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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Best practices for expense reporting
When it comes to expense reporting, having rigorous financial controls is critical to operating a profitable business. You should monitor
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Social Security tax update: How high can it go?
Employees, self-employed individuals and employers all pay Social Security tax, and the amounts can get bigger every year. And yet,
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Why audited financial statements matter
Reliable financial reporting is key to any company’s success. Here’s why your business should at least consider investing in audited
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Surprise audits are proven to fight fraud
Four antifraud controls are associated with at least a 50% reduction in both fraud loss and duration, according to “Occupational
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4 bookkeeping pitfalls for small businesses to avoid
Accurate bookkeeping is essential to operating a successful small business. The problems created by inadequate bookkeeping practices can have significant,
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New survey reveals top audit committee concerns
Audit committees act as gatekeepers over the accounting and financial reporting processes, including the effectiveness of the company’s control environment.
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It’s almost time for a midyear checkup on your company’s financial health
Interim financial reporting is essential to running a successful business. When reviewing midyear financial reports, however, you should recognize their
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4 cost-cutting areas to help your business boost profits
Many businesses focus on selling more products and services to boost profitability. But sales volume alone doesn’t necessarily raise profits.
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How to communicate accounting information to laypeople
Accurate, timely financial information is key to making good decisions for executives, board members, investors, and other stakeholders. But not
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Turning a hobby into a business? Pay attention to the tax rules
Many people dream of turning a hobby into a regular business. Perhaps you enjoy boating and would like to open
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Taxes when you sell an appreciated vacation home
Vacation homes in upscale areas may be worth way more than owners paid for them. That’s great, but what about
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