Learn more about the sexy side of tax planning and how to bulletproof your taxes so you keep smiling year-round. Mike Jesowshek, CPA is the founder of JETRO and Associates a Digital Milwaukee Accounting Firm. Mike shares his tips on how to modernize your accounting practices so you can be more successful and find ways to maximize your tax deductions.
The biggest mistake we see small business owners make when it comes to taxes and accounting is failing to plan. Most people look at taxes as something you do in April. However, to truly save yourself on taxes you need to look at your activities throughout the year and create a plan to minimize your after-tax dollars where possible. If you only do taxes during tax season you are likely paying more taxes than you should.
You don’t have to be scared of an audit, keeping good records is the key to quickly resolving most IRS questions. Many of the clients we see that have received an audit inquiry from the IRS just need to provide the supporting information requested and the issue is resolved. We like to help our clients create bulletproof tax plans by following a simple record-keeping process. One trick to keep your files organized is to take a picture of receipts and put them into folders on your computer. You can organize them by a vendor, date, or whatever makes sense for your business. The key is that it is digital and organized in a way that you can find those receipts easily.
When it comes to tax planning the primary concept you want to think about is how do I turn after-tax dollars into pre-tax dollars. Look at the ways you are spending after-tax dollars today and see if there are ways to turn any of those expenses into legitimate business deductions.
We also help with retirement planning which generally fits into two buckets either retirement planning for the business owner or retirement savings for employees. There are a lot of options out there such as a solo 401k, SEP IRA, traditional 401k, safe harbor 401k, and many more. The main two questions you want to ask yourself are what is the goal of your retirement program and how much can you afford to save. Also, retirement accounts are a great way to get a tax deduction for you as a business owner.
The key to being successful at bookkeeping is to do it and do it regularly. There are two primary reasons we do bookkeeping, the first is to prepare and file tax returns but the second reason is to use the information to help us become more successful. You can look at trends going on in your business and create strategies to maximize cash flow or capitalize on opportunities.
Resources Shared:
Mike Jesowshek:
The biggest mistake that we always see is failing to plan. Most people look at taxes or think of taxes as something that you do in March and April. What can we do throughout the year to make sure that we're paying the least amount in taxes as legally possible? Because the fact is that, if we're only doing taxes during tax season, there's a lot of strategies that we're missing out on because we did not implement them throughout the year. That's the important piece of taxes. Filing returns is great and important, but that's just sending information. Doing that planning and putting these strategies into play to minimize that tax liability is really what's sexy about taxes.
Speaker 2:
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Gordon Henry:
Hello, I'm Gordon Henry, and this is Winning on Main Street. This week we have a terrific guest who can help you run your business better and specifically give you a new age approach to accounting, tax savings, and growing your business. His name is Mike Jesowshek. Am I saying that right, Mike?
Mike Jesowshek:
Yeah. It's a really good attempt.
Gordon Henry:
Jesowshek. Okay. Mike is a certified public accountant, an entrepreneur, a husband, a sports enthusiast, loves golf when he has free time. And his sports teams are the Vikings, the Brewers, the Bucks, and the Badgers. And so, I've got to say, you live in greater Milwaukee. Why the Vikings and not the Packers?
Mike Jesowshek:
It's something that my family continues to ask me. I used to be a Packers fan when I was a young age and the Packers were incredible and winning Super Bowls and everything else. To kind of get back at my dad, I rooted for the Vikings.
Gordon Henry:
Okay.
Mike Jesowshek:
And it stuck with me ever since. I've always said that's one big regret that I have in life is becoming a Vikings fan, but I'm the kind of person, once I make a decision, I go with it. So, there's no going back now.
Gordon Henry:
All right. Sounds good. Well, that was a tough loss for the Packers, but there are a hell of a team.
Mike Jesowshek:
Yeah.
Gordon Henry:
Yeah. I'm sure, growing up in greater Milwaukee, you hear a lot about Aaron Rogers.
