The Ryan Bakke Show

Ready to save $10k-$50k in taxes this year? Book a call here:► https://taxstrategy365.com/pod-appIn this episode, I sit down with Megan Sawamura from Neo Home Loans to talk about using homeownership as a powerful wealth-building strategy. Megan shares her journey from buying her first property with just $20,000 to building a million-dollar portfolio. We discuss house hacking, leveraging VA and FHA loans, and how to avoid costly mistakes when refinancing or turning your primary residence into a rental. If you're looking to grow your real estate portfolio while minimizing taxes, this episode is packed with essential insights.Timestamps:00:00:00 Intro00:01:29 Why a 30-year fixed mortgage is a hidden wealth pillar00:02:26 Why you should buy a primary home before an investment property00:05:07 Cash-out refinance: How it works and potential tax implications00:07:46 The "return on hassle" approach to investment decisions00:10:10 The Section 121 Home Sale Exclusion and how to use it00:12:33 Should you sell your primary home or convert it into a rental?00:14:15 How the government uses tax policy to influence real estate investing00:16:39 Inflation-induced debt destruction: How 30-year fixed loans help you win00:19:00 How to leverage VA loans to buy multi-unit properties with 0% down00:22:36 Megan's personal journey: Turning $20K into a million-dollar portfolio00:27:37 House hacking: Renting bedrooms and living below your means to build wealthWant me to answer your questions live? Come to my next Ask Me Anything Q&A:► https://taxstrategy365.com/pod-amaLet's connect!► Instagram: https://www.instagram.com/ryanbakkecpa/► LinkedIn: https://www.linkedin.com/in/learnlikeacpa/► Twitter: https://x.com/RyanBakkeCPA► Facebook: https://www.facebook.com/ryanbakkecpa► TikTok: https://www.tiktok.com/@ryanbakkecpa*None of this is meant to be specific investment advice, it's for entertainment purposes only.

Ready to save $10k-$50k in taxes this year? Book a call here:► https://taxstrategy365.com/pod-appIn this episode, I sit down with Oscar Setiawan to discuss his journey from corporate tech to restaurant owner to real estate investor. Oscar shares his unique approach to money management and project management in real estate, offering invaluable insights for investors at every stage. We also explore how he scaled a 25+ property portfolio, the financial systems he put in place, and how he’s teaching his children to think like investors. This episode is packed with wisdom on risk management, financing strategies, and the power of financial clarity.Timestamps:00:00:00 Intro00:01:29 Oscar’s journey: From tech to restaurant owner to investor00:03:45 How to transition from a W2 job to entrepreneurship00:06:28 The conversation that sparked Oscar’s real estate journey00:09:15 Why money management is more important than property management00:11:57 Lessons from refinancing challenges and market shifts00:16:00 The impact of interest rates and market downturns on real estate portfolios00:20:15 How Oscar scaled to a 25+ property portfolio with a mix of LTRs, STRs, and MTRs00:24:45 The mindset shift required to manage multiple properties00:27:30 How Oscar is building generational wealth and teaching his kids about real estate00:32:10 Identifying and cutting "bad pumpkins" from your portfolioWant me to answer your questions live? Come to my next Ask Me Anything Q&A:► https://taxstrategy365.com/pod-amaLet's connect!► Instagram: https://www.instagram.com/ryanbakkecpa/► LinkedIn: https://www.linkedin.com/in/learnlikeacpa/► Twitter: https://x.com/RyanBakkeCPA► Facebook: https://www.facebook.com/ryanbakkecpa► TikTok: https://www.tiktok.com/@ryanbakkecpa*None of this is meant to be specific investment advice, it's for entertainment purposes only.

Ready to save $10k-$50k in taxes this year? Book a call here:► https://taxstrategy365.com/pod-appIn this episode, I sit down with Bill Faeth to tackle year-end tax strategies every real estate investor needs to know. We explore the importance of proper bookkeeping, navigating material participation rules, and the pros and cons of cost segregation studies. Bill and I also discuss why tax planning is about long-term strategy, not just short-term savings, and share actionable tips to optimize your tax position before the year ends.Timestamps:00:00:00 Intro00:01:29 Why tax planning requires a long-term mindset00:03:35 The three checks for proper bookkeeping00:06:29 Prepaying taxes and IRS interest rate changes00:09:15 The pros and cons of cost segregation studies00:11:57 Tax-smart strategies for vehicle purchases00:14:00 Prepaying expenses to maximize year-end deductions00:16:34 How to pay your kids and fund their Roth IRAs00:19:31 Material participation requirements for STR tax benefits00:24:56 Building a strong audit defense with documentationWant me to answer your questions live? Come to my next Ask Me Anything Q&A:► https://taxstrategy365.com/pod-amaLet's connect!► Instagram: https://www.instagram.com/ryanbakkecpa/► LinkedIn: https://www.linkedin.com/in/learnlikeacpa/► Twitter: https://x.com/RyanBakkeCPA► Facebook: https://www.facebook.com/ryanbakkecpa► TikTok: https://www.tiktok.com/@ryanbakkecpa*None of this is meant to be specific investment advice, it's for entertainment purposes only.

