Tax questions
IRAs, 401(k)s, Roth conversions, required distributions, and how Social Security is taxed.
In this episode of The Dr. Friday Show, Dr. Friday offers practical financial advice for listeners navigating taxes, business transitions, and retirement planning. With real-life questions from callers,…
#Retirement Tax Planning#Family Property Transfers#Home Sale Exclusion#Social Security Benefits
ListenDr. Friday shares essential tips on managing withdrawals from different accounts, such as Roth IRAs and annuities, to minimize tax burdens. She highlights the importance of understanding how…
ListenIn this episode, Dr. Friday emphasizes the importance of addressing back-tax issues and planning for future taxes. She explains her role as an enrolled agent licensed with the…
ListenWelcome to the Dr. Friday Show from November 16, 2024! Dr. Friday, an enrolled agent and tax consultant, dives into timely financial tips and tax strategies to help…
#Estate Planning#Qualified Charitable Distributions#IRS Debt Resolution#Beneficial Ownership Reporting
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Health & insurance
For self-employed individuals, HSAs offer a strategic way to reduce taxable income and save for future medical expenses. In 2024, contribution limits are $4,150 for individuals and $8,300…
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Retirement & Social Security
Wondering how much money to contribute to your retirement from a tax perspective? Dr. Friday shares strategic advice on managing your funds when you inherit an IRA. If…
ListenWhen preparing your taxes, understanding your unique situation is crucial. Dr. Friday highlights essential questions to consider, such as your marital status, whether you have dependents, or if…
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Deadlines & filing
In this episode, Dr. Friday emphasizes the critical importance of filing taxes, even if you've missed years of returns. Whether you're up-to-date or haven't filed in decades, filing…
ListenSocial Security benefits are not taxable if they're your only income, and you won’t need to file a tax return. However, if you have additional income, the IRS…
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Deductions & credits
If you're 70+ or 73 and older and making required minimum distributions (RMDs), consider using a Qualified Charitable Distribution (QCD) to enhance your tax savings. By directing your…
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Retirement & Social Security
In this episode, Dr. Friday highlights some important tax changes for 2024. Required minimum distributions (RMDs) remain mandatory at age 73. Additionally, employers may now transfer former employees'…
ListenIn 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
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