Small Business Tax Savings Podcast
Business:Entrepreneurship
Send us a Text Message.
Are you worried about filing your tax return on time or paying your tax bill?
In this episode, Mike Jesowshek discusses tax extensions and strategies for paying tax bills, addressing common misconceptions and providing practical advice. He clarifies that filing an extension does not increase audit risk and emphasizes the importance of timely filing and payment. Mike outlines options for those who can and cannot afford their tax bills, including installment agreements and offers in compromise. Throughout the discussion, he stresses the significance of proactive tax planning to avoid financial strain in the future.
[00:00 - 05:21] Understanding Tax Extensions and Their Importance
[00:05:33 - 00:18:12] Strategies for Paying Tax Bills
Direct Quotes:
"Filing an extension is simply an extended time to file your tax return. The taxes are still due on that original due date." - Mike Jesowshek
"Extensions extend time to file, not time to pay." - Mike Jesowshek
Resources Mentioned:
______
Podcast Host: Mike Jesowshek, CPA - Founder and Host of Small Business Tax Savings Podcast
Join TaxElm: https://taxelm.com/
IncSight Packages (Full-Service): https://incsight.net/pricing/
Book an Initial Consultation (IncSight): https://app.simplymeet.me/o/incsight/sale
-------
Podcast Website: https://www.TaxSavingsPodcast.com
Facebook Group: https://www.facebook.com/groups/taxsavings/
YouTube: https://www.youtube.com/@TaxSavings
What Is Bookkeeping and Why Do I Need Bookkeeping For My Business?
Everything You Need To Know About S Corporations - Series Wrap Up
I Have An S Corp, Now What?
What Is A Reasonable Compensation For An S Corporation Owner?
What Are The Requirements For An S Corporation and How Do I Set One Up?
What is an S Corporation and Why Should I Elect To Be One?
What Is An LLC and How Is It Different From An S Corporation?
Pass Through Entity - What is it and what does it mean?
Multiple Owner Business Structure Options and Tax Deadline Reminder
Company Retreats - Connect w/ Your Employees or Clients
Coronavirus (COVID-19) - Paycheck Protection Program (PPP) Forgiveness for Small Businesses
Importance of Tax Planning for Small Business Owners
Big Bank or Small Bank and PPP Program Update
Coronavirus (COVID-19) - PPP Program Update, Free Tool, Funds Still Available
Top 4 Bookkeeping Rules to Follow
Coronavirus (COVID-19) - PPP Loan Certification Clarification, Taxability and Forgiveness Application
Coronavirus (COVID-19) - Tax Deadlines/Extensions and Student Loan Payments by Employer
Free Bookkeeping Training Program & Community Giving
Coronavirus (COVID-19) - PPP Forgiveness Information and Certification
Coronavirus (COVID-19) - Employee Retention Tax Credit
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
Make Me Smart
Tax Chats
WSJ Your Money Briefing
NerdWallet’s Smart Money Podcast
The Indicator from Planet Money