# WhippleWood

> Tax, Accounting & Advisory — Denver

Website: https://whipplewood.com/
Phone: 303-989-7600
Email: info@whipplewood.com
Address: 11852 Shaffer Drive, Building B, Littleton, CO 80127
Founded: 1981
Memberships: Allinial Global, Colorado Society of CPAs, AICPA
Last updated: 2026-04-13

## About

WhippleWood is a Denver-area accounting, tax, and advisory firm serving business owners, nonprofit leaders, and high-net-worth individuals. We provide outsourced accounting, tax planning, fractional CFO, business valuations, and forensic accounting services.

## Services

### Benefit Plan Audits
URL: https://whipplewood.com/services/benefit-plan-401k-audits/
Managing an employer sponsored retirement plan can be a challenging task. Not only does the company need to ensure proper processes and procedures are being followed but must also maintain compliance with both IRS and DOL regulations. As a plan grows so does the complexity of administration and ultimately the compliance regulations change. Once it crosses the threshold to “large plan” status (over 100 eligible participants) there is a requirement to undergo an annual ERISA audit. These audits are designed to ensure plan operations are in compliance with regulations set forth in the Employee Retirement Income Security Act (ERISA). They are designed to test various aspects of operations, financial reporting, and administration. The findings not only ensure stakeholders with assurance the plan is in compliance with regulations, but also provides management with access to best practices and important insights. Plan Audit Experience Whipplewood provides benefit plan audit services to plan sponsors in Denver and across Colorado. Our team has years of experience working with defined contribution plans of all sizes to deliver an efficient, deadline driven, and insightful audit process. Concurrently, the hours of ongoing training received through the AICPA Employee Benefit Plan Audit Quality Center further enhances our technical knowledge. This unique blend of expertise and experience allows us to deliver important insights to management. Whether this is a first-year plan audit, or part of ongoing compliance, our team stands ready to assist. Benefit Plan Audit Services Defined Contribution Plans including 401(k) and 403(b) Plans ERISA Compliance ERISA Section 103(a)(3)(c) or Full Scope Audits Form 5500 Preparation & Submission Plan Operations & Reviews Plans Requiring a SEC Form 11-K Filing

### Fractional CFO
URL: https://whipplewood.com/services/fractional-cfo/
Partner with a fractional, outsourced, or virtual CFO from WhippleWood to strengthen cash flow, forecasting, and financial strategy while keeping overhead in check.

The Reality of Managing Finances Without a CFO Many owners grow their business without a CFO, but as revenue and complexity increase, the lack of senior financial leadership can hold you back. Common warning signs: Cash flow uncertainty & poor forecasting Cash feels tight even when sales are strong. There is no rolling cash flow forecast to anticipate gaps or fund growth. Missed Capital & Financing Opportunities Bank and investor conversations rely on basic reports instead of robust financial models, so your numbers don’t clearly tell your business story. Limited financial reporting & unclear KPIs Financial reporting is backward-looking and hard to interpret. You lack clear, consistent metrics to monitor profitability, runway, and debt capacity. Relying on Bookkeepers for CFO-Level Strategy Bookkeepers and controllers keep records accurate, but they aren’t responsible for strategic financial planning, capital strategy, or “what if?” analysis.scenario analysis.

How WhippleWood Makes the Difference We bring CFO-level insight so you can lead with confidence. Our approach combines strategic financial planning with flexible, fractional support. Right-Sized Support Support scaled to your size, systems, team. Proactive Guidance We flag trends early so decisions improve. Tech-Driven Reporting Cloud tools automate work and accelerate close. Local Denver Roots We document, train, and strengthen your team.

Comprehensive Fractional CFO & Outsourced CFO Services Strategic Financial Planning & Forecasting Forward-looking planning that ties your financial roadmap to your long-term strategy. Multi-year financial roadmap aligned with your strategic plan Scenario-based revenue, margin, and cash flow projections Regular forecast-to-actual reviews to refine assumptions Cash Flow Management & Working Capital Day-to-day cash flow oversight to keep you funded and prepared. Detailed cash flow and runway forecasting AR, AP, and inventory reviews to speed the cash cycle Liquidity planning and credit line optimization Budgeting, Profitability & Scenario Planning Structured budgets and “what if” models to guide profitable growth. Annual and rolling budgets tied to priorities Department and project profitability analysis Break-even and “what if” models for key decisions Bank, Investor & Capital-Raising Support Financial packages and guidance that help you speak the language of lenders and investors. Bank-ready financial statements and lender presentations Investor decks and supporting financial models Support evaluating debt vs. equity when raising capital Financial Reporting, Dashboards & KPIs Clear reporting and KPIs so leadership can see performance at a glance. Management reports that explain results, not just list numbers KPI frameworks for revenue, margins, and efficiency Dashboards and leadership training to act on the data Oversight of Accounting & Internal Controls High-level oversight to strengthen your accounting function and controls. Collaboration with controllers, bookkeepers, and outsourced teams Review of chart of accounts and closing procedures Recommendations to tighten controls and reduce fraud risk Special Projects & Transaction Support CFO-level support for one-time events and complex transactions. M&A, succession, and exit-planning analysis Financial due diligence for buy- or sell-side deals Pricing, contract, and incentive plan reviews

From Reactive to Strategic Finance Our fractional CFO sprint gives you structure, insight, and partner-level visibility in clear phases. Month 1 DISCOVERY & DIAGNOSTIC We review your financials, cash flow, systems, and goals to surface risks, quick wins, and the decisions that matter most. Month 2–3 ROADMAP & QUICK WINS We build a practical financial roadmap, sharpen forecasts and KPIs, and implement early cash flow and profitability improvements. Month 3+ FRACTIONAL CFO PARTNERSHIP We serve as your ongoing part-time CFO, updating forecasts, reviewing results, and guiding major financial and strategic decisions. Book Your Free Consultation →

Meet Your Fractional CFO Team WhippleWood’s fractional CFO team is led by experienced financial professionals with backgrounds in public accounting, corporate finance, and executive leadership. Rick Whipple CEO, CPA Co-founded WhippleWood CPAs in 1981 with over 40 years of experience. Passionate advocate for small businesses and nonprofits. CPA License: CO #5486 · Masters in Tax Law, University of Denver Randall Joens Director, Client Accounting Services Director of Client Advisory Services. Improves accounting, efficiency, and compliance; turns complex numbers into clear insight. CPA License: CO #0032327 · BS Accounting & BA Economics, CSU Mitch Clark Partner, Tax Services Entrepreneurial CPA who joined in 2012. Focuses on communicating complex tax and business issues clearly to clients. CPA License: CO #9035367 · BS Accounting & Finance, Indiana University

Ready to Talk to a Fractional CFO? If you’re ready to move from reactive reporting to proactive strategy, our fractional CFO services can help you gain clarity, protect cash flow, and make confident financial decisions. Schedule Your Free Consultation Questions? info@whipplewood.com | 303-989-7600
Keywords: fractional cfo
Also available in: 10 cities nationwide
  - [Fractional CFO - New York (NY)](https://whipplewood.com/services/fractional-cfo/new-york-ny/)
  - [Fractional CFO - Las Vegas (NV)](https://whipplewood.com/services/fractional-cfo/las-vegas-nv/)
  - [Fractional CFO - Dallas (TX)](https://whipplewood.com/services/fractional-cfo/dallas-tx/)
  - [Fractional CFO - Los Angeles (CA)](https://whipplewood.com/services/fractional-cfo/los-angeles-ca/)
  - [Fractional CFO - Jersey City (NJ)](https://whipplewood.com/services/fractional-cfo/jersey-city-nj/)
  - [Fractional CFO - Fort Collins (CO)](https://whipplewood.com/services/fractional-cfo/fort-collins-co/)
  - [Fractional CFO - Buffalo (NY)](https://whipplewood.com/services/fractional-cfo/buffalo-ny/)
  - [Fractional CFO - Houston (TX)](https://whipplewood.com/services/fractional-cfo/houston-tx/)
  - [Fractional CFO - Baltimore (MD)](https://whipplewood.com/services/fractional-cfo/baltimore-md/)
  - [Fractional CFO -  Salt Lake (UT)](https://whipplewood.com/services/fractional-cfo/salt-lake-ut/)

### Life Planning
URL: https://whipplewood.com/services/life-planning/
Planning for the Future Looking for guidance to streamline your financial planning? Connect with a member who understands the whole picture. Working with our team connects you with a well-rounded advisory team to set-up your individualized plan and approach, helping you, your family or your business meet long-term goals. Having a expert is only one part of your life strategy. Legal matters, banking, wealth management and insurance coverage are other important considerations in managing success. We’re here to support you with individualized life planning services, including: Financial Planning Business/Succession Planning Banking/Loans Estate Planning Insurance/Risk Mitigation General Matters

### Business Tax
URL: https://whipplewood.com/services/business-tax/
Corporate Tax Compliance - Denver (CO) Success in business requires owners and executives to stay focused to meet growth and other objectives despite needing to address a myriad of daily issues. For many, attention is focused on account management, talent acquisition, new product/service lines, cost containment, and the constantly changing business environment. This profusion of concerns often leaves little time for other needs including corporate tax compliance. For this reason, it is important to work with a qualified advisor that understands tax updates and can offer guidance throughout the year. Business Tax Compliance Whipplewood works with businesses in Denver and across Colorado to conduct tax planning while maintaining compliance with federal filing and other requirements. Our team members have significant experience working with family-owned businesses, S-corporations, C-corporations, partnerships, trusts, and individual taxes. The unique blend of technical knowledge with practical experience allows us to provide a unique perspective on taxes. Whipplewood stand ready to help navigate the most complicated tax planning and compliance needs. Corporate Tax Services Choice of Entity Selection Estate Tax Planning IRS & State Tax Authority Representation Income Tax Issues Sales Tax Reporting Tax Due Diligence Tax Planning & Compliance 1031 Exchanges Acquisitions and sales of businesses

### Accounting
URL: https://whipplewood.com/services/accounting/
You can rely on your team of Certified QuickBooks® ProAdvisors to coordinate regular bookkeeping maintenance. With an accurate set of up-to-date financial statements, you will have more time to focus on what you know best — running your business. Leave it to us, your team of trusted advisors, to deliver timely accounting and bookkeeping information to better support your unique business goals and provide accurate financial statements as needed. Our accounting and bookkeeping services include: Account reconciliation and internal control Accounts payable processing Sales and use tax filing QuickBooks® ProAdvisors Bookkeeping Accounting systems setup and procedure documentation Streamline Your Workflow We utilize technology and third-party-systems to help streamline the way your business operates, saving you time and simplifying tedious bookkeeping tasks. These tools also provide accurate and timely financial documents, ready whenever you need them. The third-party applications we recommend clients utilize include, but are not limited to: QuickBooks® QuickBooks® Time (formerly TSheets) Bill.com Gusto Expensify We will work with you to identify, implement or upgrade accounting information systems based on your unique needs. Maximize your accounting system’s functionality and accuracy with the help of a WhippleWood.

### Assurance
URL: https://whipplewood.com/services/assurance/
Current, accurate financial information is key to making the right decisions and earning lender or investor support. We keep your financial statements up-to-date, so that you’re prepared with accurate information whenever it’s needed. Our team of advisors can assist you with the assurance or audit services to best match your needs, saving you time, energy and money in the long-run. Quality and accuracy are our highest priority. A high-quality compilation, review or audit allows you to understand the current state of your business or organization, providing insight that can inform future business decisions. Peer Review Looking for a mid-size firm to assist with an upcoming peer review? Look no further than WhippleWood. Our advisors will provide your firm with a fresh perspective on the efficiency of your firm’s policies and procedures. It is priority to provide peer reviews that are performed with a commitment to technical expertise and share best practices to improve quality moving forward. PCAOB Registered WhippleWood is an independent public accounting firm registered with the Public Company Accounting Oversight Board (PCAOB), an entity formed to oversee and maintain the highest audit standards for U.S. publicly owned companies. Although our assurance team primarily serves closely held and family-owned businesses, our leadership also has more than a decade of experience auditing publicly traded companies in accordance with the standards of the PCAOB. Entrepreneurs and private companies can benefit from this experience to prepare for an IPO or M&A transaction. Such growth or exit planning is more seamless with at least three years of PCAOB compliant financial statements. We can also prepare or assist in preparing the documentation that will be required for your audit by another registered firm.  WhippleWood can have you audit ready they arrive, minimizing your audit related costs and headaches. For additional information, download our PCAOB Fact Sheet.

### Forensic Accounting
URL: https://whipplewood.com/services/forensic-accounting/
Fraud Investigations The sad truth is that occupational fraud can happen at any organization regardless of size and sophistication. These illegal activities can take many forms, skimming, embezzlement, bribery, and financial statement fraud to name a few. These activities often go undetected for several months or years before discovered. When the ugly truth does come out, many Denver businesses make the decision to hire an attorney to take legal action. As part of the process, it is necessary to identify the evidence that provides tangible proof a crime occurred, who is responsible, and the amount of loss. This is when business owners and their attorneys turn to a forensic accountant to conduct a formal investigation. . Forensic Accounting Experience Whipplewood works with businesses and attorneys in Denver and across Colorado to investigate fraud, uncover evidence, and provide findings suitable for presentation in court. Our team of forensic accountants has worked on numerous cases helping representative attorneys present key information essential to a successful finding. Our team members are members of the AICPA Forensic and Valuation (FVS) section. Through the membership, team members receive ongoing training on the latest methods and techniques impacting fraud investigation. The result is peace of mind that comes from knowing you have the right team on your side. Forensic Accounting Services Accountant Liability Disputes Business Valuations Complex Damages Forensic Investigations Forensic Due Diligence Insurance Loss Accounting Insurance Preparation Assistance Records Examination White Collar Criminal Activity

### State & Local Tax Services
URL: https://whipplewood.com/services/state-local-tax-services/
Most Denver businesses invest time and resources into activities that will drive growth and impact the bottom line. For some, this means a new product launch, enhanced customer service systems, or new business development campaigns. Others invest time in the acquisition of new equipment, systems, or warehouses, needed to improve the fulfillment experience.  This focus means there may be less time for other priorities such as tax and financial reporting. Although every business wants to pay the least amount of federal tax possible, many are not aware the biggest liabilities may come from state and local taxes. Businesses with employees, operations, facilities, or even a certain number of customers are typically required to pay taxes even in states where they have no physical presence. Unfortunately, since each state makes its own regulations, there are different rules in different jurisdictions. Maintaining compliance with these rules is imperative to avoid the fines, penalties, and interest that can arise from non-compliance. State & Local Tax Experience Whipplewood CPAs has decades of experience working with companies and organizations in Denver and across Colorado. We understand the complicated issues which can arise when operating across state lines. Our team has a unique mix of technical expertise and practical experience that results in effective solutions. Whether dealing with a state compliance matter for the first time or requiring ongoing guidance, Whipplewood CPAs stand ready to help. State & Local Tax Services Multi State Tax Compliance Nexus Studies Sales & Use Tax Reviews Assistance with Voluntary Disclosure Agreements State Tax Audit Representation

### Business Valuations
URL: https://whipplewood.com/services/business-valuations/
A business valuation isn't just for owners who are planning to sell. WhippleWood provides qualified appraisals for transactions, tax filings, disputes, financing, and succession planning, any situation where your business value needs to hold up.