Mike Jesowshek:
I'm the one Viking fan in the entire state of Wisconsin, I think.
Gordon Henry:
Exactly. Unique. So, you can find Mike on his own podcast. It's called the Small Business Tax Savings podcast. And he has a book, Seven Biggest Tax Loopholes Business Owners Miss. And you can find him on his website, which is www.jetrotax, that's J-E-T-R-O tax.com, where you can sign up for his tips, schedule a chat with him. You can also find out about his Facebook groups for small business tax secrets and law firms. So, Mike is a very busy guy and has a lot of great insights to share. So, welcome, Mike.
Mike Jesowshek:
Yeah. Appreciate it, Gordon.
Gordon Henry:
Okay. We're excited to have you. So, let's dive right into it. So, you're an entrepreneur and you help entrepreneurs and small businesses. In your marketing, you say you've been in the shoes of small business owners, and your goal is to help them in the one area that most business owners not familiar with accounting and taxes. So, what are the biggest mistakes that small business owners make with their taxes?
Mike Jesowshek:
Gordon, the biggest mistake that we always see is failing to plan. Most people look at taxes or think of taxes as something that you do in March and April. So, see your accountant once a year, bring all your documents to him, submit the taxes, and then see him again next year. And, while that's definitely important, we kind of look at tax prep as just taking information and sending it to the government agencies. And what we really think that business owners need to focus on is tax planning. What can we do throughout the year to make sure that we're paying the least amount in taxes as legally possible? Because the fact is that, if we're only doing taxes during tax season, there's a lot of strategies that we're missing out on because we did not implement them throughout the year.
Mike Jesowshek:
And so, the biggest thing, when we see people come to our door and listen to our podcast, it's we're trying to drill into this idea of tax planning. That's the important piece of taxes. Filing returns is great and important, but that's just sending the information. Doing that planning and putting these strategies into play to minimize that tax liability is really what's sexy about taxes.
Gordon Henry:
That's great advice. So, we'll get into what some of those strategies are. You talk about bulletproofing yourself against an audit. I guess that's something that people worry about, particularly small businesses. Can you give us some ideas on what might be a technique to bulletproof yourself against an audit?
Mike Jesowshek:
Yeah. I think the biggest thing is one, don't be scared of an audit. If you're doing things the right way, If you have good records, you're keeping track of everything that you're doing, and you're just playing above the line don't be scared of an audit. Because really, if you're doing things in the right way, the audit will disappear immediately. So, most clients that we see that are facing an audit, it's simply a letter that comes in the mail saying, "Hey, we saw some information that doesn't seem to imagine up with your return. Can you provide some documentation for this?" We go into their file. It's already there. Send it off. IRS is done, and we're good to go.
Mike Jesowshek:
So, when we're talking about bulletproofing yourself against an audit, it's really making sure that you're doing those things correctly. So, making sure that you're doing bookkeeping and the bookkeeping is accurate, that you can use that to help support that audit. Making sure that you're saving receipts. I always say, "Be overcautious." Put a bunch of documents into files, save them, do everything digitally, take a picture of all the receipts that you have. There's a 98% chance you'll never need to use them, never have an audit come up. But, in that one chance that it does, you're already organized.
Mike Jesowshek:
So, I always say that. "Keep receipts. If you have a business automobile, keep a mileage log. Try to document as much as you can on the forefront." Because oftentimes, when the IRS comes knocking, it's really tough to try to gather all that information from potentially two, three years ago. You might have forgotten what you had. You might lose deductions simply because you didn't keep your records properly. So, biggest thing is just keep it neat, making sure things are accurate, making sure that you have that documentation ahead of time so that, if that ever happens you can sleep at night knowing, "Hey, I've got everything ready to go."
Gordon Henry:
Mm-hmm (affirmative). Yeah. And what is the statute of limitations on old receipts? Is it seven years? You hear different things.
