Have you ever wondered if you could hire your older child to watch your younger one and claim it as a business expense? Or are you maximizing the benefits of a Health Savings Account to its fullest potential?

In this Q&A episode of the podcast, host Mike Jesowshek answers a series of listener-submitted questions covering a wide range of topics pertinent to small business owners, such as tax deductions, business expenses, payroll management, and tax strategies. Mike provides detailed insights on various scenarios, such as employing children, maximizing HSA contributions, and the proper way to handle business travel deductions. He also discusses the benefits of using payroll software for S Corporations and outlines strategies for setting reasonable salaries within an S Corporation framework. Additionally, the episode includes practical advice on managing business deductions for vehicle expenses and hiring offshore freelancers.


00:00 - Introduction and Webinar Announcement
00:53 - Hiring Family Members and Maximizing HSA Contributions
04:11 - Business Purchases, Tax Implications, and Renting Personal Equipment to Your Business
09:42 - Using Payroll Software for S Corporations and other Tax Topics
15:31 - Benefits of Payroll Software for S Corps and Correct Payroll Handling
23:09 - Travel Deductions for Business Trips
25:44 - Closing Remarks and Additional Resources


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Podcast Host: Mike Jesowshek, CPA - Founder and Host of Small Business Tax Savings Podcast

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Podcast Website: https://www.TaxSavingsPodcast.com
Facebook Group:   / taxsavings  
YouTube:    / @taxsavings