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Small Business Tax Savings Podcast
The Small Business Tax Savings Podcast is designed specifically for small business owners. We focus on tax savings and ways to have a financially sound back bone to your small business. Our goal is to have you paying the least amount in taxes as legally possible.Hosted by by Mike Jesowshek, CPA, this is a quick hitting podcast aimed to get you important information without all the fluff. You can find episodes, blog posts, information on our software TaxElm and more on our website: www.TaxSavingsPodcast.com
Small Business Tax Savings Podcast
Q&A: Are You Making These Common Small Business Tax Mistakes?
Use Left/Right to seek, Home/End to jump to start or end. Hold shift to jump forward or backward.
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, HSAs, late 1099s, estimated tax penalties, startup expenses, vehicle write-offs, and more. He breaks down the rules, explains the available options, and shares practical steps to help you stay compliant and avoid costly tax mistakes.
👉 Get the Free Tax Savings Starter Kit Built for Small Business Owners:
https://www.taxsavingspodcast.com/starterkit
🚀 Book your free demo call today. Click here or visit:
https://taxelm.com/demo/
Chapters
00:45 Gambling Losses, BOI Reporting, and Moving an S Corp
Mike explains gambling deductions, current BOI filing rules, and what happens when an S corporation moves states.
05:40 The Augusta Rule, HSAs, and Nonprofit Approval
Learn how to document Augusta Rule meetings, coordinate HSA contributions, and apply for 501(c)(3) status.
10:20 Health-Sharing Plans, Late 1099s, and Estimated Tax Penalties
Mike covers health-sharing deductions, missed 1099 deadlines, and penalties after a late-year property sale.
16:25 Seasonal Income, Inventory Credit, and Pre-Revenue Businesses
Find out how seasonal businesses handle estimated taxes, how much inventory to finance, and what to file before earning revenue.
20:15 Late Schedule C Filings, C Corp Owner Pay, and Vehicle Write-Offs
Mike explains prior-year Schedule C filings, how C corporation owners are paid, and choosing between mileage and actual vehicle expenses.
Resources Mentioned:
👉 www.FinCen.gov
Podcast Host:
Mike Jesowshek, CPA – Founder and Host of Small Business Tax Savings Podcast
Join TaxElm: https://taxelm.com
🚀 Visit: https://www.TaxSavingsPodcast.com
🚀 Check Out TaxElm: https://taxelm.com/
🚀 Join our Free Facebook Group: https://www.facebook.com/groups/taxsavings/
🚀 YouTube: www.TaxSavingsTV.com
👋🏼 GET IN TOUCH
You can Tweet @MJesowshek with any feedback, ideas, or thoughts about the lessons you've learned from the episodes. We want to thank you personally for tuning in 🙏
🙌LEAVE A REVIEW
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🎙 ABOUT THE PODCAST
The Small Business Tax Savings Podcast is your go-to resource for cutting-edge tax strategies to help entrepreneurs legally slash their tax bills. Hosted by Mike Jesowshek, CPA, this show breaks down complex tax topics into clear, no-fluff insights so you can keep more of your hard-earned money.
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