Wheeler Wolfenden and Dwares, CPAs is proud to announce the promotion of Kathy Corcoran, CPA from Principal to Director of the firm. Kathy’s tax expertise and enthusiasm for working with clients has led her to advance through the ranks at the firm. Kathy joined the firm in 2001, after graduating from the University of Delaware with a bachelor […]
Speeding up the payment process: Supply chain financing for construction projects
Construction is historically an invoice-based industry. You get paid when work is completed, and only after the invoice is submitted along with other documentation and approved by multiple project stakeholders. This payment process can take weeks or months, creating serious cash flow and working capital challenges for contractors who are waiting to get paid for work […]
How to attract donor-advised fund gifts
Donor-advised funds (DAFs) have been around since the 1930s, but they’ve exploded in popularity in the past decade. Between 2007 and 2016, DAF assets grew from $32 billion to $85 billion, according to the National Philanthropic Trust. Assets are expected to continue to grow exponentially thanks, at least in part, to the Tax Cuts and […]
Why it’s a good idea to review your business plan
Most construction companies start out with a business plan: a road map that outlines goals and details how to achieve them. But once a business is up and running, this document tends to get buried in a file cabinet or on a hard drive. Construction company owners, however, would benefit from digging out their business […]
WW&D Passes Seventh Consecutive Peer Review
Wheeler Wolfenden and Dwares, CPAs (WW&D) is pleased to announce that, for the seventh consecutive time, it has successfully completed a rigorous peer review of its accounting and audit practice. WW&D received the best possible rating – pass with no letter of comment – as the firm has earned for all of its peer reviews. […]
Nonprofit accounting is different
Carolyn, the executive director of an educational nonprofit, was thrilled, after a long search, to welcome two new members to her charity’s board of directors — both from the for-profit business world. However, she was a little concerned about a few of the comments and questions that arose in their first board meeting. It was […]
Deconstructing the TCJA’s deduction for business income
We’re fast approaching the one-year anniversary of the passage of the Tax Cuts and Jobs Act (TCJA). All these months later, the law continues to challenge tax experts and business owners alike as they try to implement strategies to maximize the tax savings from the act. One example is the new tax deduction for qualified […]
After the TCJA: How to keep the giving going this holiday season
Thanksgiving through the end of the year is traditionally the big fundraising season for nonprofits. In one GuideStar survey, U.S. charities received as much as 50% of their annual donations between October and December. And although the holiday spirit moves many donors to give, it’s the charitable tax deduction that typically spurs them to make […]
WW&D Welcomes Three New Professional Staff
Wheeler Wolfenden and Dwares, CPAs is pleased to welcome Melissa Navarro, CPA, Erica Poore, and Jessica Heger to its audit and tax practices. Melissa Navarro, CPA has joined the firm as a manager. Navarro has 14 years of experience in public accounting. In addition, she held an executive-level finance role for eight years with a […]
Tips on managing and reducing payroll costs
Every construction company must pay its employees, so some payroll costs are unavoidable. But precisely how you should go about paying your employees can change over time. What made sense a few years ago may not be as logical or efficient now. Let’s look at some ways contractors can streamline payroll tasks to keep costs […]