Self Employment Income Tax Preparation in Houston, TX

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Self Employment Income Tax Preparation in Houston, TX

Being self-employed or working as an independent contractor is a great way to have more flexibility and gain control over your career. But when tax season comes around, it can be a nightmare trying to figure out how to file everything correctly—especially if you’ve never done it before. That’s where we come in.

Self-Employed and 1099 Worker Tax Preparation

If you are self-employed or do contract work of any kind, we know that your taxes can be especially complicated. Here are a few examples of types of people we have helped:

  • Law Enforcement
  • Truckers
  • Realtors
  • Fitness Trainers
  • Online Sellers
  • Etsy Sellers
  • Freelancers
  • Uber/Lyft Drivers
  • Many more!

We are here to help make sure that you get all of the deductions and credits you are entitled to so that you don’t end up overpaying on your taxes.

Services We Offer

In addition to individual tax preparation, we also offer a variety of other services to help you with your finances. We can help with bookkeeping, payroll set up, business consulting, and more. Contact us today to learn more about how we can help you achieve your financial goals.

How To Minimize Self Employment Taxes

At Molen & Associates, we have experience dealing with self-employment taxes for our clients in Houston, TX. We know the ins and outs of the process, and we can help make sure that you get the maximum refund (or the smallest tax bill) possible. In this article, we’re going to discuss some of the benefits of having us handle your self-employment taxes. Keep reading to learn more!

  1. We Can Help You Maximize Your Deductions

When you’re self-employed, you’re eligible for a number of deductions that you wouldn’t be able to take if you were working for someone else. For example, you can deduct the cost of your business’s equipment and supplies, as well as any expenses related to marketing and advertising. And those are just a few of the deductions you may be eligible for—there are many more.

The problem is, sifting through all of the different deduction options can be time-consuming and confusing. That’s where we come in. We can help you identify which deductions you’re eligible for and make sure that you take advantage of them so that you get the maximum refund (or pay the minimum amount in taxes). In addition to just filing your taxes, we can help with monthly bookkeeping to keep your numbers on track so tax time is a breeze.

  1. We Can Help You Avoid Common mistakes

Filing your taxes can be complicated, especially if you’ve never done it before. And when you’re self-employed, there are a few additional challenges that can trip people up. For example, did you know that if you don’t pay your estimated taxes on time, you could be subject to a penalty? Or that there are specific deadlines for filing your return if you’re self-employed? These are just a couple of the potential pitfalls that self-employed taxpayers face. But don’t worry—we can help guide you through the process and make sure that you avoid any common mistakes.

  1. We Can Help You Get Your Taxes Done Quickly And Efficiently

No one likes dealing with their taxes, but when you’re self-employed, it’s important to get it done as quickly and efficiently as possible so that you can get back to running your business. Trying to do your taxes on your own can be time-consuming and frustrating—especially if you run into any complications along the way. But when you work with us, we’ll take care of everything for you so that all you have to do is sit back and relax while we handle everything. Plus, we’ll make sure that your taxes are filed on time so that you don’t have to worry about any penalties or fees. 

  1. We Can Help with Self Employment and Federal Taxes

On top of paying a lower amount in Federal taxes, it is just as important to minimize your Self Employment taxes. Read more here about a strategy that may help.

As a self-employed individual or small business owner in Houston, TX, it’s important to have a firm understanding of how to file your taxes correctly—especially since there are a number of unique challenges that come along with being self-employed. At Molen & Associates, we understand these challenges and we’re here to help!If you have any questions or would like to learn more about our services, contact us today! We look forward to hearing from you soon!

PAssionately Engaged

We aren't your average tax firm. We specialize in helping you maximize your tax situation and live more comfortably.

Education Focused

We guarantee you will learn something new. If you are looking for an average experience, we probably aren't the firm for you.

Feels Likely FamiLY

We started business 40 years ago out of the Molen's home and to this day, we still treat our clients like family.

 

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Needs Analysis

Free One Hour Discovery meeting for business owners looking for an advisor to help them with their taxes or accounting.

S-Corp & Partnership Filing Deadline

TX - June 15th, 2021

Non-TX - May 17th, 2021

Individual, Estate, Trust, & C-Corp Filing Deadlines

TX - June 15th, 2021

Non-TX - May 17th, 2021

Monthly Newsletter

We strive to be education focused in all we do. Sign up for our monthly newsletter to learn from the experts and improve your taxes and finances!

Latest News

Tax Implications of Inheritance: Understanding Estate Taxes, Inheritance Taxes, and Step-Up in Basis Rules

Inheriting assets can be a complex affair, especially when it comes to understanding the tax implications involved. This article delves into the intricacies of estate taxes, inheritance taxes, and the step-up in basis rules, providing a comprehensive overview for...

Healthcare and Taxes: Navigating Health Savings Accounts (HSAs) and Medical Expense Deductions

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Tax credits are essential tools for reducing the tax burden on families, helping to increase disposable income and financial stability. Among these, the Child Tax Credit (CTC) and the Child and Dependent Care Credit (CDCC) are particularly beneficial for parents and...

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Dates to Remember

Needs Analysis

Free One Hour Consultation for any new business owner looking for an advisor to help them with their taxes or financials.

S-Corp & Partnership Filing Deadline

TX - June 15th, 2021

Non-TX - March 15th, 2021

Individual, Estate, Trust, & C-Corp Filing Deadlines

TX - June 15th, 2021

Non-TX - April 15th, 2021

Subscribe Now

The Molen & Associates Difference

Mike Forsyth

“Super helpful and timely. This is our first year with them and we look forward to trusting them with our taxes and business books for years to come.”

Caitlin Daulong

“Molen & Associates is amazing! They run an incredibly streamlined process, which makes filing taxes a breeze. So impressed with their attention to detail, organization, and swift execution every year. Cannot recommend them enough!”

Sy Sahrai

“I’ve been with Mr. Molen’s company for few years and I felt treated like family respect and dignity. They are caring, professional and honest, which hard to find these days. Love working with them.”

Tax Implications of Inheritance: Understanding Estate Taxes, Inheritance Taxes, and Step-Up in Basis Rules

Inheriting assets can be a complex affair, especially when it comes to understanding the tax implications involved. This article delves into the intricacies of estate taxes, inheritance taxes, and the step-up in basis rules, providing a comprehensive overview for...

Healthcare and Taxes: Navigating Health Savings Accounts (HSAs) and Medical Expense Deductions

Healthcare costs can be a significant financial burden, but tax-advantaged accounts like Health Savings Accounts (HSAs) and deductions for medical expenses can help mitigate these costs. Understanding these benefits can lead to substantial tax savings and financial...

Tax Credits for Families: Navigating the Child Tax Credit and the Child and Dependent Care Credit

Tax credits are essential tools for reducing the tax burden on families, helping to increase disposable income and financial stability. Among these, the Child Tax Credit (CTC) and the Child and Dependent Care Credit (CDCC) are particularly beneficial for parents and...

Retirement Contributions and Taxes: Understanding the Tax Implications of Contributing to IRAs and 401(k)s

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With the storm and power outages last week, Texas has been declared a Federal Disaster. What does this mean? When a state is declared a federal disaster area by the President of the United States, it triggers a series of federal assistance measures under the Robert T....

The Strategic Advantage of Cost Segregation in Tax Planning

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