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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Podcast Website: https://www.TaxSavingsPodcast.com
Facebook Group: https://www.facebook.com/groups/taxsavings/
YouTube: https://www.youtube.com/@TaxSavings
Vehicle Depreciation Before Year-End
Financing Small Businesses and Franchises (w/ Special Guest Paul Bosley)
Deducting Travel For Business
Preparing Your Bookkeeping for Year-End
Marketing in the Digital Era (w/ Special Guests Jeff Van Kampen and Nick Urso)
Expensing Items Under $2,500 (Safe Harbor Method)
Accountable Plan Importance (Expense Reimbursement)
Home Office Deduction for S Corporations
Appearance on The Mind Body Business Show with Brian Kelly
Quarterly Estimated Taxes for Business Owners
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
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