California Tax Rates, Incentives & Exemptions As the most populous state in the union, California attracts new residents from all over the country and around the world. From the glow of Tinseltown to the technological buzz of Silicon Valley, dreamers and entrepreneurs alike are drawn to the state. But California is also one of the […]
How to Qualify for the Earned Income Tax Credit
Optima Tax Relief provides assistance to individuals struggling with unmanageable IRS tax burdens. To assess your tax situation and determine if you qualify for tax relief, contact us for a free consultation. The Earned Income Tax Credit (EITC) is known as a refundable tax credit that applies to low and moderate-income workers. For those who […]
Deducting Your Gambling Income & Losses
We all know the thrill of winning from gambling whether you’re an avid gambler or the occasional one. But did you know that all winnings are fully taxable? No matter how small your gambling winnings, they must be reported on your tax return. Gambling income includes- but not limited to- winnings from lotteries, keno, […]
What is the Difference Between Form 1099-Misc and 1099-K?
Optima Tax Relief provides assistance to individuals struggling with unmanageable IRS tax burdens. To assess your tax situation and determine if you qualify for tax relief, contact us for a free consultation. Being self-employed comes with a lot of benefits like being your own boss and making your own hours. Although there are a lot […]
How to Avoid Tax Fraud During Tax Season
Optima Tax Relief provides assistance to individuals struggling with unmanageable IRS tax burdens. To assess your tax situation and determine if you qualify for tax relief, contact us for a free consultation. Tax Season leaves many taxpayers vulnerable to identity theft and scammers. Scammers can pose as tax preparers and steal your personal information. Protect […]
What is the Minimum Income to File Taxes?
Do I Need to File a Federal Tax Return? More than 43% of Americans don’t have to file a federal tax return. Are you one of them? While the IRS expects to receive more than 150 million tax returns this year, it is estimated that nearly 43% of Americans don’t have to file a federal […]