What's at Stake Without the Right Valuation Knowing what your business is worth matters in more situations than most owners expect, and getting that number right is harder than it looks No Formal Number Most owners have a number in mind, but courts, lenders, and the IRS won't accept it. Without a qualified appraisal, you're negotiating, filing, or defending a position with nothing behind it. High-Stakes Situations Divorce, disputes, and estate filings each have specific valuation requirements. Showing up without the right report means delays, penalties, or a result that doesn't reflect what the business is actually worth. Financing & Investment Lenders and investors won't move forward on a gut feeling. Without defensible evidence of value, funding conversations stall before they start. One-Size-Fits-All Reports A generic valuation meets the minimum requirement but doesn't tell you anything useful. If the report can't explain what's driving the number, it's not helping you make decisions.

How WhippleWood Makes the Difference A valuation is only as useful as the analysis behind it. WhippleWood goes beyond the formula to deliver a report that's insightful, defensible, and specific to your business. Qualified Appraisals We produce formal qualified appraisals recognized by the IRS and courts, not informal estimates. When the result of a filing, dispute, or transaction depends on your valuation, the report needs to hold up. Certified Expertise Our team holds the CVA credential through NACVA and is a member of the AICPA Forensic and Valuation Services Section, technical credentials that reflect depth of practice, not just familiarity with the field. Tailored, Not Templated A generic report checks the box. Ours shows you what's actually driving your value and what you can improve. We assess earnings quality, growth trajectory, customer concentration, and transferability rather than applying a formula. Personal Service You work directly with the advisor doing the analysis, not a team you've never met. WhippleWood keeps things personal without cutting corners on the work.

Comprehensive Business Valuation Services Transaction Valuations Qualified appraisals to support the purchase or sale of a business, or to establish value in a buy/sell agreement: Fair market value determination for transactions Buy/sell agreement valuation Minority interest and controlling interest analysis Valuation report suitable for use by legal counsel and lenders Estate & Gift Tax Valuations IRS-recognized qualified appraisals for estate and gift tax reporting: Business interest valuation for estate tax (Form 706) and gift tax (Form 709) Minority interest and marketability discount analysis Coordination with estate attorneys and tax advisors Divorce & Shareholder Dispute Valuations Independent, court-admissible valuations for legal proceedings: Disputed business interest valuation Minority and controlling interest analysis Litigation support for legal counsel Financing & Investor Valuations Defensible valuations that satisfy lender underwriting and investor due diligence requirements: SBA and lender-required fair market value reports Investor-ready valuation documentation Capital raise and financing support Succession Planning Valuations Understand your business value before planning how ownership will transfer: Family business and ownership transfer valuation Long-term value tracking across planning periods Coordination with estate and succession advisors

From Engagement to a Report That Holds Up Our valuation process is thorough and documented, built to produce a number that is defensible wherever it needs to go, whether that's the IRS, a courtroom, or a negotiating table. Intake Information & Context We gather financial statements, tax returns, organizational documents, and any relevant agreements. We discuss the purpose of the valuation, your industry, and the specific factors, including earnings trends, customer risk, and key personnel, that shape what your business is worth. Analysis Analysis & Appraisal We apply the appropriate valuation approaches, income, market, and/or asset-based, based on your business type and the purpose of the engagement. We assess value drivers, evaluate financial trends, and apply any applicable discounts or premiums to arrive at a defensible conclusion. Delivery Report & Debrief We deliver a formal qualified appraisal report and walk you through the findings. We explain what's driving the number, answer your questions, and where the valuation connects to an exit plan, estate filing, or legal matter, discuss what comes next. Book Your Free Consultation →

Meet Your Nonprofit Accounting Experts Experienced CPAs dedicated to supporting nonprofit organizations Rick Whipple CEO, CPA Co-founded WhippleWood CPAs in 1981 with over 40 years of experience. Passionate advocate for small businesses and nonprofits. CPA License: CO #5486 · Masters in Tax Law, University of Denver Randall Joens Director, Client Accounting Services Director of Client Advisory Services. Improves accounting, efficiency, and compliance; turns complex numbers into clear insight. CPA License: CO #0032327 · BS Accounting & BA Economics, CSU Mitch Clark Partner, Tax Services Entrepreneurial CPA who joined in 2012. Focuses on communicating complex tax and business issues clearly to clients. CPA License: CO #9035367 · BS Accounting & Finance, Indiana University
Keywords: business tax planning Denver

### Consulting
URL: https://whipplewood.com/services/consulting/
Running a successful business brings a lot of questions that any business owner may feel overwhelmed with. Our team offers a variety of business advisory services to help you understand your financial position, the impact of certain business transactions and can provide accurate reporting to help your team understand what lies ahead. Our team of advisors help business owners make informed decisions by providing transparent financial reports, and by offering fresh solutions to the specific challenges you face. Here are a few business advisory solutions we can help with: Buy/sell transactions Management consulting Succession planning Process improvement Business analysis Business valuations  Benchmarking Financial systems strategy – selection and implementation Optimizing outside financial capital Forensic accounting Fraud protection Mergers and acquisitions Internal controls Litigation support Technology

### Accounting & Bookkeeping Services
URL: https://whipplewood.com/services/accounting-bookkeeping-services/
Partner with a bookkeeping and accounting team from WhippleWood to handle day-to-day books and monthly close for businesses and nonprofits across Denver and Colorado.

40+ years serving Colorado organizations Client accounting services team Tech-enabled workflows: QuickBooks, Bill.com, Gusto

The Reality of Managing Your Own Books Running a business or nonprofit means balancing growth and mission delivery with increasingly complex financial requirements. Day-to-Day Bookkeeping Pressure Invoices, receipts, payroll, and reconciliations pile up quickly. When bookkeeping services are handled “off the side of the desk,” it’s easy for your accounting records to fall behind and for small errors to compound into bigger problems. Cash Flow & Compliance Demands Vendors, employees, lenders, and tax authorities all expect timely, accurate payments and reports. Managing cash flow while staying compliant with sales and use tax, payroll, and other requirements takes more time and technical knowledge than many teams have in-house. Lack of Clear Financial Visibility Without current financial statements and clear reporting, it’s hard to answer basic questions: Can we afford this hire? Which services or programs are actually profitable? How much cash will we have 90 days from now? Resource Constraints Every hour you spend in the general ledger is an hour you’re not spending on sales, service, or mission. Hiring a full internal accounting department is expensive; doing it all yourself is risky. You need efficient, cost-effective accounting and bookkeeping services that scale with your organization.

How WhippleWood Makes the Difference We focus on your numbers so you can focus on strategy. Our approach combines expertise with modern efficiency. Right-Sized Solutions Support scaled to your size, systems, team. Proactive guidance We flag trends early so decisions improve. Technology-driven Cloud tools automate work and accelerate close. Knowledge Transfer We document, train, and strengthen your team.

Comprehensive Accounting & Bookkeeping Services Core Accounting & Bookkeeping Monthly maintenance and reporting that keep you ready for lenders, boards, and tax filings   Bookkeeping and transaction coding Bank and credit card reconciliations Month-end close and adjusting entries Financial statement preparation (balance sheet, income statement, cash flow) Basic variance analysis and management reporting Accounts Payable & Receivable Support Put structure around the money going out and coming in   Accounts payable processing and payment scheduling Vendor setup and documentation support Customer invoicing and receivables tracking Aging reports and light collections support Controller-Level Oversight & Advisory Get the benefit of experienced financial leadership without a full-time hire   Oversight of monthly close and internal controls Cash flow forecasting and basic budgeting support KPI and dashboard design aligned to your goals Participation in leadership or board conversations as needed Audit & Tax Support Seamless coordination with your tax and assurance needs   Books prepared to support tax filings and financial statement work Assistance gathering schedules and documentation for auditors Collaboration with WhippleWood's tax and assurance teams so your information flows smoothly Systems Setup, Documentation & Technology Solutions We utilize technology and third-party systems to help streamline the way your business operates, saving you time and simplifying tedious bookkeeping tasks. These tools also provide accurate and timely financial documents, ready whenever you need them.   Accounting systems setup, clean-up, or conversion (with a focus on QuickBooks®) Procedure documentation for recurring tasks and month-end close Integration of time tracking, expense management, bill pay, and payroll tools Staff training and support

From Chaos to Clarity in 30 Days Our accounting and bookkeeping sprint gives you structure, controls, and partner-level visibility in phases—so teams aren’t overwhelmed and leadership gets clean numbers fast. Week 1–2 Discovery We benchmark your current close, map systems, and surface every blocker keeping you from timely, accurate financial reporting. Week 3–4 Foundation We rebuild or refine your chart of accounts, standardize coding, and automate reconciliations wherever possible. We set up a consistent month-end checklist so nothing falls through the cracks. Month 2+ Partnership We serve as your ongoing accounting and bookkeeping team, delivering regular financial statements, cash flow views, and proactive alerts when something needs your attention. Book Your Free Consultation →

Meet Your Fractional CFO Team WhippleWood’s fractional CFO team is led by experienced financial professionals with backgrounds in public accounting, corporate finance, and executive leadership. Rick Whipple CEO, CPA   Co-founded WhippleWood CPAs in 1981 with over 40 years of experience. Passionate advocate for small businesses and nonprofits. CPA License: CO #5486 · Masters in Tax Law, University of Denver Randall Joens Director, Client Accounting Services   Director of Client Advisory Services. Improves accounting, efficiency, and compliance; turns complex numbers into clear insight. CPA License: CO #0032327 · BS Accounting & BA Economics, CSU Mitch Clark Partner, Tax Services   Entrepreneurial CPA who joined in 2012. Focuses on communicating complex tax and business issues clearly to clients. CPA License: CO #9035367 · BS Accounting & Finance, Indiana University

FREE ACCOUNTING & BOOKKEEPING TEMPLATES Download our month-end close checklist, cash flow tracker, and AR/AP templates to simplify your day-to-day accounting. Download FREE Templates (Limited Time) ▶

Ready to Focus on What Matters? Let's discuss how WhippleWood can strengthen your financial management while you strengthen your community. Schedule Your Free Consultation Questions? info@whipplewood.com | 303-989-7600
Keywords: bookkeeping services

### Strategic Planning
URL: https://whipplewood.com/services/strategic-planning/
Implementing a financial plan for the future can increase prosperity for you, your family and your business in the years ahead. Share your fiscal goals with us, and we will help you achieve them. Trust and estate planning and compliance Family wealth management Compensation planning Financial consulting Performance analysis Personal financial statements

### Tax Services
URL: https://whipplewood.com/services/tax/
Most high-net-worth individuals and business owners have little time to think about taxes. Rather attention is invested in growth activities including business development, new service/product deliverables, and pricing strategies. Others may spend time pursuing philanthropic endeavors, managing the family business, or pursuing new entrepreneurial ventures. This leaves little time to focus on state and federal income tax planning, and other tax concerns which arise throughout the year. Aside from this, constantly changing tax regulations make it near impossible to stay current. For this reason, it is essential to work with a qualified advisor that can guide you through the details and offer the needed guidance and support. Tax Experience Whipplewood has years of experience serving the tax needs of high-net-worth individuals and business owners in Denver and across the country. Our team understands the unique challenges encountered when dealing with complex tax situations. Through a combination of practical experience and technical expertise we deliver creative solutions to solve the most puzzling challenges. Not only can we assist with planning and compliance but can help with estate and trust planning and international tax needs. Whatever the complexity, Whipplewood stands ready to assist. Our Tax Services Complex Entity Tax Structuring Business Tax Estate and Trust Planning IRS & State Authority Representation International Tax R&D Tax Credit Sales Tax Reporting State & Local Tax Tax Planning & Compliance

### Business Tax Planning & Compliance
URL: https://whipplewood.com/services/business-tax-planning-compliance/
Tax support for businesses in Denver and across Colorado, proactive guidance, accurate filings, and year-round collaboration to reduce surprises, manage risk, and support smarter decisions.

The Reality of Business Tax Management Running a business means addressing a myriad of daily issues while staying compliant with tax obligations Federal & State Filing Requirements Federal and state tax obligations evolve each year. Staying compliant means keeping pace with tax updates, filing requirements, and the records needed to support accurate reporting throughout the year. Entity Structure Complexity Solo proprietorship, SMLLC, S-corps, C-corps, and partnerships each carry distinct tax obligations. Choosing and revisiting the right entity structure is a key part of effective tax planning. Tax Planning vs. Compliance Reactive tax preparation can limit your options. Proactive year-round planning supports smarter decisions while maintaining compliance with federal & state filing and other requirements. Business Growth Demands Acquisitions, business sales, and 1031 exchanges create complex tax events requiring careful planning. Experienced guidance helps you understand the tax impact of each transaction.

