Dr. Friday Tax & Financial Firm, Inc.

Dr. Friday uses this final live radio broadcast to focus on tax planning before major life events, especially selling property, inheriting real estate, transferring family homes, and updating estate documents. She explains why basis, appraisals, trusts, POD designations, and powers of attorney matter before a family is forced to sort things out after the fact. The episode also includes caller ques...

Dr. Friday opens this episode with one more reminder that the Tennessee disaster-related June 8 deadline is about filing extensions, making payments, and avoiding avoidable penalties. She explains how missing or undocumented extensions can turn into failure-to-file problems, then walks through IRS notices, abatement, and why real human resolution still matters. Later, she covers gifting after esta...

Dr. Friday opens this Memorial Day weekend episode with practical reminders about the June 8, 2026 Tennessee filing and payment deadline. She explains why extensions only move paperwork, not the need to estimate and pay taxes, then takes caller questions on inherited trust assets, a California home sale, insurance proceeds, commission withholding, ESOP shares, retirement distributions, and IRS not...

Dr. Friday uses this episode to step back from the rush of tax season and look at what taxpayers can still control after the Tennessee filing extensions. She covers retirement contribution timing, business-loss documentation, estate and trust tax handling, and why good records matter when the IRS asks questions. A caller also asks how to distribute an IRA that was paid into an estate trust, leadin...

Dr. Friday reminds listeners that April 15 is the last day to file on time or submit an extension. She also notes final same-day timing for payments and IRA contributions. Transcript G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. It is April the 15th. This is tax day. Today is the las...

This episode stays focused on last-minute tax-season decisions, especially for Tennessee listeners affected by the IRS winter storm extension to May 22, 2026. Dr. Friday explains why filing still matters even when payment is difficult, and she answers caller questions on capital gains, missing forms, debt cancellation after a spouse’s death, inherited funds, and gift tax rules. She also shar...

Dr. Friday urges taxpayers to submit and confirm extensions before the deadline. She emphasizes checking bank draft timing, payment plans, and proof that the extension was accepted. Transcript G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. Today you had better be making your extension...

Dr. Friday introduces her role as an enrolled agent and explains how she helps with tax filings and representation. She encourages taxpayers who still need to file to request an extension and get a second review. Transcript G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. I am Dr. Frida...

Dr. Friday explains why Airbnb and short-term rental owners need careful tax allocation and recordkeeping. She also notes compliance requirements at federal, state, and local levels. Transcript G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. I probably should have had this one a lot ea...

Dr. Friday explains that meeting the 750-hour test alone does not guarantee real estate professional status. She warns that taxpayers with full-time non-real-estate jobs often face IRS disallowance. Transcript G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. Real estate professional sta...

Dr. Friday discusses opportunity zones as another way to defer capital gains. She notes timing rules and longer holding periods can be key to the tax outcome. Transcript G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. Sometimes we’re just looking for good ways to save money, and...

Dr. Friday explains standard depreciation periods for residential and commercial rentals. She also covers cost segregation benefits and why recapture should be part of long-term planning. Transcript G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. Rental properties continue to have depr...

This episode opens with timely news for Tennessee taxpayers in counties affected by the recent ice storm: the IRS has extended certain filing and payment deadlines to May 22, 2026. Dr. Friday also fields caller questions about when Social Security income triggers a filing requirement and whether people living only on benefits need to notify the government each year. Along the way, she covers inher...

Dr. Friday reviews the core 1031 like-kind exchange rule for real estate investors. She explains how reinvesting proceeds can defer capital gains instead of paying tax immediately. Transcript G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. 1031 exchange rules for real estate have no bi...

Dr. Friday discusses step-up in basis and why timing of transfers can affect taxes. She notes that gifting during life can sometimes leave tax savings on the table. Transcript G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. A step-up in basis. Have you ever heard better words? A step-u...

Dr. Friday explains that the adoption tax credit remains available with inflation adjustments. She highlights that unused credit can carry forward for up to five years. Transcript G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. Adoption tax credit continues under the extended rules, wi...

Dr. Friday uses an April Fool’s joke to remind listeners that taxes are still very real. She also points out that Congress makes tax law and encourages filers to handle extensions and tax planning on time. Transcript G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. Guess what? The...

Dr. Friday reviews home energy improvement credits and annual limits for items like HVAC and windows. She explains why receipts and manufacturer certificates are critical for claiming the credit. Transcript G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. Energy credit for home improvem...

Dr. Friday explains how alimony tax treatment differs depending on divorce date. She notes that most post-2018 agreements are no longer deductible to the payer. Transcript G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. Divorce, alimony, really doesn’t make a big difference to be...

Dr. Friday explains documentation thresholds for charitable gifts of cash and property. She warns that larger non-cash donations can be disallowed without proper appraisal support. Transcript G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. Let’s talk about charitable contribution...

Dr. Friday explains that Social Security benefit taxation remains unchanged, with up to 85% potentially taxable. She also highlights qualified charitable distributions as a way some retirees can lower taxes. Transcript G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. For all of you that...

Dr. Friday reminds taxpayers they can still fund a traditional or Roth IRA up to tax day. She explains that the best choice depends on long-term planning, not just this year’s deduction. Transcript G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. You can still put money into a Rot...

Dr. Friday discusses a program she describes as Trump Savings for children born during eligible years. She explains the reported $1,000 initial funding and possible annual parent contributions. Transcript G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. This is for all new parents. Star...

Dr. Friday explains the Saver’s Credit and how it is expected to transition under SECURE 2.0. She notes the benefit is mainly aimed at lower-income savers, especially workers just getting started. Transcript G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. The Saver’s Credit...

Dr. Friday explains that qualified student loan interest may still be deductible up to annual limits. She also covers income restrictions and why documentation is required. Transcript G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. Student loan interest is still deductible, up to $2,50...