Holiday giveaways meet stalled refunds, inherited Roth questions, and business deductions.
Welcome to the Dr. Friday Radio Show Christmas Special 2023! Hosted by financial counselor and tax consultant, Dr. Friday, this episode promises a blend of financial insight, lively discussions, and festive giveaways. Joined by special guest Dr. Electric (Joe Macri), the show celebrates the season of giving with its annual Christmas giveaway, a tradition for nearly 15 years. Tune in for a unique mix of business updates, expert advice, and exciting prizes!
Key Highlights:
Join Dr. Friday and Dr. Electric for an episode filled with warmth, wisdom, and the spirit of Christmas. Whether you’re seeking financial advice or just in for the festive atmosphere, this special show has something for everyone!
In this episode
Keep side-business deductions separate from expenses for your W-2 job, and ask your tax preparer which costs qualify.
A home-office deduction requires a legitimate home office; working at your kitchen table does not qualify.
Consider setting aside profits from your side business for retirement through a self-employed retirement plan.
The repayment window discussed for putting an IRA withdrawal back into the account is 60 days.
For a prolonged IRS refund delay, ask your representative about filing Form 911 with the Taxpayer Advocate Service.
Transcript
Part 1
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No, no, no, she’s not a medical doctor, but she can sure cure your tax
problems or your
00:00:06.400 –> 00:00:07.400
financial woes.
00:00:07.400 –> 00:00:09.640
She’s the how-to girl.
00:00:09.640 –> 00:00:11.360
It’s the Dr. Friday Show.
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If you have a question for Dr. Friday, call her now, 737-WWTN.
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That’s 737-9986.
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So here’s your host, financial counselor and tax consultant, Dr. Friday.
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G’day, I’m Dr. Friday and the doctor is in the house.
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And today we have a show of shows that we’re going to be putting on every
year.
00:00:40.160 –> 00:00:45.560
I’m fortunate enough, many of you know that Dr. Electric is not on the show as
often or
00:00:45.560 –> 00:00:50.680
he doesn’t have his normal Saturday shows, but I have dragged him onto the
radio.
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So we’re going to have a really good time having Joe here and myself.
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This is our annual Christmas giveaway.
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We have done for nearly 15 years together.
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So I’m so glad that he’s going to join us on the show.
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We’ll talk a little bit about what his business is doing, what my business is
doing, but most
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importantly what we’re going to do is talk about what we’re giving away.
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That’s right.
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This is always, usually we had two hours.
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We got to get it all into one hour.
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So we’re going to have a lot of fun doing that.
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Is Joe on the line?
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I am.
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Oh, there’s my boy.
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How are you doing, buddy?
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Doing fine.
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How are you doing?
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Staying busy.
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You know, it is getting close to my season again.
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So I can’t say it seems like I get done with taxes by October and they start
again in January.
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So it keeps life exciting and fun here.
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But how’s the business still doing well?
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Yeah, still busy.
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You know, I kind of stopped doing a radio show for retirement because I wanted
my Saturdays
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back just like right now I’m doing a radio show from Florida with you.
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Exactly.
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I know that’s the one thing people don’t realize is that it’s really a six day
a week situation
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and it does take off our weekends whenever you want to go away or something.
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You always have to plan something.
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So it’s not as convenient as others, but we’ve enjoyed doing it.
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Today we’re going to do our usual Christmas show.
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No matter where in the world you are at the moment in Florida, obviously.
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So why don’t we just go ahead and start with our giveaway.
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The phone number here in the studio is 615-737-9986.
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615-737-9986.
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We’re all start with a $50 Netflix card, a $50 Netflix card for the first.
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You’re going to, Leviticus, you are going to pick the number.
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So we’re going to let the phone lines light up.
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Again, if you would like to have a free Netflix card, you just pick up the
phone 615-737-9986.
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It will take a, whichever color he chooses because anytime I say the number
and then
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the phone lines blast, the next thing you know, you don’t have anything.
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So we’re a, let the phone lines light up a little bit and let him choose on
that one.
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So we have a, in Florida, are you doing a, are you building a new house out
there or
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something or are you guys just enjoying it?
