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The 4 QuickBooks Reports Small Business Owners Need

In 2017, Vrakas gained a Small Business Accounting Department! Our SBA department works with both QuickBooks desktop & QuickBooks online and can answer any of your questions. QuickBooks offers business users a variety of reports. Knowing which to use and how to use...

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What to Know About Pensions and Taxes

The amount of taxes you should withhold from your pension is dependent on your tax rate and your household sources of income and deductions. Basically, you add up all your sources of income and subtract your deductions to get your taxable income. Your taxable income...

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Why Retail Loves the Pop-Up Store

Last summer, a quirky oddity emerged when tiny 500-square-foot stores starting popping up for just a couple of weeks and then vanishing. Now, this trend is sweeping across the nation from industries as random as canine toy-testing stores to high-end designer shoe...

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Be Wary of Scam Artists

By Tim Itzin, Audit Shareholder There continues to be an alarming growth in attempted fraud with respect to business checking accounts. There are numerous methods used by the scammers to defraud companies and different legal issues/remedies exist with each. The grace...

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Alternative Minimum Tax — What’s It Like Today?

The Tax Cuts and Jobs Act made many changes to the individual tax law, including the alternative minimum tax. One of the goals of the new tax law was to reduce the impact of the AMT or even to repeal it entirely. A modification was made — let's see what it could mean...

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Gather All Your Papers for Taxes

  Most of the papers you need to document the income, interest and withheld taxes you report arrive in your mailbox in January, with investment-related 1099s often coming in February. Get ready for their arrival by creating print and online folders. It's a good idea...

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Impact of the Wayfair Decision

Background On June 21, 2018, the Supreme Court issued an opinion on South Dakota v. Wayfair, Inc. The Court ruled in favor of South Dakota against Wayfair and other large online retailers and overruled the Quill ruling from 1992. The case involved economic nexus law...

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