Renting out your property as an Airbnb can be a good way to secure residual income. While Airbnb may send you a tax form at the end of the year. It’s important to understand your tax responsibilities to check for errors and in the event you aren’t issued a form. Reporting Airbnb or Vacation Rental […]
How Filing for an Extension Affects Your Taxes
With a massive increase in taxpayers filing for an extension, what does this mean for people who owe? How does the extension deadline work? Hosts CEO David King and Lead Tax Attorney Philip Hwang discuss these details and more in this week’s episode. Optima Tax Relief is the nation’s leading tax resolution firm with over […]
Optima Newsletter – July: How the Economy Affects Your Taxes
How the Economy and Inflation Affect Your Taxes The IRS updates certain tax provisions annually to account for inflation, so your tax and investment plans should change accordingly. How to Avoid Having Your Tax Refund Garnished CEO David King and Lead Tax Attorney Phil Hwang discuss these circumstances and what you should do if you’re […]
How to Avoid Having Your Tax Refund Garnished
Worried about the IRS garnishing your refund? There are a few instances where this could happen. CEO David King and Lead Tax Attorney Phil Hwang discuss these circumstances and what you should do if you’re thinking your refund could be at risk for IRS seizure. If You Need Tax Help, Contact Us Today for a Free […]
New Consequences of Payroll Tax Liability
The responsibility of payroll taxes falls on the shoulders of employers, although they come from employee paychecks. The federal government, Social Security and Medicare heavily rely on taxes from employee wages. IRS revenue officers are now tracking how unpaid payroll taxes were spent during their “trust fund investigation.” Payroll Taxes Used for the Employer’s Benefit […]