Small Business Tax Savings Podcast

Mike Jesowshek, CPA
  • 4.8 (264)
  • Entrepreneurship
  • Updated Weekly

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

  1. 1d ago

    The Mid-Year Tax Checkup Every Business Owner Needs

    Don’t wait until the last minute to start tax planning. Mid-year is one of the best times for business owners to review their tax situation. Most business owners wait until year-end to ask, “How can I lower my tax bill?” But by then, some of the best opportunities are already gone. Instead of making proactive tax-saving moves, you’re left doing damage control. In this episode, Mike walks through a simple mid-year tax checkup every small business owner should do before December. He covers how to review your income, estimate your tax liability, clean up your bookkeeping, evaluate your entity structure, plan retirement contributions, think through major purchases, and identify tax strategies you still have time to implement before year-end. 👉 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 01:00 Why Mid-Year Is the Sweet Spot for Tax Planning Mid-year gives business owners two major advantages: enough real financial data to review and enough time left in the year to implement strategies. 03:00 Grade Your Tax Planning Progress Business owners should evaluate whether they’ve only learned about tax strategies or have actually started implementing them. 04:00 Review Your Bookkeeping Before It Becomes a Problem Accurate bookkeeping is the foundation of good tax planning. Mid-year is the time to catch missing transactions, miscategorized expenses, personal charges, payroll errors, and missed deductions. 05:20 Review Your Entity Structure Your business structure should match your current income, profit, and tax strategy. This includes reviewing whether an LLC, S corporation, or multi-entity setup makes sense. 07:40 Review Retirement Contribution Opportunities Mid-year is a good time to look at retirement plan options, contribution goals, employee benefits, and whether your current plan still fits your business. 09:30 Analyze Big Purchases Before Making Them Buying equipment or vehicles just for the write-off is not a good strategy. Business owners should review whether the purchase is needed, how it will be paid for, and whether this year or next year makes more sense. 11:10 Look for Missed Tax Strategies Mid-year still leaves time to implement strategies like hiring your kids, using the Augusta Rule, setting up an accountable plan, reviewing health insurance deductions, and timing income and expenses. 13:20 Review Core and Advanced Tax Strategies Business owners who already use tax strategies should review whether they’re getting the full benefit. Higher-income business owners may need to look at more advanced planning opportunities. 16:00 Tax Planning Is Not a December Activity The best tax-saving opportunities happen when business owners still have time to make decisions, fix mistakes, and plan strategically before year-end. 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.

    19 min

  2. Jun 17

    How to Choose the Right Retirement Plan for Your Business

    Stop treating your retirement like a someday problem…For business owners, the right plan can be a valuable tax strategy. But too many entrepreneurs wait too long, choose the wrong plan, or assume a 401(k) is only for big companies.  In this episode, Mike sits down with Matt Ruttenberg to explain how retirement plans work for small business owners. They break down the differences between SEP IRAs, SIMPLE IRAs, solo 401(k)s, safe harbor 401(k)s, and defined benefit plans, plus the questions you should ask before choosing a plan, including your contribution goals, employee needs, cost, timing, and tax savings potential. 🚀 Ready to find the right retirement plan for your business? Start here: https://lifeincrs.com/tax-savings-podcast 👉 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 00:00 Why Retirement Planning Matters for Business Owners The wrong retirement plan can cost business owners tax savings, growth, and long-term financial security. 01:20 Retirement Plan Options for Business Owners A breakdown of SEP IRAs, SIMPLE IRAs, solo 401(k)s, safe harbor 401(k)s, defined benefit plans, and executive plans. 02:00 How to Choose the Right Plan The right plan depends on the owner’s goals, employee needs, contribution targets, and tax strategy. 04:30 Retirement Plans for Businesses With Employees Traditional 401(k)s, SIMPLE IRAs, state retirement programs, and safe harbor plans can help businesses offer employee benefits. 08:00 Retirement Plans for Solo Business Owners Owners without eligible employees may consider an IRA, Roth IRA, SIMPLE IRA, solo 401(k), or defined benefit plan. 11:35 Time, Maintenance, and Costs Plan setup and maintenance may include payroll setup, employee deferrals, compliance, annual testing, filings, and administrative costs. 18:50 Why Not All 401(k)s Are Created Equal Payroll-based 401(k)s are easier to start, while custom plans offer more flexibility for tax strategy, plan design, and business growth. 27:10 Tax Credits, Deadlines, and Final Takeaways SECURE 2.0 tax credits may help offset plan costs, but timing matters. Starting early helps avoid missed deadlines and lost tax savings. 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.

