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.

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 haven’t filed back taxes, you need some place to start. I am local, so, therefore, you have someone that you can come in and talk with. Not like some of these big companies that you pick up the phone and “Oh, start sending us money!” Maybe or maybe not, they’ll help you. We’ll be able to find a resolution that will help you and also get the IRS off your back. Call me at 615-367-0819.

You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm on 99.7 WTN.

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.

This I like to think of is more of the hidden tax: the alternative minimum tax or AMT tax. A lot of people don’t really know about it until they actually have to pay for it. The tax cut and Jobs Act of 2017 increased the AMT exemption amounts, which really hadn’t changed in like 20 years. Now, it will actually go with inflation. But remember, AMT can kick into higher income interest income from private bonds, large capital gains, and exercising incentive stock options. That’s a huge one when your company gives you stock and you may have to pay AMT which is higher than capital gains rates.

You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm on 99.7 WTN.

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.

And one of the calls we received on the radio a few weeks ago came in, and they were talking about collectibles. This person had a baseball card that was going to be worth over a million dollars. And what he was thinking was long-term capital gains because he’s owned it for six/even years. And I had to correct him and say, “Hey, wait on collectibles, it goes up to 28%.” That’s right. So if you’ve got precious metals, you’ve got antiques, you have collectibles, the government looks at those differently than they look at stocks or other investments. So if you’ve got something that’s collectible and you’re thinking about selling it, you better call us at 615-367-0819.

You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm on 99.7 WTN.

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.

Adoption tax credit. For those who adopt a child, you can receive a credit of up to $14,440 is qualified adoption expenses are required for the year 2021. Or if you adopt a child with special needs, again, $14,440 is what you can adopt. And the perfect part about this guy is if you don’t need it in one year, it will roll over, so you won’t lose that adoption credit; you will be able to use it throughout the next year or two. So you know, for all those that do adopt, this is an awesome credit. You can reach me at 615-367-0819.

You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm on 99.7 WTN.

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.

People always ask me, “What’s the difference between a tax credit and a tax deduction?” And one can be a lot more effective than the other. For example, if you take a tax credit, that is a dollar-for-dollar deduction on your income, so if we say your tax liability is a tax credit of $1,000, you will reduce your taxes by $1,000. If I say you have a tax deduction of $1,000, that would be pinned on your tax bracket, which could mean that if you’re in the 22% tax bracket, you may save $220. Big difference. Do you need help with taxes? Call me at 615-367-0819.

You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm on 99.7 WTN.

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.

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 haven’t filed back taxes, you need some place to start. I am local, so, therefore, you have someone that you can come in and talk with. Not like some of these big companies that you pick up the phone and “Oh, start sending us money!” Maybe or maybe not, they’ll help you. We’ll be able to find a resolution that will help you and also get the IRS off your back. Call me at 615-367-0819.

You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm on 99.7 WTN.

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.

And today is April the 15th. The final day extensions need to be filed. Tax buttons need to be hit to E file taxes need to be paid. If you are thinking, “Well, I’ll just mail a check.” I’d say think twice, go to irs.gov, and then you can click on Pay and make the payment. I know you want to wait until the last minute for the IRS to get your money out of the bank. We have seen too many times where the IRS has lost those checks. If you need help today, call us at 615-367-0819, or you can check out the web at drfriday.com.

You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm on 99.7 WTN.

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.

If you are the president of an 1120 Corporation nonprofit, I would say now is the time if you have not filed those taxes; you should probably get your extension, and it’s due tomorrow. So you might as well go ahead and get a headstart. I’m filing those extensions. I know I’m always pushing extensions, but it’s a way to save tax penalties. And if right now you can’t file tax returns, be that a business or a person, and you fit into that criteria. Filing that extension gives us that little extra time to get together the tax records to go through and have my accountants or bookkeepers put together the information so we can give you a perfect tax return and save you tax money.

You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm on 99.7 WTN.

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.

If you can’t find your tax records at this point, you can go to irs.gov and pull up your transcripts. It’s a really cool little site, and it gives you the ability to pull up copies of W2’s, 1099, and mortgage statements. Also will show you if you have any open balances that you may or may not know of. Also, you can set up a payment plan on this, or you can figure out where and what you need to do to be in compliance with the IRS. It’s a wonderful tool. Again irs.gov. And then, you can sign on looking for your transcripts. This would be a great way for you to start doing your taxes correctly.

You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm on 99.7 WTN.

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.

And we are trying to review information on what should people be doing in the year 2022. We’re here. If you owe taxes and 2021, we need to make adjustments. If you’re thinking about doing a conversion, quitting a job, or taking other money out of retirement accounts, all of these different things will add up to how will affect your taxes. Preparing for that will help you understand how much money it costs, and keeping you in the 12% or the 22% tax bracket is what we’re very good at. And if you have a financial planner, let’s get together with all of them so we can try to find ways to save you tax dollars.

You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm on 99.7 WTN.