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Tax PlanningPublished on Aug 23, 2023
Donor-Advised Funds (DAFs) have emerged as a powerful tool that not only allows philanthropists to make a positive impact but also offers substantial tax benefits. By understanding the advantages of DAFs, you can optimize your giving strategy for the causes you care […]
Ask Phil Video SeriesPublished on Aug 18, 2023
Today, Optima Tax Relief’s Lead Tax Attorney, Phil Hwang, discusses an important update regarding surprise RO visits. The IRS just announced that it is discontinuing home visits as an enforcement method. This means the days of intimidating revenue officers (ROs) knocking on […]
Optima NewsletterPublished on Aug 17, 2023
Tax Tips for Seniors and Retirees As the golden years approach, seniors and retirees face a new set of financial challenges, with tax planning becoming increasingly important. Understanding the tax implications of retirement income sources, investments, and deductions can significantly impact a […]
Tax PlanningPublished on Aug 17, 2023
When it comes to taxes, the old adage “location, location, location” takes on a new meaning. State residency plays a significant role in determining the taxes you owe, as each state has its own tax laws, rates, and regulations. Things get even […]
Tax Help VideosPublished on Aug 15, 2023
The IRS recently announced it is ending its longstanding practice of surprise in-person visits to taxpayers. Optima CEO David King and Lead Tax Attorney Philip Hwang provide helpful insight on what communication you can expect to receive from a Revenue Officer moving […]
Ask Phil Video SeriesPublished on Aug 11, 2023
Today, Optima Tax Relief’s Lead Tax Attorney, Phil Hwang, discusses maximizing tax deductions. Everyone wants a big refund. So, how do we know we’re maximizing our deductions to accomplish this? It depends on whether you choose to take the standard deduction or […]
Ask Phil Video SeriesPublished on Aug 4, 2023
Today, Optima Tax Relief’s Lead Tax Attorney, Phil Hwang, discusses private collection agencies, otherwise known as PCAs. Unbeknownst to some taxpayers, the IRS doesn’t always collect taxes on their own. Sometimes they hire private collection agencies (PCAs). The IRS contracts these agencies […]
Tax and IRS NewsPublished on Aug 3, 2023
We often discuss federal taxes here, from tax filings to deductions and credits. However, it’s important to note that federal taxes are typically only one half of a taxpayer’s responsibility. In addition to filing and paying federal taxes each year, taxpayers must […]
Tax Help VideosPublished on Aug 1, 2023
The IRS has $1.5 billion in unclaimed tax refunds for tax year 2019 and the deadline to file is approaching quickly. Optima CEO David King and Lead Tax Attorney Philip Hwang provide helpful tips on how to find out if you’re eligible […]
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, […]
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