    35 min

  3. Jun 10

    Q&A: Are You Making These Common Small Business Tax Mistakes?

    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 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.

    27 min

  4. Jun 3

    The 4 Financial Roles Every Small Business Owner Needs

    Your CPA isn’t saving you money… And it’s probably not their fault.  Many business owners expect their CPA to handle everything: bookkeeping, tax filing, tax strategy, and financial guidance.  In this episode, Mike breaks down the four financial roles every business owner needs to understand: bookkeeper, tax preparer, tax strategist, and CFO or advisor. He explains what each role does, what they do not do, and how building the right financial team can help you stay compliant, make better decisions, and legally lower your tax bill. 👉 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 01:45 The Four Financial Roles Every Business Owner Needs A strong financial team is usually made up of multiple roles, not one person. The key roles are bookkeeper, tax preparer, tax strategist, and CFO or advisor. 02:00 The Bookkeeper: The Historian Bookkeepers track income, expenses, transactions, and financial statements. They help create clean, accurate books, but they usually do not provide tax strategy or planning advice. 03:00 The Tax Preparer: The Reporter Tax preparers file returns using completed books and past financial data. Their work focuses on compliance, not optimization, which is why tax filing alone usually does not create tax savings. 04:25 The Tax Strategist: The Architect Tax strategists look forward and build a plan to legally reduce taxes. This may include timing income, maximizing deductions, reviewing entity structure, and implementing proactive tax strategies. 05:55 The CFO or Advisor: The Navigator A CFO or advisor focuses on bigger financial decisions like cash flow, growth, profitability, and next steps. This role becomes more important as the business scales. 08:35 What a CPA Actually Is A CPA is a credential, not a guaranteed service package. Some CPAs prepare tax returns, some provide planning, some focus on bookkeeping, and some do not work in tax at all. 11:35 Where TaxElm Fits Into the Financial Team TaxElm focuses on the tax strategy layer. It does not replace bookkeepers or tax preparers, but helps business owners with proactive year-round planning and strategy implementation. 13:35 How to Know What Your Business Actually Needs The starting point depends on the gap in your business. Messy books point to bookkeeping, recurring surprise tax bills point to tax planning, and growth challenges may point to CFO-level advisory. 16:00 A Simple Framework for Your Financial Team Business owners need clean books, accurate filing, proactive planning, and strategic growth.  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.

