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 is a business podcast hosted by Mike Jesowshek, CPA, with 430 episodes on record and a Required Pod Score of 80.

Mike Jesowshek, CPA hosts Small Business Tax Savings Podcast, a business show with 430 episodes published.

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  Small Business Tax Savings Podcast

  Documentation 101: How to Prepare for an IRS Audit

  Sep 30, 202630 min

  Documentation 101: How to Prepare for an IRS Audit You claimed the deduction. But if the IRS asks, can you prove it? Mike Jesowshek, CPA, explains which records you need to support your business expenses. Learn how to document purchases, keep clean books, and organize your receipts so you’re prepared if the IRS comes knocking. Find out how much your business could save in taxes. TaxSavingsPodcast.com/scorecard Book your free demo call today. Click here or visit: https://taxelm.com/demo/ Chapters: 00:00 Your Tax Deductions Need Documentation Paying with a business card doesn’t automatically make a purchase deductible. You need records showing what you bought and why it was business related. 03:00 Audit Selection vs. Audit Outcome Even well-organized businesses can get audited. Good documentation helps you support your deductions if you’re selected. 08:00 The Proof Behind a Business Deduction Every deduction needs an actual transaction, a business purpose, and the correct tax treatment. Your supporting records should match. 12:00 Clean Books and Separate Bank Accounts Separate business and personal accounts, update your books regularly, and clearly label expenses, transfers, and owner activity. 14:00 Business Structure, Payroll, and Reimbursements Your tax filings and records should match your business structure. Payroll, accountable plans, and meeting records need proper implementation. 17:00 What to Record Beyond the Receipt Document the business purpose and who was involved. Supporting invoices, calendar entries, and emails can help explain the expense. 19:00 Supporting Records for Mileage, Travel, and More Mileage, travel, equipment, contractors, loans, and reimbursements each need records that support the transaction. 20:00 Building an Audit-Ready Workflow Capture receipts promptly, add context, categorize expenses consistently, and save your documents digitally. 22:00 Testing Whether You Can Find Your Records Choose an older transaction or five large expenses. Check whether you can quickly find the records supporting them. 23:00 What to Do When an Audit Letter Arrives Read the request carefully, meet deadlines, organize your response, and speak with a qualified tax professional. 25:00 How Good Documentation Pays Off Organized records make audit responses faster and deductions easier to defend. Clean books also help you make business decisions. 27:00 Why Tax Strategies Need a Paper Trail Putting a strategy into practice includes documenting it. Hiring your kids, for example, requires records of their work and payments . 28:00 Key Takeaways and Next Steps Clean books and timely documentation help you prepare for an audit. Learn where to find support implementing tax strategies. 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 ⭐

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  Small Business Tax Savings Podcast

