How Inflation Will Affect Your Taxes in 2023 Every year, the IRS makes inflation adjustments. With consistently high inflation in 2022, some experts are predicting larger adjustments than normal that can affect tax brackets in 2023. Read More How Will the Inflation Reduction Act Affect Your Taxes? With the recent passing of The Inflation Reduction […]
Optima Newsletter
Optima Newsletter – September 2022
Real Estate Investments & Tax Implications Real estate investments can be very complex, especially when it comes to tax reporting. However, there are general tax implications for common scenarios. Here, we will discuss some of these benefits: Read More What is Payroll Tax? Who is responsible for payroll taxes? CEO David King and Lead Tax […]
Optima Newsletter – August 2022
What is the Inflation Reduction Act? From a pandemic to inflation, American taxpayers haven’t been able to catch a break since 2020. To combat the current state of the economy, Senate has passed a new bill with a ten-year plan called the Inflation Reduction Act. Read More How Filing an Extension Affects Your Taxes With […]
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 […]
Optima Newsletter – June 2022
Can the IRS Automatically Complete Tax Returns? A new study shows that the IRS may be able to complete nearly half of the nation’s tax returns automatically. The study proves that over 60 million pre-populated tax returns can be correctly auto filled with information that the IRS previously collected. What if I Can’t Pay My […]
Optima Newsletter – May 2022
IRS Unclaimed Tax Refunds The IRS announced that it has $1.5 billion in tax refunds from 2018 and gave taxpayers until the end of the season to claim their money. If you missed out on claiming your refund, there are steps you can take to make sure you claim other refunds from 2019 and […]