Whalen CPAs: Blog
Discover Our Thoughts on Important Accounting Topics.
We understand that constantly changing tax laws can get confusing. That is why we keep our blog updated on tax policies that could affect the life and business of our clients. If you have any questions regarding an article featured on our blog, please contact the experts at Whalen CPAs for more information. Want info delivered right to your inbox – Subscribe Now
The Inflation Reduction Act (IRA), enacted in 2022, created several tax credits aimed at promoting clean energy. You may want
Read more
A chart of accounts is the foundation of accurate financial reporting, so it needs to be set up correctly. A
Read more
The pretax (accounting) profit that’s reported on your company’s income statement is an important metric. Lenders, investors, and other stakeholders
Read more
It’s critical for business owners and managers to understand how to present contingent liabilities accurately in the financial statements. Under
Read more
Running a closely held business is challenging. Owners usually prioritize core business operations — such as managing employees, serving customers
Read more
Here is a comprehensive overview of the key considerations for Estate Planning and Social Security based on our workshop. Estate
Read more
As the end of the year approaches, many people start to think about their finances and tax strategies. One effective
Read more
When reviewing their income statements, business owners tend to focus on profits (or losses). However, focusing solely on the bottom
Read more
With the arrival of fall, it’s an ideal time to begin implementing tax strategies that could reduce your tax burden
Read more
Timing is critical in financial reporting. Under accrual-basis accounting, the end of the accounting period serves as a “cutoff” for
Read more
For many years, the ODA has reported on their vigilant attempts to silence the "silent PPO." Also known as ghost
Read more
Working from home has become increasingly common. The U.S. Bureau of Labor Statistics (BLS) reports that about one out of
Read more
To learn more, Contact Whalen CPAs today.