Albright & Associates, Ltd.

10/22/2026

As the year draws to a close, your employer’s 401(k) plan may offer an opportunity to reduce your 2026 income taxes. If you haven’t been contributing, it may not be too late to start. And if you’re already contributing, increasing the amount you contribute from each paycheck before year end could boost your 2026 tax savings. If your employer matches contributions, try to contribute at least enough to receive the maximum match. Otherwise, you’ll lose out on free money! Check with your employer about deadlines and available options. We can help you evaluate the tax implications and determine whether increasing your contributions makes sense for your situation.

10/21/2026

Financial statements help owners and other stakeholders evaluate historical business performance. But trouble can develop between reporting periods. So it’s critical to monitor operational changes for issues that could affect your financial interests. Unexpected turnover, delayed financial reports and unusual transactions may warrant a closer look. So can repeated borrowing, reliance on an owner’s personal credit or sales of equipment needed for operations. Individually, these developments may be explainable. Together, they could point to financial stress. Contact us to help identify potential risks and evaluate a business’s overall financial health.

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10/15/2026

10/14/2026

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.

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10/12/2026

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.

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10/07/2026

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.

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10/06/2026

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.

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10/05/2026

Great Italian Festival, SNAFU Con top this week's events

Fill your calendar with food, music, sports, theater and outdoor fun. Here's the Reno-Tahoe event lineup for Oct. 5-11.

09/29/2026

THANK YOU RENO!

Friday night wasn’t just a celebration of 50 years, it was a celebration of the people who made those 50 years possible.

To our clients, colleagues, friends, family, and community: thank you for celebrating with us and for trusting us through the years.

Your support has shaped our story, and we’re grateful to have shared this milestone with so many familiar faces.

Here’s to 50 incredible years and to everything that’s still ahead.

Cheers to 50 Years & Counting!

09/24/2026

We look forward to seeing everyone tomorrow to celebrate!

Cheers to 50 years! 🎉