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

Prevent Year-End Vacation Scramble with PTO Contributions

if you limit how many vacation days employees can roll over to the new year, you might find your workplace

Save tax (or at least defer it) by carefully timing business income and expenses

The first step to smart timing is to project your business’s income and expenses for 2015 and 2016. With this

CLIENT ALERT: Proposed Tax Extender Bill Includes Section 179 Deduction, Bonus Depreciation

Earlier this week, U.S. House Ways and Means Committee Chairman, Congressman Kevin Brady, proposed legislation to renew numerous tax provisions

Year-End Strategies to Reduce Taxes on Your Investments

Many of the strategies that can help you save or defer income tax on your investments can also help you

Client Alert: IRS Raises Tangible Property Safe Harbor Threshold to $2,500

The IRS recently announced that it will raise the de minimis safe harbor threshold for tangible property to $2,500 per

2015 Year-End Tax Planning Tips

For most of the last decade, year-end tax planning has been complicated by a great deal of uncertainty. This year

Client Alert: Another FUTA Surcharge for Ohio Employers

For the fifth year in a row, Ohio employers will be subject to additional federal unemployment tax act (FUTA) surcharges

Is Your Executive Compensation Subject to Additional Tax?

The additional Medicare tax and net investment income tax (NIIT) apply when certain income exceeds the applicable threshold...

Should you “bunch” medical expenses into 2015?

Medical expenses that aren’t reimbursable by insurance or paid through a tax-advantaged account (such as a Health Savings Account or

Business Vehicles: Sell or Trade In?

Although a vehicle’s value typically drops fairly rapidly, the tax rules limit the amount of annual depreciation that can be

Should you contribute more to your 401(k) in 2015?

Contributing to a traditional employer-sponsored defined contribution plan, such as a 401(k), 403(b) or 457 plan, offers many benefits: Contributions

Chip-Enabled Credit Cards: Is Your Business Prepared?

To combat the growing issue of credit card fraud, U.S. financial institutions are issuing EMV-chip-enabled credit cards that make it

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