Ready to save $10k-$50k in taxes this year? Book a call here:► https://taxstrategy365.com/pod-appIn this episode, I sit down with Henry Huie to explore the entrepreneurial journey of breaking away from a traditional accounting career to building a thriving firm. We dive into overcoming analysis paralysis, the importance of surrounding yourself with optimistic mentors, and finding the courage to bet on yourself. Whether you're stuck in a corporate role or looking to scale your own practice, this episode is packed with actionable advice and inspiring stories about taking calculated risks, valuing time over money, and unlocking your highest-income skills.Timestamps:00:00:00 Intro00:02:15 Overcoming analysis paralysis00:06:30 Making bold decisions00:10:45 Valuing time over money00:15:20 The highest-income skills in the world00:20:35 Content marketing & finding your niche00:27:10 Shifting from technician to business owner00:35:00 Why accountants should focus on sales00:45:25 The future of consulting and scaling accounting firmsWant me to answer your questions live? Come to my next Ask Me Anything Q&A:► https://taxstrategy365.com/pod-amaLet's connect!► Instagram: https://www.instagram.com/ryanbakkecpa/► LinkedIn: https://www.linkedin.com/in/learnlikeacpa/► Twitter: https://x.com/RyanBakkeCPA► Facebook: https://www.facebook.com/ryanbakkecpa► TikTok: https://www.tiktok.com/@ryanbakkecpa⁠*None of this is meant to be specific investment advice, it's for entertainment purposes only.

Ready to save $10k-$50k in taxes this year? Book a call here:► https://taxstrategy365.com/pod-appIn this episode, I sit down with co-hosting expert Austin Palacios to discuss how to build a scalable, profitable co-hosting business in the short-term rental space. Austin shares actionable strategies for transitioning properties from large property management companies to boutique co-hosting services, as well as tips for setting up systems that simplify your operations.Find Austin online:► Instagram: https://www.instagram.com/austin__palacios/Timestamps:00:00:00 Intro00:01:29 Identifying Opportunities in the Co-Hosting Market00:03:45 Targeting Properties Managed by Large Companies00:05:52 Onboarding New Clients Quickly and Efficiently00:07:56 Focusing on High-Revenue Properties00:10:27 Using CRM Tools to Build and Track Leads00:12:15 Managing Seasonality and Market Diversification00:15:09 Simplifying Processes to Scale Your BusinessWant me to answer your questions live? Come to my next Ask Me Anything Q&A:► https://taxstrategy365.com/pod-amaLet's connect!► Instagram: https://www.instagram.com/ryanbakkecpa/► LinkedIn: https://www.linkedin.com/in/learnlikeacpa/► Twitter: https://x.com/RyanBakkeCPA► Facebook: https://www.facebook.com/ryanbakkecpa► TikTok: https://www.tiktok.com/@ryanbakkecpa*None of this is meant to be specific investment advice, it's for entertainment purposes only.

Ready to save $10k-$50k in taxes this year? Book a call here:► https://taxstrategy365.com/pod-appIn this episode of the LearnLikeaCPA show, I dive into the essential playbook for setting up LLCs as a real estate investor. I break down the pros and cons, common mistakes, and the key steps to structuring LLCs for asset protection and tax efficiency. You'll learn when you actually need an LLC, how to avoid creating unnecessary tax returns, and my guidelines for determining the right amount of equity per property before setting up a separate LLC.Timestamps:00:00:00 Intro00:00:58 Why LLCs Don’t Save You Money on Taxes00:01:43 Guidelines for Determining When to Set Up an LLC00:02:28 Pros of Setting Up an LLC for Asset Protection00:03:14 Common Mistakes with Multi-Member LLCs00:04:53 Avoiding Unnecessary Tax Returns00:05:43 Back-of-the-Napkin Math for Equity in LLCs00:08:08 Steps to Setting Up an LLC Properly00:09:33 Registering LLCs in Out-of-State Investments00:10:33 Outro and Call to Share the PodcastWant me to answer your questions live? Come to my next Ask Me Anything Q&A:► https://taxstrategy365.com/pod-amaLet's connect!► Instagram: https://www.instagram.com/ryanbakkecpa/► LinkedIn: https://www.linkedin.com/in/learnlikeacpa/► Twitter: https://x.com/RyanBakkeCPA► Facebook: https://www.facebook.com/ryanbakkecpa► TikTok: https://www.tiktok.com/@ryanbakkecpa*None of this is meant to be specific investment advice, it's for entertainment purposes only.

