Today, Optima Tax Relief’s Lead Tax Attorney, Phil Hwang, discusses marriage and taxes, including filing status options. Married couples have two different options for filing their taxes: married filing jointly and married filing separately. If you choose to file jointly with your spouse, you will both be jointly and severally liable for the full tax […]
Article from September 2023
How to Choose a Tax Professional
Tax season can be a stressful time for many individuals and businesses. Navigating the complex world of tax regulations, deductions, and credits can be overwhelming, and the consequences of making mistakes can be costly. That’s why many people turn to tax professionals for assistance. Choosing the right tax professional is crucial to ensure your financial […]
How to Secure Your Financial and Tax Documents
Tax and financial documents are some of the most sensitive and valuable records you possess. They contain critical information about your income, assets, and financial history, making them prime targets for identity thieves and fraudsters. Protecting these documents is not only essential for your financial well-being but also for safeguarding your personal information. In this […]
What You Need to Know About Hiring Your Kids for Work
As a parent, you may be looking for opportunities to teach your children valuable life lessons, including those related to money and work ethic. One unique way to do this is by hiring your kids for work within your family business or household. Not only can this provide your children with valuable skills and experience, […]
Ask Phil: Do I Qualify for the Employee Retention Credit?
Today, Optima Tax Relief’s Lead Tax Attorney, Phil Hwang, discusses the Employee Retention Credit (ERC), including the rise in scams surrounding the credit. The ERC is a tax credit that provides financial relief to businesses that have experienced economic hardships due to COVID-19. It encourages employers to retain their employees on payroll by offering a […]