Whalen CPAs: Firm News

What’s New at Whalen CPAs?

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How a financial statement audit strengthens your fraud defenses
Fraud is a major threat facing small and midsize businesses. While audits aren’t designed to uncover fraud, they can help
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T.J. Lowry as Vice President of Audit Service
Whalen CPAs is proud to announce that T.J. Lowry has been promoted to Vice President of Audit Services and named
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Balancing financial reporting needs with compliance costs
Issuing financial statements that comply with U.S. Generally Accepted Accounting Principles (GAAP) requires significant time, expertise and resources. Although lenders
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When the sale of an appreciated home triggers taxes — and when it doesn’t
Home values have risen significantly in many areas of the country over the last several years, leaving some homeowners with
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Accounting for business combinations
Mergers and acquisitions (M&A) provide growth opportunities. But these transactions also introduce accounting complexities. Here’s a closer look at the
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Rethink inventory management
For many businesses, inventory is one of the largest and most expensive assets to maintain. Beyond the cost of purchasing
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The “kiddie tax” can apply long after childhood
Many parents don’t know that the so-called “kiddie tax” exists. Others assume it affects only minor children. But it also
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Managing overhead costs today
Persistent inflation, elevated interest rates and volatile energy costs continue to squeeze profit margins for many small and midsize businesses.
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Protect yourself from fraudsters impersonating the IRS and other tax scams
Tax scammers continue to target taxpayers through email, text messages, phone calls and regular mail. They often try to create
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Financial statements are essential tools for evaluating performance, planning for growth and managing risk. Yet many business owners, board members,
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When outstanding invoices indicate underlying operational issues
Late customer payments don’t just create temporary cash shortages. Over time, inconsistent collections can disrupt budgeting, increase borrowing needs and
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Cost segregation studies can reveal substantial tax savings
Businesses that own commercial real property may be sitting on an overlooked treasure chest of tax savings — and a
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