Tag: Optima

Key Takeaways  Above-the-line deductions reduce your income before Adjusted Gross Income (AGI) is calculated, directly lowering taxable income and potentially ...

Key Takeaways:   Most inherited retirement accounts are taxable. Distributions from traditional IRAs and 401(k)s are taxed as ordinary income, while ...

Key Takeaways  The IRS mileage rate 2026 is 72.5¢ per mile for business, 20.5¢ per mile for medical and qualified ...

Customer-first approach earns continued recognition for service excellence  Optima Tax Relief, the nation’s leading tax resolution firm, has been honored ...

Key Takeaways  Understanding therapist tax deductions helps reduce taxable income and reinvest in your practice. Ordinary and necessary expenses, like ...

Optima Tax Relief’s Chief Tax Officer and Lead Tax Attorney, Philip Hwang, recently appeared on the Tax Notes podcast to ...

Key Takeaways   Schedule C returns face higher audit risk because income and deductions are self-reported, making even small errors easy ...

Optima Tax Relief announced today that Philip Hwang, its Chief Tax Officer and Lead Tax Attorney, has been appointed National ...

Key Takeaways  Form 1099-B reports proceeds from the sale or exchange of investment property, including stocks, mutual funds, ETFs, bonds, options, and ...

Key Takeaways  The Big Beautiful Bill creates a temporary federal income tax deduction for qualified tip income, effective January 1, ...