Mike Jesowshek:
Yeah. Seven years is typically a statute of limitations. If you're doing something that's like blatantly fraudulent or something like that, of course, they can go back as far as they want. But, yeah. Seven years is a general rule of thumb on how long you need to keep stuff. But again, I always tell people, we're in a digital era. Instead of having files all over the place or receipts kind of scattered in every corner of the office, just take a picture of it. You can organize it by client. You could organize it by vendor or even date. A lot of clients will say, "Okay. January, 2021. January, 2020, and that's where I'm putting all the receipts for that month in there." Somewhere where it's just easy to find if you need access to it.
Gordon Henry:
That's great advice. So, you wrote a book, we mentioned it before, called The Seven Biggest Tax Loopholes Lawyers Miss. What are a few of the keys to cutting taxes for a small business? Or if you want to put it that way, what are the biggest tax loopholes?
Mike Jesowshek:
Yeah. So, I think, when I talk about tax planning, and this is just talking about what is tax planning? What does tax planning mean? The biggest thing we want to think about is how do I turn after tax dollars into pretax dollars? And, when we're talking about after tax and pre-tax, I typically like to give an example of a W2 employee versus a business owner. So, you have a W2 employee. You just work for somebody else. You get your gross wages. You get all these taxes taken out. And then, whatever's left over you have to go spend on everything you have. All that money is after tax it all. It's already been taxed. When we look at a business owner, we have this unique advantage where we have business sales or revenue, and we have all these expenses that we jam pack in there, which comes to a profit, which is what we pay our taxes on.
Mike Jesowshek:
So, this is where I tell clients to get creative. Try to strategize. Think about how can I turn... what do I spend my money on normally? What are after tax items that I'm spending my money on? How can I turn that into a business expense, get it deducted prior to those funds being taxed? And so, that's usually my biggest tip. When I've said, "What does tax planning even mean?" That is one area that we start. How do we turn after tax dollars into pre-tax dollars? How can we find a business purpose to the spending that we're going to do regardless?
Mike Jesowshek:
And so, I talk a lot about when COVID hit, if you're a W2 employee, you might have been working in an office, now you're working from home. And you go out and buy a desk. You're using your internet. You're using your electricity and heat and everything else. And you're able to deduct none of that. That's just kind of part of working from home and part of the COVID relief. Now, your employer might reimburse you for some of that or not, but you don't get any personal deduction for that. That desk that you bought is all after tax. That electricity and internet is all after tax dollars that you're using.
Mike Jesowshek:
But, as a business owner, now we have a home office. We're able to take a home office deduction. We have an internet. We're able to take a portion of that. We're now driving to clients from our house. So, our house is our office. Anytime we leave our office, our house, we're getting mileage deductions. And so, that's all things that you're going to spend anyways. You're going to have that electricity bill. You're going to have that internet bill. All this spending you're going to do anyways, but now we can take it pre-tax, so prior to those items being taxed. And so, that is the key, when we look at tax planning, is how do we turn those after tax dollars into pre tax, and just getting creative. Thinking, "How can I tie everyday activity into a business expense?"
Gordon Henry:
Yep. Yep. Makes a lot of sense. I assume automobiles is another one. Right? Some of the time you use in the car, if you're visiting clients or promoting your business, that kind of thing.
Mike Jesowshek:
Yeah. Exactly. And that's a key one that people don't think about. So, traditionally, if you're going from your home to an office or from your home to a client, that's technically considered a commute. That's not a deductible business expense.
Gordon Henry:
Mm-hmm (affirmative).
Mike Jesowshek:
But, if you are now taking a home office, your commute turns from your bed to your home office. And now, anytime you go from one office to another office or one office to a client, those are deductible miles. So, I even tell clients that, even if you do have an office, try to find a home office that you can do your administrative work at. And now, anytime you go from your home office to another office, you have a deductible business trip that you might not have had before.
