Do you support your parent? Do they maybe live in your house or live in a care facility in which you basically help support them? Remember there is…
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Deductions & credits
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In the past, we've always been able to find things like job-hunting expenses, maybe being able to take off a certain amount of miles, or all these different…
ListenIf you have capital gains or dividend income and have investment interest expense, you may want to consider calculating the break-even point so you can optimize both the…
ListenThe Consolidated Appropriations Act of 2021 maintains and enhances the charitable contribution provision that was originally created by the COVID Aid and Relief Economic Security Act or the…
ListenFederal Tax Code encourages charitable contributions after the age of 70 and a half. You may be able to make this directly from your RMD or required minimum…
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Health Insurance Premiums for Self-Employed Are 100% Deductible
Deductions & credits
Again, for my entrepreneurs, remember health insurance premiums for the self-employed are 100% deductible for your insurance premiums on and above the line deduction. Meaning guys, it's going…
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Radio Show
October 9, 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…
#Retirement Tax Planning#Capital Gains Taxes#Estimated Tax Payments#Social Security Benefits
ListenMedical expenses. In 2021, all individuals may deduct a qualified medical expense that exceeds 10% of your adjusted gross income. Guys, this is the hardest part, because first…
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…
ListenChild tax credits on the American Rescue Plan we call the ARP act of 2021. They temporarily expanded the child tax credit for allowable families to claim the…
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Radio Show
October 2, 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…
#IRS Debt Resolution#Savings Bond Taxation#Tax Refund Delays#Estimated Tax Payments
ListenAdoption tax credit. For those who adopt a child, you can receive a credit of up to $14,440 that is qualified adoption expenses are required for the year…
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