    19 min

  5. May 27

    Why Bookkeeping Is One of Your Most Powerful Tax Strategies

    Your bookkeeping changes everything from a tax standpoint. If your books are messy, outdated, or based on guesswork, your tax planning is already working with bad information. You may miss deductions, misjudge your profit, make poor year-end decisions, or overpay the IRS without realizing it. In this episode, Mike breaks down why bookkeeping is not just administrative work. It is the foundation of smart tax planning. He explains what bookkeeping actually is, how your profit and loss statement and balance sheet affect your taxes, and why clean, accurate books help business owners make better decisions, reduce tax-season stress, and uncover more opportunities to lower their tax bill. 👉 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 00:58 Why Business Owners Ignore Bookkeeping Early Many new business owners focus on sales, growth, employees, and operations while treating bookkeeping as an afterthought. This creates problems later with taxes, stress, and missed opportunities. 03:15 Why Bookkeeping Is a Tax Strategy Tax strategy starts with accurate data. Business owners can’t maximize deductions, time income, plan asset purchases, or make smart tax decisions if their numbers are wrong. 06:30 Understanding the Profit and Loss Statement The profit and loss statement shows income, expenses, and profit. Since taxable income often starts with profit, this statement is where many tax-saving opportunities begin. 10:45 The Main Types of Bookkeeping Transactions There are four main transaction types to track: bank and credit card transactions, non-cash transactions, invoices, and bills. Where each transaction lands affects the tax impact. 13:30 Common Bookkeeping Mistakes Business Owners Make Common mistakes include inconsistent tracking, waiting until tax season, mixing business and personal expenses, and failing to keep clean records for 1099s. 15:00 What Accurate Books Actually Give You Clean bookkeeping helps business owners stop overpaying taxes, see opportunities in real time, make better decisions, reduce tax-season stress, and move from reactive to proactive planning. 16:00 A Simple System for Better Bookkeeping A simple bookkeeping system starts with cloud-based software, weekly transaction categorization, separate business and personal finances, and professional help when needed. Resources Mentioned: 👉  Kick: https://refer.kick.co/mike-jesowshek-cpa 👉  Quickbooks: https://quickbooks.partnerlinks.io/4k3apzwyyyhf 👉  Xero: https://xero5440.partnerlinks.io/i98ammvf3g9h-nx0cim   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.

    19 min

  6. May 20

    Hiring Remote Employees? You May Have Created State Tax Nexus

    Hiring one remote employee in another state changes everything from a tax standpoint. The same goes for selling products or services across state lines. Once your business creates a connection to another state, that state may expect you to register, file, collect taxes, or handle payroll compliance there. In this episode, Mike sits down with Nellie Akalp, CEO and Co-Founder of CorpNet, to break down state tax nexus in plain English. They explain what creates nexus, why remote employees and multi-state sales can trigger tax obligations, and what business owners need to do to avoid penalties, back taxes, and compliance headaches. 🚀 Need help registering in another state, setting up payroll tax accounts, or staying compliant as your business grows? Visit CorpNet at https://www.corpnet.com/?PID=1071 👉 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 00:58 What Is State Tax Nexus? State tax nexus is the connection your business has to a state that creates a legal obligation to follow that state’s tax laws. Nellie explains the two main types of nexus business owners need to understand: employee nexus and sales nexus. 03:30 Hiring Remote Employees in Another State Hiring one remote employee in another state can trigger payroll tax obligations, unemployment insurance registration, and state compliance requirements. Mike and Nellie explain why this should not stop you from hiring great talent, but it does need to be handled properly. 06:30 Why You Should Not Run Payroll by Hand Payroll tax rules change often, and running payroll manually can create serious compliance issues. Nellie explains why business owners should use payroll software or a payroll provider once they start hiring employees. 09:00 Common Mistakes Business Owners Make With Employee Nexus The biggest mistake is not knowing nexus exists. Nellie shares common issues like hiring remote employees without registering in the correct state, running payroll before accounts are set up, and forgetting ongoing filing requirements. 12:00 What Is Economic Nexus? Economic nexus is based on how much you sell into a state, even if you do not have an office or employees there. Nellie explains how the South Dakota v. Wayfair case changed the rules for out-of-state sellers. 14:00 Sales Thresholds and Multi-State Tax Obligations A common benchmark for economic nexus is $100,000 in sales or 200 transactions annually, but rules vary by state. Mike and Nellie explain why business owners should track sales by state and consider a nexus study as they grow. 16:30 Why E-Commerce Businesses Are More Exposed Online businesses often assume they have nothing to worry about because they do not have a physical location in other states. Nellie explains why e-commerce sellers can be especially exposed when they sell across multiple states. 18:00 Foreign Qualification and State Registration Some states may require your LLC or corporation to foreign qualify before registering for payroll tax accounts or sales tax accounts. Nellie explains what foreign qualification means and when it may apply. 20:30 Why Closing State Accounts Matters If you stop doing business in a state, terminate an employee, or move operations, you may need to close your state accounts properly. Otherwise, your business may keep receiving notices or filing requirements even with no activity. 22:30 What Happens If You Ignore Sales Tax Nexus? If your business has sales tax nexus and does nothing, states may assess back taxes, penalties, and interest. Mike and Nellie explain why sales tax exposure can be riskier because there may not be an automatic warning when you cross the line. 27:00 How to Fix Nexus Issues and Stay Compliant Nellie explains the three key steps: identify where you have nexus, get properly registered, and put a system in place to stay compliant. The goal is to stay proactive before a state comes knocking. 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.

