Podcast Episodes
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What Qualifies as a Business Expense?
Dr. Friday explains what qualifies as a legitimate business expense and highlights common misconceptions. She warns against claiming personal trips a…
1 year, 2 months ago
Understanding Income: What Needs to Be Reported?
In this episode, Dr. Friday breaks down what counts as taxable income and clears up common misconceptions. She emphasizes the importance of reporting…
1 year, 2 months ago
1099 Filing Requirements: Stay IRS Compliant
The 1099 filing deadline has passed—did you file yours? Businesses must issue 1099-NEC, 1099-MISC, and 1099-INT forms for payments over $600. However…
1 year, 2 months ago
Tax Compliance for Nonprofits: 990 Filing Rules
Nonprofits and 501(c)(3) organizations must file Form 990 annually to maintain tax-exempt status. If a nonprofit fails to file for three consecutive …
1 year, 2 months ago
Claiming College Tax Credits: 1098-T & 529 Plans
If you or your child is in college, don’t miss out on valuable education tax credits! To qualify, you need Form 1098-T, which details tuition payment…
1 year, 2 months ago
Tax Preparation Tips: Avoid Amended Returns
Tax season is in full swing! If you haven’t made your tax appointment yet, visit drfriday.com and schedule one today. Before filing, ensure you have …
1 year, 2 months ago
Reporting Income Correctly: 1099s and Audits
Waiting for a 1099 form before reporting your income? That’s not how it works! The IRS requires you to report all earned income, regardless of whethe…
1 year, 2 months ago
Understanding Casualty Losses for Tax Deductions
Casualty loss deductions have changed significantly over the years. Previously, if your insurance didn’t fully cover a fire or other loss, you could …
1 year, 2 months ago
Mortgage Interest Deductions for Primary and Second Homes
Dr. Friday discusses mortgage interest deductions for primary and secondary homes. Mortgages over $750,000 are only deductible for the first $750,000…
1 year, 2 months ago
Deducting Health Insurance Premiums for the Self-Employed
Self-employed individuals, including partners and S-corporation employees, can deduct 100% of their health insurance premiums above the line. This ta…
1 year, 2 months ago