1365 – Keeping Every Dollar of Your Profit with Mike Jesowshek

In this episode of the Thoughtful Entrepreneur, your host Josh Elledge speaks to the Host of Small Business Tax Savings Podcast, Mike Jesowshek.

Small Business Tax Savings podcast brings awareness to tax strategies that can help businesses of different sizes maximize deductions. They help business owners keep most of the earnings while paying as little tax as legally possible. Mike talks about tax strategies business owners tend to overlook and ways to maximize deductions. There are many strategies agency owners can explore. However, he recommends that it's essential to take time to do tax planning. Look at core tax planning, strategize and implement it in your business.

Key points from this episode:

Overview of Tax Savings Podcast
Most under-utilized tax strategies people overlook
Maximizing deductions
After-tax vs Pre-tax dollars
Different types of tax strategies for different sizes of businesses
Downfalls involved with S Corporation.
Legal benefits of getting an LLC entity
Tax strategies Agency owners should look at
How to be strategic with tax saving?

About Mike Jesowshek:

Mike is a forward-thinking CPA on a mission to guarantee that small business owners pay the least amount of taxes legally possible. He has spent his entire career as an entrepreneur. Throughout this, he witnessed all stages of business, from the good to the bad. This is why he has made it his mission to assist enterprises in experiencing achievements and setbacks. This is the origin of the Small Business Tax Savings Podcast. His ultimate goal is to help business owners in an area they are generally unfamiliar with, accounting, while also ensuring they pay the least amount of taxes legally possible.

About Small Business Tax Savings Podcast:

It’s geared toward small business owners. They specialize in tax savings and solutions to provide small businesses with a solid financial foundation. They aim to make their clients pay as little tax as legally possible. This quick-hitting podcast hosted by Mike Jesowshek, CPA, aims to provide business owners with critical information without all the fluff.

Tweetable Moments:

03:06 – “That home office that we have, that computer that we bought, that desk that we bought, all of those are tax deductions to us now that we're business owners.”

03:21 – “When we talk about maximizing deductions, that's the core concept that we're talking about. We're not talking about go out and buy, spend a bunch of money that you don't need to spend or things on things that you don't need.”

11:53 – “As long as you're making some type of money, it normally makes sense to just kind of spend a little bit of cash to, to be able to get that LLC rolling.”

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Links Mentioned in this Episode:

Want to learn more? Check out the Small Business Tax Savings Podcast website at

https://www.taxsavingspodcast.com/

Check out the Small Business Tax Savings Podcast LinkedIn at

https://www.linkedin.com/company/taxsavings/

Check out the Small Business Tax Savings Podcast Instagram at

https://www.instagram.com/taxsavings/

Check out the Small Business Tax Savings Podcast Facebook at

https://www.facebook.com/TaxPodcast/

Check out the Small Business Tax Savings Podcast Twitter at