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Too many business owners think they should avoid making more money just to lower their tax bill. In this episode, Mike shares why that mindset is costing you far more than taxes ever will. He breaks down why taxes are just a percentage, how fear leads to bad decisions, and the smart tax strategies that let you keep more of your income legally. You’ll learn how to shift from fear-based spending to strategy-first planning and start building real wealth.

Chapters:

(00:00) The Most Dangerous Tax Mindset
Mike explains why being afraid to earn more profit is the biggest mistake business owners make.

(02:00) How Taxes Actually Work
A simple breakdown of why taxes are just a percentage and why earning more still puts money in your pocket.

(03:04) How Fear of Taxes Leads to Bad Choices
From underreporting income to wasting money on things you don’t need, fear of taxes leads to poor decisions.

(07:55) After-Tax vs Pre-Tax Spending Explained
Learn how to move personal spending into your business legally to lower your taxable income.

(10:58) Smart Tax Strategies That Actually Work
Mike covers powerful tools like S-Corp election, retirement plans, HSAs, and more that reduce your taxes the right way.

(17:07) Why More Income Should Empower You, Not Stress You
Mike shares how his client doubled income and paid less in taxes by switching from fear to smart planning.

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

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

Most people think an HSA is just for doctor visits—but it’s actually one of the most powerful retirement tools available. In this episode, Mike breaks down how to use your Health Savings Account to save on taxes, grow your money, and even invest for the future. If used right, it’s like a secret weapon for building wealth.

Chapters:

(00:32) What is an HSA?

Mike explains how an HSA works, what makes it different from an FSA, and what medical expenses qualify.

(01:35) The Triple Tax Benefit

You get a deduction when you put money in, tax-free growth, and tax-free withdrawals if used right.

(03:50) HSA Contribution Limits for 2025

Learn how much you can contribute depending on whether you have an individual or family plan.

(05:04) HSA Eligibility Rules

Mike walks through what qualifies as a high-deductible health plan and other requirements you must meet.

(07:23) How to Use an HSA for Retirement

This part explains how to grow your HSA like a retirement fund by investing and saving receipts.

(10:05) Avoid the Withdrawal Penalty

If you withdraw funds the wrong way, you’ll pay penalties—unless you follow these simple rules.

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

🚀 Visit https://taxelm.com/webinars/ to save your seat!

On May 14 at 2 PM EST, join Mike for a live webinar to unveil a brand-new feature inside TaxElm that will transform the way small business owners approach tax planning. It’s simple, powerful, and built specifically for real business owners who want less stress and more clarity when it comes to their taxes.

Here’s what you’ll learn in the webinar:

• How this new TaxElm feature simplifies your tax planning process
• Why it’s designed for entrepreneurs—not accountants
• How to use it to build a smarter, more proactive tax strategy

🎯 Save your spot now: www.taxelm.com/webinars

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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, we'd love for you to leave a 5-star review on Apple Podcasts or Spotify to help others discover the show ⭐

🎙 ABOUT THE PODCAST

The Small Business Tax Savings Podcast is your go-to resource for cutting-edge tax strategies designed to help entrepreneurs and small business owners legally slash their tax bills. Hosted by Mike Jesowshek, CPA, this podcast breaks down complex tax topics into clear, actionable, no fluff insights, so you can maximize your savings and keep more of your hard-earned money.