Blog

What is a Living Will?

Could you imagine being in a situation where you can't communicate the type of medical care you want to receive? There's nothing more frustrating than not being able to make your preferences known. When it comes to emergency treatment, time may be limited, so making...

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Payroll of the Future

The relationship between an employee and an employer is a professional one. Employees do work for employers, who then pay said employees for their time and effort. But beyond the basic dynamic of employee-employer relationships, how do you establish a situation where...

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Setting Up a Business? Don’t Forget the Taxes!

In a recent announcement, the IRS is reminding would-be entrepreneurs of the importance of understanding the tax implications of setting up their own businesses. To start with, you have to choose a form for your business. Your choice has many implications for taxation...

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Guide to Basic Reporting Requirements for 1099s: MISC & NEC

The IRS is trying to make complying with the new lower filing requirement easier. Starting with the 2023 filing year, if a company has 10 information returns to complete, they will be required to electronically submit them to the IRS. This total is an aggregate...

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Can You Get Rid of PMI?

Do you want to get rid of PMI? First, understand exactly what it is and how it works. PMI is a type of insurance that you’ll have to pay for when you take out a conventional mortgage – one not insured by a government entity – and you haven't come up with a down...

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Updating Sales Tax Rates in QuickBooks Online

Updating Sales Tax Rates in QuickBooks Online: Step-By-Step Guide  • Sales tax collected set up in QuickBooks Online should automatically update with the new Milwaukee City and County rate increase. • Please confirm that the proper amount of tax is being collected...

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Sales and Use Taxes to Increase for Milwaukee County in 2024

Sales of taxable products and services that take place in Wisconsin are subject to 5% Wisconsin sales or use tax, including county and city sales or use tax, if applicable, unless an exemption applies.   What's New? Effective January 1, 2024, Milwaukee County...

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Supporting Local: Vrakas Summer Charity Lunches

At Vrakas, we believe in supporting local charities that give back to so many in our community. June through November, Vrakas holds charitable lunches that benefit local organizations. Each month, an assigned department hosts their charity lunch where they select a...

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