Small Business Tax Savings Podcast
Business:Entrepreneurship
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Have you ever wondered how to structure your multiple business ventures efficiently while minimizing your tax burden?
Mike Jesowshek delves into the complexities of business structuring, particularly for individuals owning multiple businesses or in partnership. He emphasizes the utility of S Corporations in reducing self-employment taxes and the importance of establishing a parent S Corporation to streamline business operations, financial management, and tax filing. Mike advocates for separate bookkeeping for each entity, despite their consolidation under the parent S Corp, to maintain clarity in financial and legal aspects.
[00:00 - 04:20] Introduction to Business Structuring and Exploring S Corporation Complexities
[04:20 - 07:03] Structuring for Operational Efficiency
[07:03 - 11:32] Tax Considerations and Partnership Structures
[11:32 - 20:09] Practical Tips and Conclusion
Direct Quotes:
"When we talk about S Corporations, obviously the goal is to minimize self-employment taxes, but S Corps comes with some complexities as well." - Mike Jesowshek, CPA
"We want to have one company that we're actively participating in running through with all of our income before touching us. And we want that company to be in most cases, an S corporation." - 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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Coronavirus (COVID-19) - Tax Deadlines/Extensions and Student Loan Payments by Employer
Free Bookkeeping Training Program & Community Giving
Coronavirus (COVID-19) - PPP Forgiveness Information and Certification
Coronavirus (COVID-19) - Employee Retention Tax Credit
Coronavirus (COVID-19) - Relief Options Summary
Coronavirus - CARES Act - Checks, Charity, and NOLs
Coronavirus - COVID-19 Government Loan Options Update (EIDL vs PPP)
Coronavirus - Government Loan Options (May Be Forgiven)
Coronavirus - Planning and Expense Cutting
Coronavirus - Embrace The Situation and Be A Leader
Tax Issues? What You Need to Know About Tax Resolution
2019 Tax Due Dates and 2020 Tax Guide
Are various income types taxed differently?
High End Tax Strategies (w/ Special Guest Alex Sonkin)
Per Diem for Employees
Per Diem for Business Owners
Charitable Giving - Personally or Through a Business?
Does No 1099 Mean No Deduction?
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