Whalen CPAs: Firm News

What’s New at Whalen CPAs?

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No tax on car loan interest under the new law? Not exactly
Under current federal income tax rules, so-called personal interest expense generally can’t be deducted. One big exception is qualified residence
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How do businesses report cloud computing implementation costs?
Today, many organizations rely on cloud-based tools to store and manage data. However, the costs to set up cloud computing
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Act soon: The OBBBA ends clean energy tax breaks
The newly enacted One, Big, Beautiful Bill Act (OBBBA) represents a major move by President Trump and congressional Republicans to
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What the new tax law could mean for you
The One Big Beautiful Bill Act (OBBBA) includes a number of beneficial changes that will help small business taxpayers. Perhaps
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Budgeting basics for entrepreneurs
Starting a business can be rewarding, but the financial learning curve is often steep. The U.S. Bureau of Labor Statistics
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What the new tax law could mean for you
As 2025 began, individual taxpayers faced uncertainty with several key provisions of the tax law that were set to expire
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Milestone moments: How age affects certain tax provisions
They say age is just a number — but in the world of tax law, it’s much more than that.
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Footnotes: The narrative behind the numbers
  Although footnote disclosures appear at the end of reviewed or audited financial statements, they’re far more than a regulatory
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Is college financial aid taxable? A crash course for families
College can be expensive. According to the College Board, the average sticker price for tuition and fees at private colleges
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The One, Big, Beautiful Bill could change the deductibility of R&E expenses
The treatment of research and experimental R&E expenses is a high-stakes topic for U.S. businesses, especially small to midsize companies
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Are You Ending or Beginning? Value Enhancement
I’ve had a lot of opportunities recently to think about endings and beginnings. As a mother of a graduating senior,
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Tax breaks in 2025 and how The One, Big, Beautiful Bill could change them
The U.S. House of Representatives passed The One, Big, Beautiful Bill Act on May 22, 2025, introducing possible significant changes
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