For applications I would suggest thinning it more, i generally work with 1 to 1 1/2 pound cut. Thinner applications are better than thicker applications. Filtering can be done with a paint filter available at any hardware store or paint store. Or you can filter it through a loose weave cotton cloth, I generally have fine cheesecloth around that I use to filter that and other things through. I also use it for applying stain and even shellac. I always grind the shellac flakes in a coffee grinder, it helps with the yield and you don’t have to filter the resulting liquids. It also speeds up the time needed to dissolve the shellac flakes. In the three workshops I have done over the past year, I have dissolved 8oz. of shellac at the beginning each time. In each of the workshops the shellac was ready to use with in 4 to 6 hours with no waste verses 8 to 12 hours and having waste.
This has been my experience your mileage may vary. But I would suggest playing with it.