Podcast
One-minute tax tips from Dr. Friday. Quick answers to the questions clients ask most, more than nine hundred of them.
One-minute answer
Deductions & credits
In this episode, Dr. Friday discusses the significant tax changes set to take place after 2025, specifically regarding the meals and entertainment deduction. Currently, businesses can claim a…
ListenIn this episode, Dr. Friday highlights a tax-saving opportunity for small business owners—hiring your children under 18. Sole proprietors and partnerships can pay their children up to $14,600…
ListenOne-minute answer
Family & education
In this episode, Dr. Friday explains the concept of the "kiddie tax," which applies to unearned income from children's investment portfolios. She highlights the tax thresholds—$2,300 for minors…
ListenOne-minute answer
In this episode, Dr. Friday highlights the importance of strategic tax planning. With current tax rates at historic lows, she suggests it may be wise to pay more…
ListenOne-minute answer
Deadlines & filing
October 15th marks the final day to file your 2023 taxes if you were on an extension. Dr. Friday warns that failure to file by today can lead…
ListenDid you know parents can gift student loan interest to their children for a tax benefit? In this episode, Dr. Friday explains how up to $2,500 in interest…
ListenOne-minute answer
Deductions & credits
In this episode, Dr. Friday discusses the rules for deducting mortgage interest in 2024. If your mortgage exceeds $750,000, only interest on the first $750,000 is deductible, unless…
ListenIn this episode, Dr. Friday emphasizes the benefits of health insurance for the self-employed, noting that premiums are 100% tax-deductible. She also highlights the advantages of Health Savings…
ListenIn this episode, Dr. Friday, an IRS-enrolled agent, explains how she can assist with tax filing and IRS-related issues. Whether it's handling K-1 forms, real estate sales, or…
ListenOne-minute answer
Deductions & credits
In this episode, Dr. Friday discusses the challenges of deducting medical expenses. She explains how the IRS subtracts 7.5% of your adjusted gross income from medical expenses, making…
ListenOne-minute answer
Deductions & credits
Dr. Friday highlights the 2024 mileage rates, crucial for self-employed individuals. The business mileage rate is set at 67 cents per mile, while medical and moving miles (typically…
ListenDr. Friday explains the key difference between tax credits and tax deductions. While both reduce your taxes, credits are more valuable since they reduce your tax bill dollar…
Listen