Optima Tax Relief provides assistance to individuals struggling with unmanageable IRS tax burdens. To assess your tax situation and determine if you qualify for tax relief, contact us for a free consultation. The Earned Income Tax Credit (EITC) is known as a […]
Deducting Your Gambling Income & Losses
We all know the thrill of winning from gambling whether you’re an avid gambler or the occasional one. But did you know that all winnings are fully taxable? No matter how small your gambling winnings, they must be reported on your […]
What is the Difference Between Form 1099-Misc and 1099-K?
Optima Tax Relief provides assistance to individuals struggling with unmanageable IRS tax burdens. To assess your tax situation and determine if you qualify for tax relief, contact us for a free consultation. Being self-employed comes with a lot of benefits like being […]
How to Avoid Tax Fraud During Tax Season
Optima Tax Relief provides assistance to individuals struggling with unmanageable IRS tax burdens. To assess your tax situation and determine if you qualify for tax relief, contact us for a free consultation. Tax Season leaves many taxpayers vulnerable to identity theft and […]
What is the Minimum Income to File Taxes?
Do I Need to File a Federal Tax Return? More than 43% of Americans don’t have to file a federal tax return. Are you one of them? While the IRS expects to receive more than 150 million tax returns this year, it […]
Tips to Help Understand and Avoid Tax Scams
You’ve just received a notice from the IRS. It indicates that, after multiple attempts to get in touch with you, they are going to levy you. You start to panic; you don’t remember the IRS ever attempting to reach out to you. […]
Gambling Taxes & Casino Win-Loss Statements
In the last thirty years, gambling has changed its image from a quasi-legal activity to a major player in the economy. The IRS has responded accordingly, now requiring gambling winnings to be reported as a source of income, with losses deductible only […]
Save Tax Green By Going Green
If you are eco-conscious, you probably sort your disposables for recycling, wash your clothes in cold water, carry reusable shopping bags to the grocery or perform other environmentally-friendly actions. But did you know that you may also be eligible to receive tax […]
Tax Tips to Lower Taxes on Lotto Winnings
Who wins after every lotto draw? The taxman does, of course! Optima Tax Relief wants to help you save by providing tips for lowering taxes on your lotto winnings. How Much Are Lotto Winnings Taxed? Not only is the lottery a tax […]
Tax Deductions for Professional Gamblers
What could be better than winning $8.3 million at the World Series of Poker next week? Not paying taxes on all $8.3 million. Since a federal court ruling two years ago, there are tax deductions for professional gamblers similar to those for self-employed contractors […]