Seniors age 65 and older are getting a new tax return to fill out. It's called 1040-SR. IRS has released the draft of for 2019. It has the…
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Spending time gambling doesn't always make it a trade or business. Remember the word hobby. IRS loves to use that on anyone that basically has some sort of…
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Dec 13, 2019
Welcome to the Dr. Friday Show! A few days left and it's Christmas Day, but we're still the gift that keeps on giving - especially to all your…
#Inherited Property Basis#Cryptocurrency Reporting#Retirement Tax Planning#Tax Filing Status
ListenHad an email come in this week and the gentleman was asking me... he was obviously out buying some tools and wanted to know if he could deduct…
ListenPeople often ask, can I still deduct my tax preparation fees? And the answer is well, not for a few more years. From 2018 to 2025, that is…
ListenMedical deductions. When you're looking at your medical deduction for 2019, it's 10% of your adjusted gross income - up from 7.5 in 2017 and 2018. Besides that,…
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Nov 16, 2019
Before your tax woes become TAX-ic, come and take a listen to this yet another insightful episode of Dr. Friday Show. For this episode, Dr. Friday takes calls,…
#Retirement Tax Planning#Rental Property Sales#Capital Gains Deferral#Home Office Deduction
ListenTax deductions on rental properties. Remember, besides the fact that you can take off all the maintenance that you have on that property, you're going to depreciate the…
ListenIs there a homebuyers credit? No longer. 2007 there was one and we had to pay back $500 every year and then in 2008 they gave another one…
ListenMany times people start out companies and, let's be honest, it starts towards the end of the year. Maybe you don't have a lot of sales or maybe…
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Nov 9, 2019
that can be found on this website by clicking on the link. Deduction for the Cost of Modification for Senior Proofing a Home Medical Expense and Deduction Filing…
#Medical Expense Deductions#Estimated Tax Payments#Crowdfunding Taxation#IRS Debt Resolution
ListenHome office. You know, many years, we've been taking home office for small businesses as a deduction. But coming about five years ago or so they came up…
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