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.

Tips for a faster month-end close

Does your company struggle to close its books at the end of each month? The month-end close requires accounting personnel

Shareholder advances: Debt or equity?

From time to time, owners of closely held businesses might need to advance their companies money to bridge a temporary

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

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

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

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 —

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,

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

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

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

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.

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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