  How to Claim the Home Office Deduction in 2026

  Sep 23, 202620 min

  Are you missing out on the home office deduction because you think your workspace doesn’t qualify? In this episode, Mike Jesowshek explains who qualifies for the home office deduction and how to calculate it using either the simplified or actual expense method. He also breaks down the regular and exclusive use rules, how the deduction differs for sole proprietors and S Corporation owners, and why a qualifying home office could unlock additional business mileage deductions. You’ll learn how to choose the right calculation method, document your workspace, avoid common mistakes, and turn expenses you’re already paying into a legitimate business tax deduction. Find out how much your business could save in taxes. TaxSavingsPodcast.com/scorecard Book your free demo call today. Click here or visit: https://taxelm.com/demo/ 00:00 How the Home Office Deduction Works The home office deduction allows business owners to turn a portion of expenses they’re already paying, including rent, utilities, insurance, and homeownership costs, into legitimate business deductions. 02:20 Who Qualifies for a Home Office Deduction? A qualifying workspace must be used regularly and exclusively for business. It doesn’t need to be an entire room, but the separation between business and personal use must be clear. 04:15 What Counts as Your Principal Place of Business? Your home doesn’t need to be the only place where you work. A home office may qualify if you regularly use it for administrative or management activities such as bookkeeping, scheduling, invoicing, planning, and customer follow-ups. 06:30 The Simplified Home Office Deduction The simplified method provides a deduction of $5 per qualifying square foot, up to 300 square feet. It requires less recordkeeping but limits the maximum annual deduction to $1,500. 08:50 How the Actual Expense Method Works The actual method calculates your deduction using the percentage of your home used for business. It may include a portion of rent, mortgage interest, property taxes, utilities, insurance, repairs, cleaning, and depreciation. 10:50 Simplified vs. Actual Expenses The simplified method may be easier, but the actual method can produce a significantly larger deduction. Business owners should calculate both methods each year before deciding which one to use. 11:35 How to Claim the Deduction Based on Your Business Structure Sole proprietors and single-member LLCs generally claim the deduction through Schedule C and Form 8829. S Corporation owners typically need an accountable plan to reimburse themselves properly for home office expenses. 13:40 How a Home Office Can Unlock Business Mileage A qualifying home office may establish the starting point of your business day. This can allow trips from your home office to clients, suppliers, job sites, or other business locations to qualify as deductible business mileage rather than commuting. 15:30 Common Home Office Deduction Mistakes Personal use of the workspace, estimated measurements, missing housing records, and incorrect treatment based on business structure can weaken or eliminate the deduction. 16:30 Your Home Office Deduction Checklist Photograph and measure your workspace, confirm your home’s total square footage, collect your annual housing expenses, compare both calculation methods, and document how the deduction will be handled based on your entity type. 17:50 Equipment and Other Home Office Deductions Computers, desks, cameras, microphones, and other business equipment should generally be analyzed separately. The home office calculation focuses on the cost of the qualifying physical space rather than the equipment used to operate the business. 18:25 How to Make Your Home Office Deduction Defensible The goal isn’t to claim your entire home as a business expense. It’s to identify the portion legitimately used for business, document it properly, choose the best calculation method, and revisit the deduction each year. 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 ⭐

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  Episode #427

  Business Vehicle Tax Deductions: What You Can Write Off in 2026

  Sep 16, 202625 min

  Are you missing out on a business vehicle deduction, or claiming more than you’re actually allowed? In this episode, Mike Jesowshek explains how business vehicle deductions work, including the difference between the standard mileage and actual expense methods. He also breaks down the 6,000-pound vehicle rule, business versus personal mileage, vehicle ownership, and the records you need to protect your deduction. You’ll learn how to choose the right deduction method, avoid costly mistakes, and turn legitimate business driving into a defensible tax strategy. Find out how much your business could save in taxes. TaxSavingsPodcast.com/scorecard Book your free demo call today. Click here or visit: https://taxelm.com/demo/ 00:00 How Business Vehicle Tax Deductions Work Vehicle deductions should begin with a legitimate business purpose, not the type of vehicle you want to purchase. Business use determines the deduction, regardless of whose name is on the title or whether the vehicle displays your company logo. 02:29 Standard Mileage vs. Actual Expenses The standard mileage method provides a set deduction for each documented business mile. The actual expense method deducts the business-use portion of costs such as fuel, insurance, repairs, lease payments, interest, and depreciation. 05:20 How to Choose the Right Deduction Method Compare your expected mileage, business-use percentage, purchase price, operating costs, and potential deductions over several years. 06:55 The 6,000-Pound Vehicle Tax Strategy Vehicles with a gross vehicle weight rating above 6,000 pounds may qualify for different depreciation treatment. But the available deduction still depends on business use, vehicle classification, taxable income, and the depreciation method used. 09:45 Should the Vehicle Be in Your Personal or Business Name? A vehicle doesn’t always need to be titled in the company’s name to qualify for a deduction. Personally owned vehicles may be reimbursed for business use, while personal use of a company-owned vehicle may need to be treated as a taxable fringe benefit. 12:30 What Counts as Business Mileage? Driving between your home and regular office is generally considered commuting. Trips between business locations, client meetings, job sites, suppliers, and other qualifying destinations may count as deductible business mileage. 15:15 The Records You Need to Protect Your Deduction Business owners should track the date, destination, purpose, and mileage of every business trip. Mileage records are necessary even when using the actual expense method because they support the vehicle’s business-use percentage . 19:00 How to Claim the Vehicle Deduction Sole proprietors and single-member LLCs generally claim vehicle expenses on Schedule C. S Corporation owners may deduct a company-owned vehicle’s expenses through the business or use an accountable plan to reimburse business use of a personally owned vehicle. 20:20 Business Vehicle Deduction Checklist Establish the vehicle’s business purpose, estimate business and personal mileage, compare both deduction methods, check the vehicle’s weight rating, and consider whether buying or leasing makes more sense. 22:00 Avoid This Expensive Vehicle Tax Mistake A deductible vehicle isn’t free. Before purchasing an expensive truck or SUV for the write-off, calculate the actual tax savings and make sure the vehicle is something the business genuinely needs. 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 ⭐

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  Episode #426

  What Breaks at $250K, $500K, and $1M in Revenue?

