Optima Newsletter

What Happens If You Don’t File Your Taxes? The April 18th tax deadline passed, and you did not file your tax return. Now what? First, don’t panic. Not everyone needs to file a tax return. Typically, if you earn less than the standard […]

What is the IRS Collection Statute of Limitations? They say that death and taxes are the only two certainties in life. However, taxes are only collectible for so long. Did you know there is a statute of limitations for IRS collections? Here’s […]

Tax Planning for the Self-Employed Being your own boss can feel freeing and powerful, but with great power comes great responsibility, especially when it comes to taxes. Taking care of all business aspects on your own means you should be prepared to […]

Tax Credits vs. Tax Deductions Tax season is officially here. As you prepare to file your tax return, it might be helpful to research ways to decrease your tax liability. A popular way to do this is to claim tax credits and […]

Tax Tips for 2023 The 2023 tax filing season will be different than the past few years and getting prepared early can help make the process much easier. Some of the changes expected in 2023 could affect tax bills, which in turn […]

Tax Forms for Self-Employed Individuals Filing taxes when you are self-employed can be very complex. One of the ways you can better prepare yourself for the filing season is to ensure you have all the correct and relevant tax forms. Read More […]

Expenses You Didn’t Know Were Tax Deductible Tax deductions can help lower your tax bill and even increase your tax refund on your return. Here are seven tax deductions you might not know are deductible.  Read More How to Avoid Tax Scams […]

How Inflation Will Affect Your Taxes in 2023 Every year, the IRS makes inflation adjustments. With consistently high inflation in 2022, some experts are predicting larger adjustments than normal that can affect tax brackets in 2023.  Read More How Will the Inflation […]

Real Estate Investments & Tax Implications Real estate investments can be very complex, especially when it comes to tax reporting. However, there are general tax implications for common scenarios. Here, we will discuss some of these benefits: Read More What is Payroll […]

What is the Inflation Reduction Act? From a pandemic to inflation, American taxpayers haven’t been able to catch a break since 2020. To combat the current state of the economy, Senate has passed a new bill with a ten-year plan called the […]