Dr. Friday explains how inflation and income changes can affect tax brackets and credit eligibility. She warns that raises can sometimes push taxpayers out of credits like EITC…
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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
One-minute answer
Permanent Tax Rules Make Long-Term Planning Easier
Dr. Friday explains why permanent tax provisions make long-term planning easier than laws that constantly expire. She also clarifies how enrolled agents help taxpayers plan, prepare, and handle…
ListenDr. Friday explains that the cash charitable deduction limit is now permanent at 60% of income. She also discusses how the higher standard deduction makes itemizing harder and…
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AMT Thresholds Stay the Same Under New Law
Dr. Friday explains that the alternative minimum tax (AMT) thresholds remain in place. She discusses why AMT can surprise taxpayers, especially when large capital gains are involved.
ListenDr. Friday reminds taxpayers that today is an important deadline for the final estimated tax payment. She explains that missing it can trigger penalties and encourages making the…
ListenDr. Friday introduces herself as an enrolled agent who focuses on tax preparation and IRS representation. She explains the types of situations where professional help can make a…
ListenDr. Friday explains that the estate and gift tax exemption stays at a higher level, giving families more certainty. She notes how that stability can help with long-term…
ListenDr. Friday breaks down the 20% QBI deduction and why its permanency is good news for eligible taxpayers. She shares a simple example showing how big the deduction…
ListenDr. Friday explains the mortgage interest deduction limits and why only a portion of interest may be deductible for larger loans. She also notes that some older mortgages…
ListenDr. Friday explains what the SALT deduction includes and why the cap increase matters for itemizers. She also discusses how bunching expenses may help, but only if you…
ListenDr. Friday reviews the Child Tax Credit rules that remain in place, including the refundable portion and inflation adjustments. She also explains the income limits that affect eligibility.
ListenDr. Friday explains that personal exemptions remain eliminated, even though many longtime taxpayers remember them. She also notes how the doubled, permanent standard deduction and age-65 benefits can…
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