Filing your taxes can be stressful. Filing at the last minute can only add to the stress. As April 15th looms closer, the annual flurry of last-minute tax filers begins. Whether due to procrastination or complexity, many individuals find themselves scrambling to […]
What If I Can’t Pay My Taxes?
Every year, millions of individuals and businesses face the intimidating task of paying their taxes. However, there are instances where meeting this financial obligation becomes challenging or even impossible. There are times when you might’ve asked yourself, “What if I can’t pay […]
Ask Phil: Tips To Avoid Levies & Liens
Today, Phil gives his top tips on how to avoid IRS levies and liens. Tip #1: Don’t Owe the IRS Avoiding owing the IRS begins with responsible financial management and proactive tax planning. First, maintain accurate records of all income and expenses […]
Tax Guide for Clergy Members
Tax season can be a stressful time for many individuals, but for clergy members, it often comes with its own set of unique challenges and considerations. Whether you’re a minister, priest, rabbi, imam, or any other religious leader, understanding the intricacies of […]
Are You a High-Income Non-Filer? Beware of IRS Collections in 2024
IRS enforcement is back in full effect. In January 2024, the IRS began sending collections notices to individuals and businesses alike. Now they are also turning attention to high-earners who failed to file tax returns between 2017 and 2021. Optima CEO David […]
Optima Newsletter – April 2024
What is Injured Spouse Relief? When couples file joint tax returns, they often expect to share both the benefits and the burdens of taxation equally. However, situations can arise where one spouse’s debts or obligations lead to the entire tax refund being […]
What is Injured Spouse Relief?
When couples file joint tax returns, they often expect to share both the benefits and the burdens of taxation equally. However, situations can arise where one spouse’s debts or obligations lead to the entire tax refund being withheld to cover them. We’ve […]
Should I File a Tax Extension?
The tax filing deadline is just around the corner. If you need more time to prepare your tax return, you can file a tax extension. While a tax extension won’t give you more time to pay your taxes, it will allow a […]
What To Do If Your Tax Refund is Stolen
Tax season is a time of anticipation for many individuals, with the hope of receiving a tax refund. However, the unfortunate reality is that tax refunds, like any valuable document, can be vulnerable to theft. If you find yourself in the distressing […]
Are Employee Stock Options Considered Income?
Employee stock options (ESOs) have long been a cornerstone of compensation packages offered by companies. They are particularly common in the realm of technology and startups. ESOs represent a unique opportunity for employees to share in the success of the company they […]