How to Audit Your 2025 Tax Return and Lower Your Taxes Next Year

Most business owners treat filing their taxes like the finish line. It isn’t. 

What actually lowers your tax bill is what you do before December, and that starts with knowing how to read the return you just filed.

In this episode, Mike walks through a six-step process for reviewing your 2025 tax return the right way. You will learn what numbers actually matter on your 1040, how to tell if the strategies you implemented actually worked, where most business owners leave money on the table without realizing it, and how to build a real tax plan for 2026 before the year gets away from you.

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Chapters

(02:00) Step 1: Review Your Tax Return 

Pull out your return and actually look at it. The four forms that matter most are the 1040, Schedule C, Form 1120-S, and Form 1065. Each one tells a different part of your financial story.

(07:00) Step 2: Did It Work? 

What did you actually pay in federal, state, and self-employment taxes? Did you owe more than you expected? This step is about getting honest with your outcome and figuring out whether the planning you did last year actually moved the needle.

(10:00) Step 3: Audit the Strategies You Implemented 

Walk through each strategy you used and ask whether you did it to its fullest, legitimate extent.

(13:30) Step 4: Find the Missed Moves 

What did you learn too late to use? The December panic is real, and the best time to avoid it next year is right now, while the pain of this year's tax bill is still fresh.

(15:00) Step 5: Compare Expected vs. Actual 

Look at what you projected versus what actually came in, both on income and on estimated tax payments. Understanding your own patterns helps you plan more accurately going forward and avoid overpaying or getting caught short.

(16:00) Step 6: Use Your Return as a Roadmap for 2026 

Map out your income patterns, expense categories, entity structure, and tax bracket for the year ahead. Then build a monthly strategy plan, a quarterly checkpoint, and a year-end execution roadmap so nothing slips through.

Podcast Host:

Mike Jesowshek, CPA – Founder and Host of Small Business Tax Savings Podcast
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🎙 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.