Mike Jesowshek:
So, yeah. Automobiles come into play a lot. I know a lot with COVID auto expenses kind of went down because it wasn't as many people driving around and things like that. But that is definitely a key on where you can pair different strategies together. So, in that discussion, we're not only taking advantage of the home office deduction, but we're also comboing it with a potentially bigger deduction that we're going to get from the automobile. Now, every time we leave our house, we're getting an expense for that.
Gordon Henry:
Got it. So, what are some of the tips you offer about retirement planning? You talked that's one of your big topics, I think, is retirement planning. I know small business owners think a lot about how should I manage my business so that I could retire someday? What are some of the tips you give people?
Mike Jesowshek:
Yeah. So, it really comes down to, when we talk about retirement planning, we're looking at two different ideas. Are we looking to take care of yourself as the owner? And that's our main goal with the retirement plan. Or are we looking to create a retirement plan to keep, get, and retain high talent, so your employees. Sometimes it's a combination of both, but it really depends on what your goal is with the retirement plan. There's a lot of options out there. You can do a solo 401k, a SEP IRA, traditional 401k, Safe-Harbor 401k. There's a lot of retirement options, but the key really comes down to, what is your goal with the retirement as well as how much money do you have to put away?
Mike Jesowshek:
If you're saying, "I want to put away $5,000 towards retirement, we're going to say, just do a traditional IRA. No sense in putting together a retirement plan and everything else. But, if your goal is to say, "I want to put some money away, a higher dollar amount. I want to take care of my employees. I want to make sure that they're putting money away, and I want to retain talent through retirement." Then we're looking at something a little more advance. So, when we look at what retirement option makes sense, we're trying to answer those questions. And then, a lot of times it's, "Do I have employees or don't I have employees?" If you have no employees, it's you and a spouse or maybe family members, we're going to lean towards something like a SEP IRA or solo 401k. This is a great opportunity, again, to get a business deduction by putting money into a retirement account for you as the owner.
Mike Jesowshek:
I think retirement is key. A lot of business owners don't think about it. They think, "I'm running my business. I want to retain this cash. And the goal is that my retirement is going to be my business." And, while that's probably true and know many business sell down the road and that's how you get into retirement, I also think it doesn't hurt to also combo that with the plan. And, if you're like, "Well, I don't want to, we max out plans or anything like that." That's fine. There's definitely solutions available that you don't have to max out. But having a little nest egg as a retirement plan that you're getting business deductions for, you're getting tax benefits for today, comboed with a potential business sale at the time of retirement can really kind of create that clear picture when you come to retirement time.
Mike Jesowshek:
And I think, as a business owner, and I go through this myself, the key thing is you're always worrying. This thing could just collapse and go away tomorrow. That's not true, but it's something, as a business owner, that we're always thinking about.
Gordon Henry:
Sure.
Mike Jesowshek:
And so, I think, when you start to have this financial freedom, this retirement plan, a potential business sale, maybe some investments over here, you start to have this financial freedom, which kind of clears that worry of, what happens if all this fails. Well, now you have something to back up on. And so, I think it's key to kind of work that into your plan plan, not just for down the road when you're going to potentially need those funds. But I also think that it really helps you grow in your business because you can take your mind off of some of those negative thoughts that might come up about financials and be able to just grow your business a lot easier. I think that's why you always hear that theory saying, "Once you hit your first million, the next five, six, ten million, whatever it is comes so much quicker.
Gordon Henry:
Yeah.
Mike Jesowshek:
It's that security thing, I believe. Because now you're like, "Hey, I don't have to worry about it. I feel good. I feel like I'm in a good place." They can grow so much quicker because they erase those fears, that financial fear that might have been in them when they were trying to grow their business to that initial whatever dollar amount it is.
Gordon Henry:
Yeah. And on that topic of thinking about the future and thinking about retirement planning, there's always the issue of a small business of, "Do I sell the business someday or do I pass it on to my kids?" What are the things you talk to people about in that area, in terms of the exit plan?