How WhippleWood Makes the Difference We combine technical knowledge with practical experience to provide a unique perspective on your business taxes: Technical knowledge Deep understanding of tax law across entity types Practical experience Real-world solutions for family businesses and corporations Proactive guidance Year-round tax planning, not just annual filing Across the US & multiple states Serving businesses throughout the United States, including multiple states

Comprehensive Business Tax Services Tax Planning & Compliance Year-round strategies that reduce your tax burden: Federal and state income tax compliance Year-round tax planning and guidance throughout the year Colorado and multi-state filing requirements Entity Selection & Structuring Choose the right entity structure as your business evolves: Choice of entity selection and analysis S-corporation and C-corporation tax considerations Partnership tax obligations Strategic tax transaction advisory Support for complex, high-impact tax transactions: Business Acquisitions, Mergers & Sales Ownership Restructuring & Entity Reorganization 1031 Like-Kind Exchanges, Qualified Small Business Stock (QSBS), Cross-Border Transactions, and other complex tax transactions. Tax Due Diligence & Risk Assessment Support for business transactions and tax planning needs: Income tax issues Historical return review and analysis State and local tax review IRS & state tax authority representation

From Questions to Confidence in Your Tax Strategy Our business tax services support year-round planning and compliance, so you can stay focused on running your business while we help manage tax complexity. Week 1–2 Assessment We review your entity type and current compliance needs, then outline the key filing and planning priorities for the year. Week 3–4 Strategy We help you plan for key tax items and upcoming filings, aligning your approach with your entity type and business activity. Ongoing Partnership We provide guidance throughout the year and support compliance with federal filing and other requirements as your business changes. Book Your Free Consultation →

Meet Your Business Tax Experts Experienced tax advisors helping businesses stay compliant and plan year-round Rick Whipple CEO, CPA   Co-founded WhippleWood in 1981. Brings decades of experience helping Colorado business owners navigate tax complexity, reduce surprises, and plan with confidence. CPA License: CO #5486 · Masters in Tax Law, University of Denver Mitch Clark Partner, Tax Services   Joined in 2012 and focuses on practical business tax guidance. Communicates complex issues clearly and helps clients plan proactively, file accurately, and respond fast. CPA License: CO #9035367 · BS Accounting & Finance, Indiana University Yoonmi Kim Senior Manager, Tax Service   Provides strategic tax leadership with 18+ years of experience, specializing in tax compliance, planning, and consulting for individuals, businesses, trusts, estates, and nonprofit organizations. CPA License: CO #25055 · Colorado Society of CPAs

Free Business Tax Planning Resources Download our tax planning checklist, entity comparison guide, and compliance calendar. Download FREE Templates (Limited Time) ▶
Keywords: business tax planning Denver

### Nonprofit Tax Services
URL: https://whipplewood.com/services/nonprofit-tax-services/
Staying exempt requires more than filing Form 990. WhippleWood guides public charities and private foundations through complex compliance requirements, protecting the exemption your organization depends on.

The Reality of Nonprofit Tax Compliance Protecting your exempt status requires more than filing a return, it demands year-round vigilance and specialized knowledge Exempt Status Is Never Guaranteed Tax-exempt status must be earned and maintained. Failing to meet IRS reporting standards, governance requirements, or operational rules can jeopardize the exemption an organization depends on to operate. Prohibited Activities & Self-Dealing Prohibited transactions, self-dealing, and excess benefit rules are complex and easy to violate unintentionally. For private foundations especially, the financial consequences of non-compliance can be severe. Complex Annual Compliance The Form 990 series is far more than a tax return. It is a public document that signals governance quality to donors, watchdog groups, and regulators, and errors or omissions carry real reputational risk. Unrelated Business Income Not all nonprofit revenue is tax-exempt. Income from activities unrelated to the organization's exempt mission may be subject to tax, and failing to report it correctly creates real compliance exposure.

How WhippleWood Makes the Difference We combine technical depth in nonprofit tax law with proactive advisory, so your organization stays compliant, protected, and focused on its mission. 990 Series Expertise We bring professional-level knowledge of Forms 990, 990-EZ, 990-N, 990-PF, and 990-T, ensuring every filing is accurate, complete, and defensible under IRS scrutiny. Risk Before It Happens We proactively identify governance gaps, self-dealing risks, excess compensation issues, and operational red flags before they become penalties or threats to your exempt status. Foundation Rules Private foundations face a uniquely strict regulatory environment. We manage excise tax calculations, minimum distribution compliance, and prohibited transaction reviews so nothing falls through the cracks. Support Monitoring We calculate and monitor your public support test results year over year, alerting you early when trends require a change in strategy to protect your public charity classification.

Comprehensive Not-for-Profit Tax Services Tax-Exempt Status Applications Expert guidance from day one, preparing and filing for tax-exempt recognition with the IRS: IRS Form 1023 and 1023-EZ preparation and filing IRS determination letter follow-up support Exempt status compliance review for newly formed organizations Annual Federal Filing Compliance Descriptor: Accurate, timely filings across the full Form 990 series, for every type of nonprofit: Form 990, 990-EZ, and 990-N preparation and filing for public charities Form 990-PF preparation and filing for private foundations Form 990-T preparation and filing for unrelated business income State filing and registration compliance Public Charity Compliance Protect your public charity status with ongoing support test monitoring and compliance oversight: Public support test calculations and year-over-year monitoring Donor disclosure and reporting requirements UBIT identification and planning Governance and operational compliance review Private Foundation Advisory Navigate the strictest rules in nonprofit tax law with confidence and precision: Minimum distribution (5% payout) compliance and planning Excise tax calculation and management Self-dealing and prohibited transaction review Investment and grant-making compliance guidance Exempt Status Protection Year-round monitoring to keep your organization on the right side of IRS regulations: Ongoing compliance review and risk identification Prohibited activities and excess benefit transaction guidance Compensation and governance structure advisory IRS inquiry and notice response support

From Compliance Review to Year-Round Protection Our not-for-profit tax process moves in deliberate phases, from assessing your current compliance posture to filing with precision, so your exempt status is protected and your organization can stay focused on its mission. Week 1–2 Assessment We review your organization's structure, prior filings, funding sources, and activities. We identify any existing compliance gaps, assess exposure to prohibited transaction or UBIT risk, and establish a clear picture of your current regulatory standing. Through filing deadline Filing & Compliance We prepare and file your Form 990 series returns, 990, 990-EZ, 990-N, 990-PF, or 990-T as applicable, with full supporting documentation. For new organizations, we manage the Form 1023 process from preparation through IRS determination. Every filing is technically accurate and prepared to withstand scrutiny. Year-round Ongoing Partnership We remain engaged beyond the filing deadline, monitoring public support test results, flagging governance and operational risks, advising on distribution compliance for private foundations, and alerting you to legislative or regulatory changes before they affect your organization. Book Your Free Consultation →

Meet Your Nonprofit Accounting Experts Experienced CPAs dedicated to supporting nonprofit organizations Rick Whipple CEO, CPA Co-founded WhippleWood CPAs in 1981 with over 40 years of experience. Passionate advocate for small businesses and nonprofits. CPA License: CO #5486 · Masters in Tax Law, University of Denver Randall Joens Director, Client Accounting Services Director of Client Advisory Services. Improves accounting, efficiency, and compliance; turns complex numbers into clear insight. CPA License: CO #0032327 · BS Accounting & BA Economics, CSU Mitch Clark Partner, Tax Services Entrepreneurial CPA who joined in 2012. Focuses on clearly communicating complex tax and business issues to clients with practical guidance. CPA License: CO #9035367 · BS Accounting & Finance, Indiana University

Free Business Tax Planning Resources Download our tax planning checklist, entity comparison guide, and compliance calendar. Download FREE Templates (Limited Time) ▶
Keywords: business tax planning Denver

### Individual Tax Planning & Compliance
URL: https://whipplewood.com/services/individual-tax-planning-compliance/
Your financial life is too complex for a reactive approach. WhippleWood provides year-round tax planning and compliance for high-income individuals, business owners, investors, and multi-state filers.

The Reality of Complex Individual Tax Situations High-income individuals face tax challenges that require more than a preparer, they require a strategic advisor Beyond the Standard Return High income professionals and business owners often juggle multiple income streams, pass-through entities, and investments, creating complexity that a standard tax preparer is not equipped to handle. Unexpected Tax Exposure Complex income structures create exposure to net investment income tax, self-employment tax, AMT, and state-level obligations that many filers don't anticipate until it's too late to plan around them. Filing vs. Planning Many clients arrive having filed returns that were technically accurate but missed significant planning opportunities. A reactive preparer files what happened — a strategic advisor shapes what happens next. Coordination Across Tax Matters Personal income, business activity, investments, and estate planning rarely exist in isolation. Without coordinated advice, decisions made in one area often create unintended tax consequences in another.

How WhippleWood Makes the Difference We are strategic advisors, not reactive preparers, delivering year-round guidance that keeps more money in your hands. Proactive Planning We identify opportunities, time income and deductions strategically, and build your plan before the year closes, not after. Complex Income From pass-through entities to equity compensation and multi-state obligations, we bring deep expertise to the situations most preparers aren't equipped to handle. Integrated Advisory We coordinate across your personal, business, and investment tax matters so every decision is made with the full picture in view, not in isolation. Audit-Ready Compliance We proactively identify red flags before filing, ensuring your return is accurate, well-substantiated, and prepared to withstand scrutiny.

Comprehensive Individual Tax Services Individual Tax Return Preparation Accurate, thorough preparation for complex individual returns, every income source accounted for: Federal and state income tax return preparation Multi-state filing compliance Equity compensation reporting (stock options, RSUs, ESPP) Investment and capital gains reporting Rental and real estate income Tax Planning Strategies Forward-looking strategies to minimize your tax burden before the year ends: Year-round income and deduction timing strategies Estimated tax planning and quarterly payment management Roth conversion and retirement contribution planning Charitable giving strategies Tax impact analysis for major financial decisions Complex Income & Transaction Advisory Expert guidance for the income situations that require more than a standard approach: Pass-through entity income and K-1 analysis Business sale and liquidity event planning Equity compensation planning and tax modeling Real estate investment tax strategies Net investment income tax and AMT planning Multi-State & International Tax Compliance Navigate multi-state obligations and international filing requirements with confidence: Multi-state residency and domicile analysis State and local income tax compliance Foreign income and asset reporting guidance Coordination with state tax authorities IRS & State Authority Representation Protect your interests if the IRS or a state authority comes calling: IRS notice response and representation State tax authority correspondence and appeals Audit support and documentation preparation Integrated Advisory Coordination Cohesive guidance that connects your tax strategy to your broader financial plan: Coordination with financial advisors and wealth managers Collaboration with business tax advisors Estate and succession planning tax coordination Life event planning (marriage, divorce, inheritance, relocation)

From First Meeting to Year-Round Partnership Our individual tax process moves in clear phases, from understanding your full financial picture to filing with confidence, so every opportunity is captured and nothing is left to chance. Week 1–2 Discovery We review your prior returns, income sources, financial events, and existing advisor relationships. We identify planning gaps, assess exposure to additional taxes, and establish a clear picture of where you stand and what needs to change. Ongoing through filing Planning & Compliance We develop a forward-looking tax strategy aligned to your income, investments, and goals. We prepare and file your federal and state returns with full supporting documentation, accurate, well-substantiated, and audit-ready. Month 2+ Year-Round Partnership We remain engaged throughout the year, monitoring legislative changes, advising on major financial decisions, coordinating with your other advisors, and keeping your tax position optimized as your situation evolves. Book Your Free Consultation →

Meet Your Individual Tax Experts Experienced tax advisors dedicated to serving high-net-worth individuals and business owners Rick Whipple CEO, CPA   Co-founded WhippleWood in 1981. Brings decades of experience helping Colorado business owners navigate tax complexity, reduce surprises, and plan with confidence. CPA License: CO #5486 · Masters in Tax Law, University of Denver Mitch Clark Partner, Tax Services   Joined in 2012 and focuses on practical business tax guidance. Communicates complex issues clearly and helps clients plan proactively, file accurately, and respond fast. CPA License: CO #9035367 · BS Accounting & Finance, Indiana University Yoonmi Kim Senior Manager, Tax Service   Provides strategic tax leadership with 18+ years of experience, specializing in tax compliance, planning, and consulting for individuals, businesses, trusts, estates, and nonprofit organizations. CPA License: CO #25055 · Colorado Society of CPAs

Free Business Tax Planning Resources Download our tax planning checklist, entity comparison guide, and compliance calendar. Download FREE Templates (Limited Time) ▶
Keywords: business tax planning Denver

### Financial Statement Audits
URL: https://whipplewood.com/services/financial-statement-audits/
As Denver businesses grow and financial needs become more complicated there is often a need to undergo an annual financial statement audit. Typically, they are required to comply with debt or loan covenants, and supplier agreements, satisfy regulatory requirements, or meet stakeholder needs. The purpose of an audit is to assess and prove that management prepared financial statements accurately represented by obtaining evidence through inquiries, observations, and third-party confirmation. The use of different accounting principles combined with management assumptions needs to be validated by an independent auditor to ensure proper presentation and compliance with Generally Accepted Auditing Standards (GAAS). Financial Statement Audit Steps Risk Assessment & Planning - During this phase, our team becomes familiar with the business and operating environment to identify the areas that have the greatest risk of reporting errors. Internal Controls Evaluation -Time will be dedicated to conducting an evaluation for the purpose of comprehending the internal control structure. This includes understanding how assets are safeguarded, duties are segregated, and how authorization rules are used. This information is essential to the identification of the most effective audit procedures. Audit Fieldwork - This is the time when our team is actively involved in testing various processes and procedures and is focused on collecting needed audit evidence. Typically examined areas include accounts receivable, accounts payable, fixed assets, debt, revenue, expenses, and inventory. Audit Report - After fieldwork is concluded, our team will review all findings and begin drafting the financial statement which typically includes the income and cash flow statements, balance sheet, changes in equity, and footnote disclosures. Along with this information will be the auditor’s opinion which essentially certifies the financial statement. There are four types of opinions unqualified, qualified, adverse, and disclaimer. The unqualified opinion is the best because it confirms the financial information is fairly presented. Financial Statement Audit Experience Whipplewood has years of experience conducting financial statement audits for companies in Denver and across Colorado. Our team members have experience working with organizations of all sizes to deliver a deadline-driven and cost-effective audit solution. The unique blend of technical expertise and practical experience allows us to deliver insights to management. Whether this is a first-time audit, or you have been undergoing one for years, Whipplewood stands ready to assist.

### Estate & Gift & Trust Tax
URL: https://whipplewood.com/services/estate-gift-trust-tax/
Estate, gift, and trust taxes are complex, and the stakes are high. WhippleWood provides compliance, planning, and advisory services that protect your wealth and ensure assets transfer according to your wishes.

The Reality of Estate, Gift & Trust Tax Compliance The moments that matter most often come with the most complex tax obligations Uncertain Filing Obligations Many individuals are unsure when estate, gift, or trust tax returns are required. Missing a filing obligation can trigger penalties and IRS scrutiny that are far more costly to resolve after the fact. Sudden Estate Administration Unexpected death forces families to face compliance deadlines while grieving. Estate returns, asset valuations, and required filings still proceed on strict IRS timelines regardless of personal circumstances. Gift Reporting & Lifetime Exemptions Large gifts create reporting obligations that donors often overlook. Without guidance, gifts may consume lifetime exemptions or trigger tax liability exposure for both the donor and recipient. Fiduciary Responsibilities Trustees and executors have duties to both beneficiaries and tax authorities. Missing deadlines or failing to file required returns can expose them to personal liability, penalties, and costly legal disputes.

