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

Are you timing business income and expenses to your tax advantage?

Typically, it’s better to defer tax. One way is through controlling when your business recognizes income and incurs deductible expenses.

Changing jobs? Make sure you know the best options for your retirement plan.

There’s a lot to think about when you change jobs, and it’s easy for a 401(k) or other employer-sponsored retirement

CLIENT ALERT: Vanishing Discounts for Family Business

The proposed regulations define a new and expanded class of "disregarded restrictions." If finalized in their current form (and upheld

Two tax benefits from one donation?

It's possible - give appreciated stock instead of cash. If you’re charitably inclined, making donations is probably one of your

Prepaid tuition vs. college savings: Which is better?

Section 529 plans provide a tax-advantaged way to help pay for college expenses. Here are just a few of the

Documentation: The key to business expense deductions

If you have incomplete or missing records and get audited by the IRS, your business will likely lose out on

CLIENT ALERT: Ohio Pays Remaining Recession-Era Debt

Earlier this week, Ohio paid the remaining $271 million owed on the state's recession-era debt to the federal government. As

Whalen & Company, CPAs Expands Staff

WORTHINGTON, Ohio – Whalen & Company, CPAs recently added the following individuals to its team: Andrea Brocksmith – Client Service

Are frequent flyer miles ever taxable?

If you recently redeemed frequent flyer miles to treat the family to a fun summer vacation or to take your

Now’s the time to start thinking about “bunching…”

...miscellaneous itemized deductions, that is. Many expenses that may qualify as miscellaneous itemized deductions are deductible only to the extent

Combining business and vacation travel: What can you deduct?

If you go on a business trip within the United States and tack on some vacation days, you can deduct

You may have to prove this to deduct business losses

You can only deduct losses from an S corporation, partnership or LLC if you “materially participate” in the business. If

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