  Sep 9, 202626 min

  Is growing your business creating more stress instead of more freedom? In this episode, Mike Jesowshek breaks down what commonly starts to fail as a business reaches $250,000, $500,000, and $1 million in revenue. He explains why your personal capacity, internal systems, financial visibility, and ability to delegate must evolve as the business grows. You’ll learn how to stop becoming the bottleneck, protect profitability, build a team you can trust, and create the systems and proactive tax plan needed to scale without burning out. Find out how much your business could save in taxes. TaxSavingsPodcast.com/scorecard Book your free demo call today. Click here or visit: https://taxelm.com/demo/ Chapters: (03:00) Building Systems at $250,000 in Revenue Informal processes and information stored in the owner’s head stop working as the business expands. Mike explains how simple checklists and screen recordings can create more consistent results without constant supervision. (07:00) Delegation Becomes Essential at $500,000 Hiring someone doesn’t automatically reduce the owner’s workload. Effective delegation requires clear outcomes, deadlines, decision-making authority, performance measures, and trust in the people you hire. (10:15) Making Tax Planning Proactive As profit increases, reactive tax planning becomes more expensive. Mike covers estimated payments, entity structure, reasonable compensation, retirement opportunities, documentation, and other areas growing businesses should review throughout the year. (13:00) When the Owner Becomes the Bottleneck At around $1 million in revenue, the business may have employees and systems but still depend on the owner for every major decision. Mike shares the warning signs that the company cannot operate without your constant involvement. (14:25) Building Leaders, Not Just Hiring Helpers Every major function of the business needs clear ownership, measurable goals, and appropriate decision-making authority. Developing capable leaders allows the owner to step away from daily operations and focus on direction. (18:20) How the Owner’s Role Must Change The habits that help start a business can become liabilities as it grows. Moving to the next stage requires the owner to spend less time completing tasks and more time planning, coaching, reviewing numbers, and developing people. (19:45) Mike’s Experience Scaling His Accounting Firm Mike shares how keeping every process in his head and remaining involved in every client created problems as his firm grew. He explains how those lessons shaped the way he approached building his next company. (22:25) What Kind of Business Do You Actually Want? Not every owner wants to build a $100 million company. Mike closes by encouraging business owners to define the business and lifestyle they want, then build the systems, team, financial structure, and tax plan required to support 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 ⭐

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  Small Business Tax Savings Podcast

  MASTERCLASS: How to Cut Your Tax Bill by $15,000 or More

  Aug 28, 20262 min

  Discover how you can save over 5 figures in taxes with my 3-step tax shift system in my upcoming masterclass on September 1st at 7PM EST Join here: https://taxsavingspodcast.com/masterclass/ If your business earns between $50,000 and $750,000 in annual profit, you're probably paying thousands more in federal taxes than necessary. But filing a tax return isn’t the same as tax planning. Proactive tax planning helps you make smarter decisions while there’s still time to reduce your bill. On Tuesday, September 1 at 7:00 PM Eastern Time, Mike Jesowshek, CPA, is hosting a free 90-minute live masterclass on how business owners can cut their tax bills by $15,000 or more. During the training, you’ll learn: Mike’s three-step Tax Shift System How proactive planning can uncover missed tax savings The difference between tax preparation and tax planning How an S Corp election could save an $80,000-profit business around $5,300 per year ✅ Which strategies may apply to your business and income Mike will also stay after the training for a live Q&A, where you can ask about your entity, income, children, rental properties, or other tax questions specific to your situation. The training is completely free, but you’ll need to reserve your seat. Register now at taxsavingspodcast.com/masterclass See you there!

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