Blog

Doing the research – it’s in your nature.
Read our blog to stay in the know.
A close-up, yet blurred image of someone scrolling on their mobile device.

Blog

Doing the research – it’s in your nature. Read our blog to stay in the know.

IRS Adopts Final Digital Asset Tax Reporting Rules with Some Revisions

By wscpa | August 19, 2024
The IRS on June 28 issued final regulations on information reporting for digital asset transactions. The final regulations require “brokers” to report gross proceeds, cost basis, and gain or loss on sales and exchanges of digital assets, including cryptocurrency, stablecoins,…

Navigating Financial Audits: A Comprehensive Guide

By wscpa | August 16, 2024
Navigating a financial audit can be daunting, but with the right preparation and understanding, it can become a manageable and beneficial process. Financial audits help ensure the accuracy of your financial records and compliance with regulations and can reveal areas…

Walter Shuffain Achieves New Ranking as a 2024 IPA Top 200 Firm

By wscpa | August 8, 2024
Walter Shuffain has achieved recognition as an IPA Top 200 Firm by Inside Public Accounting (IPA). This marks the fourth consecutive year that the firm has secured a place on this prestigious list, ascending five positions to reach #178 from…

Top Three Manufacturing Trends for 2024

By wscpa | July 29, 2024
Earlier this year, BDO released our 2024 Manufacturing CFO Outlook Survey, which identified key manufacturing trends for the year ahead. To benchmark how these trends are evolving, we polled over 100 manufacturing professionals during our webinar, “Reshaping Manufacturing Resilience: The…

Mastering Your Business Finances: A Deep Dive into the Profit & Loss Report

By wscpa | July 24, 2024
Written by: Todd Ellis, CPA, MST, CGMA As a business owner, the Profit & Loss (P&L) report is one of your most vital tools. This financial statement gives a window into your business, revealing how your money is generated and…

The Joys of Home Ownership: Balancing Financial Support and Tax Consequences with Real Estate Wealth Transfer Strategies

By wscpa | July 22, 2024
For high-net-worth individuals, the art of wealth transfer extends beyond merely providing financial assistance to future generations; it is about strategically positioning the next generation for personal success. Unfortunately, it also requires navigating a complex landscape of income, gift, and…

The Tax Advantages of Inheriting a Home Over Gifting

By wscpa | July 17, 2024
Written by: David Bryant, CPA A common question, and one where many taxpayers often make mistakes, is whether it is better to receive a home as a gift or as an inheritance. Generally, from a tax perspective, it is more…
financial planning

Empowering Your Business Through Strategic Financial Planning

By wscpa | June 5, 2024
Written By: Todd Ellis, CPA, MST, CGMA Navigating the complexities of business ownership requires a keen understanding of financial planning. A comprehensive financial plan is more than just a set of documents; it’s a roadmap that guides your business through…
Electric Vehicle Tax Credits

Treasury Announces Long-Awaited Final Rules on Electric Vehicle Tax Credits

By wscpa | May 29, 2024
On May 3, 2024, the U.S. Treasury Department unveiled the final IRS regulations for the electric vehicle (EV) tax credit of up to $7,500 for new and previously owned EVs. These new requirements are intended to enhance aspects of the…
Reporting Digital Asset Proceeds

IRS Issues Draft Form for Reporting Digital Asset Proceeds from Broker Transactions

By wscpa | May 24, 2024
Written By: Eric Gashin, CPA, MBA On April 19, 2024, the IRS published draft Form 1099-DA for reporting digital asset proceeds from broker transactions. The draft form is to be furnished by brokers of digital assets beginning in 2025. The…

Have a question about business valuation, tax planning or anything at all?

BDO Alliance USA