Whalen CPAs: Firm News

What’s New at Whalen CPAs?

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The manufacturers’ deduction, also called the “Section 199” or “domestic production activities deduction,” is 9% of the lesser of qualified

For the last several years, taxpayers have been allowed to take an itemized deduction for state and local sales taxes

While the many revived breaks under the American Taxpayer Relief Act of 2012 (ATRA) are good news for taxpayers, they

Section 179 expensing allows businesses a 100% deduction for the cost of qualifying asset purchases. Its 2012 benefits were recently

On Jan. 15, the IRS announced a new simplified home office deduction, which is available beginning with 2013 income tax

The American Taxpayer Relief Act of 2012 (ATRA) revives for 2012 and 2013 the opportunity to make tax-free IRA distributions

The IRS has updated income-tax withholding tables for 2013 in light of the American Taxpayer Relief Act of 2012, signed

On Jan. 2, Congress passed the American Tax Relief Act to address the fiscal cliff. The act makes permanent 2012

To take a 2012 charitable donation deduction, the gift must be made by Dec. 31, 2012. According to the IRS,

If you own highly appreciated assets you’ve held long term, it may make sense to recognize gains now rather than

Business-related purchases of new or used vehicles may be eligible for Section 179 expensing, and business-related purchases of new vehicles

The 2012 gift tax annual exclusion allows you to give up to $13,000 per recipient tax-free without using up any