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In the meantime, feel free to check out some of our most recent blog entries:
The Augusta Rule: A Comprehensive Guide to the Section 280A Deduction for Small Business Owners
As a small business owner, you’re likely familiar with the home office deduction. This popular tax break allows you to write off up to 300 square feet of workspace in your home at a rate of five dollars per square foot, resulting in a potential $1,500 annual...
Unleashing the Mega Backdoor Roth: Maximizing Your Retirement Savings
Unleashing the Mega Backdoor Roth: Maximizing Your Retirement Savings Embark on a financial adventure with us as we introduce you to the not-so-secret world of the Mega Backdoor Roth – the financial strategy that's not only powerful but sounds almost as charming as a...
Get Organized and Sail Smoothly with a Family Tax Firm
How to Get Organized and Sail Smoothly with a Family Tax Firm? Tax season—an annual event that can trigger a range of emotions, from anticipation to anxiety. For small business owners, the prospect of tackling complex forms, deciphering intricate regulations, and...
Tax Troubles in Houston?
Tax Troubles in Houston, Texas?Houston, Texas—a city of boundless opportunity, where dreams are forged and businesses thrive. Yet, beneath the gleaming skyscrapers and bustling streets, lies a challenge that many small business owners face: navigating the complex maze...
The Ultimate Guide to Streamlining Your Small Business Finances
Streamlining your small business finances doesn't have to be a complex puzzle. Running a small business is a thrilling endeavor, but it often comes with a multitude of financial responsibilities that can leave even the most passionate entrepreneurs feeling...
Navigating Self-Employment Taxes with Molen & Associates
Embarking on the path of self-employment is a dream many aspire to, and you're one step ahead with both the vision and resources to make it a reality. To ensure your entrepreneurial venture thrives without being encumbered by tax-related complications, Molen &...
Maximizing Tax Benefits for Your Home Office
How to maximize your tax benefits for your home office? For over four decades, Molen & Associates, a trusted tax and accounting firm established in 1980, has been aiding small-business proprietors and entrepreneurs in optimizing their tax advantages through the...
2024 Tax Updates
Navigating the 2024 Tax Landscape: What You Need to Know Introduction: As we gear up for the upcoming tax season, it's crucial to stay ahead of the curve and be aware of the changes that will shape the 2024 tax landscape. In this blog post, we'll explore key...
Mastering the 199A Deduction: Your Ultimate Guide
How to master the 199A Deduction? Tax season often resembles a maze, with twists, turns, and seemingly endless complexities. But fear not, fellow entrepreneurs, for we're about to shed light on a powerful tool that can guide you through this intricate terrain—the 199A...
Cruising to a write off
How to cruise a write off? First things first, let’s remember our general rules that before we can deduct a business expense it must be ORDINARY and NECESSARY, meaning “An ordinary expense means it’s typical in your business, both [in terms of] amount [as well as in]...
Shielding Your Business: The Power of IRS Representation in Tax Matters
Tax matters can be a labyrinth of complexities, especially for small business owners juggling a multitude of responsibilities. The mere thought of facing the Internal Revenue Service (IRS) can send shivers down the spine. But fear not – there's a potent guardian in...
Corporate Transparency Act – Beneficial Ownership Reporting: Are You Prepared?
The Corporate Transparency Act (CTA), enacted as part of the Anti-Money Laundering Act of 2020, introduces significant changes in beneficial ownership reporting requirements for certain entities operating in the United States. These regulations, set to take effect on...
The IRS is Cracking Down on S-Corp Salaries: How To Ensure Your Reasonable Compensation is Safe
The IRS is turning its attention to S-Corporations (S-Corps) and the salaries paid to shareholder-employees. Ensuring that you are paying yourself a "reasonable compensation" is crucial to staying compliant with the law and avoiding potential financial consequences....
Should You Be Making Quarterly Payments?
Tackling your taxes as a small business owner can often feel like a high-stakes game of strategy and a little guesswork. One of the key moves in this intricate game is mastering the art of quarterly tax payments. If you're looking to stay ahead in the tax arena and...
Slash Your Self-Employment Tax
Hey there, hardworking small business owners! Tax season is no walk in the park, but we've got a game-changing secret to share that could put more money back in your pocket. If you're tired of paying hefty self-employment taxes and want to keep more of your...
