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.
4 ways to prepare for next year’s audit
Every fall, CPAs are busy preparing for audit season, which generally runs from January to April each year. This includes
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A winning combination: QuickBooks + your marketing platform
QuickBooks® is a popular business accounting software program. There are also a number of marketing platforms that businesses can use
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FASB approves updated rules for disclosing income taxes
On August 30, 2023, the Financial Accounting Standards Board (FASB) unanimously voted to finalize its proposed improvements to the disclosure
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FASB finalizes new crypto standard in record time
On September 6, the Financial Accounting Standards Board (FASB) unanimously voted to finalize new accounting rules on cryptocurrency assets —
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The Wealth Gap and How CEPAs Can Help You Close It
Business owners have about 80% of their net worth locked up in the business; therefore, only 20% is liquid (Snider,
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How to Recognize and Avoid IRS Scams
The IRS is a major target for scammers, who use a variety of methods to trick taxpayers into giving up
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Unlocking the Power of Effective Receivables Management: 10 Insights for Financial Success
Managing accounts receivable (AR) is a fundamental aspect of financial health for any business. A robust AR system ensures steady
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Unlocking Business Attractiveness: A Buyer's Perspective
Every business owner hopes to harvest the wealth locked up in the business. Unfortunately, most owners over-value their businesses. This
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Why Exit Planning is Essential for Business Success
Exit planning, although often only associated with the end of a career, is actually both a starting and end point.
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Navigating the Future: 5 Essential De-Risking Strategies for Businesses
The business landscape constantly evolves, and businesses must be prepared for anything. That's why it's essential to have a strong
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percentage-of-completion
Does your business work on projects that take longer than a year to complete? Recognizing revenue from long-term projects usually
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Plan now for year-end gifts with the gift tax annual exclusion
Now that Labor Day has passed, the holidays are just around the corner. Many people may want to make gifts
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To learn more, Contact Whalen CPAs today.