What Happens if I Cannot Pay My Taxes?
Owing money to the IRS can be a significant source of stress, especially if you are unsure how to pay off your balance. The IRS
New Overtime Deduction Rules (Includes QuickBooks Tracking)
The OBBA has introduced a qualified overtime deduction available for tax years 2025 through 2028. This deduction applies to qualified overtime pay received during the year and is limited to:
Kicking Off the Year with New Talent at Vrakas
Vrakas is excited to welcome a talented group of interns and new hires to our Brookfield, Chicago, and Madison offices as we kick off the
From Graduate to CPA: Lessons in Building a Career
By Ben Rawson, CPA | Vrakas CPAs + Advisors Discovering My Path Finding the right career path can take time, and for many people, it’s
How Taxes Can Affect Your Home Sale
If you purchase a home and its value increases, selling it within a year means the IRS will treat your profit as short-term capital gains,
Get Ready for the 2026 Tax Filing Season: Key IRS Tips and Updates
The IRS “Get Ready” campaign is designed to help taxpayers prepare for the upcoming 2026 tax filing season. This year introduces several important updates under
Understanding 1099 Reporting Basics: MISC and NEC Requirements
If, during your trade or business, payments total $600 or more to a sole proprietor, partnership, or limited liability company (other than a corporation) for
What’s New in QuickBooks Online: Smarter, Faster, and More Connected
QuickBooks Online continues to roll out powerful updates, making bookkeeping simpler, more accurate, and easier to control. Check out the latest features below and how
Nanny, Babysitter, or Cleaner? When Household Help Becomes a Tax Obligation
If you pay someone to work in your home — even part-time or occasionally — they may be considered a household employee by the IRS.
Vrakas Welcomes New Talent Across Offices
Vrakas CPAs + Advisors is excited to welcome several talented professionals to our growing team across multiple offices.
Overlooked Tax Deductions for Medical and Dental Expenses
At Vrakas CPAs + Advisors, we know that understanding different deductions can make a big difference when filing your taxes. Understanding what medical and dental expenses