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No, no, no, no.
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I have another house being built actually the Monday I’m meeting a, this one’s
going
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to have a golf simulator inside of it.
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So the company that’s coming to install it, it’s going to meet me here Monday
and I have
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a shooting range in it, so I’m going to handle it with them.
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But I’m still doing a bit.
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I mean, I took probably 10 calls yesterday just from Florida, you know, doing
my stuff.
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I got Cody running my company while I’m down here, but everything’s still the
same.
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Right.
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Well, these work for you for what?
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10, 15 years, Cody?
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Yeah, yeah.
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I know.
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Well, I mean, yeah, but I mean, he’s, he’s been in the business a long time,
but I knew
00:03:50.560 –> 00:03:54.880
he was about time for him to kind of step up and do something on that.
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So all right.
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So it looks like, are we saying Buffalo Bill is the winner?
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Buffalo Bill, are you online?
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I am.
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Hey, Buffalo Bill.
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I love the name.
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I mean, heck, my parents call me Friday, so I guess there’s nothing different
than Buffalo
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Bill on that one.
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So you are the winner of a Netflix card, my friend.
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I hope you have a very Merry Christmas.
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Thank you.
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I was the last of 11 kids.
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So my dad, he nicknamed me, well, my name was Bill.
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So he called me Billy Quit.
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He had 11 kids called it Quit.
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Yeah.
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Well, as you guys all know, I’m the youngest of eight and my father pretty
much said, thank
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God it’s Friday and it was over.
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So no more babies after me.
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So that was anyone from a big family can relate to that.
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Fantastic.
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All right, buddy.
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Thanks.
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Stay on the line or make sure that our gentleman gets your information and
then we’ll get it
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back to you.
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Okay.
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Thank you, sir.
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All right.
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So we got our first one.
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I like that Buffalo Bill.
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I wonder if he likes Westerns or anything.
00:05:01.800 –> 00:05:04.200
All right.
00:05:04.200 –> 00:05:08.900
So Joe, you’ve been hunting obviously, because one of the reasons I wanted you
on the show
00:05:08.900 –> 00:05:14.760
is because I don’t know if I can do a Christmas show without giving away some
deer meat.
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They may boycott me if I don’t.
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This is something I never thought I would ever be giving away on the radio.
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And so far it’s always been one of our number one giveaways and we’re not
giving it away
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yet.
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I’ll make people wait a little bit for that.
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Oh, okay.
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We’ll give away a whole deer, like half of somebody processed, the other half
to somebody
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else.
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We’ll give two.
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Yes, that’s the idea.
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Give two different ones.
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Yeah.
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And I also do have the three hand and stone massages we can give away with it.
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Like also if you run out of yourself.
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Oh, okay.
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So I got you.
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All right.
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Hand and stone.
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And they can ask questions in electrical.
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I know it’s a tech show, but you know, it’s pretty boring, but if they have
any electrical
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questions, they can still call me.
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I knew you.
00:06:01.920 –> 00:06:03.480
I was just waiting for you to warm up.
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I knew I was waiting for this.
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I knew I had to have a little fun.
00:06:07.480 –> 00:06:10.800
It’s like, I’m like, okay, well maybe he’s just getting a little older and
he’s just
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getting more mellow or something.
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I was so waiting.
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I mean, I’m sure the people on the other, the listening, we’re waiting for it
as well
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because I knew you couldn’t go away without telling me how wonderful the
electric business
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is and how boring the tax business is.
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You know, gosh knows, but he is a hundred percent correct.
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If you’ve got any questions for either Dr. Electric talking about household
electrical
00:06:33.320 –> 00:06:38.040
or he covers a lot of different things or since it’s a tech show, you know, if
you have
00:06:38.040 –> 00:06:40.760
a question, you can certainly call the show.
00:06:40.760 –> 00:06:50.920
Just let us know again, anything to talk about 615-737-9986, 615-737-9986.
00:06:50.920 –> 00:06:54.480
And while we’re waiting for that next caller, since I have to give away so
many things that
00:06:54.480 –> 00:06:57.240
have already got listed here, we’re ready for the second giveaway.
