The One Big Beautiful Bill (OBBB) introduced a variety of tax changes, but one of the more surprising provisions is the new U.S. Auto Loan Interest Deduction. For the first time in years, qualifying taxpayers will be able to deduct interest paid on certain auto...
The One Big Beautiful Bill (OBBB) brought a wide range of tax changes for individuals and businesses, and charitable contributions were no exception. Whether you itemize deductions or take the standard deduction, there are new opportunities—and new limits—to keep in...
At Molen & Associates, we’re committed to helping retirees and older taxpayers navigate the new tax changes introduced by the One Big Beautiful Bill (OBBB) Know About the New $6,000 Senior Deduction. One of the most impactful updates is the new bonus deduction for...
The One Big Beautiful Bill (OBBB) has introduced significant changes to 1099 and contractor reporting requirements. These modifications aim to improve tax compliance and provide clearer guidelines for businesses and independent contractors alike. Let’s break...
The One Big Beautiful Bill (OBBB) introduced several new tax provisions, but one of the most talked-about for families is the creation of Trump Savings Accounts. These accounts are designed to encourage long-term savings for children born between 2025 and 2028, with...
The Child Tax Credit is a federal tax benefit designed to help families offset the costs of raising children. It provides eligible taxpayers with a credit for each qualifying dependent under a certain age. This credit can reduce your tax bill or increase your refund,...
