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How prepared are you to make 2025 your best financial year yet?

In this episode, Mike Jesowshek dives into strategic financial planning for 2025, emphasizing the importance of a financial summary document, proactive tax planning, and long-term strategic business planning. He explains how to create a comprehensive financial summary, differentiate between tax preparation and tax planning, and implement actionable goals to achieve financial clarity and growth. By focusing on yearly updates, tax strategies, and structured plans, listeners are encouraged to approach the new year with clarity and purpose.

Explore how a clear financial summary, tax strategies, and strategic planning can set you up for success.

[00:00 - 05:12 ] Creating a Financial Summary Document

• Mike explains the purpose and benefits of a financial summary document.
• Annual updates to a financial summary provide clarity and preparedness.

[05:13 - 12:39 ] Tax Preparation vs. Tax Planning

• Mike shares the distinction between compliance-focused tax preparation and strategy-driven tax planning.
• Implementing tax strategies is crucial for minimizing tax liability.

[12:40 - 17:20 ] Strategic Business Planning

• Strategic planning involves envisioning a 10-year perfect scenario and breaking it down into actionable goals.
• Clear planning transforms business goals into achievable steps.

[17:21 - 20:34 ] Key Takeaways and Resources

• Mike recaps the importance of financial summaries, tax planning, and strategic business goals.
• Success is intentional and requires consistent planning.

Direct Quotes:

"Success doesn't just happen. It's planned." - Mike Jesowshek, CPA

"Learning is important, but implementation is the next step." - Mike Jesowshek, CPA

"Strategic planning helps turn dreams into reality by breaking down goals into actionable steps." - Mike Jesowshek, CPA

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Podcast Host: Mike Jesowshek, CPA - Founder and Host of Small Business Tax Savings Podcast

Join TaxElm: https://taxelm.com/

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