Dr. Friday 0:00 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. Dr. Friday 0:12 It is April the 15th. Not everyone gets so excited about April the 15th. But you know, when you’re a tax nerd like I am, it is a big day for us and it’s a big day for almost everybody because if you have not filed, you need to be calling us right now at 615-367-0819 so we can file your extension for you. We will do it for free. We do not want people getting penalized for not filing their extensions. If you’ve already filed one or you filed your taxes, congratulations. One more year checked off. Hopefully, this year is going to be a much better, healthier, and safer year for all of you. I hope you guys all have a wonderful April the 15th. Announcer 0:52 You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.

Dr. Friday 0:00 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. Dr. Friday 0:12 Under the new Act that passed on the 21st of December 2020, many people started to qualify for additional unemployment benefits. That would have been a $300 additional weekly income for you. Remember, unemployment benefits are taxable. So you want to make sure that you’re having withholdings come out unless that is the only income you’re going to have for the whole year, which is a little hard to tell when it’s only the first quarter. So I would always suggest having at least a minimum amount of tax come out so you don’t end up having IRS issues just because you’re trying to survive when you’re unemployed. If you need more information, you could go to drfriday.com. Announcer 0:52 You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.

Dr. Friday 0:00 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. Dr. Friday 0:12 This year, you’re going to have $12,400 for a single filer and $24,800 for a married couple as our standard deduction. Now, if you haven’t filed your taxes you already probably based your information, but if you’ve already filed you’ve got that covered. But that number is very important because if you have a lot of property taxes, of course, we’re going to be locked into $10,000 in what we call the salt tax, right? So that’s your property taxes and sales tax in many state income taxes. So you want to make sure that you’re maximizing your taxes, but in some cases, you’re gonna be stuck with the standard deduction no matter what. If you need help, go to drfriday.com. Announcer 0:52 You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.

Dr. Friday 0:00 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. Dr. Friday 0:13 Interestingly enough, because you weren’t able to work a full schedule in 2020, you may have received some 1099’s for sick pay or money your employers paid you that came to you through a form called a 1099 NEC instead of your W2. Many people are asking is this actually going to be treated as earnings or is it just other income? It should be other income. This is usually a replacement for a family leave act or something like that that was paid through the COVID distributions. If you haven’t found it or you haven’t paid it, make sure you correct your taxes or call us at 615-367-0819. Announcer 0:52 You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.

Dr. Friday 0:00 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. Dr. Friday 0:12 I love this question. I get asked this question at least a few times every time I prepare a tax return every month. “Can I deduct my dog as a security system?” And I love it because I mean, I’m a dog lover. You guys all know that. I’ve got two beautiful Great Danes. And no, they are nothing more than my babies. That’s all they are. I would love to take their food bill off. Come on, guys. 180 pounds worth a dog isn’t exactly a cheap thing to feed. But that being said, if your dog is not actually walking around the outside of your building securely, and it’s not a family pet, then yes, it’s security. But if it’s your best buddy, sorry, you can’t deduct your pets. Announcer 0:52 You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.

Dr. Friday 0:00 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. Dr. Friday 0:12 Maybe you filed your tax returns back in February and another form shows up. You didn’t think you were gonna get it or maybe even it’s a corrected form. Many times our brokerage statements will come early on, and then they made a correction. And that correction is enough where you need to file a 1040X. You need to be the one telling the government, “Hey, I just received this information and I am updating my taxes and paying my fees.” So maybe that way they don’t charge you or wait two years and penalties and interest is now doubled what you owed in the first place. If you need help correcting or filing taxes, call us at 615-367-0819. Announcer 0:52 You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.

Dr. Friday 0:00 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. Dr. Friday 0:12 Tax time is almost done. If you haven’t filed your taxes you’re probably in the midst of them right now and you’re trying to figure out if you should be doing this. If you need help, you need to go to drfriday.com and set up a tax appointment if there’s any available. If you can’t, call us at 615-367-0819. Don’t forget, there are some changes this year. One of the big ones is a $300 charitable contribution deduction right off of 1040. Also, you need to report how much you received in stimulus money because if you didn’t get it last year, you’ll be getting it on your 2020 tax return. So if you need help again, go to drfriday.com. Announcer 0:52 You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.

Dr. Friday 0:00 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. Dr. Friday 0:12 What happens if you’re looking at your tax forms and you just found out that there’s a mistake? Someone either 1099’d you for too much money, too little money. They have the wrong categories on your 1099 Rs. You did someone’s W2 and the information, the address the name, the social security number are wrong. What should you be doing? If you’re the employer, It’s a pretty straight answer, you need to do an amended W2 or 1099. But what happens if you’re the receiver? What if you can’t get a hold of the employer? Well, guess what, there are forms that you can file that would correct that information. If you’re unable to correct it through your employer. If you need help, go to Drfriday.com. Announcer 0:52 You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.

Dr. Friday 0:00 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. Dr. Friday 0:13 If you bought a new car in 2020, and let’s say it’s a beautiful SUV, around $60,000. And you know what? That would be an awesome tax deduction on your business return. Can you take it? Let’s think about this. Is it your only vehicle? Does the company you’re doing require you to have a vehicle? These are important questions because if the car isn’t really being used to generate or produce income for you, you’re not entitled to taking this deduction just because you’ve got a beautiful SUV. If you need help, you need to call me at 615-367-0819. Announcer 0:52 You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.

Dr. Friday 0:00 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. Dr. Friday 0:12 We are here to talk about taxes. I’m an enrolled agent licensed by the Internal Revenue Service to do taxes and representation. Which just means guys, I’m here to help you. I’m here to represent you in front of the IRS. You need someone on your side. It is not easy when you get behind on taxes. I totally relate to what that is and how hard it is to get back on your feet. But there are ways there are systems and I can help you find that system that’s going to work for you. But the first thing you have to do is you have to go to drfriday.com. And you have to click on “appointment” and you have to set up an appointment for me to get with you and it’s a free appointment! So there’s no excuse not to have that conversation. Announcer 0:52 You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.