Dr. Friday explains a new IRS form, 1099-DA, that begins in 2025 for digital assets. She notes it will work much like a 1099-B and makes it easier for the […]
Dr. Friday explains why 1099-K reporting matters for people selling online or earning through apps. She warns that ignoring these forms can lead to IRS notices because the IRS receives […]
Dr. Friday reviews IRS modernization efforts like expanded e-filing and faster processing. She points out that it can still be difficult to reach an IRS agent, and that representation can […]
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 […]