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© 2025 Small Business Tax Savings Podcast
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The Small Business Tax Savings Podcast is designed specifically for small business owners. We focus on tax savings and ways to have a financially sound back bone to your small business. Our goal is to have you paying the least amount in taxes as legally possible.Hosted by by Mike Jesowshek, CPA, this is a quick hitting podcast aimed to get you important information without all the fluff. You can find episodes, blog posts, information on our software TaxElm and more on our website: www.TaxSavingsPodcast.com
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Send us a text What if you could pay your kids a salary, take a business deduction, and teach them real financial skills at the same time? In this episode, Mike Jesowshek, CPA, explains how to legally hire your children in your business, what the IRS actually allows, and how to do it correctly so you avoid audits and penalties. You’ll learn the rules for paying your kids under age 18, how to document their work, how much you can pay them tax-free, and how this strategy can double as a wealth-...
Send us a text If you’ve ever wanted to move money from your business to yourself without paying extra tax, this episode is for you. In this episode, you’ll learn how the Augusta Rule, also called the 14-Day Home Rental Rule, lets business owners rent their personal homes to their own business and receive that income completely tax-free. You’ll also learn exactly how to document it, what proof the IRS expects, and the common mistakes that can get this strategy disallowed. 👉 Get the Free Tax...
Send us a text If you’ve ever paid for business expenses out of pocket, like your phone bill, internet, or home office, and wondered if you can get reimbursed without paying more tax, this episode is for you. In this episode, you’ll learn how an Accountable Plan lets business owners legally reimburse themselves and their employees tax-free. You’ll also discover the 4 key rules every plan must follow to stay IRS-compliant, and the most common mistakes that lead to audit trouble. 👉 Get the Fr...
Send us a text A single medical bill can wipe out your profits. But health expenses don’t have to drain your cash flow. In this episode, you’ll learn three powerful ways to turn your medical costs into legitimate tax deductions. From self-employed health insurance and Health Savings Accounts (HSAs) to Section 105 reimbursement plans and employee health benefits, these strategies can help business owners save thousands while staying fully IRS-compliant. 👉 Get the Free Tax Savings Starter...
Send us a text Trusts aren’t just for the rich. Every family can benefit from one. A revocable living trust can simplify estate planning, avoid probate, and create a foundation for generational wealth. In this episode, Mike Jesowshek, CPA, sits down with Jack Fiveash, attorney and co-founder of The Co Letter, to talk about how families can use a simple trust and LLC structure to build long-term stability, protect assets, and involve their children in smart financial stewardship. They cover ho...
Send us a text If you earn over $250,000 or plan to sell a highly appreciated asset, this episode could save you hundreds of thousands in taxes. Most business owners stop at basic deductions and retirement plans, but the wealthy use strategies that go far beyond that. In this episode, we break down the five categories of advanced tax planning, when they apply, and how to use them the right way. 👉 Get the Free Tax Savings Starter Kit Built for Small Business Owners: https://www.taxsavi...
Send us a text Are you spending money the wrong way? Every dollar is either pre-tax or after-tax money. Knowing the difference is the key to thousands in tax savings. In this episode, we cover how to turn everyday expenses into business deductions. From meals and travel to home office and even hiring your kids, you’ll learn the mindset shift that could save you thousands each year. 👉 Get the Free Tax Savings Starter Kit Built for Small Business Owners: https://www.taxsavingspodcast.co...
Send us a text What happens when you take a real small business owner, put them in the hot seat, and break down their tax strategy live? That’s what we’re doing in this episode. Eric runs a successful appraisal business, pays himself through an S-Corp, and last year wrote a $50,000 check to the IRS. Did he really have to? Mike digs into Eric’s setup and reveals how simple shifts could slash his tax bill. From adjusting his salary to using the Augusta Rule, hiring kids, and planning for real ...
Send us a text Most business owners are driving right past thousands in tax savings without realizing it. In 2025, the IRS raised the standard mileage rate to 70 cents per mile, but that’s only the beginning. In this episode, Mike breaks down exactly how to structure your auto deductions, avoid costly mistakes, and choose between the mileage method and actual expenses. 👉 Get the Free Tax Savings Starter Kit Built for Small Business Owners: https://www.taxsavingspodcast.com/starterkit 🚀 Book y...
Send us a text Do you have a home office? The desk you’re sitting at could save you up to $1,500 a year in taxes. Many business owners skip this deduction because they think they don’t qualify or fear an IRS audit. The truth is, most do qualify. One client of mine saved $1,100 in just 30 minutes by setting it up. In this episode, Mike Jesowshek, CPA, explains who qualifies, the two ways to calculate it, how to document properly, and the mistakes that cause business owners to miss out. You’ll ...
Send us a text Some entrepreneurs sell their companies and walk away with zero federal taxes. How? This is thanks to a strategy called QSBS. In this episode, tax strategist Alessandro of Get Dynasty breaks down Qualified Small Business Stock, new changes from the “Big Beautiful Bill,” and how founders can use trusts to multiply tax-free exits. If you’re building or investing in startups, this could be the single most powerful tax break you’ll ever use. 👉 Get the Free Tax Savings Sta...
