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🚀Ready to stop overpaying the IRS? Sign up for my free webinar on July 15th! Click here or visit: https://www.taxsavingspodcast.com/webinar

We’re halfway through the year, now’s the best time to check if you’re on track to pay less tax and avoid surprises. Mike explains why mid-year is the perfect time to review your entity setup, learn and apply tax strategies, check your income and tax bracket, shift spending from after-tax to pre-tax, plan for retirement, and catch up on bookkeeping. Don’t wait until December; take action now and save big.

🚀 Book your free demo call today! Click here or visit: https://taxelm.com/demo/

Chapters:

(00:00) Why Mid-Year Planning Matters
Why planning now beats waiting until year-end. Avoid surprises and stay ahead.

(01:01) Review Your Entity Structure
Check if your LLC or S Corp is still right. Organize businesses and rentals smartly.

(04:50) Learn and Implement Tax Strategies
Tax breaks exist for a reason — learn, apply, and do it right to actually save.

(07:53) Check Your Income and Tax Bracket
Know where you stand. Spot bracket changes and plan moves like Roth conversions.

(10:13) Maximize Deductions: Pre-Tax vs After-Tax
Shift expenses (travel, meals, kids’ pay) from after-tax to pre-tax. Keep more money.

(18:03) Retirement, Investments & Advanced Strategies
Plan retirement accounts, strategic investments, and advanced moves like rentals, oil & gas.

(25:06) Catch Up Bookkeeping & Next Steps
Get your books in order now. Take action before it’s too late to benefit.

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
If you enjoy the podcast, please leave a 5-star review on Apple Podcasts or Spotify—it helps more business owners find the show ⭐

🎙 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.

Send us a text

🚀 Ready to stop overpaying the IRS? Sign up for my free webinar on July 15th! Click here or visit: https://www.taxsavingspodcast.com/webinar

Got a question about taxes, business expenses, or running your LLC? You’re not alone.
In this Q&A episode, Mike tackles common questions from real business owners — covering topics like closing a business, low-income LLCs, vetting tax pros, and how to treat certain deductions.

Whether you’re just starting out or already scaling, these answers can save you time, money, and legal headaches.

🚀 Book your free demo call today! Click here or visit: https://taxelm.com/demo/

Chapters:

(01:07) Should I Close My LLC or Just Repurpose It?
Mike explains when to shut down your LLC vs. when to reuse it for another business.

(04:18) Is It Bad If My LLC Made Less Than $3K?
Low income doesn’t mean you’re in trouble — but watch out for hobby loss rules.

(06:22) How to Vet a Tax Strategist (Beyond TikTok Tips)
Not all flashy advice is safe. Here’s how to find a real expert who won't put you at IRS risk.

(09:48) Do I Still Need to Pay Estimated Taxes?
Mike explains the IRS “safe harbor” rule and how to avoid penalties — even if you expect a refund.

(18:58) Should I Track Mileage If I Use the Actual Method?
Yes! Even without the standard mileage deduction, the IRS still expects a log.

(21:46) Can I Deduct Clothing With My Logo On It?
Branded gear might be deductible — but there’s a right (and wrong) way to do it.

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
If you enjoy the podcast, please leave a 5-star review on Apple Podcasts or Spotify—it helps more business owners find the show ⭐

🎙 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.

Send us a text

Missed the S Corp deadline? Don’t panic. In this episode, Mike breaks down how to file a late S Corp election the right way so you can still unlock major tax savings. You’ll learn what an S Corp really is, who qualifies, how to calculate your savings, and what to watch out for when making the switch. Plus, the exact steps to file a late election with the IRS, without triggering a red flag.

🚀 Book your free demo call today! Click here or visit: https://taxelm.com/demo/

Chapters:

(00:57) What Is an S Corp?

An S Corp is a tax status that lets you split income into salary and distributions to lower your self-employment tax.

(02:36) S Corp vs. Sole Proprietor: Tax Savings Example

Mike walks through an $80K income example showing how S Corp status can save over $5,000 in taxes every year.

(05:25) When Should You Elect S Corp Status?

