It’s the final day of the tax year. Dr. Friday lays out what still counts for 2025—and what no longer does if the transaction hasn’t closed.
Transcript
G’day. I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment.
I’m Dr. Friday, an enrolled agent licensed by the Internal Revenue Service to do taxes and representation. You’re gonna need someone to be doing taxes in just a day or two because—you know what—we’re at the end of the year.
So anything that you’ve done for 2025 had better have been finished up. If you were doing conversions, if you were buying that truck to save tax dollars, it better have closed, because at this point most people do their taxes on the cash basis.
Meaning if it didn’t happen by today, it’s not going to happen for the tax year of 2025.
If you’ve got questions, or you haven’t done any tax planning and need some help with that—or just help with the tax preparation—give us a call at 615-367-0819.
You can catch the Dr. Friday Call-in Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.