Author Archives: Whittaker

How can Whittaker help during an audit?

This company came to us in the middle of an IRS audit. “Everything was a disaster,” they recalled later, “and we didn’t even realize it.” Whittaker worked together with the company’s highly qualified team to put the pieces together, stabilize the accounting records, provide guidance, and work with the team on how to move forward.

To Understand Cost Segregation Studies, Start at the Beginning

Cost segregation—“cost seg” to a tax accountant—can be a potent strategy for owners of commercial real estate to take advantage of the faster depreciation schedules applicable to qualified components of their properties. The basic contours of today’s approach to cost segregation were established in 1997 by the United States Tax Court in its decision in

Get Ahead of the Pack by Improving Your Business Systems

  All businesses have systems – both formal and informal. They make the wheels of your business turn. However, informal systems can keep your business wheels from turning smoothly when it comes to day-to-day operations such as closing sales and ultimately from easily selling or passing down your business to the next generation (succession planning).

Is Your Accounting System Giving You the Answers You Need?

In today’s Information Age, we expect granular numbers right away, However, often times many business’ accounting systems have limitations and can‘t deliver the kind of information that owners need, or the functionality has not been built in for the information to be tracked. In this post, we’ll show you why you need to make the

Four Common Financial Mistakes Small Businesses Make (and How to Avoid Them)

Many small business owners are entrepreneurs who are passionate creators that had an idea for a product or service, but they don’t always possess financial acumen. As a result, some business owners make financial mistakes which can jeopardize their dreams. Here are four of the most common mistakes and how business owners can avoid them.

How to Free Up Cash by Reducing Receivables

The most effective way to manage receivables in your business is to put into place a system that allows management the ability to: Provide credit to eligible customers only Keep track of receivables in a timely manner Trigger follow-up calls/emails/letters for reminders/past due/legal action and Trigger when management intervention or legal recourse becomes the next