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Having a board of advisors isn't just for big companies. Even small business owners and solo entrepreneurs can use it to grow smarter and save money on taxes. In this episode, Mike shares how a board helps you deduct meals, travel, and even your home—plus how it keeps you organized and protected.

Chapters:

(00:58) What’s a Board of Advisors?
It’s a group of people who give advice and support for your business—even if you’re running solo.

(02:18) How to Set It Up
Add it to your business documents, pick people you trust, and plan regular meetings.

(04:48) Tax Write-Offs You Can Claim
Board meetings can make meals, travel, and even home use partially or fully deductible.

(05:38) The Augusta Rule Trick
Rent your home to your business for board meetings and pay zero tax on that rental income (if done right).

(08:15) More Benefits Than Just Tax
It helps with accountability, planning, outside feedback, and even audit protection.

(11:12) Keep Records That Count
Document every meeting with notes, receipts, and details to stay safe and get the most tax savings.

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/

Have you ever wondered if you can write off beers with a client? Or claim mileage between your home and office? In this special Q&A episode, Mike answers real questions from small business owners across the country — tackling topics like the Augusta Rule, tax deductions you're probably missing, how to handle multi-state operations, and even the proper way to record equipment purchases in your books.

Chapters:

(01:16) What is the Augusta Rule?
Rent your home to your business for 14 days or less, and pay zero tax on that income — here’s how it works.

(02:29) Can You Deduct Beers with Clients?
Yes, you can — but only if there’s a valid business reason and proper documentation.

(05:17) Home Office Deduction and Mileage Explained
Mike clears up confusion about home offices, commuting, and how an accountable plan changes what you can deduct.

(08:00) Does TaxElm Make Sense for Me?
If you’re a small business owner or a high-income earner with a side hustle, here’s how TaxElm could help.

(10:32) Where to Incorporate if You're in Multiple States
Learn how tax nexus works and why forming your LLC in a random state could backfire.

(12:16) How to Record Equipment Purchased with a Loan
Breaking down how to properly track assets, liabilities, and depreciation in your bookkeeping.

(14:30) What is a Family Office and Do You Need One?
Mike shares how to build a “family office” strategy — even if you’re not ultra-wealthy.

(16:00) Tax Deductions Most Business Owners Miss
From hiring your kids to internet bills, here are deductions you might be overlooking.

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/

If you’ve ever skipped filing a tax return or felt overwhelmed by back taxes, this episode is for you. Mike and Robert Nordlander, former IRS Special Agent, break down the real risks of not filing, the difference between filing and paying, and how to get back on track—without fear.

Chapters:

(00:26) Falling Behind on Taxes Happens
Mike shares a common fear of business owners who haven’t filed in years and feel buried in penalties—but there’s a way out.

(02:30) Not Filing is a Crime
Robert explains that failing to file is a criminal offense, even if you're owed a refund. You could face jail time.

(04:20) Filing Protects You (Even if You Can’t Pay)
Filing and paying are separate. Filing your return stops criminal penalties—even if you don’t have the money yet.

(06:30) Penalties vs. Interest: Why Filing Matters
Not filing triggers a 25% penalty. Filing without paying is just 0.5% monthly. Filing first always puts you in a better position.

(08:57) No Records? There’s Help
If your records are missing or a mess, a CPA or forensic accountant can help you recreate what’s needed to get back on track.

(11:33) IRS Payment Plans + the 10-Year Rule
The IRS offers payment plans and even settles for less in some cases. But you must stay compliant—your debt can go away after 10 years if you do.

(23:58) Why You Don’t Want to Owe the IRS
The IRS is more aggressive than banks. They can seize wages and assets without going to court—and their customer service is notoriously bad.

Guest: Robert Nordlander, CPA – https://www.nordlandercpa.com

Find Robert’s Books:

• Criminal Tax Secrets: What Every Defense Attorney Should Know
• Unpaid Payroll Taxes: A Time Bomb You Can Defuse
• Erase the Penalty: A Tax Professional's Guide to Abatement

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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.

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