How WhippleWood Makes the Difference We go beyond tax preparation, we serve as a trusted advisor during your most significant financial and personal transitions. Know Your Exposure We clarify exactly what tax obligations apply to your estate, gifts, or trust, so you know where you stand. Rules Made Clear We translate Forms 706, 709, and 1041 into plain language, giving you clarity and confidence at every step. Structured Planning From gifting strategy to distribution planning, we give you a structured path to tax-efficient wealth transfer. Proactive Monitoring We track your lifetime exemption usage, monitor legislative changes, you stay ahead of shifting rules.

Comprehensive Estate, Gift & Trust Tax Services Estate Tax Services (Form 706) Strategies to minimize estate taxes and protect family wealth across generations: Estate tax return preparation and filing Estate asset valuation coordination Compliance review for federal and state obligations Gift Tax Services (Form 709) Structure lifetime gifts to maximize exemptions and reduce future estate tax exposure: Gift tax return preparation and filing Lifetime gifting strategy planning Exemption tracking and utilization analysis Trust Tax Services (Form 1041) Compliant, tax-efficient trust administration for estate, simple, and complex trusts: Trust tax return preparation (estate, simple, and complex trusts) Distribution planning and tax efficiency review Fiduciary compliance and reporting support Tax Exposure Assessment Clarify your filing obligations before they become costly surprises: Clarify filing requirements for estates, gifts, and trusts Identify potential IRS scrutiny areas Provide documented positions for defensible filings Strategic & Ongoing Planning Stay ahead of exemption changes and legislative shifts with proactive long-term planning: Lifetime exemption tracking and monitoring Legislative change review and impact analysis Business succession tax planning support

From First Meeting to Long-Term Partnership Our estate, gift, and trust tax process moves in clear phases, from understanding your obligations to filing with confidence, so nothing is missed and you always know what comes next. Week 1–2 Discovery We review your existing estate documents, prior returns, asset structure, and any prior gifts made. We identify filing obligations, assess potential exposure, and clarify what needs to happen, and by when. Week 3–4 Compliance & Filing We prepare and file required returns (Forms 706, 709, and/or 1041) with full supporting documentation. We coordinate with appraisers, attorneys, and financial advisors to ensure accuracy and defensibility. Ongoing Planning & Partnership We serve as your ongoing advisor, tracking lifetime exemption usage, monitoring legislative changes, and providing proactive recommendations as your family, business, or asset structure evolves. Book Your Free Consultation →

Meet Your Estate, Gift & Trust Tax Experts Experienced experts dedicated to protecting your wealth and guiding your family through complex transitions Rick Whipple CEO, CPA Co-founded WhippleWood in 1981. Brings decades of experience helping Colorado business owners navigate tax complexity, reduce surprises, and plan with confidence. CPA License: CO #5486 · Masters in Tax Law, University of Denver Mitch Clark Partner, Tax Services Joined in 2012 and focuses on practical business tax guidance. Communicates complex issues clearly and helps clients plan proactively, file accurately, and respond fast. CPA License: CO #9035367 · BS Accounting & Finance, Indiana University Yoonmi Kim Senior Manager, Tax Service Provides strategic tax leadership with 18+ years of experience, specializing in tax compliance, planning, and consulting for individuals, businesses, trusts, estates, and nonprofit organizations. CPA License: CO #25055 · Colorado Society of CPAs

Free Business Tax Planning Resources Download our tax planning checklist, entity comparison guide, and compliance calendar. Download FREE Templates (Limited Time) ▶
Keywords: business tax planning Denver

### Financial Statement Reviews
URL: https://whipplewood.com/services/financial-statement-reviews/
A financial statement review provides limited assurance there are no material modifications that need to be made to achieve conformity with Generally Accepted Accounting Principles (GAAP) or other standards. A review is often required when financial statements are prepared for prospective investors with small stakes in the business, certain lenders, and creditors, and to satisfy various regulatory requirements. The purpose is to provide limited assurance there are no material modifications that need to be made to financial statements. An independent auditor will conduct management inquiries and analytical procedures necessary to render an opinion about the financials Unlike an audit, there is no requirement to obtain an understanding of internal controls, test accounting records, request third-party confirmations, or examine documentation. However, the auditor will need to review copies of contracts, agreements, board minutes, and other data to assist with the preparation of financials and related footnote disclosures. Financial Statement Review Experience Whipplewood have experience providing financial statement reviews for businesses and organizations in Denver and across Colorado. Our audit professionals have years of experience assisting companies with financial statement assurance. Our combination of technical expertise and practical experience translates into a straightforward, deadline-driven, process. Whether this is a first-time review or you have been undergoing one for years, Whipplewood stand ready to assist.  

### State/ Local Tax
URL: https://whipplewood.com/services/state-local-tax/
State and local tax obligations don't wait for you to catch up. WhippleWood provides nexus reviews, apportionment guidance, residency planning, and audit representation across all jurisdictions where you operate.

The Reality of Multi-State Tax Complexity Every state writes its own rules, and the cost of not knowing them falls entirely on you Nexus Exposure Many businesses operating across state lines don't know where they have a tax filing obligation. Undetected nexus exposure can result in back taxes, and interest that accumulate quietly over years. Sales Tax Blind Spots Sales tax rules differ by state, product, and channel, and change frequently. Multi-state operators and e-commerce sellers often carry compliance gaps they don't find until a state audit surfaces them. Residency Under Scrutiny States aggressively audit high-income individuals who change residency or split time across multiple states. Without clear documentation and proper planning, residency disputes can result in double taxation. Apportionment Done Wrong Multi-state income apportionment requires applying different rules in every jurisdiction, and errors cut both ways. Businesses may overpay in some states while creating underpayment exposure in others.

How WhippleWood Makes the Difference Our experienced professionals combine advanced tax research technology with deep technical expertise, delivering jurisdiction-specific solutions that give you clarity and confidence across every state. Nexus Analysis We identify where you have state tax filing obligations, quantify the potential exposure, and provide a clear, strategic path to getting into compliance. Apportionment Expertise We apply each state's specific apportionment, sourcing, and allocation rules to your income, ensuring accurate, defensible positions grounded in jurisdiction-specific statutes. Residency Planning We advise individuals on residency and domicile determinations, help document multi-state presence properly, and resolve disputes before they escalate into costly audits. Audit Representation When a state tax authority issues a notice or opens an audit, we represent you directly, managing the process, responding to inquiries, and protecting your interests throughout.

Comprehensive State & Local Tax Services Nexus Review & Exposure Analysis Know exactly where you have state tax obligations, before a state tells you: State income, franchise, and sales tax nexus identification Economic and physical nexus assessment Exposure quantification and voluntary disclosure guidance Multi-state filing obligation determination Multi-State Income Tax Compliance Accurate apportionment and filing across every state where you have an obligation: State income and franchise tax return preparation Apportionment factor calculation and methodology review Pass-through entity state compliance for business owners State estimated tax planning and payment management Individual Multi-State Tax Services Clarity for high-income individuals navigating residency, sourcing, and multi-state filing: Residency and domicile analysis and planning Multi-state individual income tax return preparation Remote worker state tax compliance Pass-through income sourcing and multi-state reporting Audit & Notice Representation Experienced representation when a state tax authority comes knocking: State income and sales tax audit representation Notice response and correspondence management Voluntary disclosure program assistance Appeals and controversy support

From Exposure Assessment to Ongoing Compliance Our state and local tax process moves in deliberate phases, from identifying where you have obligations to keeping you compliant as your business and personal situation evolve across jurisdictions. Week 1–2 Assessment We review your business operations, revenue streams, employee locations, and individual financial activity to identify where state and local tax obligations exist. We quantify potential exposure, prioritize risks, and develop a clear picture of your current compliance standing across all relevant jurisdictions. Ongoing through deadlines Compliance & Filing We prepare and file all required state and local tax returns, applying jurisdiction-specific apportionment, sourcing, and residency rules to every position. For businesses with undetected nexus, we manage the voluntary disclosure process to minimize back-tax exposure. Every filing is accurate, well-documented, and defensible. Year-round Ongoing Partnership We monitor legislative and regulatory changes across the states that affect you, advise on the tax implications of expansion decisions, remote hiring, and individual relocations, and remain available to respond to state notices and audits as your first line of defense. Book Your Free Consultation →

Meet Your State & Local Tax Experts Experienced professionals dedicated to navigating complex multi-state tax requirements Rick Whipple CEO, CPA   Co-founded WhippleWood in 1981. Brings decades of experience helping Colorado business owners navigate tax complexity, reduce surprises, and plan with confidence. CPA License: CO #5486 · Masters in Tax Law, University of Denver Mitch Clark Partner, Tax Services   Joined in 2012 and focuses on practical business tax guidance. Communicates complex issues clearly and helps clients plan proactively, file accurately, and respond fast. CPA License: CO #9035367 · BS Accounting & Finance, Indiana University Yoonmi Kim Senior Manager, Tax Service   Provides strategic tax leadership with 18+ years of experience, specializing in tax compliance, planning, and consulting for individuals, businesses, trusts, estates, and nonprofit organizations. CPA License: CO #25055 · Colorado Society of CPAs

Free Business Tax Planning Resources Download our tax planning checklist, entity comparison guide, and compliance calendar. Download FREE Templates (Limited Time) ▶
Keywords: business tax planning Denver

### International Tax
URL: https://whipplewood.com/services/international-tax/
Cross-border tax is complex and the penalties are severe. WhippleWood helps individuals, expats, and businesses navigate international compliance and minimize global tax burden.

The Reality of Cross-Border Tax Obligations International tax is where complexity and penalty exposure are highest, and where getting it wrong costs the most Severe Penalties for Missed Filings Foreign account and asset reporting obligations carry severe penalties. Missing an FBAR, FATCA, or foreign entity filing, even unknowingly, can trigger consequences that far exceed the underlying tax. Taxed in Two Countries Cross-border income can be taxed by more than one country at once. Without treaty analysis and foreign tax credit planning, double taxation becomes an avoidable but very real cost of operating globally. Residency Rules That Don't Agree Residency and income sourcing rules vary by country and treaty. Errors in this analysis result in income taxed in the wrong place, or in multiple places, creating gaps and exposure that grow over time. Reporting Rules Most Owners Miss Foreign entities and passive investments trigger US reporting rules and potential income inclusions. CFC rules, GILTI calculations, and PFIC treatment create compliance obligations that are easy to miss.

How WhippleWood Makes the Difference We combine deep technical knowledge of international tax law with coordinated advisory support, giving individuals and businesses the clarity to operate globally with confidence. Technical Depth We bring precise knowledge of foreign entity classification, PFIC rules, CFC and GILTI calculations, and international reporting forms, ensuring every position is accurate and defensible. Reduce Double Taxation We analyze applicable tax treaties and optimize foreign tax credit utilization to minimize your global tax burden, so you aren't paying more than you owe across jurisdictions. Compliance Gap Review We review your filing history to identify gaps, assess penalty exposure, and evaluate eligibility for IRS streamlined filing procedures, helping you get into compliance with the least possible cost. Cross-Border Advisory We collaborate with foreign tax professionals and coordinate planning across jurisdictions, delivering integrated guidance for business owners and high net worth individuals operating internationally.

Comprehensive International Tax Services US Individual International Tax Compliance Complete US tax filing for individuals with foreign income, assets, or cross-border activity: US individual income tax returns with foreign income reporting Foreign earned income exclusion and foreign housing exclusion Tax residency determination and exit tax planning Expat tax compliance and treaty position analysis Foreign Financial Asset Reporting Accurate, timely reporting of foreign accounts and assets to avoid severe penalties: FBAR (FinCEN Form 114) preparation and filing FATCA reporting (Form 8938) preparation and filing Compliance gap review and penalty exposure assessment IRS streamlined filing procedures for delinquent filers Foreign Entity & Investment Reporting Complex US reporting for foreign corporations, partnerships, trusts, and passive investments: Form 5471 - foreign corporation reporting Form 8865 - foreign partnership reporting Form 8621 - PFIC reporting and election analysis Form 5472 - foreign-owned US corporation reporting CFC, GILTI, and Subpart F income calculations Foreign Trust & Estate Reporting Navigate cross-border trust, inheritance, and gift reporting requirements with confidence: Form 3520 and Form 3520-A preparation and filing Foreign trust reporting and compliance review Cross-border inheritance and gift tax analysis Treaty coordination for international estate matters Tax Treaty & Double Taxation Planning Reduce your global tax burden through strategic treaty analysis and foreign tax credit planning: Tax treaty analysis and treaty position documentation Foreign tax credit optimization and planning Sourcing and residency analysis under applicable treaties Coordination with foreign tax advisors Inbound US Tax Services US tax compliance and planning for foreign individuals and businesses operating in the United States: US tax return preparation for foreign individuals Foreign-owned US business tax compliance Withholding tax analysis and planning Cross-border investment structure review

From Compliance Review to Coordinated Global Planning Our international tax process begins with a thorough review of your cross-border situation, identifying gaps, quantifying exposure, and building a compliant, tax-efficient position across every jurisdiction. Week 1–2 Assessment We review your foreign income sources, financial accounts, entity ownership, and prior filing history. We identify unreported foreign assets, missed filing obligations, and exposure to penalties, and assess eligibility for penalty relief programs where applicable. Through filing deadlines Compliance & Filing We prepare and file all required international forms, FBAR, FATCA, Form 5471, 8865, 8621, 3520, and your individual or business returns, applying treaty positions, foreign tax credits, and jurisdiction-specific rules to every position. Every filing is accurate, well-documented, and defensible. Year-round Ongoing Partnership We monitor your international tax obligations as your situation evolves, tracking legislative changes across jurisdictions, advising on cross-border transactions, coordinating with foreign tax professionals, and keeping your global tax position optimized year after year. Book Your Free Consultation →

Meet Your International Tax Experts Trusted guidance for global tax compliance, reporting, and cross-border filings. Rick Whipple CEO, CPA   Co-founded WhippleWood in 1981. Brings decades of experience helping Colorado business owners navigate tax complexity, reduce surprises, and plan with confidence. CPA License: CO #5486 · Masters in Tax Law, University of Denver Mitch Clark Partner, Tax Services   Joined in 2012 and focuses on practical business tax guidance. Communicates complex issues clearly and helps clients plan proactively, file accurately, and respond fast. CPA License: CO #9035367 · BS Accounting & Finance, Indiana University Yoonmi Kim Senior Manager, Tax Service   Provides strategic tax leadership with 18+ years of experience, specializing in tax compliance, planning, and consulting for individuals, businesses, trusts, estates, and nonprofit organizations. CPA License: CO #25055 · Colorado Society of CPAs

Free Business Tax Planning Resources Download our tax planning checklist, entity comparison guide, and compliance calendar. Download FREE Templates (Limited Time) ▶
Keywords: business tax planning Denver

### R&D Tax Reporting
URL: https://whipplewood.com/services/rd-tax-credit-reporting/
You don't need a lab coat to qualify for R&D tax credits. WhippleWood helps technology companies, manufacturers, engineers, and startups identify qualifying activities, compute credits accurately, and build the documentation required to protect every dollar claimed.

