Dr. Friday Tax Tips

Dr. Friday explains the current and upcoming rules for 1099-MISC and 1099-NEC forms—and reminds businesses of their reporting responsibilities. 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. 1099-MISC, 1099-NECs—this is where we report our subcontractors or services that we have, and we need...

Have a large capital gain? Dr. Friday explains how investing through Qualified Opportunity Zones can eliminate tax and help struggling communities. 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 one of those things you don’t hear a lot about—the qualified opportunity zone. It’s been...

Still waiting on your Employee Retention Tax Credit refund? Dr. Friday explains why long delays are happening and what you should do next. 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. Back in 2023 and early 2024, many employers were doing the ERC/ERTC—Employee Retention Tax Credits—and som...

Dr. Friday explains changes affecting large businesses with significant debt—especially industries hit by today’s higher interest rates. 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. Interest deduction on business debts of larger companies is tweaked a little bit. After 2024, adjusted taxab...

Great news for businesses investing in research and development—Dr. Friday explains how R&D expenses can now be deducted much faster than before. 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. Full expense of domestic R&D cost is fully restored. We were getting it downward like 15 an...

Big purchases for your business? Dr. Friday explains how Section 179 lets you deduct 100% of equipment costs—up to millions—in the first year. 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 Section 179 has soared, meaning we now in 2025 have $2.5 million of assets that can now expand tha...

Good news for small business owners! Dr. Friday explains the now-permanent 20% qualified business income deduction and who can benefit. 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. Businesses get lots of tax breaks—most of them are maybe more permanent than others. Some are going to disapp...

Selling online or using payment apps? Dr. Friday explains the latest IRS updates to 1099-K reporting and what income levels trigger the form. 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 1099-K—we all know that’s been coming around. The last couple of years they kept threatening to do...

Planning to install solar panels or make energy-efficient upgrades? Dr. Friday warns that many clean energy tax breaks are set to expire by 2026. 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. Many of the clean energy breaks that we had in 2021 are going to expire as of September 2025; many...

Many people think not filing taxes only risks penalties—but it can also mean missing refunds. Dr. Friday explains why filing late could still help. 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 with Dr. Friday’s Tax and Financial Firm. I’m an enrolled agent licensed by the I...

Dr. Friday highlights a little-known opportunity for investors who hold qualified small business stock for five years or more—potentially eliminating capital gains tax. 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 a moment I hear very rarely talked about—the qualified small busines...

Dr. Friday explains a new tax-advantaged savings program that helps parents build retirement savings for children born between 2024 and 2029. 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 OBB created a new tax-advantaged savings account. This is kind of interesting—man...

Big changes for education savings! Dr. Friday explains how families can now use more 529 funds tax-free for K–12 education starting in 2026. 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. 529 plan—it’s a wonderful plan. It’s a great way for family to help others put their k...

Adopting a child? Dr. Friday shares good news about the updated adoption credit—now refundable and easier to claim starting in 2025. 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. There has been some helpful easing of the adoption credit. First, I’d like to thank anyone tha...

Starting in 2026, gamblers won’t be able to deduct all their losses. Dr. Friday breaks down what’s changing and who it affects. 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. Bad news for gamblers. Starting in 2026, they can deduct only ninety percent of the losses against...

It’s the big day! Dr. Friday reminds everyone that today is the final deadline for 2024 taxes and any remaining payments, including estimates. 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 today is D-Day for taxes of 2024. This was our final time. You need to be sendi...

Dr. Friday shares her love for Halloween while reminding everyone that November 3 is the final deadline for 2024 tax filings. Don’t miss it. 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 happy Halloween. I happen to be one of those people that love Halloween. Not only because I’m in a pr...

Dr. Friday clears up myths about the IRS, from levies to collections, and explains how her firm helps clients deal with these challenges. 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 agent licensed with the Internal Revenue Service to do taxes and representatio...

Starting in 2027, a new tax credit will reward donations to scholarship organizations. Dr. Friday explains how it works and who 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. GOP lawmakers get their wish to expand school choice for K through 12 students. There’s a new income tax cr...

Marriage, divorce, a new baby, or a new house? Dr. Friday explains how major life events can change your tax return and why planning matters. 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. We’re always talking about taxes because that’s what I do, but also organizing your taxes. Again, we ar...

Thinking about buying a new vehicle? Dr. Friday explains the new rules for deducting auto loan interest and who qualifies based on income. 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. Auto loans can deduct up to ten thousand dollars of interest, but there’s always a but—it has to be new. I...

Overtime income may be deductible under the new law. Dr. Friday explains the limits, eligibility, and key reporting 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 one-minute moment. One of the other things we’re looking at is the $12,500 of overtime pay that is deductible. Again, this can only be what’s...

Dr. Friday highlights two new rules: an added deduction for seniors and new reporting requirements for qualified tips. 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. There are a few things we want to go over. First, there’s a new senior deduction. I keep talking about it, but I want everyone...

From 2025 through 2029, taxpayers can deduct more state and local taxes. Dr. Friday explains how this expansion could benefit you. 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 a moment that I’m very excited about. 2025 through 2029, many of you know we had SALT that is on the S...

Worried about estate and gift taxes? Dr. Friday shares the good news: the lifetime exemption is now larger and permanent starting in 2026. 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 higher lifetime estate and gift extension is now permanent and bigger. I don’t know about a lot of you...