Too Much Profit? Double Your Income Without Doubling Your Taxes

May 14, 2025

Many business owners mistakenly believe that earning less will lower their tax bills. This mindset can be detrimental. Understanding that taxes are just a percentage can empower you to make smarter financial decisions. Learn how fear leads to wasteful spending and how to shift to strategy-focused planning. Discover effective tools like S-Corp elections and retirement plans that legally minimize taxes. Hear success stories of those who doubled their income while reducing their tax burden through informed decision-making.

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INSIGHT

Taxes Are A Percentage

Taxes are a percentage, not the whole amount you earn. Mike Jesowshek shows that $100 of income in a 24% bracket still leaves $76 after tax.

ADVICE

Report Income, Don't Hide It

Avoid illegal underreporting driven by fear of taxes. Report income correctly and use legal strategies instead of hiding revenue.

ADVICE

Stop Year‑End Wasteful Purchases

Don't buy unneeded items at year-end just to lower profit. Spending $100k to save $24k still leaves you $76k worse off, so plan instead.

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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
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🎙 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.