Optima Newsletter

What Happens If You Don’t File Your Taxes? The April 18th tax deadline passed, and you did not file your tax return. Now what? First, don’t panic. Not everyone needs to file a tax return. Typically, if you earn less than the standard deduction associated with your filing status, you do not need to file a […]

What is the IRS Collection Statute of Limitations? They say that death and taxes are the only two certainties in life. However, taxes are only collectible for so long. Did you know there is a statute of limitations for IRS collections? Here’s an overview of how the IRS statute of limitations works.  Read More How […]

Tax Planning for the Self-Employed Being your own boss can feel freeing and powerful, but with great power comes great responsibility, especially when it comes to taxes. Taking care of all business aspects on your own means you should be prepared to handle all the financial work that comes with the new adventure. Here’s a […]

Tax Credits vs. Tax Deductions Tax season is officially here. As you prepare to file your tax return, it might be helpful to research ways to decrease your tax liability. A popular way to do this is to claim tax credits and tax deductions. Credits and deductions often seem like the same thing, but they […]

Tax Tips for 2023 The 2023 tax filing season will be different than the past few years and getting prepared early can help make the process much easier. Some of the changes expected in 2023 could affect tax bills, which in turn could affect tax refunds. Here are some tax tips for 2023.   Read More […]

Tax Forms for Self-Employed Individuals Filing taxes when you are self-employed can be very complex. One of the ways you can better prepare yourself for the filing season is to ensure you have all the correct and relevant tax forms. Read More An Update on Fed Rate Hikes American households have been feeling the full […]