Running a business often comes with financial ups and downs. Sometimes, expenses exceed revenue, resulting in a business loss. While this can be challenging, it’s important to report the loss correctly on your tax return. Properly claiming a business loss can help reduce your tax liability or even result in a refund. Understanding how to […]
Article from January 2025
Optima Newsletter – January 2025
Unfiled Tax Returns: What You Need to Know Filing tax returns is a fundamental responsibility of every taxpayer, yet many individuals find themselves with unfiled tax returns. This issue is not just a financial inconvenience—it carries significant legal implications. The IRS has robust mechanisms to address unfiled returns, and ignoring this obligation can lead to […]