What Year-End Tax Strategies Are Available to Business Owners?
Before you know it 12/31/24 will be gone and we will be onto 2025. One thing we talk about often is that once the clocks turns to 1/1 a vast majority of tax strategies are no longer available. Today we are going to go through some of the top strategies you want to be thinking […]
The Untold Benefits of Hiring Your Kids in Your Business
Hiring your kids is one of the top kept tax saving secrets. Now when we start this conversation with clients a lot of people cringe and think this is something that the IRS surely would not allow. However, that is not the case. This is actually discussed directly in the tax code. However, it must […]
The Untold Benefits of Hiring Your Kids in Your Business
Hiring your kids is one of the top kept tax saving secrets. Now when we start this conversation with clients a lot of people cringe and think this is something that the IRS surely would not allow. However, that is not the case. This is actually discussed directly in the tax code. However, it must […]
Small Business Tax Savings Podcast – 5 Years in Review
First things first, I want to say thank you. Thank you for following and continuing to support the Small Business Tax Savings Podcast. It is because of listeners like you that we continue to do what we do. Our #1 goal is to help business owners pay the least amount in taxes as legally possible! Now […]
Listener Q&A with Mike Jesowshek CPA (10/18/2023)
On this Podcast we answer listener questions! If you have a question you would like discussed on a future episode, submit it now! Go to www.TaxSavingsPodcsat.com Click Podcast Scroll to the Bottom and Submit Your Question You never know, your question may be on the next Q&A session. Below are today’s questions, tune into our Podcast to […]
How Do I Reimburse Myself From the Business? When Does An Accountable Plan Come Into Play?
“I paid for business items personally, how do I get those recorded in the business?” “I have some items that are both business and personal mix. How do I report those? Should I run them through the business or should I run them personally and reimburse myself?” Questions like these are something we hear from our […]
How Do I Reimburse Myself From the Business? When Does An Accountable Plan Come Into Play?
“I paid for business items personally, how do I get those recorded in the business?” “I have some items that are both business and personal mix. How do I report those? Should I run them through the business or should I run them personally and reimburse myself?” Questions like these are something we hear from our […]
How Do I Write Off a Business Vehicle?
One thing I am continually seeing in both our Free Facebook Group and Tax Minimization Program is confusion around business vehicles. Lets take the time here to outline the things you need to know! We are going to go through a series of decisions you will make when deducting a vehicle in your business. First things first be sure […]
What Is Depreciation for My Business? When Does a Capitalization Policy Make Sense?
Depreciation… one word that can make a business owner (and even many accountants) cringe. However, understanding it and how to implement it correctly in your business can make a big impact. That is exactly what I will be talking about here. What Is Depreciation? At a very basic level, depreciation is simply the process of spreading […]
Kiddie Tax Explained: A Comprehensive Guide for Parents
Parents need to be aware of the Kiddie Tax, a provision that was instituted in the United States to prevent parents from taking advantage of their children’s tax-free status. The tax affects minors’ unearned income and can have significant financial consequences for their families. In this blog post, we’ll explain what the Kiddie Tax is, how […]