Dr. Friday Radio Show – March 16, 2024 The Dr. Friday Radio Show

In this episode of the Dr. Friday Radio Show, Dr. Friday, a financial counselor and tax consultant, discusses various tax-related topics and answers caller questions. As the tax season is in full swing, Dr. Friday provides valuable insights and advice for listeners.

Topics covered:


Filing deadlines for different tax forms (1065, 1120S, 1120)
Consequences of missing tax deadlines and the importance of filing extensions
Beneficial Ownership Information Act compliance and penalties
Determining filing status for separated or divorced individuals
Deducting medical expenses and mileage related to hospital visits and care
Filing requirements for trusts and estates after a person’s death
Importance of keeping email addresses and cell phones active when handling an estate
Settling tax debts with the IRS and the offer in compromise process
Accurately reporting income and expenses on tax returns

Transcript
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No, no, no, she’s not a medical doctor, but she can sure cure your tax problems or your
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financial woes.
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She’s the how-to girl.
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It’s the Dr. Friday Show.
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If you have a question for Dr. Friday, call her now, 737-WWTN.
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That’s 737-9986.
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So here’s your host, financial counselor and tax consultant, Dr. Friday.
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G’day, I’m Dr. Friday and the doctor is in the house.
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We are going to talk about my favorite subject, it is the middle of tax season.
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And if you are a 1065, an 1120S and an 1120, in some cases, some 1120s can have it until
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next month.
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You have just missed a deadline if you did not file an extension.
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Because we’re due on the 15th for all 1065 and 1120Ss, unless you’re on a fiscal year
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end.
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So you need to make sure that you file your taxes.
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The penalties can be pretty steep.
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So again, making sure that you have filed your taxes and if not, an extension.
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That’s the same goes come April 15th for everything else, unless again, you’re on a physical year
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end, makes for you to basically need to file those extensions.
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It’s such a time saver, but more it’s a money saver, right?
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Because if you haven’t filed your taxes yet, then you’re in trouble when it comes to filing
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what you need to file for all of that.
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So again, if you have a question, you can reach us here in the studio at 615-737-9986.
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615-737-9986 is the number here in the studio.
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And many of you are probably working on taxes or maybe even working towards something that’s
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happening in 2024.
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It’s never too early to start thinking about how you&#821