The Reality of R&D Tax Credit Claim Most businesses that qualify for R&D credits aren't claiming them, and those that are may not be claiming them correctly Credits You Don't Know You're Missing Businesses across technology, manufacturing, and engineering routinely invest in qualifying R&D without realizing it. Without proper identification, significant tax credits go unclaimed year after year. Rules That Keep Changing The OBBB (One Big Beautiful Bill) modified the post TCJA §174 capitalization rules, and many businesses remain uncertain about what the update entails and how it affects their tax treatment of research and experimental expenditures. A Credit Without Proof Is a Liability The IRS scrutinizes R&D credits closely. Without contemporaneous documentation, a properly computed credit can be disallowed on audit, turning a legitimate tax benefit into a liability. Prior Years May Still Be Open Many businesses have unclaimed R&D credits in prior year returns that were never pursued. Qualifying activities that were never identified represent recoverable tax savings, but the window to file amended returns is limited.

How WhippleWood Makes the Difference We deliver a complete R&D solution, not just a calculation. Compliance, planning, and documentation are integrated into every engagement. Proper Identification We identify and classify qualifying R&D activities using industry-specific technical understanding, ensuring nothing eligible is overlooked and nothing ineligible is claimed. Accurate Computation We calculate your §41 federal and state R&D credits with precision, aligned with current tax law and coordinated with your §174 expense treatment for a complete, consistent filing position. Audit-Ready Documentation We build structured support schedules directly tied to the filed return, giving you contemporaneous documentation that meets IRS substantiation standards and holds up under scrutiny. Prior Year Recovery We review prior year returns to identify missed or underclaimed credits and assess whether amended returns can recover tax savings before the statute of limitations closes.

Comprehensive R&D Tax Credit Services R&D Activity Identification & Qualification Determine what qualifies, across every project, process, and product your business develops: Industry-specific review of qualifying research activities Four-part test analysis for each activity Classification of qualifying vs. non-qualifying expenses Identification of qualified research expenses (QREs) including wages, supplies, and contract research §41 Federal & State Credit Computation Accurate credit calculations aligned with current law and optimized across federal and state filings: Federal R&D tax credit calculation (regular and alternative simplified credit methods) State R&D credit identification and computation Credit coordination with §174 expense treatment Multi-year credit carryforward analysis §174 R&D Expense Compliance Navigate and identify the qualification of §174 expenses in accordance with current tax law: §174 expense classification and capitalization analysis Domestic vs. foreign research amortization period planning Coordination between expense treatment and credit computation Prior year §174 compliance review Documentation & Audit-Ready Support Structured substantiation that protects every dollar of credit claimed: Contemporaneous documentation of qualifying activities Employee time and project tracking guidance Support schedules tied directly to the filed tax return IRS audit support and response assistance Prior Year Credit Recovery Identify unclaimed credits from prior years and pursue recovery through amended returns: Prior year R&D activity review and credit assessment Amended return preparation for missed credits Statute of limitations analysis Coordination with current year filing strategy

From Activity Review to Audit-Ready Filing Our R&D process moves from identifying what qualifies to filing a defensible, fully documented credit, so you capture every dollar you're entitled to and can stand behind every position taken. Week 1–2 Discovery & Identification We review your business operations, development activities, and project records to identify qualifying research activities and expenses. We apply the four-part test to each activity, classify qualifying vs. non-qualifying costs, and establish the foundation for an accurate, defensible credit computation. Through filing deadline Computation & Filing We calculate your federal and state R&D credits using the methodology that produces the best result under current law, coordinate the credit with your §174 expense treatment, and prepare all required forms and support schedules. Every position is accurate, consistent, and tied directly to the filed return. Ongoing Documentation & Ongoing Partnership We deliver structured, contemporaneous documentation that meets IRS substantiation standards. For ongoing clients, we establish processes to capture qualifying activity data throughout the year, making each subsequent credit stronger, better documented, and easier to defend. Book Your Free Consultation →

Free Business Tax Planning Resources Download our tax planning checklist, entity comparison guide, and compliance calendar. Download FREE Templates (Limited Time) ▶
Keywords: business tax planning Denver

### IRS/State Authority Representation
URL: https://whipplewood.com/services/irs-state-authority-representation/
When the IRS or a state tax authority contacts you, the stakes are real and the deadlines don't wait. WhippleWood represents individuals and businesses through audits, notices, outstanding liabilities, and filing gaps, handling every communication, deadline, and negotiation on your behalf.

The Reality of IRS & State Tax Enforcement Most taxpayers facing a notice, audit, or outstanding liability don't know where to start, and delay only makes it worse Notices That Are Hard to Decode Most taxpayers who receive an IRS or state notice don't know what it means or how to respond. Missing a deadline or responding incorrectly can quickly turn a routine inquiry into a costly enforcement matter. Balances That May Not Be Right IRS proposed assessments frequently overstate what taxpayers actually owe. Errors in income matching, disallowed deductions, and substitute return filings can inflate a balance that looks final but isn't. Enforcement Escalates Fast Unresolved liabilities can escalate into wage garnishments, bank levies, tax liens, and asset seizure. Once enforcement begins, options narrow quickly, making early professional intervention essential. Filing Gaps Compound Over Time Unfiled returns accumulate IRS substitute assessments, penalties, and interest that compound over time. Resolving filing gaps requires a structured plan that addresses every open period strategically.

How WhippleWood Makes the Difference We take over every interaction with the tax authority, so you can stop worrying about what to say, what to send, and what comes next. Direct Representation We file a formal Power of Attorney and communicate directly with IRS and state agents on your behalf, so you never have to navigate those conversations alone. Assessment Review We thoroughly review every proposed assessment, recalculate liabilities where appropriate, and defend your deductions, credits, and reporting positions with documented technical analysis. Penalty Abatement We identify penalty abatement opportunities, including first-time abatement and reasonable cause relief, and submit formal requests to reduce or eliminate penalties where the facts support it. Clear Action Plan From the first notice review to final resolution, we give you a defined, step-by-step action plan with transparent communication at every stage, so you always know where things stand.

Comprehensive IRS & State Representation Services Notice Review & Response Understand exactly what the IRS or state is asking, and respond correctly, on time: Review of IRS and state notices and correspondence Identification of response deadlines and required actions Transcript analysis (account and wage/income transcripts) Written notice responses and adjustment review Coordination of documentation and supporting records Audit Representation Professional representation through every stage of an IRS or state examination: Power of Attorney filing (Form 2848) Direct communication with revenue agents and examiners Defense of deductions, credits, and tax positions Document management and submission Proposed assessment review and recalculation Outstanding Liability Resolution Navigate IRS and state collection processes with a clear strategy and experienced representation: Analysis of outstanding tax liabilities and collection status Installment agreement negotiation and submission Currently not collectible status requests Offer in compromise evaluation and preparation Lien and levy response and release assistance Penalty Abatement Reduce or eliminate penalties when the facts and history support relief: First-time penalty abatement requests Reasonable cause penalty relief analysis and submission Penalty recalculation and review IRS and state correspondence management Unfiled Return Compliance Get current with a structured plan that addresses every open period and limits exposure: Prior year tax return preparation for individuals and businesses IRS substitute for return (SFR) assessment review and response Filing gap analysis and compliance strategy Coordination with collection resolution where applicable

From First Notice to Final Resolution Our representation process moves in deliberate steps, from understanding exactly what the tax authority is asking to achieving the best available resolution, with clear communication at every stage. Week 1 Assessment & Strategy We review your notices, transcripts, and filing history to understand exactly what the IRS or state is claiming and why. We identify deadlines, quantify the true liability, assess available resolution options, and deliver a clear, step-by-step action plan before any response is submitted. Ongoing through resolution Representation & Response We file a Power of Attorney and take over all direct communication with the tax authority. We respond to document requests, defend your tax positions, submit penalty abatement requests, and negotiate resolution terms — managing every deadline and interaction on your behalf. Ongoing Resolution & Compliance We work through the process to final resolution, whether that means a corrected assessment, an installment agreement, a penalty reduction, or a filed return that closes an open period. Where applicable, we coordinate ongoing compliance to prevent the same issues from recurring. Book Your Free Consultation →

Meet Your Tax Representation Experts Seasoned tax professionals dedicated to resolving your most challenging tax authority matters Rick Whipple CEO, CPA   Co-founded WhippleWood in 1981. Brings decades of experience helping Colorado business owners navigate tax complexity, reduce surprises, and plan with confidence. CPA License: CO #5486 · Masters in Tax Law, University of Denver Mitch Clark Partner, Tax Services   Joined in 2012 and focuses on practical business tax guidance. Communicates complex issues clearly and helps clients plan proactively, file accurately, and respond fast. CPA License: CO #9035367 · BS Accounting & Finance, Indiana University Yoonmi Kim Senior Manager, Tax Service   Provides strategic tax leadership with 18+ years of experience, specializing in tax compliance, planning, and consulting for individuals, businesses, trusts, estates, and nonprofit organizations. CPA License: CO #25055 · Colorado Society of CPAs

Free Business Tax Planning Resources Download our tax planning checklist, entity comparison guide, and compliance calendar. Download FREE Templates (Limited Time) ▶
Keywords: business tax planning Denver

## Industries Served

### Nonprofit organizations
URL: https://whipplewood.com/industries/nonprofit-accounting/
For nonprofit organizations, we handle nonprofit bookkeeping, Form 990s, grant tracking, audits, and nonprofit financial statements—saving 20+ hours a month.

40+ years serving 200+ Colorado nonprofits Same-day grant compliance reporting Board-ready financials in 48 hours

The Reality of Nonprofit Financial Management Running a nonprofit means balancing mission delivery with complex financial requirements Grant and Fund Management Multiple funding sources mean multiple reporting requirements. Each grant has its own restrictions, reporting timelines, and compliance standards that must be tracked accurately. Audit and Compliance Demands Financial statement audits, Form 990 preparation, and state registrations all require meticulous record-keeping and technical knowledge of nonprofit accounting standards. Transparency Requirements Your board, staff, donors, and the public expect clear, accurate financial reporting. Meeting these standards while managing day-to-day operations requires significant time and expertise. Resource Constraints Every dollar spent on administration is a dollar not going to programs. You need efficient, cost-effective financial management that maximizes your impact.

How WhippleWood CPAs Makes the Difference We focus on your mission by handling the complexity. Our approach combines nonprofit expertise with modern efficiency: Right-sized solutions From basic bookkeeping to full CFO services Proactive guidance Anticipate issues before they become problems Technology-driven Automation that saves time and reduces errors Knowledge transfer Your team learns while we work

Comprehensive Nonprofit Accounting Services Core Accounting & Bookkeeping Monthly maintenance and reporting that keeps you audit-ready: Financial statement preparation Reconciliations and transaction coding AP/AR management Board and stakeholder reporting QuickBooks optimization Grant & Fund Management Never miss a restriction or deadline: Fund accounting and restriction tracking Compliance monitoring Budget vs. actual by program Funder-specific reporting Grant audit documentation Outsourced CFO Services Strategic leadership without the full-time cost: Financial planning and cash flow forecasting Board presentation support Internal controls and policy development Strategic planning participation Audit & Tax Support Stay compliant with confidence: Financial statement audits, reviews, and compilations Form 990 preparation and filing UBIT planning State registrations Audit preparation and coordination Technology Solutions Modern tools that work for nonprofits: Software selection and implementation Process automation Custom reporting Staff training and support

From Chaos to Clarity in 30 Days Our nonprofit accounting sprint gives you structure, controls, and partner-level visibility in phases so teams aren’t overwhelmed and leadership gets clean numbers fast. Week 1–2 Discovery We benchmark your current close, map systems, and surface every blocker keeping you from timely board-ready reporting. Week 3–4 Foundation We rebuild the chart of accounts, automate reconciliations, and deploy grant and restriction tracking that withstands audits. Month 2+ Partnership We serve as your steady-state finance team, delivering rolling forecasts, KPI dashboards, and proactive compliance alerts. Book Your Free Consultation →

Meet Your Nonprofit Accounting Experts Experienced CPAs dedicated to supporting nonprofit organizations Rick Whipple CEO, CPA Co-founded WhippleWood CPAs in 1981 with over 40 years of experience. Passionate advocate for small businesses and nonprofits. CPA License: CO #5486 · Masters in Tax Law, University of Denver Randall Joens Director, Client Accounting Services Director of Client Advisory Services. Improves accounting, efficiency, and compliance; turns complex numbers into clear insight. CPA License: CO #0032327 · BS Accounting & BA Economics, CSU Mitch Clark Partner, Tax Services Entrepreneurial CPA who joined in 2012. Focuses on communicating complex tax and business issues clearly to clients. CPA License: CO #9035367 · BS Accounting & Finance, Indiana University

Free Nonprofit Accounting Tools Download our grant tracking template, board report checklist, and 990 preparation guide. Download FREE Templates (Limited Time) ▶

Ready to Focus on What Matters? Let's discuss how WhippleWood CPAs can strengthen your financial management while you strengthen your community. Schedule Your Free Consultation Questions? info@whipplewood.com | 303-989-7600
Keywords: nonprofit accounting

### Auto Dealership
URL: https://whipplewood.com/industries/auto-dealership/
Auto Dealership Accounting Our firm has provided expert outsourced accounting services to auto dealerships since the 1990s. We continually hone our knowledge and understanding of the auto industry, allowing our advisors to offer a variety of accounting and financial management services, some of which include: Systems development, including internal control procedures, accounting and budgetary systems Succession planning for family businesses Receivables management Productivity improvement “Buy Here/Pay Here” tax savings and financial strategies Inventory analysis Enterprise zone credits (potential BIG tax dollar savings) Related finance companies Floor plans CLIENT SATISFACTION “We were freaking out when we found out our long-time accountant was retiring. Who would ever be able to understand our complicated business? After interviewing many CPA firms, we decided on WhippleWood CPAs. We were surprised at how quickly they were able to understand our books and our different, intertwined companies. They have been excellent—always professional and accurate—and they are a pleasure to work with.” — Massa Auto Pawn

### Real Estate And Construction
URL: https://whipplewood.com/industries/real-estate-and-construction/
Construction Accounting Our team is an expert at navigating the risks and complexities of the construction and real estate industries. Doing business in these industries requires managed cash flow, innovative tax strategies and informed decisions when evaluating potential acquisitions and dispositions. We’ll guide you through these challenges—whether you’re a general contractor, subcontractor, architectural firm, developer or engineering firm. Our clients include building owners, property managers, agents, brokers, builders and developers. We maintain a thorough understanding of the highly competitive and demanding concerns of project management, state and local regulations, bonding and surety relationships, tax compliance, job cost estimation and accumulation, and percentage-of-completion accounting. Count on our professionals to help you build a strong business foundation. TEAM APPROACH Our CPAs use a team approach to provide accounting services that meet your company’s goals. We offer services including financial statement audits, tax consulting, internal control studies and evaluation, forensic accounting, due diligence and management succession.

