$150 Off + 2 extra months free
- Tax attorneys and agents available
- Offers free consultation
- Excellent long track record and reputation
- Dedicated professional case managers
- Offers variety of services
- Some services are very expensive
- $10,000 or more in debt required
- Cost disclosure not transparent
Doing taxes on your own, especially when you don’t have a background in finance or accounting, can be quite a daunting task. Nowadays, you don’t have to deal with the humongous responsibility of filing your taxes by yourself. There are firms like Optima Tax Relief that offer services to help taxpayers with their filings. The company was established in 1982 and is now the top two largest tax preparation firms in the US. They have almost 6,000 locations across the states. This allows clients to file their taxes in person with help from an expert online or at a local branch. Before you head on over to one of their offices, here’s what you need to know about them.
There are free filing programs available but if you don’t qualify for these programs, you can rely on Optima Tax Relief to handle tax preparation for you. With the help of their software, it becomes easy, quick, and simple to prepare tax returns. You will be guided step by step with a user-friendly interface.
If you’re someone who cannot choose between different package offers, there’s good news for you. Optima offers a basic package that costs $25 which you can use for unlimited state returns and a single federal return. However, there are no free packages that you can test out if you’re still apprehensive. They also offer the services of a tax expert but you’ll need to visit a physical office to book this service. The fees will be determined after your consultation.
New customers will be asked to create an account and provide some basic information before they can choose between the DIY package and the expert help. If you select the DIY option, you’ll be asked some additional questions and then you will be guided through the steps of the filing process.
Optima will provide a document checklist to help you prepare the requirements before you file taxes. Tax returns are stored securely for three years so you can still access them if you need to. There is a $20,000 accuracy guarantee for errors in their calculations. However, if you provided the wrong information, you’ll have to shoulder the consequences alone. Optima has a mobile app that you can use to track the status of your tax filing anytime.
One disadvantage of using the software is that there is no free version for more common scenarios such as filing W-2s. This limitation might cause customers to look for other companies that offer the service for free instead of paying $25 for a package they won’t maximize.
Optima Tax Relief mostly offers services with tax filing but they can also help taxpayers who have problems with the IRS. If your case is something they can work on, they will help you get out of the sticky situation. Instead of corresponding with the IRS directly, you’ll have a representative to help you get the best solution.
There are situations in life that could make you financially incapable of paying your taxes. The government created tax relief programs for this purpose. There are several kinds of tax relief programs so you should look at the differences in the event you or someone you know would ever need the service. In any case, tax relief companies can help you find the best programs for your situation.
There are incomes or expenses that can be removed from your taxable income and become non-taxable. The most popular type of exclusion is health insurance sponsored by your employer. Death benefits and child support expenses are also excluded from taxable income.
Tax deductions are itemized or standard. Standard tax deductions are accessible by almost everyone and are based on factors such as age, income, and status. These deductions typically vary per year and are offered to single citizens, blind citizens, citizens over 65, household heads, and surviving spouses. Married people can also get standard tax deductions but it will depend on how the couple files, whether together or separate.
Meanwhile, itemized tax deductions list specific expenses that can be deducted from the income when filing taxes. You cannot benefit from both an itemized and standardized deduction simultaneously.
Tax credits are also relief solutions. Instead of reducing your taxable income, you get a lower tax amount owed. Tax credits are considered more advantageous than deductions by a lot of people. The most popular tax credits available are AOTC and LLC relief programs, the saver’s tax, child tax credit, and the EITC program.
All these relief programs are designed to help individuals pay their taxes. Each program has its advantage and it will depend on the taxpayer’s situation which one is most beneficial for them.
