Small Business Tax Savings Podcast

Your health insurance could do more than cover medical emergencies. With the right strategy, it could also help you save on taxes. 

In this episode, Mike Jesowshek, CPA, breaks down health insurance options for small business owners, from group plans to employee reimbursements and stipends. He explains the steps S corp owners need to take to deduct their health insurance premiums and how eligible business owners can use an HSA ...

Documentation 101: How to Prepare for an IRS Audit 

You claimed the deduction. But if the IRS asks, can you prove it?

Mike Jesowshek, CPA, explains which records you need to support your business expenses. Learn how to document purchases, keep clean books, and organize your receipts so you’re prepared if the IRS comes knocking.

👉Find out how much your business could save in taxes.

TaxSavingsPodcast.com/scorecard 

🚀 Boo...

Are you missing out on the home office deduction because you think your workspace doesn’t qualify?

In this episode, Mike Jesowshek explains who qualifies for the home office deduction and how to calculate it using either the simplified or actual expense method. He also breaks down the regular and exclusive use rules, how the deduction differs for sole proprietors and S Corporation owners, and why a qualifying home office could...

Are you missing out on a business vehicle deduction, or claiming more than you’re actually allowed?

In this episode, Mike Jesowshek explains how business vehicle deductions work, including the difference between the standard mileage and actual expense methods. He also breaks down the 6,000-pound vehicle rule, business versus personal mileage, vehicle ownership, and the records you need to protect your deduction.

You’ll le...

Is growing your business creating more stress instead of more freedom? 

In this episode, Mike Jesowshek breaks down what commonly starts to fail as a business reaches $250,000, $500,000, and $1 million in revenue. He explains why your personal capacity, internal systems, financial visibility, and ability to delegate must evolve as the business grows.

You’ll learn how to stop becoming the bottleneck, protect profitability, ...

Could Bitcoin mining turn a major business expense into a tax-saving opportunity?

In this episode, Mike Jesowshek and Colin from Leverage Mining explore how owning mining equipment could help business owners earn Bitcoin and claim potential tax deductions. They break down the upfront costs, participation requirements, and why a tax write-off alone isn’t enough to make this investment worthwhile.

You’ll learn who this stra...

Discover how you can save over 5 figures in taxes with my 3-step tax shift system in my upcoming masterclass on September 1st at 7PM EST

Join here: https://taxsavingspodcast.com/masterclass/

If your business earns between $50,000 and $750,000 in annual profit, you're probably paying thousands more in federal taxes than necessary.

But filing a tax return isn’t the same as tax planning. 

Proactive tax planning helps you make s...

🚀  Discover how you can save over 5 figures in taxes with my 3-step tax shift system in my upcoming masterclass on September 1st 7PM EST

Join here:  https://taxsavingspodcast.com/masterclass/

Selling a business, rental property, or investment can create a significant capital gains tax bill. Could investing in an Opportunity Zone help you delay that tax and potentially eliminate taxes on future growth?

We cover how Qualified...

Can you deduct your dog, pay your child tax-free, or claim the kitchen table as a home office? Tax rules for small business owners aren’t always straightforward. Wrong assumption could lead to missed deductions or problems with the IRS.

In this Q&A episode, Mike answersyour questions. He explains which expenses may qualify when a dog is used for marketing, how hiring children differs between an S corporation and a sole pro...

Life insurance isn’t just a way to protect your family. For the right business owner, it can also provide tax-efficient growth, access to capital, and long-term financial flexibility.

In this episode, Mike and Matt explain how cash value life insurance works, including tax-deferred growth, policy loans, death benefits, and long-term care benefits. They also break down term, whole, and universal life insurance, who this strateg...

Paying yourself the lowest possible S Corp salary might save taxes today, but it could create a much bigger tax bill later.

In this episode, Mike explains how to determine a reasonable S Corp salary based on your role, hours, local market wages, business profit, and cash flow. He also breaks down payroll timing, salary adjustments, documentation, and how to protect your S Corp tax savings while staying compliant with IRS rules.

👉Fin...

Will electing S Corporation status ALWAYS save your business thousands in taxes? While that can be true, an S Corp also brings additional payroll requirements, tax filings, costs, and responsibilities.

In this episode, we break down how an S Corp reduces self-employment taxes, when the election usually makes financial sense, and which factors you need to consider before making the switch.

👉Find out how much your business could save ...

👉 Ready to simplify your recordkeeping? Check out Shoeboxed to organize receipts, track mileage, and keep your business expenses audit-ready. Visit https://referrals.shoeboxed.com/mb4p7wl1ithi

You could qualify for thousands of dollars in tax deductions, but without the right documentation, the IRS could take them away.

Mike sits down with Doug Breaker, owner of Shoeboxed, to explain how proper recordkeeping helps business owners pr...

Can a rental property put $30,000 in your pocket without adding $30,000 to your taxable income? Let’s talk about rental property tax strategies

Mike explains how rental real estate can create tax savings even when you can’t use rental losses to offset your business or W-2 income. 

He breaks down the difference between cash flow and taxable income, how depreciation can shelter rental income, and what happens to suspen...

👉 Interested in learning more about oil and gas investing?  Email us at ask@taxsavingspodcast.com and we’ll connect you with Nick White and the team at US Energy.

Big tax deduction or risky investment? Oil and gas investing can be a powerful tax strategy for high-income business owners, but it’s not something to jump into just because you want a write-off.

In this episode, Mike sits down with Nick White from US Ener...

Free money for kids? Not so fast. Trump Accounts could become one of the newest long-term wealth-building tools for families, but you need to understand how they work, who qualifies, and how they fit into a bigger tax and investment strategy.

In this episode, Mike breaks down everything you need to know about the Trump Accounts. He covers the contribution rules, tax-deferred growth, employer contribution opportunities, Roth conversi...

Don’t wait until the last minute to start tax planning. Mid-year is one of the best times for business owners to review their tax situation. Most business owners wait until year-end to ask, “How can I lower my tax bill?” But by then, some of the best opportunities are already gone. Instead of making proactive tax-saving moves, you’re left doing damage control.

In this episode, Mike walks through a simple mid-...

Stop treating your retirement like a someday problem…For business owners, the right plan can be a valuable tax strategy. But too many entrepreneurs wait too long, choose the wrong plan, or assume a 401(k) is only for big companies. 

In this episode, Mike sits down with Matt Ruttenberg to explain how retirement plans work for small business owners. They break down the differences between SEP IRAs, SIMPLE IRAs, solo 401(k)...

Small tax mistakes can cost you thousands, even when you think you’re doing everything right.

From missing a filing deadline to misunderstanding how a deduction works, small errors can quickly turn into penalties, lost deductions, and a higher tax bill.

In this episode, Mike answers real tax questions from small business owners covering gambling losses, BOI reporting, moving an S corporation to another state, the Augusta Rule, ...