Small Business Tax Savings Podcast

On this episode Mike Jesowshek, CPA brings on guest, Jack Wang, to discuss the strategies available to increase college financial aid as part 3 of our mini series around college savings and financial aid. 1) Which of these schools give - and which students get money? 2) What does this all mean? LINKS FROM THE SHOW Show Blog: https://www.taxsavingspodcast.com/blog/what-strategies-are-available-to-i...

On this episode Mike Jesowshek, CPA brings on guest, Jack Wang, to discuss the basics around financial aid for college as part 2 of our mini series around college savings and financial aid. 1) What are the types of aid? 2) What are the sources of aid? 3) What year counts for financial aid? 4) What does this all mean? LINKS FROM THE SHOW Show Blog: https://www.taxsavingspodcast.com/blog/what-are-th...

On this episode Mike Jesowshek, CPA brings on guest, Jack Wang, to discuss the options available for college saving as part 1 of our mini series around college savings and financial aid. LINKS FROM THE SHOW Show Blog: https://www.taxsavingspodcast.com/blog/what-options-are-available-for-college-saving Join Our Tax Minimization Program: https://www.taxsavingspodcast.com/tax   -------- Podcast Host:...

On this episode Mike Jesowshek, CPA talks about taxes around the sale of your home. 1) What Is The Home Sale Gain Exclusion? 2) How Does The Home Sale Gain Exclusion Work If It Had Business Use? 3) Sale of Home Examples LINKS FROM THE SHOW Show Blog: https://www.taxsavingspodcast.com/blog/do-i-have-to-pay-taxes-if-i-sell-my-home The Ultimate Guide to Real Estate Taxes: https://www.taxsavingspodcas...

On this episode Mike Jesowshek, CPA wraps up  our mini real estate series with a special guest to discuss minimizing taxes while growing wealth utilizing real estate. His name is Dave Zook. This is one listen you do not want to miss! LINKS FROM THE SHOW Show Blog: https://www.taxsavingspodcast.com/blog/interview-with-dave-zook-minimizing-taxes-while-growing-wealth-utilizing-real-estate The Ultimat...

On this episode Mike Jesowshek, CPA adds to a series we are doing on rental property taxes and discusses entity structures for rental properties. 1) What Do I Need To Know About Entity Structures for Real Estate? 2) Should I Use An S Corp for Rental Properties? 3) Should I Setup My Own Management Company? 4) Should I Rent My Building to My Business? 5) Entity Structure Summary LINKS FROM THE SHOW...

On this episode Mike Jesowshek, CPA adds to a series we are doing on rental property taxes and discusses short term rentals. 1) What Does The IRS Consider a Short Term Rental? 2) What Are The Different Tax Treatments for Short Term Rentals? 3) What Are The Pros and Cons Of Having Short Term Rental On Schedule C? 4) What Are The Pros and Cons Of Having Short Term Rental On Schedule E? LINKS FROM TH...

On this episode Mike Jesowshek, CPA adds to a series we are doing on rental property taxes and discusses expenses available for rental property owners. 1) What Expenses Can I Deduct For Rental Properties? 2) What Are Some Examples of Deductible Rental Property Expenses? 3) What Unique Expense Tax Strategies Are Available for Rental Properties? LINKS FROM THE SHOW Show Blog: https://www.taxsavingsp...

On this episode Mike Jesowshek, CPA adds to a series we are doing on rental property taxes and discusses being classified as an active investor or real estate professional. 1) What Is An Active Real Estate Investor? 2) What Is A Real Estate Professional? 3) Active Investor and Real Estate Professional Example and Summary LINKS FROM THE SHOW Show Blog: https://www.taxsavingspodcast.com/blog/what-is...

On this episode Mike Jesowshek, CPA adds to a series we are doing on rental property taxes and discusses real estate losses. 1) Why Do Rental Properties Often Produce a Loss? 2) How Are Passive Losses Handled? 3) How Can I Utilize Passive Losses? LINKS FROM THE SHOW Show Blog: https://www.taxsavingspodcast.com/blog/what-do-i-need-to-know-about-real-estate-losses The Ultimate Guide to Real Estate T...

On this episode Mike Jesowshek, CPA adds to a series we are doing on rental property taxes and discusses real estate repairs and improvements. 1) What Are Real Estate Repairs and Maintenance? 2) What Are Real Estate Improvements? 3) How Do I Turn Spending Into Repairs vs Improvements? LINKS FROM THE SHOW Show Blog: https://www.taxsavingspodcast.com/blog/how-are-real-estate-repairs-and-improvements...

On this episode Mike Jesowshek, CPA adds to a series we are doing on rental property taxes and discusses depreciation. 1) What Parts of Rental Real Estate Can Be Depreciated? 2) What Is the Depreciable Life for a Real Estate Investment? 3) What Is a Cost Segregation Study? 4) What Is Bonus Depreciation? 5) Rental Property Depreciation Example LINKS FROM THE SHOW Show Blog: https://www.taxsavingspo...

On this episode Mike Jesowshek, CPA talks with Guy Baker about Charitable Remainder Trusts (CRT) and how they can be used to eliminate capital gain taxes. 1) What Is A Charitable Remainder Trust (CRT)? 2) How Does A Charitable Remainder Trust (CRT) Work?  3) What Are Things to Consider With A Charitable Remainder Trust (CRT)?  4) What Different Types of Charitable Remainder Trusts (CRTs) Are There...

