In the past, we've always been able to find things like job hunting expenses, maybe being able to take off certain amounts of miles, or all these different…
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People are always asking me what's the difference between a tax credit and a tax deduction? And one can be a lot more effective than the other. For…
ListenHome equity loans. The Tax Cuts and Jobs Act of 2017 suspended from 2018 to 2025 the deduction of interest paid on a home equity loan or line…
ListenFederal Tax Code encourages charitable contributions after the age of 70. You may be able to make this directly from your RMD or the Required Minimum Distribution of…
ListenAgain for my entrepreneurs, remember that health insurance premiums for the self-employed are 100% deductible for your insurance premiums on an above-the-line deduction. Meaning, guys, it's going to…
ListenWe all know that the tax law changed back in 2017 when they pretty much eliminated, starting in 2018, the 2106 or Expenses for Employees. But if you…
ListenAdoption tax credit. For those who adopt a child, you can receive a credit of up to $14,440 is qualified adoption expenses are required for the year 2021.…
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What’s The Difference Between a Tax Credit and a Tax Deduction?
Deductions & credits
People always ask me, "What's the difference between a tax credit and a tax deduction?" And one can be a lot more effective than the other. For example,…
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Radio Show
May 14, 2022
Welcome to the Dr. Friday Radio Show! In this episode, we have host, John Haggard, and tax expert, Dr. Friday, take on the latest tax updates, answer caller's…
#Earned Income Credit#IRS Debt Resolution#Inherited Property Basis#Capital Gains Taxes
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Radio Show
April 16, 2022
Welcome to the Dr. Friday Radio Show! In this episode, Dr. Friday takes on the latest tax updates, answers the caller's questions, and talks over the following topics:…
#Tax Filing Extensions#Disaster Tax Extensions#Qualified Charitable Distributions#529 Plan Withdrawals
ListenEmployee retention credit. I've talked about this for the last couple of years, it has to do with employers that had employees that worked through the pandemic actually…
ListenCharitable contributions are on the table. Remember, this has to be a cash contribution and you can have 300 for a single 600 for a married. The reason…
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