Did you know that gifting money to your children doesn't offer a tax deduction? In this episode, Dr. Friday clarifies common misconceptions about monetary gifts. While your children…
Listen
Tax questions
Estate, gifts & inheritance
Gift tax, step-up in basis, trusts, inheriting property or accounts, and planning ahead.
All topics
IRS letters & problems
Deadlines & filing
Deductions & credits
Small business & self-employed
Real estate & rentals
Retirement & Social Security
Family & education
Estate, gifts & inheritance
Investments & capital gains
Bookkeeping & payroll
Health & insurance
77 answers
Dr. Friday discusses significant estate tax changes coming in 2025, including a reduction of the individual exemption from $13 million to $5 million. Learn how these changes could…
ListenDr. Friday explains the rules for tax-free gifting, allowing up to $18,000 per person annually. She highlights how this strategy can reduce estate size and benefit recipients without…
Listen
Radio Show
October 26, 2024
In this episode of the Dr. Friday Radio Show, Dr. Friday addresses tax extensions for those impacted by Tropical Storm Helene, tax planning, and ways to manage unexpected…
#Lost Tax Returns#IRS Debt Resolution#Tax Scam Prevention#Inherited Property Basis
ListenOne-minute answer
Ensure Your Paid on Death Beneficiaries Are Up to Date
Estate, gifts & inheritance
Life changes like divorce or loss can impact who inherits your assets. Dr. Friday emphasizes the importance of updating your "Paid on Death" designations to avoid unwanted beneficiaries.…
ListenDid you know parents can gift student loan interest to their children for a tax benefit? In this episode, Dr. Friday explains how up to $2,500 in interest…
Listen
Radio Show
September 07, 2024
In this episode of the Dr. Friday Radio Show, tax expert Dr. Friday discusses various tax-related topics, focusing on inheritance, property sales, retirement accounts, and tax planning strategies.…
#Inherited IRA Distributions#Inherited Property Basis#Estimated Tax Payments#Family Property Transfers
Listen
Radio Show
August 10, 2024
In this episode of the Dr. Friday Show, financial counselor and tax consultant Dr. Friday discusses various tax-related topics, including recent changes to tax laws, retirement contributions, and…
#Beneficial Ownership Reporting#Capital Gains Taxes#Retirement Tax Planning#Tax Refund Deadlines
Listen
Radio Show
July 27, 2024
In this episode of the Dr. Friday Radio Show, financial counselor and tax consultant Dr. Friday covers a range of important tax topics, from capital gains to inheritance…
#Social Security Benefits#Sales Tax Holiday#Capital Gains Taxes#Charitable Contribution Deductions
Listen
Radio Show
July 20, 2024
In this episode of the Dr. Friday Radio Show, Dr. Friday, an enrolled agent licensed by the Internal Revenue Service, discusses various tax-related topics and answers caller questions.…
#Inherited Property Basis#IRS Debt Resolution#Business Equipment Deductions#Gift Tax Returns
Listen
Radio Show
June 22, 2024
Welcome to another episode of the Dr. Friday Radio Show! In this episode, Dr. Friday provides expert advice on navigating the complex tax landscape, discussing topics such as…
#Phantom Income#Capital Gains Taxes#Capital Gains Deferral#Business Vehicle Deductions
Listen
Radio Show
May 25, 2024
In this episode of the Dr. Friday Radio Show, Dr. Friday discusses various tax-related topics, including franchise excise requirements, inheritance tax, and the American Family and Work Act…
#Tennessee Franchise Tax#Business Recordkeeping#Home Sale Exclusion#Inherited Property Basis
ListenAsk Dr. Friday
Have a tax question of your own?
Send it in. Questions may be answered on an upcoming episode or video, first name only.