Introduction With the current norm of remote work and the increasing number of people operating businesses from their homes, the home office has become more important than ever. Beyond the convenience and comfort it offers, your home office can also be a source of potential tax savings. With the information found in this blog you
Author Archives: Whittaker
13
Sep
Sep
Introduction Here at Whittaker our clients almost never get audited. Although, a question we get from non-clients all the time is, “how do I reduce my risk of being audited?” Well, ProActive Tax Planning is one of the best ways to do that. Tax season is a stressful time for many individuals and business owners.
06
Sep
Sep
Introduction Traveling for business purposes is an essential part of many start-ups and established businesses. Whether you’re attending conferences, meeting clients, or exploring new markets, these business trips often come with significant expenses. The good news is that many of these costs can be tax-deductible. You can help your company save money while expanding its
Advisory|Financial Reporting|Strategic Guidance
Why is it Important to Understand Financial Statements?
30
Aug
Aug
Not being able to understand your financial statements is something most business owners struggle with. Many people think they are just numbers on a page, but in reality they tell a story about your business As a business owner, you have a multitude of responsibilities that shape the success of your business. From product development
23
Aug
Aug
In the dynamic landscape of business management, keeping track of your progress and performance is essential for achieving your goals. This is where Key Performance Indicators (KPIs) come into play. KPIs are integral tools that help businesses measure their success and effectiveness in achieving specific objectives. KPI’s are great because they can be used to
16
Aug
Aug
Who Can Be an Owner? An S-Corporation (S-Corp) is a type of business entity in the United States that offers certain tax benefits, like a partnership or LLC, while maintaining some of the limited liability features of a traditional corporation (C-Corp). However, S-Corps have specific ownership requirements to maintain their favorable tax treatment. Individuals: Generally,
09
Aug
Aug
Background What I want to offer in this article is a conversation about how to think about reducing your taxes and creating family wealth with that savings. The fact of the matter is that nobody enjoys paying taxes and we would all appreciate a zero-tax bill. I have over thirty years of experience as
Advisory|Strategic Guidance|Value Building, Financial Reporting|Strategic Guidance
What is the Difference Between an Audit, Review, and Compilation
02
Aug
Aug
Audit, review, and compilation are three different levels of services provided by accountants or auditors when examining financial information. Each level offers a varying degree of assurance regarding the accuracy and reliability of financial statements. Let’s explore the differences between an audit, review, and compilation. Compilation A compilation is the simplest and least extensive of
26
Jul
Jul
When it comes to choosing an accounting firm for your business, making the right decision is crucial. Entrusting your financial matters to professionals who understand your unique needs and can help you achieve your goals is essential. In this blog post, we will explore the top questions that should be asked when selecting a new
19
Jul
Jul
As a business owner, it’s essential to stay informed about the various tax provisions that can impact your company’s growth and financial success. Section 1202 of the Internal Revenue Code, commonly known as the “qualified small business stock” is one of them. What is Section 1202 Stock? Section 1202 was introduced as part of the