In this episode, Dr. Friday delves into the complexities of reporting sales from a 423 employee stock purchase. She highlights the potential pitfalls of Schedule D and AMT…
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Tax questions
Bookkeeping & payroll
Keeping clean books, payroll taxes, paying yourself, and the records the IRS expects.
All topics
IRS letters & problems
Deadlines & filing
Deductions & credits
Small business & self-employed
Real estate & rentals
Retirement & Social Security
Family & education
Estate, gifts & inheritance
Investments & capital gains
Bookkeeping & payroll
Health & insurance
55 answers
One-minute answer
The 2106 Change: What Employees Need to Know About Deductions
Bookkeeping & payroll
In this episode, Dr. Friday delves into the significant tax changes that took place in 2017, particularly the elimination of the 2106 form in 2018. She highlights a…
ListenI want to make sure that you have looked at, we're almost done with the first quarter guys of this year. If you filed your taxes and you…
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Radio Show
March 25, 2023
Welcome to another episode of the Dr. Friday Radio Show! In this episode, tax expert Dr. Friday answers callers' tax questions and covers the following topics: Cryptocurrency Is…
#Inherited Property Basis#Tax Filing Extensions#Rental Property Sales#Cryptocurrency Reporting
ListenSub S corporations, you need to listen up. If you're operating under a small business corporation and you are not paying payroll, you are probably going to look…
ListenIf you have filed your taxes prepared your taxes and owed money to the IRS, it doesn't make a difference. If you're self-employed or if you're an employee…
ListenAnd you know, I have a number of clients, and one of the first things they always try to do is, "How's my withholding not being enough? And…
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Dollar Limitations for Employee Salary Reduction for Contributions to Health
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…
ListenDid you know the government can garnish a criminal 401K to pay RESPA restitution, which basically means if they consider what you've done criminal, for example, if you…
ListenMisclassified workers remain a priority for the IRS. They now have their own division within the IRS trying to identify misclassified isn't is firms are trying to circumvent…
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The Million Dollar Question: Employee or Independent Contractor
Bookkeeping & payroll
Employee or independent contractor. That seems to be a million-dollar question. The state, the federal, the IRS, and almost every agency is now looking into this question. The…
ListenYear-end tax planning tips. Let's do it. Do a trial run on your taxes just to see if you have enough money coming out. Your W4 may need…
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