Whalen CPAs: Firm News

What’s New at Whalen CPAs?

Exciting things are always happening at Whalen CPAs! Stay abreast of firm news and Contact Us if you have any questions.

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What to do if your CFO or controller leaves
A leadership departure in your accounting department can create turmoil, at least temporarily. However, it also provides an opportunity to
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Accounting policies and procedures are essential for nonprofits, too
Financial reporting isn’t all about profits. Not-for-profit entities can also benefit from implementing formal accounting processes. From preparing budgets and
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computer-software-costs-how-does-your-business-deduct-them
These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer
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year-end inventory
How accurate is the amount reported in your company’s perpetual inventory system? To best answer that question, a physical count
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QuickBooks
Bookkeeping is essential to running a business. QuickBooks® is one of the most popular software programs for this purpose because
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Adoption
Two tax benefits are available to offset the expenses of adopting a child. In 2022, adoptive parents may be able
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2023 tax bills - Inflation
The effects of inflation are all around. You’re probably paying more for gas, food, health care and other expenses than
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New accounting rules for supplier finance programs
Does your company use supplier finance programs to buy goods or services? If so, and if you must adhere to
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Nanny Tax
You’ve probably heard of the “nanny tax.” But even if you don’t employ a nanny, it may apply to you.
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Surprise Audit
One of the best ways to tackle financial statement fraud is to conduct periodic surprise audits. In fact, surprise audits
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providing-fringe-benefits-to-employees-with-no-tax-strings-attached
Businesses can provide benefits to employees that don’t cost them much or anything at all. However, in some cases, employees
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analyzing financial ratios
What do you do with your financial statements when your auditor delivers them? Resist the temptation to just file them
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