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
Casualty loss-affected taxpayers under the federally declared disaster area have an option of claiming the loss in the year that it happens or the prior year, whichever is…
ListenWe are in January. So for many of you, now's the time to start thinking about, "How much should I be putting aside in my 401 K?" Because…
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Tennessee tax relief for severe storms, straight-line winds, and tornadoes. We did have an event that happened for victims that fell into that on May 16, 2022. So…
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Pre-inflation Reduction Act of 2022. I'm pretty sure they should probably rename that one because I don't think it had a whole bunch to do with inflation. That…
ListenIf you're interested in claiming the tax credit available under Section 30 D for the EV credit for purchasing a new electric vehicle after August 16, 2022. A…
ListenAnd this is a reminder for many of you that maybe you had a big event in which you sold something that's caused a large amount of taxes…
ListenAdaption. One of the best things I think people can do when it comes to maybe helping out or just making changes in life. Adopting a child is…
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Estate, gifts & inheritance
For all of you that love to kind of help out maybe do some estate planning by gifting funds to stock portions of estates to your descendants. Then…
ListenEstates of the deceased who have died in 2022 have a basic exclusion of $12,060,000 up 11,700 from the estate deceased who died in 2021. So in most…
ListenMany people, actually surprising how many people actually work overseas. And remember for the 2022 tax year the Foreign Income Tax Exclusion is 112 up from 108 in…
ListenThe modified adjusted gross income amount used for joint filers to determine the reduction in the Lifetime Learning Credit provided under 25 A is not adjusted for inflation…
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Bookkeeping & payroll
For tax years beginning in 2022, the dollar limitations for employee salary reduction for contributions to health flex spending arrangements increased to 2,850. Cafeteria plans allowed you to…
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