Dr. Friday highlights the significant increase in the standard deduction for the 2024 tax year. Married couples will see an increase of approximately $1,500, raising the deduction to…
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Tax questions
Deductions & credits
What you can write off, which credits you qualify for, and the paperwork that proves it.
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352 answers
One-minute answer
Uncovering Tax Deductions for Early Business Expenses: Dr. Friday’s Insight
Deductions & credits
Dr. Friday, president of Dr. Friday's Tax and Financial Firm, delves into the often-overlooked aspect of tax deductions for small business startups. She emphasizes that expenses incurred in…
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Maximizing Tax Deductions: The Importance of Mileage Logs for IRS Audits
Deductions & credits
Dr. Friday, President of Dr. Friday's Tax and Financial Firm, emphasizes the critical importance of maintaining accurate mileage logs for tax returns. She highlights that mileage deductions are…
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Maximizing Below-the-Line Deductions to Reduce Taxable Income
Deductions & credits
Dr. Friday, President of Dr. Friday's Tax and Financial firm, delves into the significance of below-the-line deductions in tax planning. She explains how deductions such as standard or…
ListenDr. Friday highlights the significance of above the line deductions in tax planning. These deductions include contributions to retirement accounts, health savings accounts, and student loan interest. By…
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Navigating Charitable Deductions Beyond Cash: The Importance of Appraisals
Deductions & credits
In this episode, Dr. Friday delves into the complexities of charitable deductions beyond cash contributions. She emphasizes that while donating cash can yield straight tax deductions up to…
ListenJoin Dr. Friday, a renowned tax expert and president of Dr. Friday's Tax and Financial firm, in this intriguing one-minute episode of her podcast. She addresses a frequently…
ListenPodcast, Dr. Friday, the president of Dr. Friday's Tax and Financial firm, tackles a common tax query: Can you deduct home repairs on your taxes? Dr. Friday provides…
ListenPodcast, Dr. Friday, the president of Dr. Friday's Tax and Financial firm, delves into the often-confusing world of auto expenses and tax deductions. Covering essential topics like the…
ListenIn this quick yet insightful episode of Dr. Friday Tax Tips, Dr. Friday, the president of Dr. Friday's Tax and Financial firm, delves into the complexities of renting…
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Splitting Itemized Deductions: The Married Filing Separately Dilemma
Deductions & credits
Dr. Friday delves into the intricacies of itemized deductions for couples filing their taxes separately. While one might think it's as simple as taking the standard deduction, the…
ListenDr. Friday delves into the tax implications of owning a second home. Can it be tax deductible? The answer might surprise you. Whether it's a brick-and-mortar house or…
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