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Tax Mediation News

  • How to Calculate Taxes for Your Small Business

    One of the most time consuming and complicated parts of running a business is having to calculate taxes. It would be best to make tax planning a year round activity. This will help deal with tax planning and filing in a more systematic manner. The first step to calculating tax would be to gain knowledge […]

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  • Foreign Bank Accounts Requirement

    If you work or live abroad then you are likely to have a foreign bank account as well. Many taxpayers are unaware of the fact that they need to make a disclosure of such financial interests or assets held abroad. Along with reporting one’s income and deductions or tax credits for income tax calculation. Tax […]

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  • Earning Income Without Withholding in 2018

    Withholding tax is a worldwide phenomenon. Tax is deducted or withheld at source on the income earned by a person and acts as a tax credit when paying income tax for the year. In general the withholding tax is applicable to employment income. However if you are self-employed, for example you are a freelancer or […]

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  • Six Tax-Saving Tips for 2018

    Tax planning is not one of the most interesting things in life; however, it is necessary because it saves you money. You only fill your tax returns once per year but trimming your tax bill is a thing you can start doing right away. I am sure you have managed to claim several allowances for […]

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  • Tax Advice for Bitcoin and Other Cryptocurrencies

    As you probably already know, virtual money is considered real property by the IRS. So, if you are one of those adventurous people who “mine” virtual currencies, you should understand that the Internal Revenue Service requires reporting of profits and losses. It gets better:  Because cryptocurrencies are now considered valid, like the US dollar and […]

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  • Were You Affected by a Natural Disaster in 2017? You May Qualify For Certain Types of Taxation Relief.

    Last year, many American were affected by severe natural disasters. These natural disasters have displaced families, destroyed businesses, and have cost states like Texas and Florida immeasurable amounts. As it turns out The IRS has announced certain taxation relief and reporting benefits that are now available to hurricane victims. Unfortunately, the majority of people who […]

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  • What You Need To Know About The New Tax Bill.

    The Tax Cut and Jobs Act were passed by Congress and signed by President Trump last week. Essentially, it lowered individual tax rates, especially for wealthier taxpayers, and made a major cut in the corporate tax rate. The changes will apply to the 2018 tax year. That means next year will still mostly follow the current tax […]

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  • Construction Companies Avoid Becoming a Target of the IRS by Following These Tax Tips

    Owning your own construction business provides the opportunity for numerous deductions, but you also need to make sure you don’t become a target of the IRS. In order to prevent that from happening to your business, it is vital to keep good records of your business expenses. By understanding the types of expenses that create […]

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  • The 10 Most Ignored Tax Deductions

    Tax season is just around the corner and we want you to keep more of your hard-earned money in your pocket. Here are our 10 most ignored tax deductions. If a deduction is legitimate and you have the documentation to prove it, take it.   State sales taxes IRS has tables for residents of states […]

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  • 4 Things Taxpayers Are Unreasonably Fearful Of – And Shouldn’t Be

    Here’s our list of the top 4 things that taxpayers are unreasonably fearful of and shouldn’t be: Claiming on too many tax deductions. Claim them if you deserve them, and keep more money in your pocket. You’re entitled to take tax deductions. If a tax deduction is legitimate and you have the documentation to prove it, […]

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