Dr. Friday explains that the higher estate and gift tax exclusion continues and rises with inflation. She shares why this helps families plan wealth transfers and when you may need […]
Dr. Friday explains why the premium tax credit through the Marketplace can be confusing and how it is based on your taxable income. She warns that income changes during the […]
Dr. Friday explains how employer-provided commuting benefits like transit passes and workplace parking can be tax-free. She notes that inflation adjustments may raise the monthly limits and that small businesses […]
Dr. Friday explains how the Social Security wage base keeps rising and can increase payroll taxes for many workers. She also notes that Medicare tax stays uncapped, so higher earners […]
Dr. Friday explains that long-term capital gains rates still generally fall into the 0%, 15%, and 20% brackets. She also reminds higher earners to factor in the 3.8% net investment […]
Dr. Friday closes out January by reminding listeners that tax season is underway. She shares a simple system for gathering W-2s and 1099-Rs and using SmartVault to speed up preparation. […]
Dr. Friday explains why knowing your earned income and investment numbers matters for tax planning. She shares how tracking those numbers can help maximize credits and avoid unpleasant surprises later. […]
Dr. Friday explains how marriage and divorce affect your taxes, especially filing status. She clarifies that a divorce at any point in the year counts for the entire year, which […]
Dr. Friday explains that the earned income tax credit amount hasn’t changed much, but the IRS audits these claims frequently. She stresses the importance of documenting where a qualifying child […]
Dr. Friday explains why she is a strong advocate for health savings accounts (HSAs), even though she doesn’t sell insurance. She describes how HSAs can grow and help cover medical […]
Dr. Friday encourages taxpayers to think beyond filing their 2025 return and start planning for 2026. She highlights common events like conversions, real estate sales, and IRA moves that can […]
Dr. Friday explains that retirement plan contribution limits keep increasing with inflation and highlights catch-up contribution rules. She encourages taxpayers to take advantage of these options as they approach retirement. […]