Mike Jesowshek CPA

Founder of TaxElm | Podcast Host | Author | Helping Small Businesses Minimize Taxes and Maximize Wealth

[Mike Jesowshek CPA @MJesowshek]

💬 Can spouses combine their HSA accounts?

No: But they can coordinate contributions to max out family limits.

✅ You can also form a partnership where each HSA owns a share and self-direct together

[Mike Jesowshek CPA @MJesowshek]

💬 I'm moving my S-Corp to a no-tax state. What do I need to do?

🚨 If employees, an office, or any operations are still in the old state, that state isn't letting go

Hire an atorney and close everything out

[Mike Jesowshek CPA @MJesowshek]

“I started an LLC but have $0 in income. Do I still need to file?”

Yes. Those startup costs only have value if they're on the record 🚨

[Mike Jesowshek CPA @MJesowshek]

💬 I forgot to file 1099s for my contractors. What do I do?

Filing them late is better than never.

Also, check how you paid them. Credit card and some third-party payments may not require one at all 💸

[Mike Jesowshek CPA @MJesowshek]

💬 Can I use the Augusta Rule for a team meeting at my house?
Yes:
Document the business purpose
Set a comparable rate

The strategy is simple. The paperwork is what protects it.

[Mike Jesowshek CPA @MJesowshek]

Before you book your next trip ask one question📋

Is there a conference, client, vendor, or event in that city tied to your business?

If yes you might have just turned a personal trip into a deductible one.

[Mike Jesowshek CPA @MJesowshek]

A business day means 4 hours and 1 minute of business activity ✅

Hit that in the morning and the afternoon is yours. Museums, beaches, restaurants.

The IRS doesn't care what you do after the threshold.

[Mike Jesowshek CPA @MJesowshek]

Tax Tip Thursday: Entertainment deductions are dead after the Tax Cuts and Jobs Act 🚨

Sports tickets, concerts, theater. All 0% deductible even if your client was sitting right next to you.

But the food and drinks at that event? Still deductible.

[Mike Jesowshek CPA @MJesowshek]

Company parties and picnics where the majority of attendees are employees? 💸

The food is 100% deductible. The entertainment is 100% deductible.

Most businesses miss this one completely.

[Mike Jesowshek CPA @MJesowshek]

TAX TIP: Eating alone on a business trip is still a deduction 👀

Solo travel meals are 50% deductible and most business owners have no idea.

[Mike Jesowshek CPA @MJesowshek]

Most business meals in 2026 are 50% deductible 💸

The food, the drinks, the tip. As long as there was a real business discussion.

A $100 client dinner is a $50 deduction. Start tracking.

[Mike Jesowshek CPA @MJesowshek]

Clean books give you three things every business owner needs:

Clarity on profit 📊
Control over decisions ✅
Confidence at tax time 💰

That’s why bookkeeping is a tax strategy.

[Mike Jesowshek CPA @MJesowshek]

Bookkeeping is boring until it saves you thousands 💰

Then it becomes really exciting 😆

💯 The simple things you avoid all year usually become the expensive things you deal with at tax time.

[Mike Jesowshek CPA @MJesowshek]

Most business owners don’t have a tax problem…

They have a data problem 📊

❌ They don’t know their real profit.
❌ They don’t know what they spent.
❌ They don’t know what they owe.

Then they wonder why tax season is stressful 😬

[Mike Jesowshek CPA @MJesowshek]

Steal this 30-minute bookkeeping hack: ⏱️

✅ Pick one day a week.
✅ Open your bookkeeping software.
✅ Categorize every transaction from the last 7 days.

The longer you wait, the messier your books get.

[Mike Jesowshek CPA @MJesowshek]

A business owner thought they made $250K… they actually made $400K 👀

That’s good right? Well…. Not really.

You can’t build a tax strategy on guessing. Messy books will make you miss out on THOUSANDS of tax savings ⛔

[Mike Jesowshek CPA @MJesowshek]

Messy books are EXPENSIVE 💸

Every tax decision you make depends on the numbers being right.

Wrong numbers
Wrong plan
Higher tax bill ⬆️

[Mike Jesowshek CPA @MJesowshek]

The businesses that win don't have fewer obligations

They just know where they are before the state does 👀

[Mike Jesowshek CPA @MJesowshek]

Every time you hire in a new state or sell past a threshold you create an obligation

The question isn't whether you'll owe. It's whether you'll know before the notice arrives 📋

[Mike Jesowshek CPA @MJesowshek]

Compliance isn't a one-time event.

Most business owners register in a new state and then forget about the quarterly and annual filings that come after.

Setup without maintenance is just delayed noncompliance.