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Tax PlanningPublished on Jul 31, 2023
Life can be challenging when facing both financial difficulties and health issues. Many taxpayers ask themselves, “Can I get disability if I owe back taxes?” For individuals experiencing a debilitating condition while also owing back taxes, the situation can seem overwhelming. However, […]
Ask Phil Video SeriesPublished on Jul 28, 2023
Today, Optima Tax Relief’s Lead Tax Attorney, Phil Hwang, discusses the most common tax forms every taxpayer should know about. Tax Form 1040 or 1040-X The well-known U.S. Individual Income Tax Return, Form 1040 is what you will use to report both […]
Tax and IRS NewsPublished on Jul 27, 2023
Social Security, a cornerstone of America’s safety net, has been providing financial support to millions of retirees, disabled individuals, and surviving family members for decades. However, as our society undergoes demographic shifts and economic challenges, it has become increasingly evident that the […]
Tax PlanningPublished on Jul 26, 2023
Whether you are a small business owner hiring independent contractors or a freelancer seeking work opportunities, the W-9 form plays a crucial role in the world of taxes. The IRS uses this form to gather essential information about independent contractors, consultants, and […]
Tax PlanningPublished on Jul 25, 2023
Dealing with debt can be a stressful and overwhelming experience. Imagine, though, finally having a weight lifted off your shoulders when a creditor cancels or forgives a portion of your outstanding debt. While the relief might be immense, it’s essential to understand […]
Ask Phil Video SeriesPublished on Jul 21, 2023
Today, Optima Tax Relief’s Lead Tax Attorney, Phil Hwang, discusses his 5 top tips for how to avoid an IRS audit. File Your Taxes: Some taxpayers don’t file because they think they don’t have to. The minimum requirement to file a tax […]
Optima NewsletterPublished on Jul 20, 2023
Am I Responsible for My Spouse’s Back Taxes? Marriage is viewed as a union of two individuals, joining both their lives and responsibilities. As financial obligations and responsibilities intertwine, questions arise about whether one spouse is accountable for the other’s past tax […]
Tax PlanningPublished on Jul 19, 2023
When it comes to filing taxes as a resident or non-resident alien, the first step is determining your alien status for tax purposes. If you satisfy the requirements of either the IRS green card test or the substantial presence test, you will […]
Tax PlanningPublished on Jul 18, 2023
Did you know you are required to pay taxes on your income even if you are not an American citizen? The same is true even if you spend some of your time abroad. One important thing to note, however, is the way […]
Taxes & Your SavingsPublished on Jul 17, 2023
Most taxpayers are used to seeing the term adjusted gross income, or AGI, when filing their tax returns. This is mostly due to the fact that your AGI dictates which tax credits and deductions you qualify for. While the term modified adjusted […]
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