How Is My Income Taxed?

How Is My Income Taxed? In this episode of the Small Business Tax Savings Podcast, Mike breaks down the basics of taxation so that listeners can create a roadmap for their own businesses.

Mike explains two main types of tax – ordinary income tax and capital gains tax, as well as self-employment taxes and FICA taxation for W2 employees. He covers the different types of income taxes, such as earned income, passive income, and portfolio or investment income.

Tune in now as Mike uncovers the complexities of taxation and learn how it can help you become informed on ways to pay the least amount of taxes legally possible!

00:25 Understanding How Taxes Work
01:29 The Difference Between Ordinary Income Tax and Capital Gains Tax Rates
12:40 The Benefits Of Passive Income and Investment Income
15:38 Closing Segment

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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
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To find out more on this topic and many others visit our website at www.TaxSavingsPodcast.com. You can also give us a call at 844-327-9272 or send your questions to us at: Ask@TaxSavingsPodcast.com