    34 min

  7. May 13

    Meals and Travel Deductions: What Business Owners Need to Know in 2026

    You spend money on meals and travel all the time; Client lunches, flights, hotels, conferences, team dinners, and networking events are all part of running a business. But most business owners don’t know what is actually deductible anymore. In this episode, Mike breaks down the 2026 rules for meals, travel, and entertainment deductions. He explains what still qualifies, what changed, what is no longer deductible, and how business owners can turn everyday spending into legitimate tax savings without creating unnecessary IRS risk. 👉 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 00:58 Why Meals and Travel Deductions Matter Meals and travel are common business expenses, but many owners either under-deduct or deduct the wrong things. The goal is to turn qualified spending into pre-tax deductions with a clear business purpose.  02:30 How to Deduct Meals in 2026 Most business meals are 50% deductible in 2026. This includes client lunches, vendor meetings, and prospect meals, as long as there is a real business discussion. 04:30 When Meals Can Be 100% Deductible Some meals can be 100% deductible, such as food provided at sales seminars, company events, or employee parties when structured correctly. 06:00 Entertainment Rules Business Owners Need to Know Entertainment is generally not deductible, even if business is discussed. But meals and drinks purchased separately at those events may still qualify. 08:30 How Business Travel Deductions Work Business travel can include 100% deductions for flights, hotels, and transportation. Travel meals are generally 50% deductible. 11:30 Business Days, Tax Home Rules, and Mixed Travel To deduct travel, the trip needs a clear business purpose and must take you away from your tax home. Mike also explains business days, weekend rules, and mixed personal travel. 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.

    21 min

  8. May 6

    Should You Open Another LLC? Multi-Entity Structures Explained

    Should you open another LLC, elect S Corp status, or create a more advanced business structure? Mike breaks down when a multi-entity structure makes sense, and when it creates more confusion than value.  Learn when one LLC is enough, how S Corps and partnerships fit in, and why timing matters. Structure too early and you create chaos. Wait too long and you expose yourself to risk.  👉 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 (00:40) The Problem With “Just Open Another LLC” More entities do not automatically mean more tax savings. Opening LLCs too early can create costs, confusion, messy bookkeeping, and unnecessary complexity. (02:50) Active vs. Passive Business Activity Active operating businesses and passive activities, like rental real estate or investments, should usually stay separate because they have different tax treatment and risk profiles. (04:15) The First Triggers for Adding Another Entity Higher income, multiple revenue streams, different types of business activity, and different risk levels can signal that it may be time to consider a multi-entity structure. (08:00) Using an S Corp as a Management Company Instead of creating multiple S Corps, active LLCs can often be owned by one main S corporation, helping simplify tax filings, payroll, and planning. (11:15) How Partnerships Change the Structure When a partner enters the picture, a new entity is usually needed to create clean ownership, clear agreements, and easier exits. (14:15) The Risk of Structuring Too Early Creating multiple LLCs before there is real revenue or activity can lead to annual fees, confusion, co-mingled funds, and bookkeeping problems. (16:00) How to Know When You Are Ready Different income types, multiple revenue streams, liability concerns, sufficient profit, and current or future partners are all signs that a multi-entity structure may be worth considering. (20:00) The Bottom Line on Multi-Entity Structures Multi-entity structures are not about looking sophisticated. They are about solving real business problems at the right time, without creating chaos or waiting until the business is exposed. 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.

    22 min
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4.8
out of 5
264 Ratings

About

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

Information

  • Creator
    Mike Jesowshek, CPA
  • Years Active
    2018 - 2026
  • Episodes
    416
  • Rating
    Clean
  • Copyright
    © 2026 Small Business Tax Savings Podcast
  • Show Website
    Small Business Tax Savings Podcast

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