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

Are you eligible for the American Opportunity credit?

If you have a child in college, you may be eligible to claim the American Opportunity credit on your 2016

Is it too late for 2016 IRA contributions?

There’s still time to make 2016 contributions to your IRA. The deadline for such contributions is April 18, 2017. If

Does an elderly parent qualify as your dependent?

It’s not uncommon for adult children to help support their aging parents. If you’re in this position, you might qualify

Tangible property safe harbors help maximize deductions

If last year your business made repairs to tangible property, such as buildings, machinery, equipment or vehicles, you may be

Deduct all of the mileage you’re entitled to — but not more

Rather than keeping track of the actual cost of operating a vehicle, employees and self-employed taxpayers can use a standard

Do you need to file a 2016 gift tax return by April 18?

Last year you may have made significant gifts to your children, grandchildren or other heirs as part of your estate

Whalen & Company, CPAs Promotes Staff

Whalen & Company, CPAs recently promoted two key individuals within their firm. Linda Nay has been named as Partner, Administrative

The “manufacturers’ deduction” isn’t just for manufacturers

The Section 199 deduction is intended to encourage domestic manufacturing. In fact, it’s often referred to as the “manufacturers’ deduction.”

The investment interest expense deduction: is it beneficial?

Investment interest — interest on debt used to buy assets held for investment, such as margin debt used to buy

New I-9 Form Requirement

The U.S. Citizenship and Immigration Services (USCIS) has published a revised version of Form I-9, Employment Eligibility Verification.

Offers of Health Coverage – Employer Shared Responsibility Payment & Filing Requirements

An employer that sponsors an insured health plan (a health plan that provides coverage by purchasing insurance from a health

State and local sales tax deductions – who benefits?

The break allowing taxpayers to take an itemized deduction for state and local sales taxes in lieu of state and

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