Freelance writing offers flexibility, creativity, and independence, but it also comes with tax responsibilities that traditional employees don’t face. The good news is that there are numerous freelance writer tax deductions available that can significantly reduce your taxable income if you know what to claim. Many freelance writers leave money on the table simply because they are unsure what qualifies as […]
Article from April 2026
The Tax Consequences of Winning the Lottery or a Big Prize
Winning the lottery or a big prize can be lifechanging, whether it’s a multimillion-dollar jackpot, a luxury car, or a once-in-a-lifetime vacation. However, what many winners don’t realize is that a major portion of their prize will never make it into their bank accounts because of taxes. The tax consequences of winning the lottery are […]
IRS Penalty Abatement Help: How a Tax Pro Can Help
IRS penalties can quickly turn a manageable tax obligation into a stressful financial burden. Many taxpayers do not realize that missed filing deadlines, underpayments, or even simple mistakes can trigger penalties and compounding interest. The good news is that the IRS offers options for relief, known as IRS penalty abatement, which can reduce or even remove these extra charges. However, navigating this process […]
Schedule 1, 2, and 3 Explained for Individual Filers
Filing your taxes begins with Form 1040, but for many taxpayers, that form is only part of the full picture. If your financial situation includes anything beyond basic wages and the standard deduction, you’ll likely encounter additional forms known as schedules. These schedules provide the IRS with a more detailed breakdown of your income, taxes, and credits. If you’ve been asking what are schedules 1 2 and 3 for taxes, the answer is simple: they expand your […]
Optima Tax Relief CEO Speaks to ABC7 About Growing Tax Identity Theft Risks
As the tax filing deadline draws near, a growing threat is quietly impacting taxpayers across the country: tax identity theft. It’s a problem that often goes unnoticed until it’s too late—and resolving it can be a long and frustrating process. Recently, our CEO, David King, spoke with ABC7 about what’s happening on the front lines. At Optima Tax Relief, teams process tens of thousands of IRS notices every […]