If you’re earning $50K+ in profit and expect to grow, it may be time to switch, but only if you can handle the added costs.

(08:06) Common Mistakes with S Corps

Avoid these pitfalls: no LLC, premature elections, and not paying yourself the right salary.

(12:11) How to File a Late S Corp Election

The IRS allows late elections. Just file Form 2553 with a proper reason and follow the Rev Proc 2013-30 guidelines.

(16:32) Payroll Is Not Optional

If you backdate your election, you must also backdate your payroll. The IRS checks for this, so don’t skip it.

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
If you enjoy the podcast, please leave a 5-star review on Apple Podcasts or Spotify—it helps more business owners find the show ⭐

🎙 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.

Send us a text

Most people think tax planning is only for big corporations. But it’s one of the most powerful tools any small business owner can use to save money.

In this episode, Mike breaks down how tax planning is different from just filing your taxes, and why even brand-new business owners should be thinking about it. He also shares a real case study showing how one small business went from guessing on taxes to saving over $15,000 a year, just by planning ahead.

If you’ve ever wondered whether tax planning is for you, this episode is the place to start.

🚀 Book your free demo call today! Click here or visit: https://taxelm.com/demo/

Chapters:

(00:56) Tax Planning vs. Tax Prep
Mike breaks down the difference between filing taxes and making proactive decisions to lower your bill.

(05:11) Who Really Qualifies for Tax Planning
Whether you're a freelancer, side hustler, or growing business, tax planning applies to you.

(07:21) Why Tax Laws Exist
The government uses tax laws to encourage business ownership, investing, and spending in key areas.

(09:15) What Real Tax Planning Looks Like
Learn the 3 steps of tax planning: learn the strategy, implement it right, and lock in the savings.

(13:56) Case Study: How One Client Saved $15K
Mike shares a real story of a business owner who dropped their tax bill from $24K to $9K in just one year.

(19:06) How to Start Planning Today
Mike explains how to take the first step, even with free tools, and how to work with the TaxElm team.

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
If you enjoy the podcast, please leave a 5-star review on Apple Podcasts or Spotify—it helps more business owners find the show ⭐

🎙 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.

Send us a text

You’ve heard of Roth IRAs, but no one talks about when and how to convert.

In this episode, Mike breaks down exactly how a Roth conversion works, when it makes sense, and how to use it to build tax-free income in retirement.
He also unpacks the key differences between Traditional and Roth accounts, plus real-life stories of business owners who used this strategy to grow wealth the IRS can’t touch.

🚀 Book your free demo call today! Click here or visit: https://taxelm.com/demo/

Chapters:

(00:00) Roth vs. Traditional IRA
What’s the difference between Roth and Traditional retirement accounts, and how do taxes work with each?

(03:47) What a Roth Conversion Really Means
Learn what a Roth conversion is and why you pay taxes now in exchange for tax-free growth later.

(07:00) How to Do a Roth Conversion Smart
Mike shares five simple steps to do a Roth conversion and how to avoid paying too much tax.

(07:57) Strategic Roth Conversion Tips
He shows how converting in chunks and using lower tax brackets can save thousands over time.

(09:22) When a Roth Conversion Makes the Most Sense
Find out the best timing like low-income years, business loss years, or market dips.

(16:13) Real-Life Examples That Saved Big
Mike shares client stories showing how people used Roth conversions to save on taxes and grow money tax-free.

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
If you enjoy the podcast, please leave a 5-star review on Apple Podcasts or Spotify—it helps more business owners find the show ⭐

🎙 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.

Send us a text

Are you 100% sure your business entity is compliant? In this episode, Mike is joined by Nellie Akalp, CEO of CorpNet, to break down what compliance really means for LLCs and corporations. They cover everything from annual reports, meeting minutes, and registered agents to BOI reporting and choosing the right state to form your entity. You’ll also learn when it makes sense to do it yourself, hire a service, or bring in a lawyer and what mistakes could cost you your limited liability status. If you want to avoid penalties, fees, or even losing your business, this is a must-listen.