Send us a text Misclassifying workers is one of the biggest mistakes a business owner can make. It might seem cheaper to pay someone as a 1099 contractor, but if the IRS says they should be a W-2 employee, you’re looking at back taxes, penalties, and possible audits that could cripple your business. In this episode, Mike breaks down the IRS framework for worker classification, the red flags that trigger audits, and the tax differences between employees and contractors. You’ll learn how to pro...
Send us a text Most tax strategies give you either a write-off or long-term growth. Oil and gas gives you both. With IRS Code 263(c), you get massive upfront deductions and steady tax-advantaged cash flow. In this episode, Mike and Nick from US Energy unpack how drilling funds work, the unique tax benefits they provide, and how to use them strategically in your business planning. 👉 Get the Free Tax Savings Starter Kit Built for Small Business Owners: https://www.taxsavingspodcast.com/starterk...
Send us a text If I were starting a business today, this is exactly how I’d approach tax planning from the ground up. In this episode, we're tackling tax strategy hierarchy every small business owner should follow. From core strategies like hiring your kids and maximizing deductions, to advanced moves like asset purchases, oil and gas investments, and captive insurance, you’ll learn the right order to implement them for maximum savings. We also answer listener questions on short-term re...
Send us a text Most business owners think of insurance as a necessary expense, but what if it could double as a tool to cut taxes? With a Section 831(b) captive insurance company, you can set aside pre-tax dollars to cover risks traditional insurance won’t touch… All while building a financial safety net for your business. In this episode, Van Carlson, founder of SRA 831(b), explains how captives work, the types of risks they can cover, when it makes sense to use one, and how to stay complian...
Send us a text Retirement expert Matt Ruttenberg walks through 5 real-world business scenarios and how to choose the smartest retirement plan for each. Whether you're flying solo or managing a growing team, this episode breaks down IRA, SEP, SIMPLE, 401(k), and advanced options in a simple way… Plus, how to take advantage of powerful tax credits. 🚀 Book your free demo call today! Click here or visit: https://taxelm.com/demo/ 🚀 Build a smarter retirement strategy for your business. Visit...
Send us a text Taking money out of your business isn’t always tax-free. If you’re not tracking your basis, you could get hit with a surprise capital gains tax, even without selling anything. Let's break down what basis means, how it works differently for Partnerships and S Corps, and why overlooking it could cost you thousands. 🚀 Book your free demo call today! Click here or visit: https://taxelm.com/demo/ Chapters: (01:06) What Is Basis and Why It Matters Your basis determines h...
Send us a text Mixing active and passive income in one entity could be costing you thousands. In this episode, we break down why separating your income streams is essential. You’ll learn how to structure your business the right way using S Corps, LLCs, holding companies, and even C Corps to unlock advanced tax strategies. From hiring your kids to slashing self-employment tax, this is the blueprint smart business owners use to keep more of what they earn. 🚀 Book your free demo call today! Clic...
Send us a text Trump’s Big Beautiful Bill just became law. What’s actually in it? On July 4th, the biggest tax overhaul since 2017 was signed, and it’s packed with big wins for business owners. 100% bonus depreciation, a permanent 20% QBI deduction, tax-free tips and overtime, and brand-new deductions most people haven’t even heard of. Let’s break down the Big Beautiful Bill line by line so you know exactly what’s changing, what’s temporary, and how to use it to slash your tax bill befo...
Send us a text When you're self-employed, getting approved for a mortgage isn't as straightforward as it is for W-2 employees. In this episode, Mike sits down with mortgage lender Bill Moeller to break down how tax-saving strategies can impact your mortgage application. 🚀Ready to stop overpaying the IRS? Sign up for my free webinar on July 15th! Click here or visit: https://www.taxsavingspodcast.com/webinar 🚀 Book your free demo call today! Click here or visit: https://taxel...
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The Small Business Tax Savings Podcast is a great resource for entrepreneurs who want to understand tax strategies in a clear and practical way. It covers topics that help business owners reduce costs, stay compliant, and make smarter financial decisions. If you’re a small business owner looking for guidance, pairing these insights with expert services like Simply Solved can make a big difference. Simply Solved provides tailored accounting, bookkeeping, and tax support designed to simplify complex financial matters so you can focus more on growing your business with confidence. Website:-https://www.simplysolved.ae/
it is like a great resource for small business owners looking to maximize tax savings! The quick, no-fluff format makes it even more valuable https://taxfreechildcaree.co.uk/.
Of course, it's necessary to use time trackers, and many employers already use them. Personally, I work in a company where it's important to work both quickly and efficiently. You can check this article https://traqq.com/blog/tracking-time-on-a-mac-here-are-the-11-best-apps-of-2020/ and choose a good time tracker in order to check the work of the team. This data is immediately sent to the general report, which is received by the employer or accountant.
I've been thinking of using time trackers in my company as well, but I still hesitate whether it's actually worth it. Well, after that podcast, I'll definitely check something out.
Mike Jesowshek is a genuine expert in small business taxes, and graciously shares this knowledge in his Small Business Tax Savings Podcast. He goes out of his way to do the right thing for businesses, and I would highly recommend him and his company to any small business in need of tax help. #taxes #smallbusiness