I need to try to understand why so many people walk into my office and they seem to be upset because they are not itemizing. Now, let's regroup…
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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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And one of the greatest tax breaks as far as I'm concerned for individuals in retirement is the Qualified Charitable Deduction. The IRS is already basically mandating that…
ListenWe are finding more people are paying more money this year. Part of it is because of multiple jobs. If you start a new job after you've already…
ListenCharitable contributions. You guys are now in there preparing your taxes, you're getting ready to hit the send button. Don't forget that when I talk about charitable contributions,…
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Radio Show
February 12, 2022
Welcome to another episode of the Dr. Friday Radio Show! In this episode, Dr. Friday takes on the latest tax updates, answers callers questions, and talks over the…
#Home Sale Exclusion#1099-K Threshold#Retirement Tax Planning#PPP Loan Forgiveness
ListenIf you're doing your own taxes, you may have found a couple of new forms. In 2021 partnerships and S corporations have a couple of new schedules, we…
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The Child Independent Deduction for 2021 Was Fully Deductible
Deductions & credits
The child independent deduction for 2021 was fully deductible. That means you get dollar for $1 deduction up to $3,000 per child, if they're over the age of…
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Radio Show
February 5, 2021
Welcome to another episode of the Dr. Friday Radio Show! In this episode, Dr. Friday takes on the latest tax updates, answers callers questions, and talks over the…
#Capital Gains Taxes#Social Security Taxation#Rental Property Sales#Medicare IRMAA Surcharges
ListenEIC, earned income credit without children. Did you realize that if you are someone that may not be making a lot of money, so if you're a single…
ListenThe 2021 recovery rebate credit also thought of as the stimulus was something that they gave us an impact for the economic hardship people were facing. This is…
ListenChanges to the educational credits. The repeal of the CA under the 2200 deduction for qualified tuition and related expenses. Instead it increased the phase out limits to…
ListenQBI. We've talked about it a lot. It's section 199 A, and this has been on the books since 2018. But it has made it much easier for…
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