QBI. We've talked about it a lot. It's section 199 A, and this has been on the books since 2018. But it has made it much easier for…
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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
AMT tax is one of those hidden taxes it's a tax code within the tax code. Leave it to all of us to find ways that we can…
ListenStudent loan forgiveness. From March 13 of 2020 through January 31, 2022, the interest rate was zero, and payments were suspended for federal student loans. Now, that doesn't…
ListenDischarged student loan debts. For the years 2018 through 2025, student loan debt that is discharged due to the total and permanent disability or death of a student…
ListenGambling losses and expenses. Remember losses still stay on schedule A which is a little bit harder now for people to use. Because if you went gambling and…
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Casualty and Theft Loss
Casualty and theft loss. Personal casualty and theft loss for individuals sustained in the tax year after 2017 are deductible only to the extent that the losses are…
ListenChild Tax Credit. We all know there was an increase and there was an advance, but how much was that increase? So it comes down like this: If…
ListenWe'd like to talk about capital gains, but there's also the extra tax on things like cryptocurrency. Is that really a collectible or antique? Is it more of…
ListenCapital gains and qualified dividends tax rates. This is important. A lot of people last year sold homes. And if you sold a rental property a second home…
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Understanding Tax Rates
Understanding tax rates. You know, we're always talking about taxes. And when people call me they're really wanting to figure out, "How much money do I own?" Remember,…
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The Difference Between a Business and A Hobby
Defining the difference between a business and a hobby. This is kind of important because many times people will be doing something on the side. And they basically…
ListenSo preparing your taxes means understanding what you have for deductions and credits. So let's just run through really quickly the standard deductions for the year 2021. You…
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