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

It’s critical to be aware of the tax rules surrounding these plans

Nonqualified deferred compensation (NQDC) plans pay executives at some time in the future for services to be currently performed

Beware…of income-based tax limits

Many tax breaks are reduced or eliminated for higher-income taxpayers. Two of particular note are the itemized deduction reduction and

Social Security Wage Updates for 2017

Earlier this week, the Social Security Administration (SSA) announced wage changes that will take effect in 2017. The announcement stated that

Self-employed? Here’s what you need to know about employment taxes.

In addition to income tax, you must pay Social Security and Medicare taxes on earned income, such as salary and

Are you timing business income and expenses to your tax advantage?

Typically, it’s better to defer tax. One way is through controlling when your business recognizes income and incurs deductible expenses.

Changing jobs? Make sure you know the best options for your retirement plan.

There’s a lot to think about when you change jobs, and it’s easy for a 401(k) or other employer-sponsored retirement

CLIENT ALERT: Vanishing Discounts for Family Business

The proposed regulations define a new and expanded class of "disregarded restrictions." If finalized in their current form (and upheld

Two tax benefits from one donation?

It's possible - give appreciated stock instead of cash. If you’re charitably inclined, making donations is probably one of your

Prepaid tuition vs. college savings: Which is better?

Section 529 plans provide a tax-advantaged way to help pay for college expenses. Here are just a few of the

Documentation: The key to business expense deductions

If you have incomplete or missing records and get audited by the IRS, your business will likely lose out on

CLIENT ALERT: Ohio Pays Remaining Recession-Era Debt

Earlier this week, Ohio paid the remaining $271 million owed on the state's recession-era debt to the federal government. As

Whalen & Company, CPAs Expands Staff

WORTHINGTON, Ohio – Whalen & Company, CPAs recently added the following individuals to its team: Andrea Brocksmith – Client Service

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