Dr. Friday Tax & Financial Firm, Inc.

Dr. Friday reviews the American Opportunity and Lifetime Learning credits and who they can benefit. She highlights the need for Form 1098-T and notes that rising tuition makes these credits more important. 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 American Opportun...

Dr. Friday explains why self-employed taxpayers on marketplace insurance can face repayment surprises. She stresses updating income estimates during the year to reduce end-of-year penalty risk. 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. Premium tax credit rules for the...

Dr. Friday uses a St. Patrick’s Day message to remind taxpayers to review all available deductions. She encourages filers to stay current with changing tax law and claim what they are entitled to. 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. Happy St. Patrick’...

With tax season in full swing and the March 17 deadline for multi-member LLCs and S-corporations just around the corner, Dr. Friday packed this episode with timely, practical guidance. From clarifying the real story on “no tax on tips and overtime” to walking callers through Social Security taxation, inherited assets, and IRS penalty rules, this show delivers answers when people need t...

Dr. Friday reminds partnerships, S corporations, and many LLC filers that March 16 is a key filing deadline. She urges taxpayers to confirm that returns or extensions were actually submitted to avoid penalties. 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 is a big d...

Dr. Friday explains that the Child and Dependent Care Credit can still provide nonrefundable relief for eligible care costs. She also mentions income limits and how 529 plans may help with related education expenses. 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. Child and...

Dr. Friday walks through key Child Tax Credit rules, including income phaseouts and age requirements. She also notes that the child must have a Social Security number and U.S. citizenship. 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. Child tax credit, wonderful thing. It&...

Dr. Friday explains who may qualify for the small business health insurance credit and why planning matters. She also notes the two-year limit and the value of employee benefits. 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. Small business health insurance credit. To claim...

Dr. Friday highlights expanded IRS partnership audit enforcement under the Bipartisan Budget Act framework. She stresses clean records for basis, allocations, and distributions to protect partners. 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. And this is really for people...

Dr. Friday explains how entity choice planning still matters, even with the 21% corporate tax rate remaining in place. She recommends working with both a tax professional and an attorney before deciding. 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 permanency of the o...

Dr. Friday discusses annual vehicle depreciation limit adjustments and why business-use percentage matters. She reminds owners that personal-use vehicles generally cannot be fully depreciated. 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. Vehicle depreciation limits contin...

Dr. Friday explains that self-employment tax rules still apply, including annual Social Security wage base changes and Medicare add-ons for higher earners. She encourages self-employed taxpayers to review projected taxes before filing. 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...

Dr. Friday warns that Employee Retention Credit claims from 2020 and 2021 are still under heavy IRS scrutiny. She emphasizes tracking the claim details now so audit responses are easier later. 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. And it’s not really about cu...

Dr. Friday reviews the current deduction split between business meals and entertainment. She explains what documentation is needed and why a true business meal is different from entertainment spending. 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. Business meals and entert...

Dr. Friday takes live calls focused on practical tax decisions people are facing right now. She explains how capital gains work on inherited and sold property, why basis documentation matters, and why guessing tax numbers can create IRS problems later. The episode also covers Social Security withholding, the new age-based $6,000 deduction, home-sale exclusions, and rental-property recapture issues...

Dr. Friday explains how gig workers and freelancers now face tighter reporting under Forms 1099-K and 1099-NEC. She also highlights self-employment tax exposure and why estimated payments matter to avoid penalties. 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. Gig workers...

Dr. Friday explains that the home office deduction can still apply to self-employed taxpayers who use a space exclusively and regularly for business. She also reminds listeners to document details like square footage and household expenses. 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-m...

Dr. Friday explains the difference between Section 179 and bonus depreciation when writing off business equipment. She notes that the best choice can depend on your situation and encourages taxpayers to understand how the percentages affect them. 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...

Dr. Friday explains why inherited property can receive a step-up in basis, which may reduce future taxes. She cautions that quitclaiming property to children early can be a poor tax decision and mentions the Medicare or Medicaid look-back rules. 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...

Tax season is in full swing, and this episode centers on making smart filing decisions before deadlines hit. Dr. Friday opens with reminders for entity returns due March 15, then walks through live caller questions on deductions, IRA strategy, home-sale basis, and grant-funded wages. She also covers reporting side income correctly and planning ahead so tax results are less of a surprise. Summary P...

Dr. Friday explains how the adoption tax credit can still help reduce taxes, even if it is not fully refundable. She notes it can carry forward up to five years and stresses having proper documentation and a Social Security number for the child. 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...

Dr. Friday explains that W-2 and 1099 deadlines generally fall at the end of January, unless an extension is requested. She recommends contacting payers promptly and making a list of every employer and company so you do not miss forms and have to amend later. Transcript G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.c...

Dr. Friday encourages taxpayers to pause before filing and make sure they have considered available deductions. She also mentions planning ahead for an extra $1,000 charity amount in 2026 that can be taken above the line. 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 a...

Dr. Friday explains what an enrolled agent is and why that credential matters for tax preparation and IRS representation. She also clarifies when you may want a CPA for financial statement work. 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. Friday, an enrolled age...

Dr. Friday highlights areas the IRS tends to prioritize for enforcement, including higher-income taxpayers and complex pass-through entities. She also notes increased attention on digital assets and offshore holdings, and stresses good documentation. 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...