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

Accelerating deductions to save taxes

Smart timing of deductible expenses can reduce your tax liability, and poor timing can unnecessarily increase it. When you don’t

How higher-bracket taxpayers can take advantage of the 0% long-term capital gains rate

The long-term capital gains rate is 0% for gains that would be taxed at 10% or 15% based on the

Employee Fringe Benefits – Commuting Rule

Each year, employers must determine the value of fringe benefits that they provide to their employees. One common fringe benefit

Timing business income and expenses to your tax advantage

Typically, it’s better to defer tax. Here are two timing strategies that can help businesses do this: Defer income to

AMT triggers could boost your tax bill if you’re not careful

A fundamental tax planning strategy is to accelerate deductible expenses into the current year. This typically will defer — and

Self-employed? Save more by setting up your own retirement plan

If you’re self-employed, you may be able to set up a retirement plan that allows you to make much larger

Donating appreciated stock can offer substantial tax benefits

Are you planning to make charitable donations before year end? Do you own appreciated stock that you’d like to sell,

Maximizing depreciation deductions in an uncertain tax environment

For assets with a useful life of more than one year, businesses generally must depreciate the cost over a period

Watch out for the wash sale rule

If you’ve cashed in some big gains this year, consider looking for unrealized losses in your portfolio and selling those

Careful tax planning critical for RSUs — and other stock-based compensation

If you’re an executive or other key employee, you might be compensated with more than just salary, fringe benefits and

How to protect yourself from underpayment penalties

You can be subject to penalties if you don’t pay enough tax during the year through estimated tax payments and

Is your business ready for play-or-pay?

If you’re a “large” employer, time is running out to prepare for the Affordable Care Act’s (ACA’s) shared responsibility provision,

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