### Energy
URL: https://whipplewood.com/industries/energy/
Energy Accounting Whether drilling for oil or installing solar panels, energy producers face many unique challenges. Our experienced team provides strategies and solutions that can help your business thrive. Our clients span the energy industry, including upstream and midstream oil and gas companies, cleantech, owners of working and royalty interests and environmental remediation companies. We can help you with: Investment tax credits Advisory services for federal, state and local tax incentives Strategic financial planning to optimize cash flow and budgeting Maximize IDCs and depletion Financial modeling WE SUPPORT THE INDUSTRY Our firm actively participates and takes leadership positions in industry organizations. Energy production provides jobs for our family and neighbors, revenue for our roads and schools, and direct and indirect investments that grow the Colorado and national economies. We support the industry because energy—from all its sources—powers our lives.

### Hospitality
URL: https://whipplewood.com/industries/hospitality/
Restaurant Accounting WhippleWood is a preferred vendor for McDonalds franchisees and have partnered with many since the early 1990s. We also serve numerous other food and beverage clients, from Chick-Fil-A franchisees to family owned restaurants. We possess in-depth understanding of the complex tax issues of this unique line of business, as well as the financial reporting requirements of the franchisor. Our team provides business tax consulting expertise to numerous franchisees involved in the process of buying and selling restaurants to position them in maximizing value and minimizing tax problems. We understand the value drivers in this business, and the tax ramifications of buy/sell transactions. CLIENT SATISFACTION “I have used WhippleWood CPAs since 1991. The main reason is not just about the accounting work, but more importantly the relationship with the partners and all of the staff, the high quality of work for the price, the availability for any question anytime, getting up-to-date information and education on a regular basis.” — McDonald’s Franchise Owner

### Franchisees And Franchisors
URL: https://whipplewood.com/industries/franchisees-and-franchisors/
Franchise Accounting You may have a dream of expanding your franchise business or of building a family legacy you can pass forward. That’s the long-term goal. Short-term, you need proactive cash flow monitoring and a clean chart of accounts. You may also need to strategize on tax planning or financing or saving for retirement. We’re here for you. With more than 30 years of experience, beginning with a well-known food and beverage franchise, WhippleWood CPAs has expanded into services for a variety of franchise industries. We understand the goals of the franchisor and how each business model must translate into careful management and growth for franchisees. We also love the relationships with owners who want to live life on their terms and make a difference. With our team’s guidance, you can manage your business well and also clearly understand your finances. On that foundation, you are empowered to succeed in today’s dynamic, franchise business environments while building personal wealth, too. DID YOU KNOW? WhippleWood CPAs is highly recommended among multi-location franchisees within the healthcare and wellness industry, as well as the food and beverage industry. Our work with owners in the same industry reinforces our knowledge of fee structures, cash flow monitoring, tax planning and reporting, assurance and also individual wealth management. You gain this experience throughout the life cycle of your franchise.

### Healthcare & Wellness
URL: https://whipplewood.com/industries/healthcare-and-wellness/
Healthcare Accounting As an expert in the health and wellness industry and as a business owner, you have a lot to manage when operating successful franchise. Partnering with WhippleWood provides a full-service experience to help you operate your business and you’re your professional goals. While we support your business, we always have you and your family in mind. Services we provide to support your business goals include: Tax planning, preparation and reporting Retirement planning Life planning Cash flow monitoring Forecasting Employee retention Assurance services As your trusted advisor, we are available to guide you through complicated business decisions. Focus on what you know and love in the health and wellness industry, and we will take care of the rest.

### Manufacturing & Distribution
URL: https://whipplewood.com/industries/manufacturing-and-distribution/
Manufacturing Accounting We understand that in your search for profitable and stable business lines, you’re dealing with fundamentally different customers, supply chain relationships, product safety issues, health and safety concerns and labor issues. We’ll focus on helping you reform internal operations to gain better controls and increased productivity, so you can meet delivery requirements and cost restrictions while responding quickly to your customers’ needs. PROFESSIONAL ASSISTANCE The challenges facing the Manufacturing & Distribution industry include accounting, tax preparation and operational issues. Our team approach delivers solutions that meet your company’s goals. Our professional assistance includes auditing your financial statements, tax consulting, internal control studies and evaluation, forensic accounting, due diligence, and management succession. WhippleWood advisors are here to help. Learn more about our Outsourced CFO and Coaching Services to better support your Manufacturing & Distribution business decisions.

## Team

### Yoonmi Kim CPA
Title: Senior Manager, Tax Service
URL: https://whipplewood.com/team/yoonmi-kim/

### Kacey Hertel CPA
Title: Manager, Audit Services 
URL: https://whipplewood.com/team/kacey-hertel-cpa/
LinkedIn: https://www.linkedin.com/in/kacey-weberg-hertel-cpa-4a694381/
Education: University of Northern Colorado

### James Countryman CPA
Title: Manager, Client Advisory Services
URL: https://whipplewood.com/team/james-countryman/
Education: University of Iowa — Bachelor of Arts in Economics; University of Phoenix — Master of Business Administration, Accounting emphasis

### Emily Howard
Title: Firm Administrator
URL: https://whipplewood.com/team/emily-howard/
LinkedIn: https://www.linkedin.com/in/emily-howard-68a955131/

### Randall Joens CPA
Title: Director, Client Accounting Services
URL: https://whipplewood.com/team/randall-joens/
LinkedIn: https://www.linkedin.com/in/randall-joens-cpa-2687a344/
Education: Colorado State University

### Qiang Guo CPA
Title: Manager, Tax Services 
URL: https://whipplewood.com/team/qiang-guo-cpa/
LinkedIn: https://www.linkedin.com/in/qiang-guo-cpa-087441111/
Education: University of Denver (DU); Texas A&M University

### Rick Whipple CPA
Title: Managing Partner
URL: https://whipplewood.com/team/rick-whipple/
LinkedIn: https://www.linkedin.com/in/richard-whipple-4785165/
Education: University of Denver (DU); University of Colorado

### Mona Feeley CPA
Title: Partner, Tax Services
URL: https://whipplewood.com/team/mona-feeley/
LinkedIn: https://www.linkedin.com/in/mona-feeley/
Education: University of Colorado

### Mitch Clark CPA
Title: Partner, Tax Services
URL: https://whipplewood.com/team/mitch-clark/
LinkedIn: https://www.linkedin.com/in/mitchell-clark-cpa-32749916/
Education: Indiana University - Bloomington

### Ron Bass CPA
Title: Partner, Audit Services
URL: https://whipplewood.com/team/ron-bass/
LinkedIn: https://www.linkedin.com/in/ronald-s-bass-cpa-cva/
Education: University of Georgia; Georgia State University

### Steve Barkmeier CPA
Title: Director, Tax Services
URL: https://whipplewood.com/team/steve-barkmeier/
LinkedIn: https://www.linkedin.com/in/sbarkmeier/
Education: Regis University

### Chris Job CPA
Title: Manager, Tax Services 
URL: https://whipplewood.com/team/chris-job/
LinkedIn: https://www.linkedin.com/in/christopher-job-cpa-59998740/
Education: University of Denver; Rice University

## Frequently Asked Questions

### What is a fractional CFO?
Source: https://whipplewood.com/services/fractional-cfo/
A fractional CFO is an experienced chief financial officer who works with multiple companies on a part-time, contract, or project basis. They provide the same type of strategic financial leadership as a full-time CFO but only for a “fraction” of the time and cost.

### What does a fractional CFO do day to day?
Source: https://whipplewood.com/services/fractional-cfo/
Depending on your needs, a fractional CFO may oversee forecasting and budgeting, cash flow management, financial reporting, fundraising support, and finance-team leadership. They help turn data into decisions, ensure you have the right information for the board and lenders, and support the CEO in evaluating strategic options.

### When should a business hire a fractional or virtual CFO?
Source: https://whipplewood.com/services/fractional-cfo/
Businesses often add a fractional or virtual CFO when financial complexity outgrows basic bookkeeping—typically as revenue scales, when external capital is needed, or when leadership wants more forward-looking insight without committing to a full-time CFO. External data shows many fractional CFO firms charge monthly retainers or hourly packages, often in the mid-four- to low-five-figure range per month, depending on scope, size, and industry. Full-time CFOs, by contrast, typically command six-figure salaries plus benefits and bonuses.

### What’s the difference between a fractional CFO and an outsourced controller or accountant?
Source: https://whipplewood.com/services/fractional-cfo/
An outsourced accountant or controller focuses on accurate records, reconciliations, and historical reporting. A fractional CFO focuses on financial strategy, forecasting, capital structure, and advising leadership on major decisions. Many clients use both: bookkeeping or controllership to keep the numbers accurate, and a fractional CFO to chart the course.

### Can fractional CFO services be fully virtual?
Source: https://whipplewood.com/services/fractional-cfo/
Yes. Many virtual CFO services are delivered entirely online using secure cloud accounting systems, video calls, and shared dashboards. This allows growing companies to access top-tier CFO talent regardless of location.

### How do you arrive at a valuation number, and will it hold up?
Source: https://whipplewood.com/services/business-valuations/
We use recognized valuation approaches: income, market, and asset-based, selecting the method or combination that fits your business type and the purpose of the engagement. Our team holds the CVA credential through NACVA and is a member of the AICPA Forensic and Valuation Services Section. Our reports are documented to stand up to IRS review, legal challenge, and buyer scrutiny.

### Do I need a formal valuation even if I'm not planning to sell?
Source: https://whipplewood.com/services/business-valuations/
Many of our clients aren't planning to sell at all. A formal qualified appraisal is required for gift and estate tax filings, divorce proceedings, shareholder buyouts, and lender underwriting, regardless of whether a sale is involved. If any of those situations apply, an informal estimate won't satisfy the requirement.

### What's the difference between a qualified appraisal and what a broker might provide?
Source: https://whipplewood.com/services/business-valuations/
A broker's opinion of value is typically an informal estimate based on comparable sales, useful for listing a business, but not sufficient for IRS filings, legal proceedings, or lender requirements. A qualified appraisal follows IRS-recognized methodology, is prepared by a credentialed appraiser, and meets the documentation standards required in formal proceedings.

### Can you help if my valuation is needed for a legal dispute or divorce?
Source: https://whipplewood.com/services/business-valuations/
Yes. We provide independent valuations and litigation support for shareholder disputes, partner buyouts, and divorce proceedings. Our reports are prepared to court-admissible standards, and our team is available to serve as expert witnesses when required.

### How long does a business valuation take?
Source: https://whipplewood.com/services/business-valuations/
Most engagements are completed within a few weeks of receiving complete financial information. The timeline depends on the complexity of the business and the purpose of the valuation.

### Is it too early to get a valuation if we're still a few years away from selling?
Source: https://whipplewood.com/services/business-valuations/
It's never too early, and earlier is usually better. A valuation now tells you what's driving your value and what can be improved before you go to market. Many of the factors that affect your final number, earnings consistency, customer concentration, leadership depth, take time to address, and knowing them in advance gives you the runway to act on them.

### What types of businesses do you serve?
Source: https://whipplewood.com/services/business-tax-planning-compliance/
We partner with businesses in Colorado and across the United States, including family-owned businesses and entities such as S-corporations, C-corporations, and partnerships. Our team provides proactive tax planning and compliance support tailored to each entity’s unique filing requirements and tax obligations.

### How does tax planning differ from tax preparation?
Source: https://whipplewood.com/services/business-tax-planning-compliance/
Tax preparation focuses on accurate filings and meeting federal and state requirements. Tax planning is proactive, year-round guidance that helps identify deductions, credits, and strategies to reduce total tax burden while staying compliant.

### Can you help with entity selection?
Source: https://whipplewood.com/services/business-tax-planning-compliance/
Yes. We assist with choice-of-entity considerations and ongoing evaluation as tax laws and business needs change, so your structure supports both compliance and planning goals.

### Do you handle IRS and state tax issues?
Source: https://whipplewood.com/services/business-tax-planning-compliance/
Yes. We provide IRS and state tax authority representation for your business and help address tax notices and other tax issues, while keeping filings and compliance aligned with applicable requirements.

### What about business acquisitions and sales?
Source: https://whipplewood.com/services/business-tax-planning-compliance/
We support acquisitions and sales of businesses with tax planning considerations and tax due diligence, helping evaluate tax exposure and compliance requirements tied to the transaction.

### How do 1031 exchanges work?
Source: https://whipplewood.com/services/business-tax-planning-compliance/
A 1031 exchange is a tax-deferral strategy for qualifying like-kind real estate exchanges when requirements and timelines are met. We help clients evaluate whether a 1031 exchange fits the transaction and support the planning and compliance steps.

