Patrick Ballard with Ballard and Co. DEAN CURTIS FOR LIVING WELL


2018 TAX REFORM BRINGS BIG CHANGES


This month’s Q&A is with Patrick Ballard, CPA, and CEO of Ballard & Company, Ltd., Certified Public Accountants.


JULIANA GOODWIN FOR LIVING WELL B


allard & Company, Ltd., has provided personalized tax and accounting services to clients in Arkansas and Missouri since 1986, and is one of the largest CPA firms in the state of Arkansas. It boasts a tax department, accounting services department, a financial audit and review depart- ment and a QuickBooks department.


The company was nationally recognized in 2015 as the leading CPA firm in


innovation and technology by efile Cabinet, an industry leader of paperless document storage providers. Patrick Ballard shared information about the new tax reform and how it will affect taxpayers.


4 Living Well i March/April 2018


Q. What are the main benefits of the new tax reform? A. This is going to lower the taxes on


the majority of people in the U.S., not all. There are some people who are going to get hurt. There will be some unintended consequences. For example, the Kiddie Tax. In 2018, if a child has $10 of invest- ment income, they would owe $1 in taxes. We think this is going to be overturned, but for now it is the new law.


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