00:06:57.240 –> 00:07:02.320
It’s going to be a $50 a Darden restaurant, which is the Olive Garden, the
Longhorn, a
00:07:02.320 –> 00:07:08.200
bunch of other restaurants they own $50 gift card to the Darden restaurant
chains.
00:07:08.200 –> 00:07:12.120
And so if you like that, you can certainly pick up the phone, get the phone
rolling,
00:07:12.120 –> 00:07:14.720
and then luckily you will hopefully be one of the callers.
00:07:14.720 –> 00:07:23.600
Again, the number is 615-737-9986, 615-737-9986.
00:07:23.600 –> 00:07:28.000
Has anything changed in your business as far as, I mean, a lot like mine, Joe,
I mean,
00:07:28.000 –> 00:07:32.240
there are changes from time to time where they upgrade different requirements
and stuff,
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right?
00:07:33.240 –> 00:07:35.280
Has anything come down the line on that or no?
00:07:35.280 –> 00:07:36.280
Or is it always changing?
00:07:36.280 –> 00:07:37.280
It changes every three years.
00:07:37.280 –> 00:07:42.760
The code comes out every three years, but sometimes it takes six before they
enforce
00:07:42.760 –> 00:07:43.760
it.
00:07:43.760 –> 00:07:47.400
So it’s basically costing more money to our house because they make you do
more special
00:07:47.400 –> 00:07:48.400
breakers.
00:07:48.400 –> 00:07:52.200
But basically everything on the wire and all the stuff we do is always the
same.
00:07:52.200 –> 00:07:55.760
I mean, the smoke detectors and permits go up every year.
00:07:55.760 –> 00:08:01.320
Seems like just stuff like that, but nothing, actually some of the cost is
coming down now
00:08:01.320 –> 00:08:04.360
because the wire was so high before and PVC was so high now.
00:08:04.360 –> 00:08:08.440
Now it’s starting to, it’s not as low as it used to be, but it is getting
lower than it
00:08:08.440 –> 00:08:09.440
was.
00:08:09.440 –> 00:08:14.840
Well, we all know with inflation, everything has went up and then there was
just, I think,
00:08:14.840 –> 00:08:20.280
so much demand and they didn’t have as much with that one that, you know, I’m
just saying
00:08:20.280 –> 00:08:23.320
that they were able to do something with it.
00:08:23.320 –> 00:08:26.800
So interesting to see how that would work out.
00:08:26.800 –> 00:08:30.720
You know, I’m just curious because even in our business, I mean everything’s
going up
00:08:30.720 –> 00:08:36.480
again, you know, I mean just the cost of paper, pins, computers, you name it
all seems to
00:08:36.480 –> 00:08:37.480
go keep going up.
00:08:37.480 –> 00:08:40.840
All right, Donald Daniel, let’s see if we can get you on the phone.
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Donald Daniel, the winner of our Darden restaurant gift card.
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Hey Donald, how’s life?
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Oh, it’s great.
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Thank you.
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Appreciate your program and I appreciate the chance to win something.
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No problem.
00:08:56.440 –> 00:09:00.760
You just have to tell Dr. Electric how much I’m a better, my show’s better
than his show,
00:09:00.760 –> 00:09:02.160
even though he doesn’t have it any longer.
00:09:02.160 –> 00:09:04.760
It was always, you’ve always been more my listener, right?
00:09:04.760 –> 00:09:09.560
More than his or did you listen to both shows or did you ever listen to either
of us?
00:09:09.560 –> 00:09:10.560
That’s your.
00:09:10.560 –> 00:09:11.560
There you go.
00:09:11.560 –> 00:09:12.560
All right, well, I’ll take that.
00:09:12.560 –> 00:09:13.560
That’s Donald’s problem.
00:09:13.560 –> 00:09:14.560
He just listens to you.
00:09:14.560 –> 00:09:15.560
So he want to, he want to, what do you want to Netflix?
00:09:15.560 –> 00:09:21.080
Cardinal, he could have got half a deer.
