Up until the year 2017, we had a big change in all taxes, and people basically lost what was called the 2106 come 2018. That was where employees…
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Deductions & credits
What you can write off, which credits you qualify for, and the paperwork that proves it.
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Radio Show
December 19, 2020
Another episode of the Dr. Friday Radio Show is here! In this episode, Dr. Friday talks about all things taxes, and also the following topics: Tax Advantages Because…
#PPP Loan Forgiveness#Sole Proprietorship Setup#Claiming Dependents#Social Security Taxation
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Do Employees Buying Their Own Equipment Get A Tax Deduction?
Bookkeeping & payroll
I had an email come in this week and the gentleman was buying some tools and wanted to know if he could deduct them from his tax return.…
ListenPeople often ask, "Can I still deduct my tax preparation fees?" And the answer is no, not for a few more years. From 2018 to 2025, that is…
ListenTaking a tax deduction. Do I have to have the receipts? It's often what's asked in my office when people come in because for busy people receipts busy…
ListenAre legal fees a tax deduction? Many times people come in and they've had to pay legal fees to get a will/ trust, maybe had to settle some…
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Radio Show
November 21, 2020
Welcome to another episode of the Dr. Friday Radio Show! In this episode, Dr. Friday answers all the caller's questions concerning taxes, including the following topics: Is There…
#Capital Gains Taxes#Inherited Property Basis#Business Versus Hobby Losses#IRS Debt Resolution
ListenIs there a homebuyer's credit? No longer. In 2007 there was one and we had to pay back $500 every year. In 2008 they gave another one that…
ListenMany times people start out companies. Most of the time it starts towards the end of the year, maybe you don't have a lot of sales or maybe…
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Radio Show
November 14, 2020
Welcome to the Dr. Friday Radio Show! In this episode, Dr. Friday answers all the caller's questions concerning taxes and the following topics: Need To Take Money Out…
#Inherited Property Basis#Family Property Transfers#IRA Withdrawals#Estate Planning
ListenHome office. For many years, we've been taking home office for small businesses as a deduction. But about five years ago or so they came up with a…
ListenCharitable contributions. You know, there are more ways to give to charity than just cash. Many people will give clothing, household furniture, and cars. Cars are a bit…
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