MEDZAM CONSULTING

What Business Owners Should Know About Owner Compensation

What Business Owners Should Know About Owner Compensation

• • Business, Investment

One of the most common questions business owners ask is: “What’s the best way to pay myself?”. The answer depends largely on your business structure, profitability, tax situation, and long-term financial goals. Paying yourself incorrectly can lead to tax problems, cash flow issues, or compliance concerns — especially as your business grows. Different Business Structures Handle […]

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Understanding Why Cash Flow Problems Happen Even When You're Making Money

Understanding Why Cash Flow Problems Happen Even When You’re Making Money

• • Business, Investment

One of the most common financial frustrations for both business owners and individuals is feeling like there should be enough money available — yet the bank account says otherwise. A business may be profitable but still struggle to pay bills on time. Similarly, an individual may earn a good income but still feel constantly short

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IRS Notices & Letters: What to Do When You Receive One 

• • Business, IRS, Taxes

Receiving a letter from the IRS can feel stressful for both individuals and business owners. Fortunately, most IRS notices are routine and can often be resolved quickly when handled promptly and correctly. The most important thing to remember: don’t ignore IRS correspondence. Why the IRS Sends Notices The IRS sends letters and notices for many reasons, including,

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Washington State May Introduce an Income Tax for Individuals: What You Should Know

Washington State May Introduce an Income Tax for Individuals: What You Should Know

• • Taxes

For decades, Washington has stood out as one of the few U.S. states without a personal income tax. That could change soon. In early 2026, state lawmakers introduced legislation proposing a new income tax on households earning over $1 million annually, often referred to as the “Millionaires Tax.” Key Details of the Proposal: If the proposed Washington State

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Traveling for Business? Read This First

Traveling for Business? Read This First

• • Business, Investment, Taxes

If you’re planning any business travel this year — conferences, client meetings, networking events, or even scouting new opportunities — this is something you’ll want to review first. Business travel can create valuable tax deductions… but only when it’s handled correctly. We regularly see business owners miss deductions because they didn’t keep proper documentation — or

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Your Quarterly Business Roadmap for an Improved Fiscal Year

Your Quarterly Business Roadmap for an Improved Fiscal Year

• • Business, Taxes

Running a business requires more than just staying busy — it requires staying proactive. One of the biggest differences we see between businesses that feel in control and those that feel constantly behind is simple: they work on their business quarterly, not just during tax season. To help you stay ahead, we have created a simple Quarterly

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❤️Valentine's Day is About Love — and Planning for the Future

❤️Valentine’s Day is About Love — and Planning for the Future

• • Investment

Valentine’s Day is often associated with cards, flowers, and dinner reservations, but at its core, it’s about caring for the people who matter most. One of the most meaningful — and often overlooked — ways to show that care is by planning for their financial future. Life insurance and retirement accounts aren’t romantic topics, but they

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Why Should You Create an Online IRS Account?

🌐Why Should You Create an Online IRS Account?

• • IRS, Taxes

The IRS has continued to expand its online services, making an IRS online account a valuable tool for both individuals and business owners. Creating an account gives you secure, direct access to your tax information and can help you stay informed and organized throughout the year — especially during tax season. The future is now! An IRS online

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Preparing Your Financial Records for Tax Season: Are You Ready to File?

💡Preparing Your Financial Records for Tax Season: Are You Ready to File? 

• • Business, Taxes

February is an ideal time for both individuals and business owners to review financial records and make sure everything is complete and accurate before tax returns are filed. While many key deadlines fall in January, important cleanup and confirmation work often happens in February — and taking care of it now can help prevent delays,

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3 Things Every Small Business Owner Should Do at the Start of the Year

3 Things Every Small Business Owner Should Do at the Start of the Year

• • Business, Taxes

The beginning of the year is the perfect time for small business owners to get organized, review finances, and plan ahead. Taking a few proactive steps now can save headaches later and help set your business up for success in 2026. 1. Organize Your Financial Records Start by gathering your 2025 financial documents, including:  2.

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