I never had good results from cutting it. Rub in with your finger (in a rubber glove).
For thin stuff, I have been using CPES, Clear Penetrating Epoxy Sealer, from the Rot Doctor.
I am still deciding if this is worth the money or not. Lin Rhea and others are using some stuff I think from Minwax that is a lot cheaper, maybe it works as good or better.
Dan