Delap LLP

06/23/2025

Compilation, review, or audit — what’s right for your business?

If your bank, investor, or board is asking for more assurance, it may be time to move beyond a basic financial statement.

In our latest blog post, we break down the differences between compilations, reviews, and audits and when each one makes sense, especially if you're growing, raising capital, or planning a business transition.

Read the full post here:

Confused about which financial statement service is right for your business? Learn the difference between a compilation, review, or audit.

05/27/2025

Big tax changes are coming to Washington state. Is your business ready?

On May 20, Washington Gov. Bob Ferguson signed a package of new tax laws — including significant changes to B&O tax rates, capital gains tax, and the expansion of retail sales tax to services like IT support, advertising, and custom web development.

Our blog breaks down what you need to know and how to plan ahead:
👉 https://bit.ly/4jl0exq

Have questions? Our SALT team is ready to help.

Washington state passed major 2025 tax law changes affecting B&O, capital gains, estate tax, and sales tax. Here's what you need to know.

05/16/2024

🚨 Important Steps to Take if You Receive an IRS Identity Theft Letter 🚨

Identity theft is a growing concern, especially during tax season. If someone steals your Social Security number, they can use it to file a fraudulent tax return. The IRS scans tax returns for signs of potential fraud and sends a letter if something is flagged as suspicious.

Have you received an IRS identity theft letter? It's crucial to respond promptly to ensure your tax return gets processed. Our latest blog post explains the key IRS letters to watch for and what you need to do. 📄🔍

If you receive a letter from the IRS about identity theft, it's crucial to respond promptly to ensure your tax return gets processed.

05/15/2024

🏠📉 As a rental property owner, is the rental real estate market impacting your bottom line? Don't let operating losses get you down! Our latest blog post explores how strategic tax planning can turn your setbacks into advantages using passive loss rules. Learn how to offset passive income, embrace carryovers, and maximize your tax savings. Read more:

Explore passive loss rules and how time spent on tax planning can turn a setback into an advantage for your rental property portfolio.

05/08/2024

🌟 Are you thinking of switching your business from cash to accrual accounting?

Switching accounting methods is a big step that comes with many strategic advantages. Our latest guide explores why this might be the right move for your business, what benefits it brings, and how to navigate the challenges.

Check it out and see how this change could affect your company's financial clarity and decision-making capabilities!

✨ Read it here:

The decision to transition from cash to accrual basis accounting is a pivotal decision for any growing business.

03/19/2024

🌟 Attention Business Owners! 🌟

Are you considering growing your business through a merger or acquisition? Perhaps you're thinking about transitioning out? Understanding the due diligence process is key to making informed decisions.

Our latest blog post offers a comprehensive guide on what due diligence involves. Learn how to prepare for the complexities of any business transaction and ensure a successful outcome.

Dive into the details now and set your business up for success! https://bit.ly/3x1iWrr

For business owners understanding the due diligence process can better prepare you for an acquisition or sale.

03/05/2024

Is your business running at peak performance?

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• Revenue growth & sales processes
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Ready to take your business to the next level?

➡️ Get your FREE Diagnostic today! https://bit.ly/49Fs42Y

02/28/2024

As a business leader, it's essential to steer clear of common financial pitfalls. Learn about the top 3 financial mistakes companies make and how to navigate around them for a brighter financial future:

In order to realize your company's growth potential, check out the three most common financial mistakes companies make.

02/20/2024

Do you have questions about the Corporate Transparency Act, which went into effect for certain companies on January 1, 2024? Check out our FAQ about this new act and the reporting requirements:

The Corporate Transparency Act was enacted into federal law in 2021 and is effective for certain companies beginning on January 1, 2024.

02/14/2024

Are you thinking about the next chapter after your business? Understanding the role of a Certified Exit Planning Advisor can make all the difference. Our latest blog explains how a CEPA team can help you unlock the full potential of your business exit strategy.

🔍 From increasing business value to ensuring a fulfilling post-transition life, see how our Delap CEPA team can assist you every step of the way.

A Certified Exit Planning Advisor® (CEPA) is the strategic guide you need to ensure a successful business transition.

02/07/2024

As a business owner, understanding the value of your enterprise is crucial. A business valuation is a powerful tool that provides invaluable insights into your current financial position.

Our latest blog post will help demystify the business valuation process for business owners.

Read more:

A business valuation is a powerful tool that provides invaluable insights into a business owner's current financial position.

02/06/2024

Are you fully aware of your unclaimed property reporting responsibilities? It's more critical than you think! Our latest blog post outlines five best practices to ensure your business stays compliant and penalty-free.

✅ Understand and navigate escheatment laws
✅ Keep impeccable financial records
✅ Create clear policies and procedures.. and more!

👉 Dive in for valuable insights and practical advice tailored for today's complex business environment:

Here are five unclaimed property best practices to follow that can significantly reduce the risks related to unreported unclaimed property.