Small Business Tax Savings Podcast

Q&A: The Tax Strategy Hierarchy Every Small Business Owner Should Know

13 snips
Aug 13, 2025
Discover essential tax planning strategies for small business owners, including core methods like hiring family members and maximizing deductions. Explore advanced tactics such as asset purchases and the tax implications of short-term rentals. Learn how 1099 income can provide unique advantages and navigate the intricacies of partnerships for smarter planning. The discussion also unpacks the Big Beautiful Bill, guiding listeners on how to lower AGI and avoid phase-outs for high earners.
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INSIGHT

Core-First Tax Hierarchy

  • Mike Jesowshek divides tax strategies into core first and advanced second to maximize impact.
  • Core strategies are simple, low-cost, and available to businesses of all sizes and should be fully implemented first.
ADVICE

Maximize Deductions By Recasting Spend

  • Find business purpose for spending you already do and reclassify it as a deductible business expense.
  • Examples include hiring your kids and converting personal spending to pre-tax business expenses.
ADVICE

Use Advanced Strategies To Lower AGI

  • If income remains high after core strategies, explore advanced moves like asset purchases, donations, oil & gas, or captive insurance.
  • These can materially lower AGI to hit phase-out thresholds and avoid AMT.
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