On this episode Mike Jesowshek, CPA talks about 1099s and why they are so important to you as a business owner. 1) What Is the One Thing I Need to Make Sure I Know About 1099s? 2) When Do I Need to File a 1099-NEC? 3) What is the Typical 1099-NEC Process? 4) When Does the 1099-NEC Need to Be Filed By? 5) What Are the Penalties for Not Filing a 1099-NEC? 6) W ... Show More
Mar 4
New Charity Tax Rules in 2026. How the One Big Beautiful Bill Changes Your Deductions
Charitable giving rules are changing in 2026, and many business owners have no idea their tax deductions could quietly shrink.The One Big Beautiful Bill Act introduced new limits, floors, and deduction caps that change how charitable donations work depending on your income level ... Show More
21m 3s
Feb 25
Broke Even at the Casino? You Still Owe Taxes in 2026 | Gambling Tax Law Updates
Imagine breaking even at the casino and still owing taxes.Beginning in 2026, Congress approved a new rule that limits gambling loss deductions to 90%. That means if you win $10,000 and lose $10,000, you could still owe taxes on $1,000 of phantom income.Today, we're breaking down ... Show More
17m 52s
Sep 2024
237: Asking For Bookkeeping Help Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, Virtual Assistant, Owner, Or Self-Employed
<p>Most business owners typically do their own bookkeeping when they first start their business, but a question I often receive is when should I be getting help with my bookkeeping. The help that a business owner can get from a bookkeeper, accountant, CPA, or tax preparer can va ... Show More
19 m
Apr 2025
Shop Formation 101: Entity Types, Tax Traps, and Long-Term Strategy, 458
<p>In this episode of the Machine Shop MBA series, we go beyond vision boards and get into the meat and potatoes of launching your shop legally—with the right entity type and structure to support your short and long-term goals. Whether you're looking to stay solo, bring on partne ... Show More
39m 51s
Aug 2025
325: Time Blocking For Better Bookkeeping Habits Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, Accountant Owner Or Self-Employed
<p>Business owners often struggle to find the time to do the bookkeeping for their business. This is a topic that I see come up often with many of the business owners I work with. I understand how much this can cause issues in your business, especially when you know how importa ... Show More
14m 33s
Mar 2025
287: How To Set Up A Loan In QuickBooks Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, Virtual Assistant, Owner, Or Self-Employed
<p>A common question I receive from clients is how they should be recording their loans in QuickBooks. I often see clients set up their loans the wrong way. They will sometimes appear on a report where they shouldn’t be, which can throw off any tax planning the client is trying ... Show More
14m 53s