Taxes

The Power of Receipts: Why Keeping Track of Every Expense Matters for Your Business

The Power of Receipts: Why Keeping Track of Every Expense Matters for Your Business

• • Business, IRS, Taxes

As a small business owner, maintaining meticulous records is essential to ensuring the financial health of your business, and one of the most critical elements of this practice is keeping your receipts. Why is it important to keep receipts? Best Practices for Managing Receipts: By implementing these simple yet effective habits, you can keep your […]

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Join Our Upcoming Workshop: "Iniciando con Éxito: Una Guía Sobre Como Estra Preparado Para Los Impuestos Como Propietario de Negocio"

Join Our Upcoming Workshop: “Iniciando con Éxito: Una Guía Sobre Como Estar Preparado Para Los Impuestos Como Propietario de Negocio”

• • Business, Taxes

Join us for this comprehensive workshop designed to equip entrepreneurs and early-stage business owners with the tools they need to grow strategically—and stay tax-ready every step of the way.  The workshop will be hosted in Spanish at the Beacon Hill Branch of the Seattle Public Library on Wednesday, September 10th from 5:30pm to 7:30pm. This

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The One Big Beautiful Bill Act: What Does It Mean for Taxpayers?

The One Big Beautiful Bill Act: What Does It Mean for Taxpayers?

• • Business, Taxes

The One Big Beautiful Bill Act (OBBBA) is a proposed budget reconciliation bill in the 119th United States Congress. It was recently passed by the House of Representatives on May 22nd, 2025 and passed by the Senate on July 1st, 2025. The bill includes, but it is not limited to, the following: What It Means

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IRS Acknowledges Processing Delays Leading to Balance-Due Notices 

IRS Acknowledges Processing Delays Leading to Balance-Due Notices 

• • Business, IRS, Taxes

On June 12th, 2025, the IRS officially acknowledged processing delays that have caused some taxpayers to receive notices claiming a balance due—even when payments were made timely and electronically. Why It’s Happening: Who’s Affected IRS Guidance for Taxpayers Challenges Facing the IRS This issue highlights broader operational challenges: While the IRS works through its backlog,

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Medzam Consulting - Cryptocurrency and Its Tax Implications

Cryptocurrency and Its Tax Implications

• • Investment, IRS, Taxes

Cryptocurrency has become an increasingly popular investment, but with it comes the responsibility of understanding its tax implications. Whether you have bought, sold, or simply traded cryptocurrency, it is essential to understand how the IRS views these transactions and what your reporting requirements are. The IRS treats cryptocurrency as property, not currency. This means that any

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Medzam Consulting - Health Insurance Through the Government Marketplace What It Means and Tax Implications

Health Insurance Through the Government Marketplace: What It Means and Tax Implications

• • Business, Taxes

The Health Insurance Marketplace is managed by the federal government or individual states. It’s especially valuable for those who don’t have access to employer-sponsored insurance or other coverage options. However, this type of insurance can have tax implications that you need to be aware of: Premium Tax Credits (Subsidies): If your income is between 100% and 400%

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