Dr. Friday Tax Tips

<p>Dr. Friday discusses opportunity zones as another way to defer capital gains. She notes timing rules and longer holding periods can be key to the tax outcome.</p> <p>Transcript</p> <p>G’day, I’m Dr. Friday, president...

<p>Dr. Friday explains standard depreciation periods for residential and commercial rentals. She also covers cost segregation benefits and why recapture should be part of long-term planning.</p> <p>Transcript</p>...

<p>Dr. Friday reviews the core 1031 like-kind exchange rule for real estate investors. She explains how reinvesting proceeds can defer capital gains instead of paying tax immediately.</p> <p>Transcript</p> <p>G’day, I’m...

<p>Dr. Friday discusses step-up in basis and why timing of transfers can affect taxes. She notes that gifting during life can sometimes leave tax savings on the table.</p> <p>Transcript</p> <p>G’day, I’m Dr. Friday...

<p>Dr. Friday explains that the adoption tax credit remains available with inflation adjustments. She highlights that unused credit can carry forward for up to five years.</p> <p>Transcript</p> <p>G’day, I’m Dr. Friday...

<p>Dr. Friday uses an April Fool’s joke to remind listeners that taxes are still very real. She also points out that Congress makes tax law and encourages filers to handle extensions and tax planning on time.</p>...

<p>Dr. Friday reviews home energy improvement credits and annual limits for items like HVAC and windows. She explains why receipts and manufacturer certificates are critical for claiming the credit.</p>...

<p>Dr. Friday explains how alimony tax treatment differs depending on divorce date. She notes that most post-2018 agreements are no longer deductible to the payer.</p> <p>Transcript</p> <p>G’day, I’m Dr. Friday...

<p>Dr. Friday explains documentation thresholds for charitable gifts of cash and property. She warns that larger non-cash donations can be disallowed without proper appraisal support.</p> <p>Transcript</p> <p>G’day, I’m...

<p>Dr. Friday explains that Social Security benefit taxation remains unchanged, with up to 85% potentially taxable. She also highlights qualified charitable distributions as a way some retirees can lower taxes.</p>...

<p>Dr. Friday reminds taxpayers they can still fund a traditional or Roth IRA up to tax day. She explains that the best choice depends on long-term planning, not just this year’s deduction.</p> <p>Transcript</p>...

<p>Dr. Friday discusses a program she describes as Trump Savings for children born during eligible years. She explains the reported $1,000 initial funding and possible annual parent contributions.</p> <p>Transcript</p>...

<p>Dr. Friday explains the Saver’s Credit and how it is expected to transition under SECURE 2.0. She notes the benefit is mainly aimed at lower-income savers, especially workers just getting started.</p>...

<p>Dr. Friday explains that qualified student loan interest may still be deductible up to annual limits. She also covers income restrictions and why documentation is required.</p> <p>Transcript</p> <p>G’day, I’m Dr...

<p>Dr. Friday reviews the American Opportunity and Lifetime Learning credits and who they can benefit. She highlights the need for Form 1098-T and notes that rising tuition makes these credits more important.</p>...