When preparing your taxes, understanding your unique situation is crucial. Dr. Friday highlights essential questions to consider, such as your marital status, whether you have dependents, or if…
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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
One-minute answer
Simplifying Business Car Deductions: Mileage vs. Actual Expenses
Deductions & credits
Wondering how to maximize deductions for a car used for both business and personal purposes? Dr. Friday explains the two main methods: the mileage deduction and the actual…
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Maximize Tax Savings with Section 179 for Business Vehicles
Small business & self-employed
Thinking of buying a heavy vehicle like a truck or SUV for your business? Dr. Friday explains how Section 179 can work in your favor, allowing you to…
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The Importance of Filing Taxes: Protect Your Future and Family’s Opportunities
Deadlines & filing
In this episode, Dr. Friday emphasizes the critical importance of filing taxes, even if you've missed years of returns. Whether you're up-to-date or haven't filed in decades, filing…
ListenIn this Halloween-themed episode, Dr. Friday emphasizes the serious consequences of not filing taxes. The IRS recently reminded taxpayers that failure to file could lead to up to…
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Maximize Tax Savings by Donating Appreciated Stock to Charity
Deductions & credits
Discover a savvy tax-saving strategy: donating appreciated stock to charity. Dr. Friday shares how this approach can help you avoid capital gains taxes while securing a full deduction…
ListenSocial Security benefits are not taxable if they're your only income, and you won’t need to file a tax return. However, if you have additional income, the IRS…
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Maximize Tax Savings with Qualified Charitable Distributions (QCDs) for RMDs
Deductions & credits
If you're 70+ or 73 and older and making required minimum distributions (RMDs), consider using a Qualified Charitable Distribution (QCD) to enhance your tax savings. By directing your…
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Why Early Tax Document Preparation Prevents Costly IRS Penalties
IRS letters & problems
In this episode, Dr. Friday emphasizes the importance of organizing tax documents early, even though it's October. She advises preparing a checklist of all jobs and sources of…
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Key 2024 Changes to RMDs and Employer Retirement Transfers
Retirement & Social Security
In this episode, Dr. Friday highlights some important tax changes for 2024. Required minimum distributions (RMDs) remain mandatory at age 73. Additionally, employers may now transfer former employees'…
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Ensure Your Paid on Death Beneficiaries Are Up to Date
Estate, gifts & inheritance
Life changes like divorce or loss can impact who inherits your assets. Dr. Friday emphasizes the importance of updating your "Paid on Death" designations to avoid unwanted beneficiaries.…
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The Importance of Business Succession Planning for Future Security
Small business & self-employed
In this episode, Dr. Friday emphasizes the need for business succession planning, highlighting its importance for S corporations, LLCs, and sole proprietorships. She urges listeners to document their…
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