Podcast Episodes
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Understanding 2024 Auto Expense Deductions
Dr. Friday explains the 2024 auto mileage rates: 67 cents per mile for business, 21 cents for medical, and 14 cents for charity. Business owners can …
1 year, 2 months ago
Maximize Your Medical Expense Deductions
Dr. Friday discusses the challenges of itemizing medical expenses on your tax return. To deduct medical costs, they must exceed 7.5% of your adjusted…
1 year, 2 months ago
Understand the 2024 Child Tax Credit Changes
The 2024 Child Tax Credit has reverted to $2,000 per child after the temporary increase under the American Rescue Plan in 2021. Children over 17 qual…
1 year, 2 months ago
Maximize Savings with the 2024 Adoption Tax Credit
The 2024 Adoption Tax Credit offers adoptive parents up to $16,810 as a dollar-for-dollar reduction of their tax liability. Unlike deductions, this c…
1 year, 2 months ago
Understanding the Alternative Minimum Tax (AMT)
The Alternative Minimum Tax (AMT) can be confusing, especially when selling stocks or participating in employee stock ownership plans (ESOPs). Dr. Fr…
1 year, 2 months ago
Charitable Contributions: Maximizing Tax Benefits
Are you maximizing deductions for charitable donations? Dr. Friday explains the challenges of itemizing under the higher standard deduction, especial…
1 year, 2 months ago
Real Estate Sales: Tax Rules to Know
Thinking about selling real estate? Dr. Friday breaks down the tax implications for primary homes, investment properties, and 1031 exchanges. Learn a…
1 year, 2 months ago
Does Age Affect Your Tax Obligations?
Wondering if there’s an age when taxes stop? Dr. Friday busts the myth that seniors can avoid filing taxes based on age. Tax obligations depend on in…
1 year, 2 months ago
Gifting Money: What You Need to Know About Taxes
Did you know that gifting money to your children doesn’t offer a tax deduction? In this episode, Dr. Friday clarifies common misconceptions about mon…
1 year, 2 months ago
Flex vs. Health Savings Accounts: Maximize Tax Benefits
Dr. Friday outlines the key differences between flex savings accounts (FSA) and health savings accounts (HSA). While FSAs allow a rollover of only $6…
1 year, 2 months ago