Mike Jesowshek:
When we're talking with someone maybe doing a succession plan, the first question is, "Do your kids want this?" A lot of people, their kids are like, "I want nothing to do. I saw my dad's life when I grew up and I don't want that life." Or, "I saw my mom's life, and I really loved what that life brought. Like she had freedom in your work." The first kind of job is finding out, what do our kids want? Do they kind of want to get into this business?
Mike Jesowshek:
But I think, even drilling deeper, so instead of thinking about exit, we're talking about kids. And what are some things that we can do with kids while they're growing up to kind of introduce them to this business idea? What is it like to work for a living at a young age? It's one of our favorite strategies that we like to utilize and it's hiring your kids within your business. And so, it's finding a job for them in their business. And this goes back to that using after tax dollars and turning them into pretax dollars. If I'm going to pay for little Johnny's basketball camps and take him to different amusement parks and things like that, how can I get a business deduction for that? And that might seem silly. You're like, "Why would a basketball camp be a business deduction?" And it's just kind of changing that mindset. The basketball camp is not the business deduction. But little Johnny is going to shred papers for me, he's going to stuff envelopes that we're sending out in the mail, and I'm going to pay him a thousand dollars a month for the work that he's doing.
Gordon Henry:
Mm-hmm (affirmative).
Mike Jesowshek:
So, there's a couple of things that that does. Depending on the way your business is set up, that could be a business deduction and little Johnny might pay no taxes on that.
Gordon Henry:
Mm-hmm (affirmative).
Mike Jesowshek:
With the new tax law, the first $12,000 that anybody makes is tax-free. So, if we could pay our kids up to $12,000 or more per year, we get a business deduction for that, and our kids pay no taxes on that. So, talk about a great way to one, show our kids what it's like to work and earn money. Two, this is spending we're going to do anyways. We're paying for that basketball camp or whatever it might be. Now, we're getting a business deduction for it. And they're paying no taxes on it. It definitely brings in a role of how we do that.
Mike Jesowshek:
And, when we look back at that exit plan, if we're a doctor's office and we're hiring our kids in our business to clean up the doctor's office, something like that, at a young age, they're getting a really good feel of the insides of that business, whether you realize it or not. They might not even be paying, but ultimately they're understanding how this business is operating. They're seeing how it's operating on the backend. And that might be a clear indication like, "Yeah, I want to go be a dentist." Or, "No. I want nothing to do with that. So, that can, I think, really help create that business mindset at a young age, but also give a clear indication on, are they interested in this or not?
Gordon Henry:
Yeah. Yeah. Absolutely. My dad was a doctor, and I spent some time working in his office when I was just a young kid. I don't think he paid me, actually. But I remember it well. And then, I remember working for one of his friends where I did get paid when I was a teenager. It leaves a really indelible impression on you in terms of how businesses work that I think helps you kind of start thinking about what you might want to do when you grow up. So, we're going to take a quick break to hear a word from our sponsor, and we'll be right back with more from Mike Jesowshek.
Barry Moltz:
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Gordon Henry:
So, Mike, one of the things you talk about in terms of keys to running a small business and being tax efficient is bookkeeping systems. It seems like a pretty simple idea. Everybody needs a bookkeeping system. But maybe it's not as simple as I think. What are the kinds of things you tell people about developing a bookkeeping system?
Mike Jesowshek:
Yeah. So, when we're talking about bookkeeping, the first thing I always say is do it and do it on a regular basis. Bookkeeping is so key in a business. And there's a couple of different reasons that we do bookkeeping. One is to prepare and file tax returns. So, so many people come to us with a bookkeeping file that they completed, started working on January 1st, completed on January 31st, and sent it over to us on February 1st.
Gordon Henry:
Mm-hmm (affirmative).
Mike Jesowshek:
That's totally fine. We fulfilled one purpose of bookkeeping, which is to prepare and file taxes. But what they missed out on could be so much more valuable than just a compliance piece, just a tax filing piece. And that is, when we look at bookkeeping, using that data, using the actual activity of our business to help us not only see how we did in previous quarters, but also then take prior data information and utilize it to help that growth in our business in the future.
