Small Business Tax Savings Podcast
Business:Entrepreneurship
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What are the pros and cons of having a business-owned vehicle versus a personally-owned vehicle? In this episode of the Small Business Tax Savings Podcast, Mike dives into the often confusing and overwhelming topic of business vehicles. From selecting, buying, and maintaining a car for business use to proving business use of a vehicle to the IRS. Mike offers up his expertise on how to make sure you’re getting the most out of your vehicle when it comes to tax deductions.
Mike covers the pros and cons of having a business-owned versus personally-owned vehicle, as well as tips for determining the business use percentage and tracking mileage.
Tune in now and listen as Mike shares his advice on how to select, buy, maintain, and write off a car for business use!
[00:24] Get The Facts On Mileage Logs And Proving Business Use
[07:26] Determining Business Use Of A Vehicle
[09:17] Understanding How To Deduct Vehicle Expenses
[15:34] Closing Segment
Key Quotes
“Whether you have a vehicle that's in your personal name or your business name and you use it for business, either way, is acceptable. You just need to make sure that you're following the correct process, whichever way you do it.” – Mike Jesowshek, CPA
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Podcast Host: Mike Jesowshek, CPA - Founder and Host of Small Business Tax Savings Podcast
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To find out more on this topic and many others visit our website at www.TaxSavingsPodcast.com. You can also give us a call at 844-327-9272 or send your questions to us at: Ask@TaxSavingsPodcast.com
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CRM and Digital Marketing (w/ Special Guest Fred Varin and Jackie Brajner)
Business Meal Tax Deductions After Tax Law
Using Habits to Attain Goals
Stop Commingling Personal and Business Items
Tax Savings for Real Estate Investors (w/ Special Guest Paul Moore)
Sole Props and Partners Mistakenly Paying Themselves Illegal W2 Wages
Hiring Your Children in Your Business
Mortgages for the Self Employed (w/ Special Guest Bill Moeller)
Looking Ahead to 2019 Taxes
Xerocon and Free Bookkeeping Training Program
Turning a Side Hustle Into a Business (w/ Special Guest Eric Rosenberg)
Time Tracking for Employees and Job Costing (TSheets)
Payroll in the Modern Day (Gusto)
Business Credit and Alternative Funding (w/ Special Guest Kimberly Massey)
SIMPLE IRA and 401(k)
SEP IRA and Solo 401(k)
Passive Investing Using Real Estate (w/ Special Guest Lane Kawaoka)
Traditional and Roth IRA Overview
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