosing the Padgett team. Steve makes the transition simple and seamless, and you start by working with him directly. “We’re local, right here in Troy, yet we have a network of national offices with resources to support you. And we always have ways to save on taxes. Come in and talk to us.”

Call Steve at (586) 474-4855 or email troyoffice@padgettsh.com.

“We provide a lot of value to small businesses, especially freelancers. You’ll get overwhelmed if you do the bookkeeping, taxes or accounting yourself, but it's right in our sweet spot.” – Steve Federspiel, Managing Partner

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