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
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
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
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
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
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
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
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
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’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
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
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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analyzing financial ratios
What do you do with your financial statements when your auditor delivers them? Resist the temptation to just file them
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