Ballard & Company, Ltd.

11/05/2026

It’s time to address year-end tax planning, especially if your business is booming. Start by projecting your 2026 tax obligation and assessing whether estimated payments made throughout the year are sufficient. You may need to adjust your fourth payment to potentially avoid (or minimize) underpayment penalties.

Also consider tax-reduction strategies, such as timing revenue and expenses, taking advantage of the qualified business income deduction, contributing to a retirement plan and leveraging first-year depreciation write-offs for eligible asset purchases.

These moves require careful coordination, so contact us to explore your options. We can help develop a plan tailored to your situation.

11/04/2026

Tax laws change. Household bills creep higher. But keeping more of your hard-earned money doesn't have to be complicated. Discover a few things worth knowing in this month's newsletter.

Just when you thought you had the tax code figured out, it's time to get acquainted with another round of changes. And speaking of changes, the 2027 Social Security inflation adjustments have been announced. In this month's newsletter, we explore new tax rules for 2026, including several provisions....

11/03/2026

Are you separating or divorcing this year? Decisions made before your divorce is finalized can affect your 2026 income tax liability and your tax situation in future years. Some of the most critical tax issues to consider as you work through a separation or divorce are related to: 1) tax filing status and, if you have dependent children, who’ll claim them for tax purposes, 2) support payments, 3) home ownership, 4) retirement accounts, and 5) business interests. We can help you evaluate the tax consequences of your separation or divorce so you can make informed decisions before year end. Contact us to get started.

11/01/2026

Retirement is far from most teenagers’ minds when they get their first jobs. But those early earnings create a significant tax-advantaged savings opportunity. Even modest IRA contributions now can substantially multiply over time. For example, just $2,000 contributed to an IRA earning 5% annually will grow to nearly $23,000 50 years later. A Roth IRA can be especially powerful because qualified distributions will be tax-free. For 2026, the annual contribution limit for IRAs is the lesser of taxable compensation or $7,500. 2026 contributions can be made until April 15, 2027, but the income to support them must be earned by Dec. 31, 2026. Contact us to discuss tax-smart planning for your teen.

10/30/2026

Health Savings Accounts offer a powerful tax-advantaged way to pay for medical expenses. But they also come with some hidden tax traps. Here's what everyone should know.

Here's a tax tip worth keeping in your back pocket. Some may need it now, while others simply need to know this quirk exists.

10/29/2026

Renewing your business’s employee health plan requires a close look at both cost and coverage. Employers’ health benefit costs per employee are projected to increase by an average of 8.2% in 2027. Before choosing a plan, review enrollment, employee feedback and claims data with your benefits consultant to learn which benefits workers use and value. Compare options on the same basis, including deductibles, out-of-pocket costs and provider networks. Prescription drug benefits are among the fastest-growing costs, so pay particular attention to pharmacy coverage. Contact us for help assessing the financial impact of your choices and building your selected plan into next year’s budget.

10/27/2026

Interim financial reports produced monthly or quarterly can provide your business with more timely information than year-end financial statements. You can use this data to spot emerging problems and opportunities. Compare each interim report with your budget and financial reporting from the same period of the previous year. Account for seasonality, but don’t focus solely on revenue. Higher labor costs or excessive discounting may increase sales while profit margins shrink. Unexpected results in interim reports don’t necessarily signal a crisis, but you should investigate them. Contact us for help setting up interim reports and interpreting them.

10/25/2026

Business owners often have more complex tax situations that can trigger an IRS audit. The good news is that with proper preparation, detailed records and professional guidance, you can make the process far less stressful.

Some returns may be selected randomly, but the IRS also has some audit hot buttons. Examples include significant differences between current and prior-year returns, repeated business losses, profit margins and expenses that differ substantially from similar businesses, and mathematical errors.

If you receive an IRS notice, don’t panic; contact us immediately. We can help you understand the issues, gather the needed documents and respond to the inquiries effectively.

10/23/2026

If you make a mistake on your tax return, it may be noticed by the IRS. Here are some of the most common causes.

October 15th marks the end of the 2025 tax filing season. Now the formal audit period for 2025 tax returns is underway. Here are some tips to be prepared.

10/23/2026

If you want to sell your business, receiving the purchase price over time in an installment sale may allow you to spread your gain — and the related tax — over several years.

The buyer typically makes a down payment and issues a note for the balance. Each principal payment generally includes a tax-free return of basis and taxable gain; interest on the note is taxed separately as ordinary income. This arrangement may also expand the pool of buyers or help you obtain a higher price. But depreciation recapture may be taxable upfront, and you assume the risk that the buyer won’t pay.

Contact us to discuss the pros and cons and determine the optimal deal structure for your situation.