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. Want info delivered right to your inbox – Subscribe Now

Keeping careful business records for meal and vehicle expenses can safeguard your tax deductions. Here are some DOs and DON’Ts.

Keep these DOs and DON’Ts in mind when deducting business meal and vehicle expenses

If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases,

Overview of discontinued operations reporting

Traditional business models in many sectors have been disrupted by the COVID-19 pandemic, geopolitical uncertainty, rising costs, and falling consumer

4 tax challenges you may encounter if you retire soon

Are you getting ready to retire? If so, you’ll soon experience changes in your lifestyle and income sources that may

Achieving the right balance of working capital

Working capital — the funds your company has tied up in accounts receivable, accounts payable, and inventory — is a

Cybersecurity: as much about technology as it is about training and awareness

Cybersecurity is essential in the workplace because it helps to protect the company's data, networks, and systems from unauthorized access,

How to use QuickBooks as a fraud detection tool

Many businesses and nonprofits use QuickBooks® as a cost-effective solution to manage their accounting processes. However, the software’s capabilities extend

Tax news for investors and users of cryptocurrency

If you’re a crypto investor or user, you may have noticed something new on your tax return this year. And

Beware of the gray areas in accounting

Accounting and auditing standards have come under scrutiny in the wake of recent high-profile bank failures. Investigations are currently underway

Tailored Consulting Service Announcement

We are excited to announce that Whalen CPAs is expanding its services and is now offering Dental & Healthcare Practice

There’s a favorable “stepped-up basis” if you inherit property

A common question for people planning their estates or inheriting property is: For tax purposes, what’s the “cost” (or “basis”)

What records can you throw away after filing?

Paperwork you can toss after filing your tax return

Once you file your 2022 tax return, you may wonder what personal tax papers you can throw away and how

New-and-improved accounting rules for common control leases

On March 27, 2023, the Financial Accounting Standards Board (FASB) published narrowly drawn amendments to the lease accounting rules. The

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