Medzam Consulting Admin

Tax season is here, and whether you’re managing an S Corporation, Partnership, or LLC, it’s essential to stay ahead of the deadlines. Filing your taxes accurately and on time isn’t just about complying with regulations – it’s about safeguarding your business, avoiding penalties, and taking advantage of opportunities to maximize your deductions.

Small Business B&O Tax Credit: Reduces B&O tax for small businesses with gross receipts under a certain threshold. R&D Tax Credit: Encourages innovation by providing credits for qualified research and development activities. Renewable Energy Investment Credit: Offers incentives for businesses investing in renewable energy systems like solar or wind. Manufacturing/High Tech B&O Tax Credit: Reduces B&O

R&D Tax Credit: For businesses investing in research and development. Work Opportunity Tax Credit: For hiring individuals from certain disadvantaged groups. Health Care Tax Credit: For small businesses providing health insurance. Energy Investment Tax Credit: For renewable energy investments. Disabled Access Credit: For businesses making facilities accessible. New Markets Tax Credit: For investing in low-income

A state-level credit aimed at helping low- to moderate-income working residents. It’s similar to the federal Earned Income Tax Credit (EITC) and is designed to provide financial relief to working families. Eligibility depends on the following requirements: NOTE: The tax credit mentioned may not apply to all individuals. 

Earned Income Tax Credit (EITC): For low-to-moderate-income workers, especially those with children. Child Tax Credit: For families with children under 17. Education Credits: Includes the American Opportunity Tax Credit (for higher education) and Lifetime Learning Credit (for education costs). Saver’s Credit: For low- and moderate-income individuals contributing to retirement savings. Premium Tax Credit: For health insurance purchased through the

Tax season is here, and we want to make sure you have everything you need. We have created a Tax Season Checklist to help you remember the essential documents you may need as a guide for a smooth tax filing experience. Click herehttps://medzamconsulting.com/wp-content/uploads/2025/03/2025-Tax-Season-Checklist-for-Individuals.pdf to access the checklist and get ready for tax season with confidence!

Understanding tax forms like W-4 and W-9 is essential for accurate tax reporting and withholding. Here’s a breakdown of these important documents: Form W-4, Employee’s Withholding Certificate: Form W-4 is used by employees to inform their employer about the amount of federal income tax to withhold from their paycheck. It’s important to review and update your