Welcome to Molen & Associates

As a small business owner with a partnership, one of the crucial decisions you need to make is how to file your taxes. At Molen & Associates, we understand that it can be a challenging task to choose the right partnership tax filing method to ensure your business remains tax-compliant while maximizing your savings. In this blog post, we discuss the different types of partnership tax filing methods and help you make an informed decision that benefits your business. What is a Partnership? Before we delve deeper into the partnership tax filing options, let's first define what a partnership is. A partnership is a business entity where two or more individuals or entities come together to operate a business. The partners in a partnership share the profits and losses of the business based on the percentage of ownership. The key benefit of a partnership is the ease of starting and operating a business, as partners share the responsibilities, risks, and rewards. Partnership Tax Fili...

 Real estate taxes are an important part of any financial plan and must be handled correctly to stay on top of the ever-changing tax regulations. Improper record keeping for real estate taxes can lead to unexpected problems down the road, so it is important to take the necessary steps now to ensure that your records are accurate and up-to-date. At Molen & Associates, we understand the complexities of real estate taxes and are here to help you stay on top of your financial responsibilities. What Real Estate Records Should I Keep? The types of records that must be kept for real estate tax purposes vary by jurisdiction. However, some general documents that should always be maintained include: • Real Estate Tax Liens: Real estate tax liens are placed on a property for failure to pay the required taxes. Keeping records of any real estate tax liens will help to ensure that you are compliant with local regulations. • Rental Agreements: When renting out a property, it is importa...