00:09:21.080 –> 00:09:25.280
Well, we’ll let Donald go.
00:09:25.280 –> 00:09:26.280
Merry Christmas, Donald.
00:09:26.280 –> 00:09:27.520
And thank you for being a listener.
00:09:27.520 –> 00:09:29.000
We really appreciate it.
00:09:29.000 –> 00:09:31.280
Merry Christmas to you.
00:09:31.280 –> 00:09:32.280
Yeah.
00:09:32.280 –> 00:09:33.280
All right.
00:09:33.280 –> 00:09:36.400
Well, uh, I was trying to get him to obviously stand up.
00:09:36.400 –> 00:09:40.480
Uh, by the time I got done, Joe, it was almost like I was praying for my name
to come up.
00:09:40.480 –> 00:09:42.800
That didn’t come out quite as well as I wanted it to.
00:09:42.800 –> 00:09:45.960
Uh, I’ll have to work harder on that one to be more subtle.
00:09:45.960 –> 00:09:47.760
That’s never been my strong suit to be.
00:09:47.760 –> 00:09:52.000
You need a, you need like a caller number four, that way they know, okay,
there’s a
00:09:52.000 –> 00:09:54.960
race to call the, then they could say what they want.
00:09:54.960 –> 00:10:01.400
I’d make them saying the wind’s helping like you used to do.
00:10:01.400 –> 00:10:07.360
But so, um, all right, well, in my business, to be honest with you, nothing’s
changed in
00:10:07.360 –> 00:10:08.360
taxes very much.
00:10:08.360 –> 00:10:11.360
Just to let you know, I know you worry about that when you’re with your
business.
00:10:11.360 –> 00:10:19.480
I know you’re constantly sweating over tax changes, but, uh, that’s just on
one of the
00:10:19.480 –> 00:10:20.480
houses.
00:10:20.480 –> 00:10:23.080
They told me the property tax next year is $20,000.
00:10:23.080 –> 00:10:24.080
I know.
00:10:24.080 –> 00:10:29.320
No, seriously, even in, even in Murray County, which is obviously out, you
know, more than
00:10:29.320 –> 00:10:33.880
Williamson, which has obviously been a, but our property tax in the last two
or three
00:10:33.880 –> 00:10:37.400
years has went up almost doubled from when I moved here 10 years ago.
00:10:37.400 –> 00:10:42.840
So, I mean, it’s kind of ridiculous, but, um, that’s just because we have so
many people,
00:10:42.840 –> 00:10:47.720
um, you know, moving in Murray County just went berserk to be quite honest.
00:10:47.720 –> 00:10:48.720
I don’t know.
00:10:48.720 –> 00:10:52.680
You guys still live up, uh, past the, uh, Gallatin up there, right?
00:10:52.680 –> 00:10:53.680
Is it busy?
00:10:53.680 –> 00:10:55.360
I mean, have you guys had a lot of growth up in that way?
00:10:55.360 –> 00:10:56.520
I don’t live up that way.
00:10:56.520 –> 00:10:57.520
So yeah, yeah.
00:10:57.520 –> 00:10:58.520
Yeah.
00:10:58.520 –> 00:11:01.960
Cotton town’s growing, but it’s the big, one of the biggest counties, but
it’s, it’s growing
00:11:01.960 –> 00:11:04.520
and a lot new schools and a lot more traffic.
00:11:04.520 –> 00:11:05.520
Yeah.
00:11:05.520 –> 00:11:07.240
That’s what I dislike a lot more traffic.
00:11:07.240 –> 00:11:08.240
All right.
00:11:08.240 –> 00:11:12.520
If anyone wants to call in for a question, you can certainly call, um, Joe’s
on the line.
00:11:12.520 –> 00:11:17.000
So any kind of electrical or any of those kinds of questions you can call or
tax questions.
00:11:17.000 –> 00:11:18.000
Come on guys.
00:11:18.000 –> 00:11:19.000
It is almost Christmas.
00:11:19.000 –> 00:11:22.520
So we’re also doing the Christmas show, but if you have a question, you can
join us.