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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:
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....
How do the Child Tax Credit Advance Payments Impact Your Taxes?
Am I Going To Owe More On My Taxes Due To the Advanced Child Tax Credit Advanced Payments?Hey folks, Kevin Molen with Molen & Associates here. I wanted to give you a quick update on the advanced child tax credit payments. Now, if you don't know what I mean when I...
No Taxation Without Representation!
The Impact of No Taxation Without Representation Today Early American colonists adopted what is commonly considered their first slogan of “No taxation without representation”. While this slogan specifically regarded their requirement to pay taxes to Britain without...
Why You Shouldn’t Let Your Children File Their Own Taxes
Common Tax Filing Mistakes Children MakeHey folks, Kevin Molen with Molen & Associates here. I want to give you a quick update one of the things we're seeing a lot. It is dependent children who got their first summer job or maybe they're even college students and...
Outsourced Bookkeeping Services: Long-Term Solution
The Future of Finance: Embracing Outsourced Bookkeeping Outsourced bookkeeping is a service which provides a well-managed full bookkeeping department experience for small businesses. It is the business practice of hiring a firm outside a company to perform services...
Required Minimum Distribution (RMD) Update for 2022
Don't Forget to Take Your RMDsHey folks, Kevin Molen with Molen & Associates here. I want to give you a quick update regarding a specific topic that some people are asking questions about, that really should be clear-cut. So, let's set the record straight - the...
How is my Bonus Taxed?
The Impact of Bonus Taxes on Your Financial Planning Are you bringing in a bonus this year? Fantastic! You should be proud of your hard work. I teach my three kids the same fundamental principle every week. Hard work pays off. It’s completely ingrained in them now....