Tax questions
Dependents, child credits, childcare, college costs, student loans, adoption, and divorce.
In this episode of The Dr. Friday Radio Show, Dr. Friday dives into the heart of tax season with critical updates, valuable guidance for filers, and answers to…
#Beneficial Ownership Reporting#Roth Conversions#Charitable Contribution Deductions#Business Vehicle Deductions
ListenIn this episode, Dr. Friday discusses the tax implications of divorce. Learn how to navigate financial pitfalls, minimize taxes, and avoid unexpected liabilities before finalizing your divorce.
ListenDr. Friday explains phase-out thresholds for tax credits like child tax credits, adoption credits, and education deductions. She highlights how marriage can impact eligibility.
ListenDr. Friday discusses how marriage can impact your taxes, including penalties on capital gains, child tax credits, and educational savings. She highlights why understanding these tax rules is…
ListenOn this episode of the Dr. Friday Radio Show, Dr. Friday tackles key tax season concerns, from handling 1099 discrepancies to adoption tax credits. She also answers listener…
#IRS Notice Resolution#Claiming Dependents#Home Sale Exclusion#HSA Distributions
ListenDr. Friday explains the benefits of 529 savings plans, including the ability to contribute five years' worth of gifting at once. She highlights how these funds can grow…
ListenDr. Friday explains various education-related tax benefits, including student loan interest deductions, employee tuition assistance, and tax-free scholarships. She highlights income limits and how 529 plans can help…
ListenIn this episode, Dr. Friday breaks down what counts as taxable income and clears up common misconceptions. She emphasizes the importance of reporting all income sources, including business…
ListenIf you or your child is in college, don’t miss out on valuable education tax credits! To qualify, you need Form 1098-T, which details tuition payments, scholarships, and…
ListenThe 2024 Child Tax Credit has reverted to $2,000 per child after the temporary increase under the American Rescue Plan in 2021. Children over 17 qualify for only…
ListenThe 2024 Adoption Tax Credit offers adoptive parents up to $16,810 as a dollar-for-dollar reduction of their tax liability. Unlike deductions, this credit directly lowers the taxes owed,…
ListenDid 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…
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