On this episode Mike Jesowshek, CPA talks about how cryptocurrency is taxed. 1) How Is Crypto Taxed? 2) What Crypto Is Taxed At Capital Gain vs Ordinary Income Tax? 3) What Crypto Activity Is NOT Taxable? 4) What Happens If I Have a Crypto Loss? 5) Do I Need To Report Crypto To The IRS? 6) What Are Some Tax Strategies Around Crypto? LINKS FROM THE SHOW Show Blog: https://www.taxsavingspodcast.com/...

On this episode Mike Jesowshek, CPA talks what portfolio income is and how it is taxed. 1) What Is Portfolio Income? 2) How Is Portfolio Income Taxed? 3) What Is The Good Thing About Portfolio Income? 4) What Type Of Income Is Non-Taxable? 5) Portfolio and Non-Taxable Income - Summary LINKS FROM THE SHOW Show Blog: https://www.taxsavingspodcast.com/blog/portfolio-income-how-is-my-income-taxed Join...

On this episode Mike Jesowshek, CPA talks what passive income is and how it is taxed. 1) What Is Passive Income? 2) How Is Passive Income Taxed? 3) What Is The Good Thing About Passive Income? 4) What Are The Passive Activity Loss Rules? 5) Passive Income - Summary LINKS FROM THE SHOW Show Blog: https://www.taxsavingspodcast.com/blog/passive-income-how-is-my-income-taxed Join Our Tax Minimization...

On this episode Mike Jesowshek, CPA talks what earned income is and how it is taxed. 1) What Is Earned Income? 2) How Is Earned Income Taxed? 3) How Is S Corporation Income Taxed? 4) What Is The Good Thing About Self Employment Income (or Non Passive S Corp Income)? 5) Earned Income - Summary LINKS FROM THE SHOW Show Blog: https://www.taxsavingspodcast.com/blog/earned-income-how-is-my-income-taxed...

On this episode Mike Jesowshek, CPA talks the two main types of tax, ordinary income tax and capital gain tax. 1) What Is Ordinary Income Tax? 2) What Is A Capital Gain or Loss? 3) What Are Capital Gain Tax Rates? 4) How Are Capital Losses Treated? 5) What Other Taxes Are There?  LINKS FROM THE SHOW Show Blog: https://www.taxsavingspodcast.com/blog/what-is-ordinary-income-tax-vs-capital-gain-tax S...

On this episode Mike Jesowshek, CPA talks about how credit card rewards are taxed. 1) How Are Frequent Flyer Miles, Hotel Points, and Other Credit Card Point Rewards Taxed? 2) How Are Cash Back Rewards and Rebates Taxed? 3) How Are Credit Card Sign-Up Bonuses Taxed? 4) What Happens If I Donate Credit Card Cash Rewards/Rebates to Charity? 5) Credit Card Rewards Summary LINKS FROM THE SHOW Show Blog...

On this episode Mike Jesowshek, CPA does a full business retirement plan Q&A with Matt Ruttenberg from Life Inc Retirement Services. Get in contact with Matt Ruttenberg or find previous episodes here: https://www.taxsavingspodcast.com/blog/business-retirement-plan-q-a-session Join Our Tax Minimization Program: https://www.taxsavingspodcast.com/tax   -------- Podcast Host: Mike Jesowshek, CPA -...

On this episode Mike Jesowshek, CPA talks the tax rates for 2022 along with other important resources. 1) 2022 Individual Tax Rates 2) 2022 Business Tax Rates 3) 2022 Social Security and Medicare Tax Rates 4) 2022 Capital Gain Tax Rates 5) 2022 Standard Deduction 6) 2022 Retirement Plans 7) 2022 Vehicle Deductions 8) 2022 Medical Expense Within our blog post we also have a complete desktop guide t...

On this episode Mike Jesowshek, CPA talks about estate tax and what you need to know. 1) What Is Inheritance Tax and Estate Tax? 2) When Does Estate Tax Matter? 3) If I Gift Assets or Money, Is That Taxed? 4) How Do I Minimize Estate Taxes? 5) Estate Taxes Summary LINKS FROM THE SHOW Show Blog: https://www.taxsavingspodcast.com/blog/how-are-my-assets-taxed-when-i-die Sign-Up for LIVE Webinar (2022...

On this episode Mike Jesowshek, CPA talks Andrew M Ayers in a part 3 of our estate planning mini series about a revocable living trust. 1) Types of Trusts 2) When Should I Create A Trust? 3) Do I Still Need a Will? 4) What Are The Main Components of a Trust? Some Terminology 5) Mistakes to Avoid LINKS FROM THE SHOW Show Blog: https://www.taxsavingspodcast.com/blog/what-is-a-revocable-living-trust-...

On this episode Mike Jesowshek, CPA talks Andrew M Ayers in a part 2 of our estate planning mini series about the power of attorney document. 1) Financial Power of Attorney 2) Signing Your POA 3) Where Do You Get One? 4) What Do You Do With It When It's Signed? 5) Healthcare Power of Attorney 6) What's in a Healthcare Power of Attorney? 7) Signing Your Healthcare Power of Attorney 8) HIP...

On this episode Mike Jesowshek, CPA talks to Andrew M Ayers and kick off our estate planning mini series about the wills. 1) Do I Need a Will? 2) Do I Want to Avoid Probate Court? 3) Probate v. Non-Probate Assets 4) What's in Your Will? 5) Signing Your Will 6) How Often Should You Update Your Will? LINKS FROM THE SHOW Show Blog: https://www.taxsavingspodcast.com/blog/what-is-a-last-will-and-t...