Articles

By Dominique Molina, CPA

How to Find the Tax Pro That’s Right For You.

Do you feel that you pay too much in tax? You’re not alone! The General Accounting Office estimates that Americans overpay their taxes by a total of almost a billion (yes, that’s billion) dollars each year!

Why do so many pay more than they have to? The main cause is mistakes and errors they, or their tax preparers make on their tax returns!

So how do you find a reliable person to keep some of that billion in your wallet? I put together the following criteria and questions to help you find the best advisor and stop giving Uncle Sam too much!

First ask yourself, what … Read more →

By Dominique Molina, CPA

If you’re wondering what the single biggest expense is for your business, think again. It may surprise you!

As a business owner you’ve already experienced the benefits of self-employment. You know what I mean: no schedules or performance reviews, a steady income for expenses and extras, total control over your tax bill, and more qualified, capable workers lining up for your next job opening than you could ever hire.

Sound familiar? Well, at least it sounded great when you laid out your options on paper before taking the entrepreneur plunge.

If some of those benefits haven’t worked out like you’d planned, you can still take steps today to seize control over your single biggest expense for … Read more →

By Dominique Molina, CPA

You’ve finally done it! The kids are out of the house, you’ve finally gotten your finances under control, and you’ve built up enough home equity to pay cash for a home in some parts of the country. Now what? If you’ve thought about relocating to a place with lower cost of living to reduce your expenses what happens to your tax bill when you move?

It depends on what you do with your existing home.

Sometimes, simply selling the property might be the best option. You can maximize the gain exclusion ($250,000 for singles, $500,000 for married filing jointly). This exclusion will save you up to $75,000 in tax. If your profit on the sale is … Read more →

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