🚀 Book your free demo call today! Click here or visit: https://taxelm.com/demo/

Chapters:

(00:00) Why Entity Compliance Matters
Mike opens the episode with a warning: failing to stay compliant can result in fines, lawsuits, or even the loss of your business.

(01:40) Internal vs. External Compliance Explained
Nellie explains what most business owners miss after forming an LLC or corporation—and the filings you must keep up with.

(06:02) The Power of a Compliance Checklist
A simple checklist can save your business's status and reputation. Nellie shares how CorpNet helps clients stay in good standing.

(10:19) 3 Mindsets When Starting a Business
Do-it-yourself, hiring a service, or using an attorney; which is right for you? Nellie breaks down the pros and cons.

(22:30) Why Filing in Wyoming Might Hurt You
Nellie debunks the myth that forming your LLC in Nevada or Wyoming saves you money if your business operates elsewhere.

(28:46) Remote Employees and State Compliance
Hiring out-of-state? Here’s what you really need to know about payroll accounts and why you likely don’t need to be foreign qualified.

Need help staying compliant?
Check out CorpNet, they make it simple to handle filings, BOI reporting, and more.
👉 https://www.corpnet.com/?PID=1071

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
If you enjoy the podcast, please leave a 5-star review on Apple Podcasts or Spotify—it helps more business owners find the show ⭐

🎙 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.

Send us a text

🚀 Book your free demo call today! Click here or visit: https://taxelm.com/demo/

Too many business owners think they should avoid making more money just to lower their tax bill. In this episode, Mike shares why that mindset is costing you far more than taxes ever will. He breaks down why taxes are just a percentage, how fear leads to bad decisions, and the smart tax strategies that let you keep more of your income legally. You’ll learn how to shift from fear-based spending to strategy-first planning and start building real wealth.

Chapters:

(00:00) The Most Dangerous Tax Mindset
Mike explains why being afraid to earn more profit is the biggest mistake business owners make.

(02:00) How Taxes Actually Work
A simple breakdown of why taxes are just a percentage and why earning more still puts money in your pocket.

(03:04) How Fear of Taxes Leads to Bad Choices
From underreporting income to wasting money on things you don’t need, fear of taxes leads to poor decisions.

(07:55) After-Tax vs Pre-Tax Spending Explained
Learn how to move personal spending into your business legally to lower your taxable income.

(10:58) Smart Tax Strategies That Actually Work
Mike covers powerful tools like S-Corp election, retirement plans, HSAs, and more that reduce your taxes the right way.

(17:07) Why More Income Should Empower You, Not Stress You
Mike shares how his client doubled income and paid less in taxes by switching from fear to smart planning.

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
If you enjoy the podcast, please leave a 5-star review on Apple Podcasts or Spotify—it helps more business owners find the show ⭐

🎙 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.

Send us a text

🚀 Book your free demo call today! Click here or visit: https://taxelm.com/demo/

Most people think an HSA is just for doctor visits—but it’s actually one of the most powerful retirement tools available. In this episode, Mike breaks down how to use your Health Savings Account to save on taxes, grow your money, and even invest for the future. If used right, it’s like a secret weapon for building wealth.

Chapters:

(00:32) What is an HSA?

Mike explains how an HSA works, what makes it different from an FSA, and what medical expenses qualify.

(01:35) The Triple Tax Benefit

You get a deduction when you put money in, tax-free growth, and tax-free withdrawals if used right.

(03:50) HSA Contribution Limits for 2025

Learn how much you can contribute depending on whether you have an individual or family plan.

(05:04) HSA Eligibility Rules

Mike walks through what qualifies as a high-deductible health plan and other requirements you must meet.

(07:23) How to Use an HSA for Retirement

This part explains how to grow your HSA like a retirement fund by investing and saving receipts.

(10:05) Avoid the Withdrawal Penalty

If you withdraw funds the wrong way, you’ll pay penalties—unless you follow these simple rules.

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
If you enjoy the podcast, please leave a 5-star review on Apple Podcasts or Spotify—it helps more business owners find the show ⭐

🎙 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.