Send us a Text Message.Are you wondering if filing separately might be the right choice for your tax situation? In this episode, Mike Jesowshek discusses various aspects of 'married filing separately' tax status, explaining when this filing status could be advantageous. He primarily mentions scenarios such as a high medical expense situation for one spouse, significant student loan debt based on income for one spouse, or a tax lien on one spouse. Though in general, he believes 'married f...

Decoding The Tax Puzzle: Understanding Married Filing Separately

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

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Send us a Text Message.Ever wondered how to save on taxes with your business meal expenses?In this episode, Mike Jesowshek discusses the ins and outs of meal expense deductions for small business owners. He explains how these deductions can turn after-tax spending into pre-tax spending and outlines the criteria for deductibility. Mike emphasizes the importance of detailed record-keeping and highlights various scenarios where meal expenses can be deducted. He also touches on the differentiatio...

Unlocking the Secrets of Meal Expense Deductions for Small Businesses in 2024

Send us a Text Message.Have you ever wondered how to turn your everyday expenses into legitimate business deductions?Mike Jesowshek discusses strategies for maximizing small business tax deductions, emphasizing the importance of both obvious and non-obvious deductions. He explains that any expense, whether ordinary or necessary for the business, qualifies as a deductible. Mike emphasizes proper documentation and legal compliance to ensure these deductions are valid. He also contrasts pre-tax ...

Top Small Business Tax Deductions: How to MAXIMIZE Savings

Send us a Text Message.Are you leveraging the latest tax credits to provide the best retirement plans for your employees?Hosts Mike Jesowshek and guest Matt Ruttenberg discuss retirement plan options for businesses with employees. The conversation highlights various types of retirement plans like SEP IRAs, SIMPLE IRAs, Safe Harbor 401(k)s, and traditional 401(k)s. They explore the benefits of these plans, particularly in light of recent tax credits and laws that make setting up these plans mo...

Empower Your Team: Choosing the Right Retirement Plan for Your Small Business with Employees

Send us a Text Message.Are you a solo entrepreneur puzzled by the myriad of retirement planning options?Mike Jesowshek welcomes back Matt Ruttenberg to discuss retirement plan options for solo entrepreneurs without employees. They highlight various plans like IRAs, SIMPLE IRAs, SEP IRAs, and solo 401(k)s, emphasizing the importance of starting with the desired savings amount to determine the most suitable plan. The episode covers the contribution limits, the benefits of each plan type, and th...

Best Retirement Plans for Solo Entrepreneurs: 2024 Guide to Maximizing Savings with No Employees

Send us a Text Message.Are you a small business owner curious about the financial benefits of establishing a retirement plan for your company?In this episode, Mike Jeshowshek and guest Matt Ruttenberg discuss the substantial tax credits and key due dates associated with setting up retirement plans for small businesses, introduced by Secure 2.0. They delve into specific credits available, such as the startup credit and the auto-enrollment credit, and outline who qualifies for these benefits. M...

Decoding The Tax Puzzle: Understanding Married Filing Separately

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