Mike Jesowshek:
So, bookkeeping, a lot of times a lot of people say, "Well, bookkeeping is just looking at the back. I want to look forward." But a lot of times, if you want to look forward, you first have to look backwards and see what are some trends that we see. We put a marketing plan in place in March. How is that showing in April, May, and June? Could we do it again? Do we want to do it again? Or was it a bust and it didn't work out? So, the first thing I always say is do bookkeeping. Do it on a cloud-based system. Get it online. Don't do it in Excel or anything like that. Put it into an online system, a cloud-based software, there's plenty of them out there, that it's easy for you to access. If you need to bring an advisor on, they can get access to it, and you can access it anywhere possible.
Mike Jesowshek:
So, I would say, one, do the bookkeeping on a regular basis. Typically, I say monthly at the very minimum. So, going in there, take three hours out of your day, whatever, depending on business size, plan out this time in your calendar to get that bookkeeping completed. Once it's completed, make sure it's on a cloud-based system. And then, utilize that data. So, don't just complete bookkeeping to say, "Yep, I got my bookkeeping completed." Now, let's look at how we did in previous periods. What does our profit look like? Let's dig into our expenses and get kind of a little bit more detail of our actual expenses. And, once we have a lot of that data, we can use it for forecasting and projections.
Mike Jesowshek:
So, now that we've known how we did last January, maybe we can look at, for a seasonal type business, we can see what are we going to do this January? What can we expect our trend in sales? They might go up in this month and down in the summer, whatever it might be. We can put expectations on that within our business and use that for projections and use that for forecasting, which can really help cashflow. If we know every June our numbers dip for two months and then come back up, well, we can do some cash planning around that to say, "Let's push some of those cash expenses out until after that dip." And so, I think bookkeeping is key in two different areas, not just for compliance and tax prep, but it's also for seeing how you performed and then using that information for future and projections.
Gordon Henry:
Our listeners are interested in technology. So, just curious, you mentioned cloud-based software. QuickBooks is what you always hear. Is QuickBooks something you recommend? Or are there other names out there that you talk about? I'd be curious about that.
Mike Jesowshek:
Yeah. So, there's two main softwares that we work with and see clients on. And it's Xero, it's X-E-R-O, and QuickBooks online.
Gordon Henry:
Mm-hmm (affirmative).
Mike Jesowshek:
Both are cloud-based systems. And our firm, we're big Xero users. We were early adapters to Xero and just really think that their user interface is great. But, when we look at QuickBooks and Xero, I always kind of compare it to Apple and Android.
Gordon Henry:
Mm-hmm (affirmative).
Mike Jesowshek:
Both are great products. Both are made for exactly the same person. It's just you have people that have a strong preference to one or the other.
Gordon Henry:
Mm-hmm (affirmative).
Mike Jesowshek:
So, same thing with Xero and QuickBooks online. Both are great products. Both have the same type output. Both made for the same user. But it just depends on kind of how you like to get to that end point, and that's where the systems are going to change slightly differently, that user interface and that usability of it.
Gordon Henry:
Right. Right. And I'm sure you're happy when you have somebody come to you as a potential customer and they're on one of those systems. Because, when they come with you to you with a shoe box full of paper, it's not a good thing. Right?
Mike Jesowshek:
Yeah. The shoe box are tough. Typically, the shoe box... we'll refer to it down the road a little bit because those are tough. And that's funny that you mentioned that because there are some people that they don't want to go in the cloud, and that's totally fine because there's other accounts out there that also probably don't want to be in the cloud either. And there's a perfect match for them. But I think that, if you're looking to grow your business and really kind of looking to excel, the accounting software out there right now makes it very easy to access all your transactions downloaded into the software. You just have to code them. It just makes the whole process a lot easier. People that come with a shoe box, there's probably a lot of expenses that they're missing out on simply because it's kind of a disaster. We're trying to just clean that up and get a tax return done, than we are looking for where can we dig some expenses out that might've been missed in their?
