Whalen CPAs: Firm News

What’s New at Whalen CPAs?

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year-end approaches
Strategies for investors to cut taxes as year-end approaches
The overall stock market has been down during 2022 but there have been some bright spots. As year-end approaches, consider
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What to do if your CFO or controller leaves
What to do if your CFO or controller leaves
A leadership departure in your accounting department can create turmoil, at least temporarily. However, it also provides an opportunity to
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Accounting policies and procedures are essential for nonprofits, too
Accounting policies and procedures are essential for nonprofits, too
Financial reporting isn’t all about profits. Not-for-profit entities can also benefit from implementing formal accounting processes. From preparing budgets and
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computer-software-costs-how-does-your-business-deduct-them
Computer software costs: How does your business deduct them?
These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer
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year-end inventory
Preparing for year-end inventory counts
How accurate is the amount reported in your company’s perpetual inventory system? To best answer that question, a physical count
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QuickBooks
Reap the benefits of QuickBooks software solutions
Bookkeeping is essential to running a business. QuickBooks® is one of the most popular software programs for this purpose because
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Adoption
Adopting a child? Bring home a tax break too
Two tax benefits are available to offset the expenses of adopting a child. In 2022, adoptive parents may be able
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2023 tax bills - Inflation
How inflation will affect your 2022 and 2023 tax bills
The effects of inflation are all around. You’re probably paying more for gas, food, health care and other expenses than
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New accounting rules for supplier finance programs
New accounting rules for supplier finance programs
Does your company use supplier finance programs to buy goods or services? If so, and if you must adhere to
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Nanny Tax
You may be liable for “nanny tax” for all types of domestic workers
You’ve probably heard of the “nanny tax.” But even if you don’t employ a nanny, it may apply to you.
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Surprise Audit
Boo! Consider a surprise audit to keep your accounting department on its toes
One of the best ways to tackle financial statement fraud is to conduct periodic surprise audits. In fact, surprise audits
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providing-fringe-benefits-to-employees-with-no-tax-strings-attached
Providing fringe benefits to employees with no tax strings attached
Businesses can provide benefits to employees that don’t cost them much or anything at all. However, in some cases, employees
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