### We just formed a nonprofit, what do we need to do to become tax-exempt?
Source: https://whipplewood.com/services/nonprofit-tax-services/
To receive federal tax-exempt status under Section 501(c)(3), most organizations must file IRS Form 1023 (or Form 1023-EZ for qualifying smaller organizations) and receive an IRS determination letter. The application requires a clear statement of purpose, organizational documents, and financial information. We prepare and file the application, respond to any IRS requests for additional information, and guide you through the process from formation to approved exemption.

### What is the difference between a public charity and a private foundation, and does it affect our filing?
Source: https://whipplewood.com/services/nonprofit-tax-services/
Yes, significantly. Public charities receive broad public support and file Form 990, 990-EZ, or 990-N. Private foundations are typically funded by a single source and face stricter rules, including a mandatory 5% minimum distribution requirement, a 1.39% excise tax on net investment income, and prohibitions on self-dealing.

### What happens if our nonprofit earns revenue from activities unrelated to our exempt purpose?
Source: https://whipplewood.com/services/nonprofit-tax-services/
It depends on the nature and scale of the activity. Revenue from activities regularly carried on that are not substantially related to your exempt purpose is generally subject to unrelated business income tax (UBIT) and must be reported on Form 990-T. We identify which revenue streams may trigger UBIT, advise on structuring options, and prepare all required filings to keep you compliant and minimize your exposure.

### What happens if we miss the Form 990 filing deadline?
Source: https://whipplewood.com/services/nonprofit-tax-services/
Missing the deadline can result in automatic penalties of $20 to $100 per day depending on the organization's size. More critically, an organization that fails to file for three consecutive years automatically loses its tax-exempt status, a revocation that is public and can be difficult to reverse. We manage your filing calendar, prepare returns well in advance of deadlines, and handle any extension requests to ensure you never miss a required filing.

### What are self-dealing rules, and why do they matter for private foundations?
Source: https://whipplewood.com/services/nonprofit-tax-services/
Self-dealing rules prohibit certain financial transactions between a private foundation and its disqualified persons, typically founders, officers, directors, substantial contributors, and their family members. Violations trigger excise taxes on both the foundation and the individual involved, and repeated violations can result in termination of the foundation's exempt status. We review your transactions and governance structure to identify and prevent self-dealing exposure before it becomes a problem.

### How do you help us maintain our public charity status over time?
Source: https://whipplewood.com/services/nonprofit-tax-services/
Public charity classification depends on passing the public support test, a calculation showing that a sufficient portion of your revenue comes from broad public sources rather than a small number of donors. We calculate and monitor your public support percentage each year, alert you when trends indicate risk, and advise on fundraising or revenue strategies that can protect your classification well before the threshold becomes a concern.

### How is this different from just having someone prepare my tax return?
Source: https://whipplewood.com/services/individual-tax-planning-compliance/
Tax preparation looks backward, it records what happened. Tax planning looks forward. We work with you throughout the year to time income and deductions, model the impact of major decisions, and identify strategies before the filing deadline.

### Can you handle income from multiple sources, a business, investments, and a W-2?
Source: https://whipplewood.com/services/individual-tax-planning-compliance/
Yes. This is exactly the kind of situation we specialize in. We bring together your business income, pass-through K-1s, investment activity, and W-2 compensation into a single, coordinated tax picture.

### How does equity compensation affect my taxes?
Source: https://whipplewood.com/services/individual-tax-planning-compliance/
Equity compensation, stock options, RSUs, or ESPP shares, can create significant and often unexpected tax consequences depending on timing, exercise strategy, and the type of award. We model the tax impact of different scenarios, advise on the optimal timing of exercises and sales, and ensure the income is reported correctly to avoid overpaying or triggering penalties.

### Do I need to file tax returns in every state where I earn income?
Source: https://whipplewood.com/services/individual-tax-planning-compliance/
Multi-state filing obligations depend on where income is sourced, where you work, and in some cases where you were domiciled during the year. Many high-income individuals are unaware of their filing obligations in states where they don't live. We assess your specific situation, determine where returns are required, and prepare all necessary state filings to keep you compliant and minimize your overall state tax burden.

### How do you coordinate with my financial advisor or attorney?
Source: https://whipplewood.com/services/individual-tax-planning-compliance/
We take an integrated advisory approach, working directly with your financial advisor, wealth manager, and any legal counsel involved to ensure your tax strategy aligns with your investment plan and estate documents. Rather than giving siloed advice, we serve as the tax and compliance anchor in your broader advisory team, so every decision is made with the full picture in view.

### What triggers should make me think I need a more proactive tax advisor?
Source: https://whipplewood.com/services/individual-tax-planning-compliance/
Several situations signal that proactive planning is needed: a significant income increase, a business sale or liquidity event, receiving equity compensation, acquiring or selling real estate, a major life event like marriage, divorce, or inheritance, or simply feeling like your current preparer only contacts you at tax time. If your financial life is growing in complexity, a reactive approach is likely leaving money on the table.

### Do I need to file an estate tax return?
Source: https://whipplewood.com/services/estate-gift-trust-tax/
A federal estate tax return (Form 706) is required when a decedent's gross estate exceeds the federal exclusion threshold. Some states have separate, lower thresholds that may also trigger a filing. Our team determines whether a return is required, identifies available elections, and ensures everything is filed accurately and on time.

### Does making a large gift trigger a tax filing requirement?
Source: https://whipplewood.com/services/estate-gift-trust-tax/
A federal gift tax return (Form 709) is required when gifts to any one individual exceed the annual exclusion amount, or when you make gifts of future interests regardless of amount. Filing doesn't necessarily mean you owe tax, it may simply report use of your lifetime exemption. We advise on your reporting obligations and help you document gifts properly.

### How does the lifetime exemption affect my estate plan?
Source: https://whipplewood.com/services/estate-gift-trust-tax/
The federal lifetime exemption is a unified credit that applies to both taxable gifts made during your lifetime and your taxable estate at death, meaning large gifts today reduce what's available at death. We track your cumulative exemption usage and alert you to legislative changes before they affect your plan.

### What are my responsibilities as a trustee or executor?
Source: https://whipplewood.com/services/estate-gift-trust-tax/
Trustees and executors have fiduciary duties to beneficiaries and legal obligations to tax authorities. These include filing required income and estate tax returns, managing distributions in compliance with trust documents, and maintaining proper records. WhippleWood guides trustees and executors through every compliance requirement to minimize exposure to personal liability.

### How do you work with estate attorneys and financial advisors?
Source: https://whipplewood.com/services/estate-gift-trust-tax/
We take a coordinated advisory approach, collaborating directly with your estate planning attorney, financial advisor, and any valuation experts involved. This ensures the tax strategy we implement aligns with your legal documents, investment structures, and overall financial plan. We serve as the tax and compliance anchor in your advisory team.

### Can you help with business succession tax planning?
Source: https://whipplewood.com/services/estate-gift-trust-tax/
Yes. Transferring a closely held business involves complex valuation questions, gifting strategies, and estate planning coordination. We provide tax planning support for business owners preparing for ownership transitions, whether through family gifting, buy-sell agreements, or trust structures, to minimize transfer tax exposure and protect the business value you've built.

### How do we know if selling in new states creates a tax filing obligation?
Source: https://whipplewood.com/services/state-local-tax/
Selling into a new state, whether through physical presence, employees, or revenue thresholds, can create nexus and trigger tax filing obligations. The rules differ significantly between income tax, franchise tax, and sales tax nexus, and every state sets its own thresholds. We conduct a nexus review to identify exactly where obligations exist, quantify any back-tax exposure, and recommend the most efficient path to compliance, including voluntary disclosure where appropriate.

### What are the tax implications of hiring remote employees across multiple states?
Source: https://whipplewood.com/services/state-local-tax/
Remote employees can create nexus in states where your business previously had no filing obligation, triggering income tax, payroll tax, and in some cases sales tax requirements. Each state treats remote worker nexus differently, and the rules have continued to evolve. We assess your specific situation, determine which states require action, and help you get into compliance before obligations accumulate further.

### Do I owe taxes in both states if I moved but still earn income from my former state?
Source: https://whipplewood.com/services/state-local-tax/
Potentially, yes. Income sourced from a state, through a business, real estate, or employment, is often taxable in that state even after you leave. Your new state may also tax all of your income as a resident.

### What is a voluntary disclosure program, and should we consider it?
Source: https://whipplewood.com/services/state-local-tax/
Voluntary disclosure programs allow businesses and individuals to come forward proactively to resolve unfiled state tax obligations, typically in exchange for a limited lookback period and penalty relief. They are available in most states and can significantly reduce the cost of getting into compliance compared to waiting for a state to identify you. We evaluate your exposure, determine which states offer the most favorable terms, and manage the entire voluntary disclosure process on your behalf.

### How does apportionment work, and why does it matter?
Source: https://whipplewood.com/services/state-local-tax/
When a business operates in multiple states, each state uses an apportionment formula, typically based on sales, payroll, and property, to determine what share of income is taxable in that state. The formulas vary by state, and some states use single-factor sales apportionment while others use multi-factor approaches. Applying the wrong methodology or missing a state-specific rule can lead to overpayment in one jurisdiction or underpayment penalties in another.

### What should I do if I receive a notice or audit from a state tax authority?
Source: https://whipplewood.com/services/state-local-tax/
Don't respond without representation. State tax notices range from routine requests for information to formal audit initiations, and the response you give early in the process can significantly affect the outcome. We manage state audit and notice responses on your behalf, communicate directly with the tax authority, gather and organize required documentation, and work to achieve the best possible resolution while keeping you informed throughout.

### Do I need to report my foreign bank accounts to the IRS?
Source: https://whipplewood.com/services/international-tax/
es. US persons, citizens, green card holders, and certain residents, are required to file an FBAR (FinCEN Form 114) if the aggregate value of their foreign financial accounts exceeds $10,000 at any point during the year. Separately, FATCA requires reporting foreign financial assets above certain thresholds on Form 8938.

### Is it too late to fix years of unfiled FBARs and unreported foreign accounts?
Source: https://whipplewood.com/services/international-tax/
It is not too late, and coming forward proactively is almost always better than waiting for the IRS to discover the gap. The IRS offers streamlined filing procedures, both domestic and offshore, that allow eligible taxpayers to file delinquent returns and FBARs with significantly reduced or eliminated penalties. We review your full filing history, assess which program you qualify for, and manage the entire process to bring you into compliance with the least possible exposure.

### Do foreign mutual funds or investments create US tax issues?
Source: https://whipplewood.com/services/international-tax/
Potentially significant ones. Foreign mutual funds and many offshore investment vehicles are classified as Passive Foreign Investment Companies (PFICs) under US tax law. PFIC ownership triggers complex annual reporting on Form 8621 and can result in punitive tax treatment on gains and distributions unless specific elections are made.

### Do US citizens living abroad still have to file US tax returns?
Source: https://whipplewood.com/services/international-tax/
Yes. The United States taxes its citizens on worldwide income regardless of where they live. As a US expat, you are required to file a US tax return each year, report foreign financial accounts, and comply with FATCA reporting obligations.

### What are the US filing requirements for owning a foreign corporation or subsidiary?
Source: https://whipplewood.com/services/international-tax/
US persons who own 10% or more of a foreign corporation are generally required to file Form 5471 annually, one of the most complex information returns in the US tax code. If the foreign corporation qualifies as a Controlled Foreign Corporation (CFC), additional rules apply, including potential income inclusions under Subpart F and GILTI. We identify your filing obligations, prepare all required forms, and calculate any income inclusions correctly, ensuring your foreign operations are properly reported and your US tax position is defensible.

### How do you work with my foreign tax advisors or attorneys?
Source: https://whipplewood.com/services/international-tax/
We take a coordinated advisory approach, collaborating directly with your foreign tax professionals, legal counsel, and financial advisors in other jurisdictions. International tax planning only works when the US and foreign sides are aligned. We serve as your US tax anchor, sharing information across jurisdictions, ensuring treaty positions are consistently applied, and making sure no planning opportunity or compliance obligation falls between the cracks.

### Do software companies qualify for R&D tax credits?
Source: https://whipplewood.com/services/rd-tax-credit-reporting/
Yes, and this is one of the most common misconceptions we encounter. The R&D tax credit applies to a much broader range of activities than traditional laboratory research. Software development, process improvement, new product design, prototype development, and engineering work can all qualify, provided the activities meet the four-part test: they must be technological in nature, intended to develop or improve a product or process, involve a process of experimentation, and carry some level of technical uncertainty.

### What changed with the §174 rules, and how does it affect our taxes?
Source: https://whipplewood.com/services/rd-tax-credit-reporting/
Under the OBBB (One Big Beautiful Bill) legislation, Congress eliminated the mandatory capitalization requirement for research and experimental (R&D) costs under §174. As a result, taxpayers can deduct domestic R&D expenditures in the year paid or incurred, rather than capitalizing and amortizing them We analyze the interaction between your §174 expense treatment and your §41 credit computation to ensure your overall position is accurate and as tax-efficient as possible.

### How do you document R&D credits in a way that holds up under IRS scrutiny?
Source: https://whipplewood.com/services/rd-tax-credit-reporting/
Documentation is where many R&D claims fail. The IRS requires contemporaneous evidence that qualifying activities were actually conducted, including project descriptions, employee time allocations, technical records, and records of the experimentation process. We build structured support schedules tied directly to the filed return, document the four-part test analysis for each activity, and establish recordkeeping practices that make future years easier to support.

### Can we claim R&D credits for prior years we never filed them?
Source: https://whipplewood.com/services/rd-tax-credit-reporting/
In many cases, yes. If your business conducted qualifying R&D activities in prior years that were never claimed, you may be able to recover those credits through amended returns, generally within a three-year window from the original filing deadline. We review your prior year activities, assess the credit opportunity, and prepare amended returns where the economics justify it.

### What do we need to do differently now that we've started claiming R&D credits?
Source: https://whipplewood.com/services/rd-tax-credit-reporting/
Ongoing R&D credit claims require continued attention, particularly as your activities, workforce, and expenses change year to year. We establish a process to capture qualifying activity data throughout the year rather than reconstructing it at filing time, which produces a more accurate credit and stronger documentation. We also monitor changes in federal and state credit rules, §174 developments, and IRS guidance that could affect your computation or documentation requirements.

### How does a state R&D credit work alongside the federal credit?
Source: https://whipplewood.com/services/rd-tax-credit-reporting/
Many states offer their own R&D tax credits, and in some cases they can be claimed in addition to the federal credit, significantly increasing the total benefit. State credits vary widely in their qualification standards, computation methods, and carryforward rules. We identify all applicable state credits, calculate them using the correct methodology for each jurisdiction, and coordinate them with your federal credit and §174 treatment to deliver the most complete R&D tax benefit available to your business.