Gordon Henry:
Yeah. For sure. We only have a few minutes left, but I want to talk about you a little bit. You're a really busy guy, very accomplished. You've got a website. You've got a fantastic business going, podcasts, things like that. When you're not working, you mentioned you play a little bit of golf. Is that your main pastime? What do you do in your free time?
Mike Jesowshek:
Yeah. Golf is definitely where I go for some peace and enjoyment. But I would say, typically, when I golf, the peace thing doesn't really come along with it. That's the intentions of it, but it doesn't come out that way.
Gordon Henry:
Right. I know they have some beautiful golf courses up in Wisconsin. At least during the summertime, I know it's a beautiful area to play.
Mike Jesowshek:
Yeah. I'm surprised at the amount of money that they put into golf in this state. Like we have some of the top courses in the country.
Gordon Henry:
Mm-hmm (affirmative).
Mike Jesowshek:
And they're only usable nine months out of the year at a maximum.
Gordon Henry:
Yeah. Yeah.
Mike Jesowshek:
And so, it's kind of crazy.
Gordon Henry:
Yeah. That's great. I'm always curious about successful people, such as yourself, kind of how you get that way. Because everybody wants to succeed, but it's not always clear, the path. Do you have certain habits you practice, a certain time of day you do certain things that sort of gives you a successful lifestyle? Just general advice for people about how to manage their time, manage the way they do things.
Mike Jesowshek:
Yeah. And I think this one is tough because, as a business owner, you have so much going on. You wear so many different hats, especially if you're a small business or just getting started, wherever you might be in that journey. You have so much stuff coming at you at all sorts of different angles. And so, really it's just having that ability to be able to clear your mind. How can you clear your mind, even if it's for a ten minute break, whatever it might be.
Mike Jesowshek:
One thing that I always... and this is kind of an odd habit I would say, but it's something that I do to help keep me in shape too, as I'm always sitting at a desk. I have an office job, so I'm not moving around too much. But I made a note that every time that I go to the bathroom, and I drink a lot of water during the day, that I'm going to do an exercise.
Gordon Henry:
Mm-hmm (affirmative).
Mike Jesowshek:
So, that could be go down and do 25 pushups, or do 50 sit-ups, whatever it might be. But, every time, and there is an indicator there, got to go to the bathroom, I'm going to do my workout.
Gordon Henry:
Mm-hmm (affirmative).
Mike Jesowshek:
And so, it's kind of one of those things that, one, it does something in your mind that just kind of clears out everything else, because now you're worrying about my arms hurt, and I'm sore, and sore from yesterday, or whatever it might be. And it just kind of helps clear that mind for a fresh restart when you come back. And that break could be a couple of minutes and that's it. But it's a nice opportunity for that. So, that's just my biggest thing, is one, taking time for yourself. As a business owner, you don't do enough of that. I don't do enough of that. And I know how damaging that can be to not just take some time out for yourself.
Gordon Henry:
Yeah. Great advice. Well, Mike, we're just about out of time. I did want to remind people that they can find you online. It's www.Jetrotax, J-E-T-R-O tax.com where they can get your tips, sign up for your Facebook group, schedule a chat, all sorts of things. So, I encourage people to do that.
Mike Jesowshek:
Awesome.
Gordon Henry:
Yeah. So, thanks for joining us today. You've been a fantastic guest, and really think this will help a lot of small business owners do a better job with their tax, something everybody has to worry about a little bit.
Mike Jesowshek:
I appreciate it, Gordon. Thanks for having me on. And it's been a pleasure.
Gordon Henry:
Yeah. Same here. And, if you've enjoyed this podcast, please subscribe and tell a friend or colleague to subscribe, leave us a five star review. We really appreciate that. Until next time, this has been Gordon Henry, Winning on Main Street. Make it a great week.