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.

Portability doesn’t preclude the need for marital transfers and trusts

Exemption portability, made permanent by the American Taxpayer Relief Act of 2012, provides significant estate planning flexibility to married couples

Phil Heit Receives Jefferson Award for Community Service

Dr. Phil Heit, founder of Healthy New Albany, was named one of five winners of the prestigious 2013 Jefferson Awards,

Two Clients Recognized for Promoting Health of Their Employees

Two clients were recognized in Columbus Business First's inaugural Healthiest Employers of Central Ohio Awards Program. Award recipients offer health

TOR-VETM Empowers Disabled Combat Veterans through Motorsports

Client Pete Cline, founder of Team Ohio Racing / Veterans Empowered Through Motorsports (TOR-VETM), is partnering with two Whalen clients,

April 15 has passed — now what?

With the 2012 tax filing season behind us, it’s time to start thinking seriously about 2013 tax planning — especially

The perils of filing for an extension

Now that the 2012 tax return deadline is nearly upon us, if you haven’t filed your return yet, you may

IRS provides penalty relief to certain late filers

On March 20, the IRS issued guidance providing penalty relief to both individual and business taxpayers who file for an

The revived research credit can still reduce your 2012 tax bill

For many years, the research credit (also commonly referred to as the “research and development” or “research and experimentation” credit)

Lower FSA contribution limit may make HSAs more attractive

Previously, employers could set whatever limit they wanted on employee contributions to Flexible Spending Accounts (FSAs) for health care. But

Do you need to file a 2012 gift tax return by April 15?

Generally, you’ll need to file a gift tax return for 2012 if, during the tax year, you made gifts: That

Yes, there’s still time to make a 2012 IRA contribution!

The deadline for 2012 IRA contributions is April 15, 2013. The limit for total contributions to all IRAs generally is

You don’t have to be a manufacturer to take the “manufacturers’ deduction”

The manufacturers’ deduction, also called the “Section 199” or “domestic production activities deduction,” is 9% of the lesser of qualified

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