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.

Expiration date for home mortgage debt forgiveness rapidly approaching

Since 2007, homeowners have been allowed to exclude from their taxable income up to $2 million in cancellation-of-debt (COD) income

IRS issues final regulations on tangible property expenses

The regulations (IRS T.D. 9636) provide guidance on how to comply with Sections 162 and 263 of the Internal Revenue

Velvet Ice Cream President Luconda Dager Shares Her Career Experiences at Women in Business Event

Luconda Dager, president of Velvet Ice Cream, recently joined four other woman business leaders in a panel discussion and individual

Four Clients Among Fastest-Growing Companies in Nation

We strive to provide clients with advice, expertise and support to help them grow so we are particularly pleased to

Will You Owe the 3.8 Percent Medicare Tax on Investment Income?

Beginning in 2013, a new Medicare tax may apply to your dividend and interest income. Under the Affordable Health Care

Changes in Small Business Health Care Tax Credit Go into Effect in 2014

Since 2010 a tax credit has been available for certain small employers providing health insurance coverage for their employees. For

Start planning now if you’d like to deduct medical expenses

Medical expenses that aren’t reimbursable by insurance or paid through a tax-advantaged account (such as a Health Savings Account or

IRS makes more same-sex couples eligible for federal tax treatment as a married couple

In response to the U.S. Supreme Court’s June decision regarding same-sex marriage, the IRS recently clarified that married same-sex couples

Owners of leasehold, restaurant and retail properties must act soon to enjoy extended depreciation-related breaks

In January, Congress extended some depreciation-related tax breaks that can benefit owners of leasehold, restaurant and retail properties: 50% bonus

Employers Must Inform Employees about Health Insurance Marketplaces

The Affordable Care Act (ACA) requires employers across all segments to provide their employees with a written notice of the

State Provides Funds for Workforce Training for Second Consecutive Year

The state has renewed the popular Ohio Incumbent Workforce Training Voucher Program that provides funds to reimburse eligible employers for

State Adopts Shared-Work Program

SharedWork Ohio, a legislative initiative designed to help employers and workers by preventing layoffs, went into effect in mid-July. The

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