The CPA Nerds, Lotito & Lazzara P.C.

04/24/2026

When the math ain’t mathin’…

Michigan estimated payment notices are going out with some questionable calculations and a lot of taxpayers are confused.

Good news: it’s not just you.

Better news: we explain exactly what’s happening: https://www.cpanerds.com/blog/news/michigan-estimated-payment-notices-whats-going-on/

04/08/2026

What Are “Trump Accounts” for Kids?

A new savings option could help families start building wealth for their children early. Known as Trump Accounts, these tax-advantaged investment accounts are designed to help kids grow savings over time, potentially starting with a $1,000 government contribution for eligible newborns.

But how do they actually work? And is opening one the right move for your family?

Here's a breakdown:

• What Trump Accounts are and who qualifies
• How the $1,000 government contribution works
• Contribution limits and investment rules
• Step-by-step guidance on how to open one

If you’re planning for your child’s financial future, this guide answers some of the most common questions.

Read the full article.

https://bit.ly/4dfeAQB

Trump Accounts for kids are new IRA-style investment accounts. Learn what Trump Accounts are and how to open a Trump Account, plus key rules, limits, and dates.

04/02/2026

The IRS has increased the standard mileage rate for business driving to 72.5¢ per mile, up from 70¢ in 2025.

That means every mile you drive for business could now mean a slightly bigger deduction on your taxes.

Here's a breakdown:

• The new 2026 IRS mileage rate
• Who can claim the mileage deduction
• What types of trips qualify (and what don’t)
• Common mistakes that can cost you deductions

If you’re a small business owner, freelancer, or self-employed driver, this is one update you don’t want to miss.

Read more.

https://bit.ly/3PE7T0G

03/25/2026

Electronic payment requirements are changing as of March 2026. Paper checks aren't being completely phased out yet!

We've got all the details in our latest blog post.

Learn about the IRS Electronic Payments 2025 switch. Deadlines, payment options (Direct Pay, debit/credit, retail cash); no more paper checks.

01/28/2026

Got a donation of $250 or more? Uncle Sam wants paperwork.

To keep donations tax-deductible, donor acknowledgments aren't optional, and nonprofits must provide a written acknowledgment that includes:

🤓 Your organization’s name
🤓 The donation date and amount
🤓 A note on whether the donor received any goods or services

It’s not just good manners. It’s required by the Internal Revenue Service. Proper acknowledgments help your donors deduct with confidence and keep your nonprofit squeaky clean at tax time.

Nonprofits, learn more on our website: https://bit.ly/44Q9CSt

01/26/2026

Are digital payments still taxable? Absolutely, they are.

Money earned through digital payment apps and online marketplaces counts as taxable income.

Even if you don’t receive a Form 1099-K, you’re still required to report all business income. Forms help, but they’re not the rulebook. The IRS cares about the income itself, not whether a platform sent paperwork.

Translation: If it hit your account, it hits your tax return.

Stay nerdy and compliant.

Find out when you’ll get Form 1099-K and how to report this income properly so you can file your taxes with confidence.

01/23/2026

The IRS is going fully digital for 2025 returns. No writing or receiving paper checks from Uncle Sam. Paper checks have officially been depreciated.

CPA Nerds breaks down what electronic-only payments mean and how to get ahead of them now so tax season doesn’t surprise you later.

Learn more: https://bit.ly/4n8Vttd

12/03/2025

That “IRS” message in your inbox might not be what it seems. Before you click, here’s what you should know about how the IRS actually reaches out.

Stay safe from IRS phishing scams by learning how the IRS contacts taxpayers and how to verify suspicious messages.

11/28/2025

It’s been 7 years since father and son Mike and Michael Lotito both bowled perfect 300 games together on the same team!

Bowling is a family tradition for the Lotitos, passed down from Ken Lotito to his sons and grandson. Their passion and skill make every game memorable, including that time they both bowled perfect games but still lost the match. Talk about a plot twist only true CPA nerds can appreciate.

Here’s to many more years of strikes and family fun!

Ever bowl a perfect 300 game on the same day, in the same game, on the same team with yoru son? Just another typical day at the CPA Nerds office...

09/03/2025

Nerd Alert! We’re scouting our next class of brilliant bean counters and spreadsheet superheroes! Catch us at:

Wayne State – September 10
Walsh College – September 10
Oakland University – September 17

Swing by, grab some nerd vibes, and see if you’re ready to join the league of future CPAnerds!