Small Business Tax Savings Podcast
Business:Entrepreneurship
Send us a text
What is the best approach for your taxes as a W2 earner? In this episode of the Small Business Tax Savings Podcast, Mike discusses strategies to save on taxes and grow wealth. Learn how to take advantage of employer matches, and traditional or ROTH IRA contributions, become an active investor in rental properties, qualify as a real estate professional, use the short-term rental loophole, and explore other opportunities to offset income with rental losses.
Mike covers everything from pre-tax retirement, contributions, Health Savings Accounts (HSAs), rental properties, starting a business, itemized deductions, and standard education.
Tune in now and listen as Mike provides tips and tricks to find out when income begins to increase, and more advanced planning opportunities like charitable activities or solar investments may become available!
[00:24] Maximize Your Tax Savings And Secure Your Financial Future
[04:15] Maximize Your Retirement Savings And Take Advantage Of Tax Benefits
[08:37] Maximizing Your Tax Savings As A W2 Income Earner
[15:32] Closing Segment
Key Quotes
“When you make pre-tax contributions, you get a tax deduction. You're not taxed on that. You can reduce your taxable income by that amount when you contribute to that retirement plan. But when you withdraw in retirement, you pay taxes on that. So, think of the strategy as more like a tax deferral. Get a tax break today, but pay taxes later on.” – Mike Jesowshek, CPA
______
Podcast Host: Mike Jesowshek, CPA - Founder and Host of Small Business Tax Savings Podcast
Join Our Tax Minimization Program: https://www.taxsavingspodcast.com/tax
IncSight Packages: https://incsight.net/pricing/
Book an Initial Consultation: https://app.simplymeet.me/o/incsight/sale
-------
Podcast Website: https://www.TaxSavingsPodcast.com
Facebook Group: https://www.facebook.com/groups/taxsavings/
--------
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
Hiring Your Spouse: Business Boost or Bust?
Listener Q&A with Mike Jesowshek CPA
Unlock Your Business Potential: Exploring Non-Qualified Retirement Plans!
Rental Property Tax Essentials: Top Tips & Updates for 2023 You Need to Know
Cracking the Code: Corporate Transparency Act Explained for Small Business Owners
Top 10 Mid-Year Tax Saving Strategies Every Small Business Owner Must Know
Team, Funding, and Summary - Back of the Napkin to Business Plan in 11 Slides with Brandon White
Competition and Financials - Back of the Napkin to Business Plan in 11 Slides with Brandon White
Market, Traction, and Milestones - Back of the Napkin to Business Plan in 11 Slides with Brandon White
Title, Problem, and Solution - Back of the Napkin to Business Plan in 11 Slides with Brandon White
Listener Q&A with Mike Jesowshek, CPA
What Is an S Corp and Should I Become One in 2023?
How Is My Income Taxed?
What Retirement Plan Options Are Available For My Business in 2023?
How Do I Avoid an IRS Audit as a Business Owner?
How Can I Maximize Meals and Travel Deductions?
How Can I Maximize Office Expenses and Employee Benefits?
How Can I Maximize Advertising and Gift Deductions?
How Can I Maximize Deductions in My Business?
Listener Q&A with Mike Jesowshek, CPA
Create your
podcast in
minutes
It is Free
Make Me Smart
Tax Chats
WSJ Your Money Briefing
NerdWallet’s Smart Money Podcast
The Indicator from Planet Money