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.

Electronic Filing/Payment Rule Amended for Ohio's CAT Tax

State law was amended in the most recent budget bill to allow Ohio’s Department of Taxation to require annual commercial

Business Standard Mileage Rates Drop Slightly in 2014

The IRS has issued the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile

Why the self-employed should consider setting up a retirement plan before year end

For 2013, the maximum IRA contribution is $5,500 — $6,500 if you’re age 50 or older on Dec. 31. (The

Avoid the year-end vacation-time scramble

Every December are your employees scrambling to use up their vacation time because of limits on what they can roll

Will your donations be more powerful this year?

Maybe. Deductions are more valuable when tax rates are higher, and higher-income taxpayers face higher rates in 2013. But the

Businesses Owed Millions in Tax Refunds

The Ohio Department of Taxation owes millions of dollars in tax refunds to businesses that inadvertently overpaid their taxes. Now

Two Clients Honored by Conway Center for Family Business

Many of our firm’s clients are family-owned businesses so we were delighted to learn that two clients were recently honored

Year-end tax planning for your investments

While tax consequences should never drive investment decisions, it’s critical that they be considered — especially this year: Higher-income taxpayers

Employers to Pay More FUTA on 2013 Returns

Because Ohio has failed to repay outstanding federal loans related to the state’s unemployment insurance for the past four years,

Smart timing of business income and expenses can save tax — or at least defer it

By projecting your business’s income and expenses for 2013 and 2014, you can determine how to time them to save

Beware of the AMT when doing year-end tax planning

As year end approaches, you may be trying to accelerate deductible expenses into 2013 to reduce, or at least defer,

Getting It All Together for Retirement

Before retirement begins, gather what you need. Put as much documentation as you can in one place, for you and

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