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A member of our team will be in touch with you, shortly. We appreciate your interest!
In the meantime, feel free to check out some of our most recent blog entries:
Avoid Common Mistakes as a New Business Startup
Case Study: Avoid common mistakes as a new business startup Starting a new business can be an exciting and challenging experience. There are many things to consider when launching a new venture and making mistakes can be costly. There will be a lot we will be...
Independent Contractors Vs. Employees
What is the difference in Independent Contractors VS Employees If you have found yourself asking why your boss has paid you as a 1099 independent contractor instead of a w-2 employee, look no further. There are various tax implications for individuals who receive...
Inflation Reduction Act of 2022
What is the Inflation Reduction Act of 2022 The goal of the Inflation Reduction Act (IRA) of 2022 is to "make a historic down payment on deficit reduction to fight inflation, invest in domestic energy production and manufacturing, and reduce carbon emissions by...
Cut Your Self Employment Tax With an S-Corporation
The Smart Way to Cut Self Employment Tax: S-Corporation Have you had enough of paying large amounts of self-employment tax? For 2022, lawmakers levy the self-employment tax at the painfully high rate of 15.3 percent on the first $147,000 of net self-employment...
10 Proven Strategies to Lower Your Schedule C Taxes
Tax Strategies to Reduce Your Taxes as a Schedule C Taxpayer: Maximize Deductions and Save Big Tax strategies to lower your schedule c taxes - As a small business owner, you know that tax season can be stressful. But with some planning, you can reduce your tax...
Ten Proven Tax Strategies for Saving Money as an S Corp Owner
Strategies for saving big money as an S Corp Owner Are you tired of paying massive amounts of money to the government? Strategy is essential when it comes to anything in life, but especially when it comes to saving money. Many different techniques can be used when it...
Red Alert: A Massive New FinCEN Filing Requirement Is Coming
Things You Need to Know About FinCEN's New Rules There is a new FinCEN filing requirement coming soon. The Corporate Transparency Act (CTA), a new law passed in 2021, requires corporations, LLCs, and other business entities to provide specified information to the...
2022 vs 2021 Tax Brackets
Don’t Miss the New Tax Deadline: Key Updates for This Year It's never too early to start thinking about your next tax return. Unless you requested an extension to file your 2021 return, the next return that most people will have to file is their federal tax return for...
Use the Business Mileage Rule to Earn More Deductions on Your Tax Return
The Business Mileage Rule: A Smart Tax Strategy Business Mileage - Are you a small business owner always looking for ways to decrease your tax bill? If so, you may be interested in the business mileage rule. This rule allows small business owners to deduct the cost of...
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 you in your...
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. Now,...
How are PPP & EIDL Accounted for on my Bookkeeping & Tax Preparation
How are PPP & EIDL Accounted for on my Bookkeeping & Tax Preparation https://youtu.be/PZcIH7-GL2U Hey, folks. Kevin Molen with Molen and Associates here wanted to give you a quick update on how we are treating the payroll protection program, loans and grants...
Changes With Education Credits: A Breakdown of American Opportunity and Lifetime Learning Credits
What Has Recently Changed with Education Credits?Here are a few changes due to recent legislation for education tax credits. There used to be 3 education tax credits, now there are 2. The American Opportunity Credit (Spend $4k and get $2.5k in credit) and the Lifetime...
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:...
How to File Your Stimulus Check on Your Tax Return…Correctly!
What do I do with the Stimulus Check Letter for 2021?Hey folks, I’m Kevin Molen with Molen & Associates. I wanted to give you a quick update on stimulus checks, as many of you would have seen based on the third round of stimulus that was passed and paid in 2021....