The Alternative Minimum Tax (AMT) can be confusing, especially when selling stocks or participating in employee stock ownership plans (ESOPs). Dr. Friday explains how AMT kicks in when W-2 forms […]
Are you maximizing deductions for charitable donations? Dr. Friday explains the challenges of itemizing under the higher standard deduction, especially for married couples. Learn how to properly document contributions—whether cash, […]
Thinking about selling real estate? Dr. Friday breaks down the tax implications for primary homes, investment properties, and 1031 exchanges. Learn about exclusion limits for primary residences—$250,000 for individuals and […]
Wondering if there’s an age when taxes stop? Dr. Friday busts the myth that seniors can avoid filing taxes based on age. Tax obligations depend on income, not age. Whether […]
Did you know that gifting money to your children doesn’t offer a tax deduction? In this episode, Dr. Friday clarifies common misconceptions about monetary gifts. While your children won’t pay […]
Dr. Friday outlines the key differences between flex savings accounts (FSA) and health savings accounts (HSA). While FSAs allow a rollover of only $640, HSAs offer the benefit of accumulating […]
Dr. Friday discusses capital gains tax under current laws, explaining how rates differ from ordinary income taxes. She highlights the zero-percent capital gains rate for single filers earning $55,000 or […]
Dr. Friday emphasizes the importance of early adjustments to your W-4, 401(k), or 403(b) to maximize your tax benefits. Starting early in the year allows you to make meaningful changes, […]
Dr. Friday highlights the importance of understanding your 2025 standard deduction for accurate tax preparation. For singles, it’s $14,600; married couples get $29,200; and heads of household, $21,900. Plus, additional […]
Dr. Friday demystifies capital gains tax and the often-overlooked net investment income tax. While many know the capital gains rates of 15% or 20%, she explains how the additional 3.8% […]
Dr. Friday introduces her tax and financial firm, highlighting three decades of expertise in tax preparation and representation. As an enrolled agent licensed by the IRS, she offers personalized advice […]
Dr. Friday warns about the implications of receiving a 1099-C for debt cancellation. While forgiving debt might feel like a relief, it can lead to unexpected tax liabilities, turning your […]