Something new on our 2020 tax returns is a charitable contribution up to $300 coming straight off of 1040. Not part of our itemizing that we normally have…
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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
Student loan interest. Remember, in some cases, parents are actually paying the student loan interest, but it was for your own student loans. There is a way for…
ListenUp until the year 2017, we had a big change in all taxes, and people basically lost what was called the 2106 come 2018. That was where employees…
ListenWe've had a couple of issues because in 2019, many people were claiming their age parents that may live in their home, and they help support and that…
ListenThis is a pretty typical situation where it says, "My spouse and I have provided a home for my niece and her son for the past seven months.…
ListenI'm an enrolled agent licensed with the Internal Revenue Service to do taxes and representation. I do a radio show every Saturday at 2 pm right here on…
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Can State Court Determine Who May Claim a Child as a Dependent?
Family & education
Can a state court determine who may claim a child as a dependent? The answer is no. Federal law will determine who can claim the child. This is…
ListenA question I received says, "My spouse and I are married filing separately, we both contribute to support our son. Can we both claim him as a dependent…
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If My Spouse and I File Separately, Can I Claim Head of Household?
Family & education
This is a question believe it or not that I'm asked probably 10 times a month, at least. "I am married, but my husband and I file separately.…
ListenWe're thinking about preparing taxes. It's February people and it's time to think, 2020 tax returns, they're ready. We're ready to start filing. Have you received all your…
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Should You Be Claiming Your Unmarried Child On Your Tax Return?
Family & education
Should you be claiming your unmarried child that is in college on your tax return? These questions are great, and sometimes not something I can easily answer. Because…
ListenA question that came in says, "I've retired last year and started receiving Social Security payments. Do I have to pay tax on my Social Security benefits?" Assuming…
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