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

Is a Roth IRA conversion right for you this year?

If you have a traditional IRA, you might benefit from converting some or all of it to a Roth IRA.

Give and receive with a charitable remainder trust

Would you like to benefit charity while reducing the size of your taxable estate yet maintain an income stream for

2 tax pitfalls of mutual funds

Investing in mutual funds is an easy way to diversify a portfolio, which is one reason why they’re commonly found

Have you misclassified employees as independent contractors?

An employer may enjoy several advantages when it classifies a worker as an independent contractor rather than as an employee.

Why you need to know the value of your assets

With the gift and estate tax exemptions currently at $5.34 million, you might think that estate valuations are less important.

Consider the Sec. 83(b) election to save tax on restricted stock awards

Restricted stock is stock that’s granted subject to a substantial risk of forfeiture. Income recognition is normally deferred until the

If you’ve put your home on the market, you need to know the tax consequences of a sale

Summer is a common time to put a home on the market. If you’re among those who are following this

Who’s subject to the 50% limit on meal and entertainment deductions?

In general, when meal and entertainment expenses are incurred in the context of an employer-employee or customer–independent contractor relationship, one

What to do with your old retirement plan when you change jobs

First and foremost, don’t take a lump-sum distribution from your old employer’s retirement plan. It generally will be taxable and,

Summer day camp may save you taxes

The passing of Memorial Day marks the beginning of summer in the minds of many Americans. Although the kids might

3 tax traps when donating real estate to charity

If you’re considering donating a property to charity, here are three potential tax traps you need to be aware of:

Employers: Have you amended your FSA plan?

Health care Flexible Spending Accounts (FSAs) allow employees to redirect pretax income to an employer-sponsored plan that pays, or reimburses

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