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Ask Phil Video SeriesPublished on Jul 14, 2023
Today, Optima Tax Relief’s Lead Tax Attorney, Phil Hwang, discusses IRS notices, including when you can expect a notice to turn into enforcement and how to respond to a notice. When does the IRS Levy? Receiving an IRS notice can be very […]
Tax ReturnsPublished on Jul 13, 2023
Form 1099 is more common than ever with many taxpayers turning to side hustles for extra income. Now that we have a good understanding of what types of 1099s there are and what they are used for, we can review some of […]
Tax PlanningPublished on Jul 10, 2023
Last week we broke down deferred tax assets and how they can help reduce tax liability. Today, we’re breaking down its counterpart: deferred tax liabilities. But what exactly is a deferred tax liability, and how does it work? Here’s an overview of […]
Ask Phil Video SeriesPublished on Jul 7, 2023
Today, Optima Tax Relief’s Lead Tax Attorney, Phil Hwang, discusses tax scams, including how to spot them and how to avoid being conned. Tax fraud and scams are growing in popularity and have even recently taken on newer forms. Taxpayers are often […]
Tax PlanningPublished on Jul 6, 2023
When looking into the net worth of a business or individual, one of the first couple of things we look at are assets and liabilities. Assets are resources or properties owned by an individual, organization, or entity that have value. They can […]
Taxes & Your SavingsPublished on Jul 5, 2023
Most people dabble in gambling at some point in life. It might look like a day at the racetrack, a quick stop at the gas station for a lottery ticket, or a weekend in Las Vegas. The IRS views all these activities […]
Ask Phil Video SeriesPublished on Jun 30, 2023
Today, Optima Tax Relief’s Lead Tax Attorney, Phil Hwang, discusses levies and garnishments, including which assets the IRS can seize and how the IRS can garnish your wages. A levy is a legal seizure against your assets that results from owing back […]
Tax PlanningPublished on Jun 29, 2023
Tax time can be a stressful period for individuals and businesses alike. However, maintaining accurate and organized tax records throughout the year can make the process much smoother and alleviate unnecessary headaches. Whether you’re a freelancer, small business owner, or an individual […]
Ask Phil Video SeriesPublished on Jun 23, 2023
Today, Optima Tax Relief’s Lead Tax Attorney, Phil Hwang, discusses IRS enforcement, including the statute of limitations and how it might affect your credit report. Did you know the IRS has a certain amount of time to collect your tax debt before […]
Optima NewsletterPublished on Jun 22, 2023
Chapter 7 Bankruptcy and Taxes Bankruptcy is an exhausting process that individuals and corporations may have to go through when they are overburdened by financial obligations. While it provides the opportunity for a fresh start, it is critical to be mindful of […]
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