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

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

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 you in your business, you can deduct their...
What are Common Business Deductions?

What are 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. Now, I don’t want this video to be an hour long, so I’m going to...
Taking Money Out of a Business & QBI

Taking Money Out of a Business & QBI

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: Owner’s Draw or W2 Wages. However, there is a deeper, and possibly more important...

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