Dr. Friday Radio Show – April 17, 2021

Another episode of the Dr. Friday Radio Show! In this episode, host John Haggard talks with Dr. Friday about all the updates on taxes and the following topics:

• New Tax Filing Deadline Is May 17, 2021
• First Quarterly Taxes and Other State Taxes Due April 15, 2021
• “I Haven’t Filed Taxes In Years. Why Did I Receive My Stimulus Checks?”
• What Qualifies For a 179 Deduction?
• “Under What Conditions Does a Driver Qualify as an Independent Contractor?”
• Tax Extention Date Will Be Extended
• If You Didn’t Recieve Stimulus 1 or 2, You Can Claim Them On 2020 Tax Return
• Do You Need Help With Tax Representation? Call Dr. Friday

and answers other caller’s questions!

Transcript

Announcer 0:01 No, no, no, she’s not a medical doctor, but she can sure cure your tax problems or your financial woes. She’s the how-to girl. It’s the Dr. Friday show. If you have a question for Dr. Friday, call her now at 615-737-9986. So here’s your host, financial counselor, and tax consultant, Dr. Friday.

John Haggard 0:30 Live from America’s Music City, it may be Saturday where you are but it’s Friday, all day, every day, all the time with the tax doctor, the tax lady, the doctor of accounting known in these parts of America as Dr.Friday. Right here she is. Hello, Dr. Friday.

Dr. Friday 0:47 Hello, John. What an intro. I always love when you host my show. You’re so enthusiastic about my name.

John Haggard 0:53 Well, we’ve had such a fun time, and boy, do we need you more than ever? What’s getting ready to come up here a lot of activity they’ve extended. You know the tax filing deadline. Is there any breaking news doctor Friday, anything that you’re hearing on the inside about what might happen with the tax code for 2021? Does anybody have an idea?

Dr. Friday 1:15 I don’t think anyone has a good idea. But I did want to jump in because I know they extended obviously till May 17, the 2020 tax filing. But they did not extend making your estimated tax payments for 2021. It was due on the 15th. So a lot of people did not realize they thought everything got extended. Also business license, franchise excise tax, anything that had a deadline pretty much for April 15. On the state side, many of those did not get extended. So you want to be very careful about thinking that you made things on time. If you haven’t filed your first quarterly for example, John, you’re self-employed, I’m assuming, like myself, and so we have to pay those. Those were due on the 15th. They did not extend them out to May 17.

John Haggard 2:04 Well, folks, now did you hear that? Because most people or a lot of people would have thought, well, “I’ve got until May!” Well, no you don’t. Based on what Dr. Friday said. You know what’s interesting, the government always wants their money on time. They’ll take the paperwork a little bit later.

Dr. Friday 2:23 Correct. They want their money early, not late. They definitely, I think it’s a great way to explain, anything we do most of the time, from the tax standpoint, we’re really just following up with paperwork. They want people to be paying their taxes on a monthly or quarterly basis.

John Haggard 2:37 Early and often. Right?

Dr. Friday 2:41 So true.

John Haggard 2:42 Folks, you’re listening to the Dr. Friday show. Every single week someone will be tuning across the dial or on the internet or something. So what is this? What are you listening to? Well, this is an advice show and not only advice, but you can actually get work done and get a consultation don