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

Deadline for Unclaimed Funds

Attention Business Owners: State Requirement Alert! Don't miss the deadline for reporting and remitting all unclaimed funds ($50 or more)

What are AUP engagements — and does your business need one?

In certain circumstances, businesses may need to hire CPAs to perform agreed-upon procedures (AUPs) instead of (or in addition to)

Why auditors monitor journal entries

With a median loss of $766,000, financial misstatement schemes are the costliest type of fraud, according to “Occupational Fraud 2024:

Bookkeeping provides a solid foundation for financial reporting

There are currently more than 33 million small businesses in the United States, according to the U.S. Chamber of Commerce.

Planning your estate? Don’t overlook income taxes

The current estate tax exemption amount ($13.61 million in 2024) has led many people to feel they no longer need

Auditing warehouse operations

When you hear the word “audit,” you might automatically associate it with financial reporting or the IRS. But auditing warehouse

How to Design an Embezzlement Resistant Office

Parts 1 and 2 of our embezzlement series discussed who embezzles and why. It also revealed the embezzled owner's core

Don’t Be a Victim: Identifying and Understanding Embezzlement

In the first part of our embezzlement series, we discussed the who, what, and why of embezzlement. This second part

Embezzlement: It’s Probably Already Happened to You

Imagine this: Dr. Thompson had built a thriving dental practice over twenty years ago. He'd weathered staffing changes and insurance

What might be ahead as many tax provisions are scheduled to expire?

Buckle up, America: Major tax changes are on the horizon. The reason has to do with tax law and the

Best practices for expense reporting

When it comes to expense reporting, having rigorous financial controls is critical to operating a profitable business. You should monitor

Social Security tax update: How high can it go?

Employees, self-employed individuals and employers all pay Social Security tax, and the amounts can get bigger every year. And yet,

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