CPA Blog (Nerd Talk)Crunching Numbers. Nurturing Finances. Tax Talk.

Coronavirus Info

To our CPA Nerds family, As you can imagine, we are trying to stay healthy so we can keep serving you to the best of our ability. We’re working hard to meet your deadlines and get through the rest of this tax season. Unprecedented Territory – Click Here to read the latest IRS Tax deferments …

Steps to Becoming a CPA

How to Become a Certified Public Accountant   A Certified Public Accountant (CPA) is an accountant who is licensed through your individual state’s Board of Accountancy. There are educational requirements, experiential requirements, and licensure information for becoming a CPA. The path to becoming a Certified Public Accountant is a lengthy process that differs from state …

2020 Tax Deadline Help

Michigan IRS Tax Help Did you decide to do your taxes yourself? April 15th is around the corner and rather than risk torture in a Turkish prison, talk to the professionals to handle your tax return. Corporate, personal and foreign tax returns are a specialty at CPA Nerds. We’ll help you sleep better at night …

Congress Updates Retirement Funding Rules

Congress Updates Retirement Funding Rules With the stroke of a pen, Congress can do whatever they want, and they have again. But this time, in a pretty good way. Within the massive 643-page spending bill that was recently passed, there were a couple of updated provisions regarding retirement funding: The age limit for contributing to …

Understanding Income Tax Brackets

How Do Tax Brackets Work? Have you ever heard someone claim something like “I’m in the 22% tax bracket!”? Claims such as these are often misguided. There is a misconception that all of your income is taxed at a certain percentage rate – this is not how income tax brackets work. New federal income tax …

IRS Releases a New W-4 Form for 2020

W-4 Forms Have Changed – Here’s What’s Changed The IRS just released the new Form W-4 which will take effect beginning in 2020, and it has major implications for taxpayers. The new form is intended to make Federal withholding more accurate in conjunction with the new Tax Cuts and Jobs Act (TCJA) that affected taxpayers …

Tax Tips for Millennial Homebuyers

Michael’s Advice for Millennial Homebuyers Of the many confusing experiences to navigate when saving for a home, buying a home, or selling a home, understanding the tax implications is certainly near the top. If you’re entering the US housing market data for the first time or thinking of starting to save for a home through various …

Should You Pay a CPA to Do Your Taxes?

How Using a CPA to Do Your Taxes Pays Off With an abundance of free and affordable tax preparation tools out there, many taxpayers are asking themselves if it’s still worth it to hire a CPA to do their taxes. While it can seem like the antiquated way of doing things, trusting a CPA to …

Important 2019 Tax Year Changes

What’s Changed? As 2019 wraps up, it’s time to start thinking about the upcoming tax season. We looked at some key changes to the 2019 tax year that may affect you. Penalty on the Individual Mandate From 2014 to 2018, many taxpayers were required to show proof of their health insurance. For those who failed …

CPA Nerds Staff Member Honored as Student of the Month

Roger CPA Review’s Student of the Month is Our Own Brad Chapman We are proud to announce that our very own Brad Chapman has been chosen as Roger CPA Review’s Student of the Month! Brad joined the CPA Nerds team in 2016 and has been working towards his CPA certification since. His success story with …