Whalen CPAs: Firm News

What’s New at Whalen CPAs?

Exciting things are always happening at Whalen CPAs! Stay abreast of firm news and Contact Us if you have any questions.

If you’re considering donating a property to charity, here are three potential tax traps you need to be aware of:

Health care Flexible Spending Accounts (FSAs) allow employees to redirect pretax income to an employer-sponsored plan that pays, or reimburses

Are you thinking about turning a business trip into a family vacation this summer? This can be a great way

This year, trusts are subject to the 39.6% ordinary-income rate and the 20% capital gains rate to the extent their

The short answer is: none. You need to hold on to all of your 2013 tax records for now. But

If during 2013 income tax return filing you found that your business had a net operating loss (NOL) for the

In late 2013, the Internal Revenue Service (IRS) released final regulations that will greatly impact a taxpayer’s ability to capitalize

Tax-advantaged retirement plans allow your money to grow tax-deferred — or, in the case of Roth accounts, tax-free. But annual

If you purchased qualifying assets by Dec. 31, 2013, you may be able to take advantage of these depreciation-related breaks

Tax credits can be especially valuable because they reduce taxes dollar-for-dollar; deductions reduce only the amount of income that’s taxed.

One of the most common mistakes investors make is forgetting to increase their basis in mutual funds to reflect reinvested

For the last several years, taxpayers have been allowed to take an itemized deduction for state and local sales taxes