Dr. Friday discusses the benefits of 529 college savings accounts for gifting and tax-free growth. Each year, contributions up to $18,000 are considered gifts, which grow tax-free and…
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Podcast
Dr. Friday Tax Tips - One Minute Moment
One-minute tax tips from Dr. Friday. Quick answers to the questions clients ask most, more than nine hundred of them.
982 episodes
Dr. Friday explains how to maximize your Dependent Care FSA before it expires at the end of the year. Unlike health savings accounts, FSAs have use-it-or-lose-it rules, with…
ListenDr. Friday recounts a case involving a charitable deduction disallowed by the IRS due to improper valuation. She stresses the importance of appraisals for non-cash donations over $250…
ListenDr. Friday shares essential tips on managing withdrawals from different accounts, such as Roth IRAs and annuities, to minimize tax burdens. She highlights the importance of understanding how…
ListenIn this episode, Dr. Friday emphasizes the importance of addressing back-tax issues and planning for future taxes. She explains her role as an enrolled agent licensed with the…
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How C Corporations Offer Tax Advantages for Small Businesses
Investments & capital gains
In this episode, Dr. Friday explains the tax advantages of C corporations, especially for small businesses. She highlights the 2017 tax law changes that reduced corporate tax rates…
ListenDr. Friday dives into the benefits of like-kind exchanges, explaining how they allow investors to defer taxes when swapping similar assets. While not applicable to primary homes, these…
ListenDr. Friday discusses how to maximize itemized deductions, including mileage for charity, medical expenses, and long-term care deductions. She emphasizes identifying overlooked deductions that can help taxpayers reach…
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A Thank You to Our Everyday Heroes
In this heartfelt episode, Dr. Friday expresses gratitude to those who serve the community, including members of the armed forces, firefighters, police officers, and teachers. She recognizes their…
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Understanding Progressive Tax Rates to Save More
Dr. Friday breaks down how progressive tax rates work, explaining why it’s essential to adjust your tax planning. Many taxpayers misunderstand their tax brackets, leading to unexpected liabilities.…
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What Is AMT Tax and Who Does It Impact?
Dr. Friday explains the Alternative Minimum Tax (AMT), a parallel tax system designed to ensure wealthy taxpayers pay a fair share. While many may never encounter it, the…
ListenTracking your mileage is essential for maximizing tax deductions for business, charity, or medical purposes. In 2024, the standard rates are 67 cents per mile for business, 21…
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