Owning a car often comes with a lot of expenses, from gas and maintenance to insurance and registration fees. While some of these costs are clearly deductible on your taxes, such as business-related mileage or certain maintenance expenses, the question of whether you can deduct car registration fees is a bit more complex. Here’s a […]
Article from April 2024
Tax Fraud on the Dark Web
In today’s digital age, the internet offers incredible opportunities for communication, commerce, and connection. Yet, beneath the surface, there exists a shadowy corner known as the dark web, where illicit activities thrive. Among these dark deeds, tax fraud has emerged as a significant concern, impacting individuals and governments alike. Let’s take a closer look at […]
I Forgot to File State Taxes. Now What?
Every year like clockwork you conscientiously pay your state income taxes, but this year you spaced and missed the deadline. Don’t panic. Filing taxes can be a stressful task, and it’s not uncommon for people to forget deadlines or overlook certain tax obligations. If you find yourself in the situation where you forgot to file […]
What is Unearned Income?
In the world of taxation, income is broadly categorized into two main types: earned and unearned income. Earned income is derived from active participation in a trade or business. Conversely, unearned income encompasses various sources that don’t require direct effort or labor. This article explores the concept of unearned income, its sources, and how it […]
Where’s My Tax Refund?
Now that the April tax deadline has passed, you might be wondering, “Where’s my tax refund?” Optima CEO David King and Lead Tax Attorney Philip Hwang explain how you can track your refund, how long you have to collect your refund and how to stay compliant with the IRS. If You Need Tax Help, Contact […]