Dr. Friday Tax Tips

Dr. Friday Tax Tips

The Dr. Friday Tax Tips - One Minute Moment - is a collection of one minute tax tips designed to help business owners, individuals, families, entrepreneurs, and anyone who pays taxes to the IRS do so correctly while saving as much as their hard earned money as possible. If it has to do with taxes and/or the IRS, you will find it here! Dr. Friday is an IRS Enrolled Agent who specializes in Taxes, Bookkeeping, Payroll, Public Speaking events, and more. Dr. Friday Tax and Financial Firm, Inc. is a full service financial firm that helps deal with the Internal Revenue Service on behalf of our clients so they do not have to. To learn more, visit our website at https://drfriday.com, e-mail Dr. Friday at friday@drfriday.com, or call (615) 367-0819 today!

Episodes

December 2, 2022 1 min
Dr. Friday 0:00 Good 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. Dr. Friday 0:12 Employee or independent contractor. That seems to be a million-dollar question. The state, the federal, the IRS, and almost every agency is now looking into this question. The government wants everybody to be employees. Not going to be possible bec...
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Dr. Friday 0:00 Good 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. Dr. Friday 0:12 One way to reduce your taxes and make sure you're maximizing your 401k. You have not yet hit the last day of this year to put money into your 401 K, especially an employer 401k; you have to have it come out of your paycheck. So if you haven'...
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Dr. Friday 0:00 Good 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. Dr. Friday 0:12 And we still have a section 199 A deduction it came back in 2017 as part of the Tax Cuts and Jobs Act. But remember under the new section 199 A it enables the law to allow you if a non Corporation taxpayer can deduct QBI up until December 31 for 10...
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Dr. Friday 0:00 Good 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. Dr. Friday 0:12 I am Dr. Friday, an enrolled agent licensed with the Internal Revenue Service to do taxes and representation. I do not work for the IRS. I work for you. I'm more like a shield between you and the IRS. So if you're having IRS issues, you hav...
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Dr. Friday 0:00 Good 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. Dr. Friday 0:12 And it's time to really start thinking. We've made it through that Thanksgiving time. Time to start thinking about taxes. We're down to almost the last 30 days. Are you going to be doing a ROTH conversion? Are you going to be buying som...
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Dr. Friday 0:00 Good 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. Dr. Friday 0:12 And today is Black Friday. So now's the time to think before you go out and spend a ton of money. Are you really spinning it on the right things? I know. It's a great deal. And it's a time where you want to think about all the Christmas...
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November 24, 2022 1 min
Dr. Friday 0:00 Good 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. Dr. Friday 0:12 And happy Thanksgiving. I imagine this radio is on right now in the kitchen, where you're basically getting that Turkey ready to go into the oven or the deep fryer. Oh my gosh. Last year was the first year I actually had a deep-fried turkey, an...
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Dr. Friday 0:00 Good 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. Dr. Friday 0:12 Home equity loans, the Tax Cuts and Jobs Act of 2017 was suspended from 2018 to 2025. The deduction of interest paid on a home equity loan or line of credit unless it was used to buy, build, or substantially improved the taxpayers homes that secure...
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Dr. Friday 0:00 Good 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. Dr. Friday 0:12 Remember what was talking about in real estate sales? Well, here's something you need to know. Your primary home has a built-in exclusion. If you have lived in that home two out of the last five years, and you've been selling or maybe you&#...
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November 21, 2022 1 min
Dr. Friday 0:00 Good 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. Dr. Friday 0:12 Second home deduction. I will tell you I seem to have more people nowadays than there has been in the past that are actually living or actually purchasing second homes not as rental properties but as a true second home. Your cabin on the lake, for ...
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Dr. Friday 0:00 Good 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. Dr. Friday 0:12 Business succession planning. It's not necessarily part of the tax picture. But to be quite honest, I think all business owners need to think a little bit about what's going to happen when you may not want to continue doing what you do. Man...
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November 17, 2022 1 min
Dr. Friday 0:00 Good 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. Dr. Friday 0:12 Cryptocurrency. It is everywhere nowadays. And one of the tax questions on your tax return is: Do you own cryptocurrency? And many people will say "no," and then I find out later they told me Well, I had a little bit I've never done any...
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November 16, 2022 1 min
Dr. Friday 0:00 Good 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. Dr. Friday 0:12 I am Dr. Friday, an enrolled agent licensed with the Internal Revenue Service to do taxes and representation. I do not work for the IRS. I work for you. I'm more like a shield between you and the IRS. So if you're having IRS issues, you hav...
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Dr. Friday 0:00 Good 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. Dr. Friday 0:12 Year-end tax planning tips. Let's do it. Do a trial run on your taxes just to see if you have enough money coming out of your W 4 may need to be adjusted. One reason is married or divorce. If you expect to have income that is not subjected to w...
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November 14, 2022 1 min
Dr. Friday 0:00 Good 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. Dr. Friday 0:12 How do you prepare for taxes? I mean, really. First thing, always has one place where you put all of the things that come in for you. Your mortgage interest statements, your 1095 A's if you're part of the marketplace, your W 2s, your stock ...
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Dr. Friday 0:00 Good 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. Dr. Friday 0:12 And I want to put a big thank you out to all of you that have served or are serving this wonderful country. Happy Veterans Day. And, and to be honest with you, any of them as my nonprofit is Dr. Fridays foundation. If you're having tax problems...
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November 10, 2022 1 min
Dr. Friday 0:00 Good 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. Dr. Friday 0:12 I am Dr. Friday, an enrolled agent licensed with the Internal Revenue Service to do taxes and representation. I do not work for the IRS. I work for you. I'm more like a shield between you and the IRS. So if you're having IRS issues, you hav...
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November 9, 2022 1 min
Dr. Friday 0:00 Good 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. Dr. Friday 0:12 And in this moment, I want to tell you to try to hold your stock for at least one year. The reason I say this is because in there we have what's called the capital gains tax rates. And guess what? Part of that is a 0% tax bracket. That's ri...
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Dr. Friday 0:00 Good 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. Dr. Friday 0:12 A charitable contribution is a big thing. And nowadays, people are having a harder time trying to meet those exclusions. I have found that many people are great, and I will tell you I have awesome clients who are very good about giving. But when sa...
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Dr. Friday 0:00 Good 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. Dr. Friday 0:12 Interest expense. Keep in mind that back on the Tax Cut and Jobs Act of 2017, they reduced the amount of mortgage interest that you can have. Many people basically sold their homes, and then they turn around and purchase a new home. Prior to that c...
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