What CPAs Do in the Tax Off-Season
June 1, 2022 | Barton Walter and Krier
The narrow, early year window for filing taxes is likely when you rely most on your tax professional. But these numbers virtuosos keep busy with a host of duties after filing deadlines, too. Ever wonder what CPAs do in the tax off-season? Keep reading to find out how they keep the gears turning and client financials in order throughout the year. Countless Capabilities Beyond Taxes Certified public accountants do more than crunch numbers on your Form 1040. They are dependable advisors that provide a litany of services to help clients reach their individual or business financial goals. CPA Steve Hagstrom of Barton, Walter & Krier shared insight into some of the lesser-known responsibilities tax professionals handle when they’re not calculating and filing a client tax returns. “We’re a 40-member firm,” Hagstrom pointed out. “We’re smaller, so we wear a lot of hats.” Mergers & Acquisitions. Hagstrom is a consultant in the M&A department at BWK, so providing those services to clients is one of his specialties. “I consult on mostly transactional situations,” he said, “people buying or selling a business.” In these situations, CPAs help clients better understand financial opportunities, compliance, and big picture goals when transferring or consolidating a business. “M&A is a niche we have that other small firms don’t,” Hagstrom […]
Read MoreBe Vigilant at Tax Time
February 15, 2022 | Barton Walter and Krier
Each year the Internal Revenue Service puts together a list of scams to watch for when it comes to your hard-earned dollars. The annual IRS Dirty Dozen warns of tricks and schemes that occur throughout the year – and especially during tax-filing season. The federal tax deadline will be here before we know it, so the professionals at Barton, Walter & Krier wanted to highlight some common scams to help keep you vigilant at tax time. Phony Phone Calls Beware of phone calls claiming to be from the IRS and asking for personal information about you or your finances. As a rule, the IRS does not initially reach out to anyone by phone to discuss tax situations. A first-contact attempt most often comes via mail. The IRS does not request personal or financial details via text or email. And you can rest assured that if the IRS does contact you by phone, you will not be asked to submit payment in the form of a gift card, prepaid debit card, or a wire bank transfer. Do not give out your personal information. If you suspect the call is a hoax, hang up and report it to the Treasury Inspector General for Tax Administration. Watch Your Donation Dollars To claim a deduction for charitable […]
Read MoreAdding Value to Your Business Deals
January 31, 2022 | Barton Walter and Krier
In the business world, buying and selling can be tricky transactions. But they don’t have to be. And adding value to your business deals is easier than you think. Transaction Advisory Services (TAS) from Barton, Walter & Krier provide the expertise you need to understand the intricacies of the process and maximize the value of your purchase or sale. Learn more about TAS and when and how to utilize these impressive financial tools. Straight from the Source The best way to understand Transaction Advisory Services is to talk to someone who regularly handles such projects – someone with the experience to discern and explain the practice and importance of TAS. Blaine Andersen is that person. As BWK’s Managing Director of Transaction Advisory Services, he worked in Big 4 accounting for almost two decades and spent much of that time in M&A (mergers and acquisitions) transactions with PricewaterhouseCoopers. Andersen provides a wealth of knowledge for BWK and its clients, and his sell-side background is so solid that he’ll take on anyone in the business. “I’m known as a due diligence and sell-side specialist,” he said, “and my experience can compete with any others.” TAS Basics Transaction Advisory Services from BWK offer support for clients throughout the process of a deal and include: A quality […]
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