CPA Blog (Nerd Talk)

Court Stops December 1 FLSA Overtime Regulations

A nationwide emergency injunction was granted to prohibit the implementation of final FLSA regulations, which doubled the current minimum annual salary level required for exemption from $23,660 to $47,476 per year effective December 1st. On September 20, 2016, 21 states, including Michigan, filed a lawsuit against the United States Department of Labor and the Wage …

Secrets of My Success – Macomb Chamber Entrepreneurship Series

The Secrets of My Success is a quarterly event in a series of planned conversations with successful Macomb County entrepreneurs. Speakers will share with the audience valuable lessons learned from their own experiences as small business owners. Keynote speakers are Jerry Innes and Mike Lotito of Innes and Lotito CPA Firm. These are not your …

Things to Consider Before Filing for Social Security Early

When do you plan on retiring? Are you thinking about filing for social security early? You’re not alone. The Social Security Administration estimated that 3.9 million people will turn age 62 in 2015 and another 4 million will turn 62 in 2016. What’s more, many of these people will be claiming their Social Security benefits …

7 Tips CPA’s Wish You Knew in 2015

It may be hard to believe, but it’s tax time again! We’re all rushed, we’re all busy… but this year, let’s take a little time to help our tax preparers out. They are, after all, human too! Nix the Shoebox Trick It might be convenient and really easy to throw all of your receipts in …

Why You Need A CPA Nerd

The hit show “3rd Rock From The Sun” perfectly illustrates why you need a CPA Nerd – accounting can be a frustrating and frankly hair-pulling experience (just check out our Staff page for proof). So instead of balding prematurely or messing up your new hairstyle, check out the video above, and get in touch with us …

What Is a 1099-C and What If I Receive One?

Since life isn’t always simple, it follows that tax forms aren’t either. A complicated one to look at is the 1099-C, but that’s exactly what we’re doing in our current blog. What is it? What if I receive one? Let’s have a look, shall we?

529 or ESA? Choosing a College Savings Vehicle

College education is oftentimes something that parents worry about as their children grow older. Most feel that they should be saving already, but haven’t because they are not sure where to put those saved funds. In this article we compare the different vehicles of college savings.

The Basics of Roth IRA Distributions

Learn about Roth IRA distributions and how your contributions to a Roth IRA can be tax free. Generally, Roth IRA distributions of earnings are not taxable if made no sooner than five years from the first day of the first tax year for which a regular contribution was made and such distributions qualify within one of four different conditions.