Mastering Tax Strategies for Health Costs: How to Maximize Deductions and Save Big!

What are the pros and cons of having a business-owned vehicle versus a personally-owned vehicle? In this episode of the Small Business Tax Savings Podcast, Mike dives into the often confusing and overwhelming topic of business vehicles. From selecting, buying, and maintaining a car for business use to proving business use of a vehicle to the IRS. Mike offers up his expertise on how to make sure you’re getting the most out of your vehicle when it comes to tax deductions.

Mike covers the pros and cons of having a business-owned versus personally-owned vehicle, as well as tips for determining the business use percentage and tracking mileage.

Tune in now and listen as Mike shares his advice on how to select, buy, maintain, and write off a car for business use!

00:00 - Determining the Health Insurance Deduction Based on Your Business
06:03 - Business Owners With No Employees + High Medical Costs
09:05 - Health Benefit Options Available For Small Businesses With Employees
12:54 - What Is An HSA and How Do They Work?
18:45 - Wrapping Up!

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Podcast Host: Mike Jesowshek, CPA - Founder and Host of Small Business Tax Savings Podcast
Join Our Tax Minimization Program: https://www.taxsavingspodcast.com/tax

IncSight Packages: https://incsight.net/pricing/

Book an Initial Consultation: https://app.simplymeet.me/o/incsight/sale
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Podcast Website: https://www.TaxSavingsPodcast.com
Facebook Group: https://www.facebook.com/groups/taxsavings/
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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