Whalen CPAs: Firm News

What’s New at Whalen CPAs?

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Retirement Secure 2.0
SECURE 2.0 law may make you more secure in retirement
A new law was recently signed that will help Americans save more for retirement, although many of the provisions don’t
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QuickBooks
FAQs about QuickBooks
Almost 40 years after its launch, QuickBooks® remains the leading accounting software program for small and medium-sized businesses. If you
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international convergence
What happened to the international convergence project?
For years, there was talk of converging U.S. Generally Accepted Accounting Principles (GAAP) with the International Financial Reporting Standards (IFRS).
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Save for retirement by getting the most out of your 401(k) plan
Save for retirement by getting the most out of your 401(k) plan
Socking away money in a tax-advantaged retirement plan can help you reduce taxes and help secure a comfortable retirement. If
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Pick the right accounting method for your business
Pick the right accounting method for your business
Timely, accurate financial information is essential to running a successful business. There are a number of accounting methods you can
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Do you qualify for the QBI deduction? And can you do anything by year-end to help qualify?
Do you qualify for the QBI deduction? And can you do anything by year-end to help qualify?
If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes
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IT inspecting software costs
How to report software costs
What do Tesla cars, smart TVs and equipment used for making french fries have in common? The answer is embedded
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IRAs
Answers to your questions about taking withdrawals from IRAs
As you may know, you can’t keep funds in your traditional IRA indefinitely. You have to start taking withdrawals from
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Is it time to update your accounting practices
Is it time to update your accounting practices?
If you ask some business owners why they do things a certain way, they might answer, “Because we’ve always done
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year-end approaches
Strategies for investors to cut taxes as year-end approaches
The overall stock market has been down during 2022 but there have been some bright spots. As year-end approaches, consider
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What to do if your CFO or controller leaves
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
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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