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In the meantime, feel free to check out some of our most recent blog entries:
One Big Beautiful Bill: Expanded 529 Plan Benefits for Education, Careers, and Beyond
The One Big Beautiful Bill (OBBB) enhances the flexibility of 529 college savings plans, making them more versatile than ever. Traditionally, 529s have been used for qualified education expenses, but under the new rules, you now have more ways to use these funds...
One Big Beautiful Bill: SALT Deduction Cap Increased to $40,000
If you live in a high-tax state or own property with substantial property taxes, the One Big Beautiful Bill (OBBB) delivers a major change: a temporary increase to the state and local tax (SALT) deduction cap. This provision can provide thousands in additional...
One Big Beautiful Bill: New Tipping & Overtime Income Exemption
The One Big Beautiful Bill (OBBB) includes a unique, temporary provision that could put more money directly into the pockets of workers in industries that rely heavily on tips and overtime pay. If you work in restaurants, hospitality, healthcare, retail, or other...
One Big Beautiful Bill: How the New U.S. Auto Loan Interest Deduction Works
The One Big Beautiful Bill (OBBB) introduced a variety of tax changes, but one of the more surprising provisions is the new U.S. Auto Loan Interest Deduction. For the first time in years, qualifying taxpayers will be able to deduct interest paid on certain auto...
One Big Beautiful Bill: Charitable Contribution Changes You Should Know
The One Big Beautiful Bill (OBBB) brought a wide range of tax changes for individuals and businesses, and charitable contributions were no exception. Whether you itemize deductions or take the standard deduction, there are new opportunities—and new limits—to keep in...
New $6,000 Senior Deduction: One Big Beautiful Bill
At Molen & Associates, we’re committed to helping retirees and older taxpayers navigate the new tax changes introduced by the One Big Beautiful Bill (OBBB) Know About the New $6,000 Senior Deduction. One of the most impactful updates is the new bonus deduction for...
“1099 & Contractor Reporting Changes with the OBBB: What You Need to Know”
The One Big Beautiful Bill (OBBB) has introduced significant changes to 1099 and contractor reporting requirements. These modifications aim to improve tax compliance and provide clearer guidelines for businesses and independent contractors alike. Let's break down the...
One Big Beautiful Bill: Understanding the New Trump Savings Accounts
The One Big Beautiful Bill (OBBB) introduced several new tax provisions, but one of the most talked-about for families is the creation of Trump Savings Accounts. These accounts are designed to encourage long-term savings for children born between 2025 and 2028, with...
“Parenting Pays: Unpacking the New Child Tax Credit & Dependent Care Credit for 2025”
The Child Tax Credit is a federal tax benefit designed to help families offset the costs of raising children. It provides eligible taxpayers with a credit for each qualifying dependent under a certain age. This credit can reduce your tax bill or increase your refund,...
One Big Beautiful Bill: Home Office and Mileage Deductions for Realtors, Contractors & 1099 Workers
As a self-employed professional—whether you’re a realtor, contractor, or other 1099 worker—you have powerful tax deduction tools at your disposal. Two of the most valuable are the home office deduction and the mileage deduction. While the One Big Beautiful Bill (OBBB)...
Section 179 and Bonus Depreciation Changes: What the OBBB Means for 2025 and Beyond
At Molen & Associates, we’ve been guiding clients through tax law changes since 1980, and we can say with confidence: the One Big Beautiful Bill (OBBB) has reshaped the landscape for business deductions. One of the most impactful updates? The enhanced Section 179...
QBI Deduction Changes Under the One Big Beautiful Bill (OBBB)
The Qualified Business Income (QBI) deduction, introduced in the 2017 Tax Cuts and Jobs Act, allowed many small business owners, sole proprietors, and pass-through entity members to deduct up to 20% of their qualified business income on their personal tax returns....
The One Big Beautiful Bill: How Standard Deduction and Tax Bracket Changes Impact Your Taxes
At Molen & Associates, we’ve been helping clients navigate the ever-changing tax code since 1980. With the passing of the One Big Beautiful Bill (OBBB), we’re looking at one of the most significant tax updates since the Tax Cuts and Jobs Act of 2017. While...
Tax Tips for Retirees: Maximize Social Security & RMDs
Tax Tips for Retirees: Maximize Social Security & RMDs Retirement is a time to enjoy the fruits of your labor, but managing your taxes effectively remains an essential part of preserving your wealth. From understanding how Social Security benefits are taxed to...
Donor Advised Funds: What Are They and How Do They Work?
Donor-Advised Funds: What’s the Deal? For individuals and families looking to make a meaningful impact with their charitable giving while enjoying tax benefits, donor-advised funds (DAFs) are a popular and flexible option. But what exactly is a donor-advised fund, and...