### What should I do if I receive an IRS notice I don't understand?
Source: https://whipplewood.com/services/irs-state-authority-representation/
The first step is to not ignore it. IRS notices are time-sensitive, most require a response within 30 to 60 days, and some trigger automatic consequences if left unanswered. The notice type determines what's actually being requested, whether it's a simple correction, an information request, or the beginning of an examination.

### How do I challenge an IRS balance I believe is incorrect?
Source: https://whipplewood.com/services/irs-state-authority-representation/
Proposed IRS balances are frequently incorrect. We pull your IRS account and wage/income transcripts, reconstruct what the IRS has on file, and compare it against your actual return history and supporting records. Errors in income matching, unreported credits, or substitute return assessments that don't account for deductions you're entitled to can all inflate what you appear to owe.

### What happens if I voluntarily come forward after years of unfiled returns?
Source: https://whipplewood.com/services/irs-state-authority-representation/
Coming forward voluntarily is almost always better than waiting for the IRS to act. When returns go unfiled, the IRS can file substitute returns on your behalf, which typically result in higher assessments because they don't account for deductions or credits you're entitled to claim. We review each open year, prepare the returns using your actual income and deductions, and develop a filing strategy that gets you current while minimizing your overall exposure.

### What are my options if I can't pay my full tax balance?
Source: https://whipplewood.com/services/irs-state-authority-representation/
The IRS and most state tax authorities offer several resolution options for taxpayers who can't pay in full. These include installment agreements that spread payments over time, currently not collectible status for taxpayers who genuinely cannot pay, and in some cases an offer in compromise that settles the liability for less than the full amount owed. The right option depends on your specific financial situation, the type and age of the liability, and your compliance history.

### How quickly can you help if the IRS is threatening a levy on my accounts or wages?
Source: https://whipplewood.com/services/irs-state-authority-representation/
Levy situations are urgent and require immediate action. Once a Final Notice of Intent to Levy has been issued, you typically have 30 days to request a Collection Due Process hearing, which suspends enforcement while the matter is reviewed. We assess your situation immediately, determine what enforcement actions are pending, and take steps to protect your assets while pursuing a structured resolution.

### What does it mean for you to represent me, and how does that work?
Source: https://whipplewood.com/services/irs-state-authority-representation/
When we represent you, we file IRS Form 2848 (Power of Attorney), which authorizes us to communicate directly with the IRS. For state matters, a separate state specific Power of Attorney form may be required. Once filed, the taxing authority will contact us, not you.

### What types of nonprofits do you serve?
Source: https://whipplewood.com/industries/nonprofit-accounting/
We serve a diverse range of 501(c)(3) organizations throughout Colorado, from small community nonprofits to large charitable foundations. Our clients include religious organizations, educational institutions, healthcare nonprofits, arts and cultural organizations, environmental groups, social service agencies, and professional associations. Whether you're a startup nonprofit in your first year or an established organization with multi-million-dollar budgets, we understand the unique compliance requirements for each sector.

### Can you help prepare for our audit?
Source: https://whipplewood.com/industries/nonprofit-accounting/
Absolutely. Our nonprofit audit preparation services are designed to make your annual audit seamless and stress-free. We begin audit prep work months in advance, ensuring your books are audit-ready with properly documented transactions, complete reconciliations, and organized supporting documentation.

### Do you work with our existing software?
Source: https://whipplewood.com/industries/nonprofit-accounting/
Yes, we work with virtually all nonprofit accounting software platforms and can optimize your existing systems or recommend better solutions. Our team includes QuickBooks ProAdvisors and specialists in nonprofit-specific platforms like Blackbaud Financial Edge, MIP Fund Accounting, Sage Intacct, and NetSuite for Nonprofits. We also work with cloud-based solutions including Aplos, QuickBooks Nonprofit, Xero, and various donor management systems like DonorPerfect, Raiser's Edge, and Salesforce Nonprofit Cloud.

### How do you ensure grant compliance?
Source: https://whipplewood.com/industries/nonprofit-accounting/
Grant compliance is critical for nonprofit sustainability, and we implement comprehensive systems to ensure you meet every requirement. We establish detailed tracking for each grant including budget-to-actual monitoring, expenditure classification, and restriction compliance. Our team creates customized chart of accounts with grant-specific coding to separate federal, state, foundation, and corporate funding sources.

### What if we need help beyond basic accounting?
Source: https://whipplewood.com/industries/nonprofit-accounting/
Our nonprofit services scale seamlessly from basic bookkeeping to comprehensive CFO-level support, adapting to your organization's growth and changing needs. Beyond core accounting, we provide strategic financial planning including multi-year budget development, cash flow forecasting, and scenario planning for program expansion or contraction. Our outsourced CFO services include board presentation development, executive dashboards, and strategic planning support for major initiatives like capital campaigns, mergers, or new program launches.

### How do you handle staff transitions?
Source: https://whipplewood.com/industries/nonprofit-accounting/
Staff turnover is a reality for most nonprofits, but it doesn't have to disrupt your financial operations. We create comprehensive documentation for all accounting processes, including step-by-step procedures manuals, chart of accounts guides, and monthly close checklists that ensure continuity when staff members leave. Our team maintains detailed records of all transactions, vendor relationships, and financial systems so institutional knowledge isn't lost during transitions.

## Recent Insights

### The HSA as a Retirement Account: How It Compares to Your 401(k) for Medical Costs
URL: https://whipplewood.com/insights/hsas-for-retirement-planning/
Date: 2026-04-06
How the HSA compares to a 401(k) and Roth IRA for retirement medical expenses. Covers contribution limits, investment strategy, and the Medicare timing trap.

### Year-End Tax Planning for Small Business Owners
URL: https://whipplewood.com/insights/year-end-tax-planning-small-business/
Date: 2026-03-31
Year-end tax planning strategies for small business owners, including the permanent QBI deduction, bonus depreciation, retirement plan contributions, and...

### The R&D Tax Credit: What Counts, What Doesn't, and How to Claim It
URL: https://whipplewood.com/insights/rd-tax-credit-how-to-claim-it/
Date: 2026-03-23
Which activities qualify for the R&D tax credit, which costs count, how to calculate the credit, and two 2026 deadlines Colorado business owners should know...

### The 13-Week Cash Flow Forecast: A Step-by-Step Guide for Business Owners
URL: https://whipplewood.com/insights/13-week-cash-flow-forecast-guide/
Date: 2026-03-23
How to build a 13-week cash flow forecast step by step. Covers common planning mistakes, inflow and outflow projections, and weekly variance tracking.

### What the New RMD Proposals Change About Your Retirement Withdrawals
URL: https://whipplewood.com/insights/new-rmd-proposals-retirement-withdrawals/
Date: 2026-03-16
The IRS proposed RMD regulations address the 1959 birth year question, surviving spouse options, Roth 401(k) rules, and partial annuitization. Here is what...

### Virtual CFO Services: When Your Business Needs More Than a Bookkeeper
URL: https://whipplewood.com/insights/virtual-cfo-services-business-needs-more-than-a-bookkeeper/
Date: 2026-03-03
Virtual CFO services provide strategic financial leadership without the cost of a full-time hire. Learn when your business needs more than a bookkeeper and...

### Monthly Close Checklist: A Practical Guide for Small Finance Teams
URL: https://whipplewood.com/insights/monthly-close-checklist-for-small-business/
Date: 2026-02-26
Practical monthly close checklist for small businesses. Build a consistent 5–10 day close with clear cutoffs, reconciliations, reviews, and documentation,...

### Charitable Deduction Changes for 2026: What Donors Need to Know
URL: https://whipplewood.com/insights/charitable-deduction-changes/
Date: 2026-02-20
New 2026 rules change charitable deductions: non-itemizers can now deduct up to $1,000/$2,000, while itemizers face a 0.5% AGI floor. Learn what changed and...

### 2026 Meals & Entertainment Deduction Changes: What Employers Need to Know
URL: https://whipplewood.com/insights/meals-entertainment-deduction-changes/
Date: 2026-02-20
Effective January 1, 2026, employer convenience meals are no longer deductible. Learn which meal expenses remain 50% or 100% deductible and what steps to...

### IRS Is Phasing Out Paper Refund Checks: What to Do
URL: https://whipplewood.com/insights/irs-paper-refund-checks/
Date: 2026-02-05
The IRS is phasing out paper refund checks starting Sept. 30, 2025. Learn what's changing, options for unbanked taxpayers, and steps to avoid delays.

### Trump Accounts: IRS Notice & Form 4547 Guide
URL: https://whipplewood.com/insights/trump-accounts-guide/
Date: 2025-12-12
Learn how parents and employers use Form 4547 to open Trump Accounts for children and secure the $1,000 federal pilot deposit.

### QuickBooks for Nonprofits: A Beginner's Guide
URL: https://whipplewood.com/insights/quickbooks-for-nonprofits/
Date: 2025-12-08
Discover how QuickBooks for nonprofits manages fund accounting, donor tracking, and cash flow. Get setup tips, pricing insights, and actionable strategies...

### Essential Nonprofit Financial Statements
URL: https://whipplewood.com/insights/nonprofit-financial-statements-essentials/
Date: 2025-12-08
Discover key nonprofit financial statements, practical compliance tips, and strategies to boost transparency and donor confidence.

### Essential Nonprofit Bookkeeping Guide
URL: https://whipplewood.com/insights/nonprofit-bookkeeping-guide/
Date: 2025-12-08
Learn bookkeeping for nonprofits: fund accounting, financial statements, restricted funds, and best practices to protect your organization’s financial health.

### Nonprofit Organization Accounting Essentials
URL: https://whipplewood.com/insights/nonprofit-organization-accounting/
Date: 2025-12-07
Learn the fundamentals of nonprofit organization accounting, from fund accounting to IRS Form 990, with actionable tips and recommended software for nonprofits.

### Accounting for Nonprofits: Beginner’s Guide to Fund Accounting
URL: https://whipplewood.com/insights/accounting-for-nonprofits-guide/
Date: 2025-12-07
Learn nonprofit accounting basics: fund accounting, key financial statements and restricted funds to protect your tax-exempt status.

### Top Nonprofit Accounting Services Providers for 2025
URL: https://whipplewood.com/insights/nonprofit-accounting-services/
Date: 2025-12-05
Compare 2025 nonprofit accounting and bookkeeping services. Review key features, pricing tips, and choose the right provider.

### Nonprofit Accounting 2025: GAAP & Fund Accounting
URL: https://whipplewood.com/insights/nonprofit-accounting/
Date: 2025-12-03
Master nonprofit accounting with insights on fund accounting, donation management, GAAP compliance, budgeting strategies, and top software comparisons.

### IRS Tip and Overtime Deduction Guide for Tax Changes 2025
URL: https://whipplewood.com/insights/irs-tip-overtime-deduction-2025/
Date: 2025-11-27
Learn how the IRS’s 2025 guidance lets employees calculate deductible tips and overtime using W-2 boxes, Forms 4070 and 4137, and employer statements.

### New Guidance Issued on OBBBA No Tax on Tips Provision
URL: https://whipplewood.com/insights/new-guidance-issued-on-obbba-no-tax-on-tips-provision/
Date: 2025-09-22
Find out more about the recently issued no tax on tips regulation update including a highlight on the types of eligible tips.

### New Guidance Issued on OBBBA No Tax on Tips Provision
URL: https://whipplewood.com/insights/obbba-no-tax-on-tips-provision/
Date: 2025-09-19
Find out the key details of the non tax on tips deduction including eligible roles from the beverage and food services company - Denver

### 2026 Tax Projections: Brackets, Rates & Key Changes
URL: https://whipplewood.com/insights/key-tax-projections-for-2026/
Date: 2025-09-16
Explore key 2026 tax changes in brackets, rates & deductions. Prepare your tax strategy now with WhippleWood’ comprehensive tax guide.

### What the OBBBA Means for Restaurants
URL: https://whipplewood.com/insights/obbba-impact-restaurants/
Date: 2025-08-11
out more about the impact of the One Big Beautiful Bill Act's impact on restaurants including the new tip deduction option

### How the One Big Beautiful Bill Impacts Construction Businesses
URL: https://whipplewood.com/insights/how-the-one-big-beautiful-bill-impacts-construction-businesses/
Date: 2025-08-07
Learn about the key impact the One Big Beautiful Act (OBBBA) will have on the construction industry including Section 179D.

### Credit for Contributions to Qualified Scholarship Organizations - One Big Beautiful Bill
URL: https://whipplewood.com/insights/credit-contributions-scholarships-obbb/
Date: 2025-08-05
Find out more about the credit contributions to qualified scholarships created by the One Big Beautiful Bill (OBBB) - Denver

### Information Reporting Requirements Under The One Big Beautiful Bill
URL: https://whipplewood.com/insights/information-reporting-obbb/
Date: 2025-07-31
Find out more about the information reporting changes called for under the One Big Beautiful Bill Act including tip income deductions.

### 163(j) Interest Limitations Under The One Big Beautiful Bill
URL: https://whipplewood.com/insights/163j-interest-limitations-obbb/
Date: 2025-07-28
Find out more about the recent changes to the 163(j) Interest Limitations made in the One Big Beautiful Bill Act including calculation changes

### Qualified Opportunity Zones Under The One Big Beautiful Bill
URL: https://whipplewood.com/insights/qualified-opportunity-zones-under-the-one-big-beautiful-bill/
Date: 2025-07-24
Find out more about the recently enacted changes to Opportunity Zones ushered in through the One Big Beautiful Bill Act - Denver .

### State Income Tax Deduction Under The One Big Beautiful Bill
URL: https://whipplewood.com/insights/state-income-tax-deduction-under-the-one-big-beautiful-bill/
Date: 2025-07-23
Find out more about the recent changes made to the state income tax deduction under the One Big Beautiful Bill Act - Denver .

### Excess Business Losses Under The One Big Beautiful Bill
URL: https://whipplewood.com/insights/excess-business-losses-obbb/
Date: 2025-07-22
Learn how the One Big Beautiful Bill affects excess business losses. Get tax planning strategies from WhippleWood for business owners.

## Contact

Phone: 303-989-7600
Email: info@whipplewood.com
Address: 11852 Shaffer Drive, Building B, Littleton, CO 80127
Hours: Monday-Friday 8:00 AM - 5:00 PM
Contact page: https://whipplewood.com/contact/