by Innov8ive Marketing | Aug 13, 2025 | One Big Beautiful Bill
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...
by Innov8ive Marketing | Aug 13, 2025 | One Big Beautiful Bill
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...
by Innov8ive Marketing | Aug 13, 2025 | One Big Beautiful Bill
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,...
by Innov8ive Marketing | Aug 13, 2025 | One Big Beautiful Bill
As a self-employed professional—whether you’re a realtor, contractor, or other 1099 worker—you have powerful tax deduction tools at your disposal. Two of the most valuable are the home office deduction and the mileage deduction. While the One Big Beautiful Bill (OBBB)...
by Innov8ive Marketing | Aug 13, 2025 | One Big Beautiful Bill
At Molen & Associates, we’ve been guiding clients through tax law changes since 1980, and we can say with confidence: the One Big Beautiful Bill (OBBB) has reshaped the landscape for business deductions. One of the most impactful updates? The enhanced Section 179...
by Innov8ive Marketing | Aug 13, 2025 | One Big Beautiful Bill
The Qualified Business Income (QBI) deduction, introduced in the 2017 Tax Cuts and Jobs Act, allowed many small business owners, sole proprietors, and pass-through entity members to deduct up to 20% of their qualified business income on their personal tax returns....
