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Most people think tax planning is only for big corporations. But it’s one of the most powerful tools any small business owner can use to save money.

In this episode, Mike breaks down how tax planning is different from just filing your taxes, and why even brand-new business owners should be thinking about it. He also shares a real case study showing how one small business went from guessing on taxes to saving over $15,000 a year, just by planning ahead.

If you’ve ever wondered whether tax planning is for you, this episode is the place to start.

🚀 Book your free demo call today! Click here or visit: https://taxelm.com/demo/

Chapters:

(00:56) Tax Planning vs. Tax Prep
Mike breaks down the difference between filing taxes and making proactive decisions to lower your bill.

(05:11) Who Really Qualifies for Tax Planning
Whether you're a freelancer, side hustler, or growing business, tax planning applies to you.

(07:21) Why Tax Laws Exist
The government uses tax laws to encourage business ownership, investing, and spending in key areas.

(09:15) What Real Tax Planning Looks Like
Learn the 3 steps of tax planning: learn the strategy, implement it right, and lock in the savings.

(13:56) Case Study: How One Client Saved $15K
Mike shares a real story of a business owner who dropped their tax bill from $24K to $9K in just one year.

(19:06) How to Start Planning Today
Mike explains how to take the first step, even with free tools, and how to work with the TaxElm team.

Podcast Host:

Mike Jesowshek, CPA – Founder and Host of Small Business Tax Savings Podcast
Join TaxElm: https://taxelm.com

🚀 Visit: https://www.TaxSavingsPodcast.com

🚀 Check Out TaxElm: https://taxelm.com/

🚀 Join our Free Facebook Group: https://www.facebook.com/groups/taxsavings/

🚀 YouTube: www.TaxSavingsTV.com

👋🏼 GET IN TOUCH
You can Tweet @MJesowshek with any feedback, ideas, or thoughts about the lessons you've learned from the episodes. We want to thank you personally for tuning in 🙏

🙏 LEAVE A REVIEW
If you enjoy the podcast, please leave a 5-star review on Apple Podcasts or Spotify—it helps more business owners find the show ⭐

🎙 ABOUT THE PODCAST
The Small Business Tax Savings Podcast is your go-to resource for cutting-edge tax strategies to help entrepreneurs legally slash their tax bills. Hosted by Mike Jesowshek, CPA, this show breaks down complex tax topics into clear, no-fluff insights so you can keep more of your hard-earned money.

Send us a text

You’ve heard of Roth IRAs, but no one talks about when and how to convert.

In this episode, Mike breaks down exactly how a Roth conversion works, when it makes sense, and how to use it to build tax-free income in retirement.
He also unpacks the key differences between Traditional and Roth accounts, plus real-life stories of business owners who used this strategy to grow wealth the IRS can’t touch.

🚀 Book your free demo call today! Click here or visit: https://taxelm.com/demo/

Chapters:

(00:00) Roth vs. Traditional IRA
What’s the difference between Roth and Traditional retirement accounts, and how do taxes work with each?

(03:47) What a Roth Conversion Really Means
Learn what a Roth conversion is and why you pay taxes now in exchange for tax-free growth later.

(07:00) How to Do a Roth Conversion Smart
Mike shares five simple steps to do a Roth conversion and how to avoid paying too much tax.

(07:57) Strategic Roth Conversion Tips
He shows how converting in chunks and using lower tax brackets can save thousands over time.

(09:22) When a Roth Conversion Makes the Most Sense
Find out the best timing like low-income years, business loss years, or market dips.

(16:13) Real-Life Examples That Saved Big
Mike shares client stories showing how people used Roth conversions to save on taxes and grow money tax-free.

Podcast Host:

Mike Jesowshek, CPA – Founder and Host of Small Business Tax Savings Podcast
Join TaxElm: https://taxelm.com

🚀 Visit: https://www.TaxSavingsPodcast.com

🚀 Check Out TaxElm: https://taxelm.com/

🚀 Join our Free Facebook Group: https://www.facebook.com/groups/taxsavings/

🚀 YouTube: www.TaxSavingsTV.com

👋🏼 GET IN TOUCH
You can Tweet @MJesowshek with any feedback, ideas, or thoughts about the lessons you've learned from the episodes. We want to thank you personally for tuning in 🙏

🙏 LEAVE A REVIEW
If you enjoy the podcast, please leave a 5-star review on Apple Podcasts or Spotify—it helps more business owners find the show ⭐

🎙 ABOUT THE PODCAST
The Small Business Tax Savings Podcast is your go-to resource for cutting-edge tax strategies to help entrepreneurs legally slash their tax bills. Hosted by Mike Jesowshek, CPA, this show breaks down complex tax topics into clear, no-fluff insights so you can keep more of your hard-earned money.

Send us a text

Are you 100% sure your business entity is compliant? In this episode, Mike is joined by Nellie Akalp, CEO of CorpNet, to break down what compliance really means for LLCs and corporations. They cover everything from annual reports, meeting minutes, and registered agents to BOI reporting and choosing the right state to form your entity. You’ll also learn when it makes sense to do it yourself, hire a service, or bring in a lawyer and what mistakes could cost you your limited liability status. If you want to avoid penalties, fees, or even losing your business, this is a must-listen.

🚀 Book your free demo call today! Click here or visit: https://taxelm.com/demo/

Chapters:

(00:00) Why Entity Compliance Matters
Mike opens the episode with a warning: failing to stay compliant can result in fines, lawsuits, or even the loss of your business.

(01:40) Internal vs. External Compliance Explained
Nellie explains what most business owners miss after forming an LLC or corporation—and the filings you must keep up with.

(06:02) The Power of a Compliance Checklist
A simple checklist can save your business's status and reputation. Nellie shares how CorpNet helps clients stay in good standing.

(10:19) 3 Mindsets When Starting a Business
Do-it-yourself, hiring a service, or using an attorney; which is right for you? Nellie breaks down the pros and cons.

(22:30) Why Filing in Wyoming Might Hurt You
Nellie debunks the myth that forming your LLC in Nevada or Wyoming saves you money if your business operates elsewhere.

(28:46) Remote Employees and State Compliance
Hiring out-of-state? Here’s what you really need to know about payroll accounts and why you likely don’t need to be foreign qualified.

Need help staying compliant?
Check out CorpNet, they make it simple to handle filings, BOI reporting, and more.
👉 https://www.corpnet.com/?PID=1071

Podcast Host:

Mike Jesowshek, CPA – Founder and Host of Small Business Tax Savings Podcast
Join TaxElm: https://taxelm.com

🚀 Visit: https://www.TaxSavingsPodcast.com

🚀 Check Out TaxElm: https://taxelm.com/

🚀 Join our Free Facebook Group: https://www.facebook.com/groups/taxsavings/

🚀 YouTube: www.TaxSavingsTV.com

👋🏼 GET IN TOUCH
You can Tweet @MJesowshek with any feedback, ideas, or thoughts about the lessons you've learned from the episodes. We want to thank you personally for tuning in 🙏

🙏 LEAVE A REVIEW
If you enjoy the podcast, please leave a 5-star review on Apple Podcasts or Spotify—it helps more business owners find the show ⭐

🎙 ABOUT THE PODCAST
The Small Business Tax Savings Podcast is your go-to resource for cutting-edge tax strategies to help entrepreneurs legally slash their tax bills. Hosted by Mike Jesowshek, CPA, this show breaks down complex tax topics into clear, no-fluff insights so you can keep more of your hard-earned money.