Should I Pay My Child With A W-2 or 1099?

Should I Pay My Child With A W-2 or 1099?

Understanding W-2 and 1099: A Parent’s Guide It’s a great strategy to hire your children as legitimate employees in your business. In fact, the higher the taxes you have to pay, the more you can save when you hire your children. When your children work for...
What are Common Business Deductions?

What are Common Business Deductions?

https://youtu.be/YDijN_wCwOc The Ultimate Guide to Common Business Deductions Okay, folks, it is Kevin Molen once again with Molen and Associates. But today, today, we are talking about a crucially important topic. We’re talking about common business deductions....
Taking Money Out of a Business & QBI

Taking Money Out of a Business & QBI

https://youtu.be/nMfyfhqciis The Impact of QBI on Your Business Withdrawal Strategy We get a lot of questions about the best ways to take money out of a business and how this money is taxed. Essentially, for S-Corporation owners, there are two main ways to do this:...
COVID EIDL Program Updates Effective September 8, 2021

COVID EIDL Program Updates Effective September 8, 2021

An Overview of COVID EIDL Program Changes This September President Biden announced an expansion of the COVID-19 EIDL program, making a number of changes so that it is more accessible to small business owners. You can read a full breakdown by reading the fact sheet...
Tracking Your 5 Top Key Business Metrics

Tracking Your 5 Top Key Business Metrics

Mastering Business Growth Through 5 Key Metrics With 99% of US businesses classified as a small business, there is no doubt that they are the backbone of the U.S. economy. US laws provide a low barrier of entry for entrepreneurs to cultivate startups across the...