wscpa, Author at Walter Shuffain

Working with a Virtual Accounting Team: Insights, Expectations, and Debunking Myths

Written by: Todd Ellis, CPA, MST, CGMA Virtual accounting has become a key solution for businesses seeking effective and efficient financial operations. But as its popularity grows, so do misconceptions. If you are considering working with a virtual accounting team for…

Massachusetts Governor Signs $1 Billion Tax Relief Bill

Written by: Jonathan C. Hitter, CPA, MST, CGMA On October 4, 2023, Massachusetts Governor Maura Healey signed into law a historic tax relief package to provide substantial financial relief to the state’s residents. The $1 billion Massachusetts Tax Relief Bill,…

Top Six Private Equity Trends Impacting Tech Companies

The second half of 2022 and the beginning of 2023 presented a thorny challenge for the tech industry as adverse market conditions slowed growth to a crawl, forcing tech companies to revisit their business models. At the same time, deal…

New Accounting for Joint Venture Formations

Summary Joint ventures, as defined in U.S. GAAP and formed after January 1, 2025, must apply a new basis of accounting, as issued by the FASB in Accounting Standards Update (ASU) 2023-05, Business Combinations — Joint Venture Formations (Subtopic 805-60).…

7 Healthcare Private Equity Trends to Know

Healthcare continues to face a challenging economic and regulatory environment. Inflation and interest rates remain elevated, increasing both the cost of care and the cost of capital. At the same time, labor expenses remain elevated compared to pre-pandemic levels, placing…

IRS Clarifies When Cryptocurrency ‘Staking’ Rewards Are Included in Taxable Income

The IRS has published new guidance regarding the treatment of cryptocurrency staking rewards. In Revenue Ruling 2023-14, the IRS has ruled that staking rewards must be included in gross income for the taxable year in which the taxpayer acquires dominion…

Walter Shuffain Announces Hiring of Managing Director of Client Accounting Services

We are excited to announce that Todd Ellis joined the firm as Managing Director of Client Accounting Services. Before joining Walter Shuffain, Todd was a Partner in the Client Accounting Services practice at a Boston CPA firm. Todd worked closely…

Walter Shuffain Achieves New Ranking as a 2023 IPA Top 200 Firm

Walter Shuffain, P.C. (Walter Shuffain) has achieved recognition as an IPA Top 200 Firm by Inside Public Accounting (IPA). This marks the third consecutive year that the firm has secured a place on this prestigious list, ascending four positions to…

Navigating the Future of Educational Planning: Enhancements to 529 Plans Under the SECURE 2.0 Act

Written by: Stephen Candelario, CPA As parents, we all dream of providing the best education for our children. But with escalating education costs, planning for their future education can often seem daunting. Fortunately, there are now tools available, such as…

What’s Driving Margin Erosion in Healthcare?

Healthcare Has a Margin Erosion Problem The past few years have significantly destabilized the healthcare industry’s financial footing. According to our 2023 Healthcare CFO Outlook Survey, 60% of healthcare CFOs could not meet the terms of their bond or loan…

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