Understanding Your Deductions and Credits

Dr Friday Tax Tips - One Minute Moment
Dr. Friday Tax Tips
Understanding Your Deductions and Credits

Dr. Friday 0:00
Good day. I’m Dr. Friday, president of Dr. Friday Tax and Financial Firm. To get more info go to www.drfriday.com. This is a one-minute moment.

Dr. Friday 0:12
So preparing your taxes means understanding what you have for deductions and credits. So let’s just run through really quickly the standard deductions for the year 2021. You have a single person that’s going to be 12,550, married filing jointly 25,100 and head of household 18,800 married filing separately is the same as single 12,550. If you are over the age of 65, you can also receive some additional credits of if you’re married, it’s going to be 1350 and single people will be 1700 If you understand where your money’s going, you’re going to save taxes.

Dr. Friday 0:52
You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.