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 […]
Maximize Your Money: Unveiling Game-Changing Tax Strategies for W2 Earners
We are always talking about business owners and what tax strategies are available to them but I wanted to take a week off and talk about W2 employees. What tax strategies are available for W2 employees? One thing to note is that for the most part, all of these strategies are still available for business owners! […]
Hiring Your Spouse: Business Boost or Bust?
In the world of small business, the idea of hiring your spouse might be appealing. It’s a decision that has far-reaching implications, and often times people jump to it or avoid it without thinking about the tax impact. In this blog post, we’ll explore the tax advantages and disadvantages of making your spouse a part […]
Hiring Your Spouse: Business Boost or Bust?
In the world of small business, the idea of hiring your spouse might be appealing. It’s a decision that has far-reaching implications, and often times people jump to it or avoid it without thinking about the tax impact. In this blog post, we’ll explore the tax advantages and disadvantages of making your spouse a part […]
Listener Q&A with Mike Jesowshek CPA (08/16/2023)
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 […]
Unlock Your Business Potential: Exploring Non-Qualified Retirement Plans!
When it comes to retirement planning for small business owners there are a lot of options available which can be confusing. There is no one strategy that is perfect for everyone and when we look at the non-qualified options it is usually after we have already exhausted our qualified options or you have a specific […]
Cracking the Code: Corporate Transparency Act Explained for Small Business Owners
There is a chance that this is the first time you heard of this “Corporate Transparency Act”. Soon it will affect nearly all business owners around the country and we want to ensure you are up to speed so you can be prepared and have it on your radar. We had a special guest, John R. […]
Top 10 Mid-Year Tax Saving Strategies Every Small Business Owner Must Know
As a small business owner, maximizing profits is probably one of your top priorities. While cutting costs is one way to do it, minimizing taxes is a another strategic approach. Taxes can take a significant chunk out of your profits, but you can reduce your tax liability through a careful, planned, and intentional approach to tax […]