Whalen CPAs

06/15/2026

For many businesses, inventory is one of the largest and most expensive assets to maintain. Carrying too much can create problems. Stocking too little can create different ones.

Two supply chain approaches can help you strike the right balance. Just-in-time management reduces costs by minimizing inventory on hand and improving operational flexibility.

Conversely, the accurate response approach uses forecasting to align inventory with customer demand. What’s the right approach for your business?

Carrying too much inventory can create problems. Stocking too little can create different ones. Learn about two approaches that may help.

06/09/2026

Many parents don’t know that the “kiddie tax” exists. Others assume it affects only minor children. But it also can apply to full-time students through age 23 and 18-year-olds even if they aren’t full-time students. When it applies, the child’s unearned income in excess of $2,700 (for 2026) is taxed at the parent’s tax rate, if higher.

If your child has investment income from custodial accounts, consider reviewing the types of investments in those accounts. Growth-oriented investments that generate little current income may help reduce exposure to the kiddie tax until your child is old enough that the tax no longer applies.

The “kiddie tax” can increase a family’s overall tax liability if investment income is generated in a child’s name.

06/01/2026

Don’t underestimate how overhead costs can affect your business’s profitability. Indirect expenses — such as rent, utilities, insurance and administrative costs — often grow quietly over time.

Allocating overhead costs across products, services, projects or clients can provide greater insight into profitability.

A disciplined allocation approach can help you identify underperforming products or services, evaluate expansion opportunities, and make better-informed pricing decisions.

Reviewing your allocation methods periodically is especially important as labor, technology and operating costs change.

Don’t underestimate how overhead costs can affect your business’s profitability. These expenses often grow quietly over time.

05/29/2026

Scammers continue to target taxpayers through email, text messages, phone calls and regular mail. They often try to create urgency or fear to trick victims into sharing sensitive information or sending money.

Remember, the IRS will never contact you by email or text about a tax bill or refund. It also won’t demand immediate payment over the phone. Most IRS communications are sent through regular mail — though fraudsters may send fake IRS notices by mail, often including QR codes.

Don’t click on links, open attachments or scan QR codes from unknown senders that might direct you to fraudulent websites designed to steal personal or financial information.

Tax scams continue to evolve. Here are some common ones to watch for and how to avoid becoming a victim. Look out for fraudsters.

05/28/2026

When it comes to financial reporting, accuracy matters. But so does clarity. Many stakeholders — including board members, donors, employees and investors — don’t have accounting backgrounds and may struggle to interpret complex financial data.

Using plain language, engaging visuals and key benchmarks can turn complicated financial data into something more useful and actionable.

We can help you develop financial reports and presentations that improve stakeholder understanding of your organization’s performance and enable better-informed decisions.

When it comes to financial reporting, accuracy matters. But so does clarity. If your financial reports often leave stakeholders confused...

05/19/2026

Every outstanding invoice tells a story — and recurring payment delays often point to operational problems that you can proactively address.

05/07/2026

Big congratulations to Nick has passed all 4 parts of the CPA exam!

Becoming a CPA takes a tremendous amount of dedication, discipline, and hard work, and we’re proud to celebrate this milestone with him. We’re excited to see the continued impact he’ll make for our clients and our team.

Congratulations, Nick — well deserved.

05/05/2026

Does your business own commercial real property? A closer look at your building costs could change how quickly you can deduct those expenses. A cost segregation study can uncover tax savings hidden in plain sight.

A closer look at your building costs could change how quickly you can deduct those expenses. A cost segregation study can uncover tax savings.

04/29/2026

Large stock market gains in recent years, coupled with volatility in 2026, may have left you with a portfolio that’s out of balance with your desired asset allocation. If you haven’t rebalanced recently, it may be time. Careful planning can minimize the tax cost.

Say your portfolio is overweighted in large-cap U.S. stocks. You can save 2026 taxes if you sell some of this appreciated stock from a retirement account because the gain won’t be taxed. If you need to sell the stock from a taxable account, see whether there are assets in the account you can sell at a loss. The recognized loss can offset some or all of your capital gains.

Rebalancing your investment portfolio periodically is necessary. Here are some tax mitigation strategies for tax-smart rebalancing.

04/27/2026

Most dental practices track production closely.

But production alone doesn’t tell you how the business is actually performing.

Profitable practices tend to look at a few additional areas:
• How much of that production is being collected
• Whether overhead is staying in a healthy range
• If provider time is being used efficiently
• How cash flow aligns with growth plans

None of these are complicated on their own. But without looking at them together, it’s easy to miss what’s really driving performance.

The goal isn’t just to produce more.

It’s to understand what’s working—and what isn’t—so you can make better decisions with confidence.