Ready to save $10k-$50k in taxes this year? Book a call here:► https://taxstrategy365.com/pod-appIn this episode, I discuss the five critical things to watch out for when switching jobs, whether transitioning between employers or moving from W2 to 1099 status. We explore essential considerations including COBRA insurance coverage, managing your 401(k) rollover options, and strategic tax planning opportunities during employment transitions. I also share valuable insights about Roth conversion opportunities during income changes and the important differences between W2 and 1099 employment benefits.Timestamps:00:00:00 Intro00:01:07 COBRA Insurance and Health Benefits During Job Transitions00:01:55 Managing 401(k) Rollovers and Investment Options00:06:02 Strategic Timing for Roth Conversions00:07:17 Year-End Tax Projections and Social Security Considerations00:09:34 W2 vs 1099: Benefits Analysis and Lending ImplicationsWant me to answer your questions live? Come to my next Ask Me Anything Q&A:► https://taxstrategy365.com/pod-amaLet's connect!► Instagram: https://www.instagram.com/ryanbakkecpa/► LinkedIn: https://www.linkedin.com/in/learnlikeacpa/► Twitter: https://x.com/RyanBakkeCPA► Facebook: https://www.facebook.com/ryanbakkecpa► TikTok: https://www.tiktok.com/@ryanbakkecpa*None of this is meant to be specific investment advice, it's for entertainment purposes only.

Ready to save $10k-$50k in taxes this year? Book a call here:► https://taxstrategy365.com/pod-appIn this episode, I join my friend Avery Carl on The Short Term Show to discuss what it takes to successfully defend an audit on the short-term rental tax loophole. We dive deep into the importance of proper documentation, setting up material participation logs, and understanding how to track and defend expenses. I also share my personal experience of winning an IRS audit with zero changes.Timestamps:00:00:00 Intro00:01:02 What Triggers Audits for Short-Term Rental Investors00:03:45 Setting Up and Maintaining Material Participation Logs00:06:20 Tracking Expenses and Financial Statements00:08:54 Winning an IRS Audit with Zero Changes00:11:32 Navigating the Audit Process00:14:05 The Role of CPAs Who Understand Real Estate00:16:40 Strategies to Minimize Audit Risk00:18:50 Leveraging the Short-Term Rental Loophole EffectivelyWant me to answer your questions live? Come to my next Ask Me Anything Q&A:► https://taxstrategy365.com/pod-amaLet's connect!► Instagram: https://www.instagram.com/ryanbakkecpa/► LinkedIn: https://www.linkedin.com/in/learnlikeacpa/► Twitter: https://x.com/RyanBakkeCPA► Facebook: https://www.facebook.com/ryanbakkecpa► TikTok: https://www.tiktok.com/@ryanbakkecpa*None of this is meant to be specific investment advice, it's for entertainment purposes only.

Ready to save $10k-$50k in taxes this year? Book a call here:► https://taxstrategy365.com/pod-appIn this episode, we're walking through essential state-level tax planning strategies for real estate investors. We cover everything from property tax reassessments to navigating multi-state income tax issues and understanding occupancy taxes. I also break down the right way to structure LLCs when investing across multiple states to ensure legal and tax compliance.Timestamps:00:00:00 Intro00:00:42 Property Tax Reassessments00:03:15 Multi-State Income Tax Rules00:05:48 Managing Occupancy Taxes for Short-Term Rentals00:08:22 Structuring LLCs for Out-of-State Properties00:10:56 Depreciation Strategies to Maximize Tax Benefits00:13:30 Avoiding Common State Tax Pitfalls00:15:45 Staying Updated on State Tax ChangesWant me to answer your questions live? Come to my next Ask Me Anything Q&A:► https://taxstrategy365.com/pod-amaLet's connect!► Instagram: https://www.instagram.com/ryanbakkecpa/► LinkedIn: https://www.linkedin.com/in/learnlikeacpa/► Twitter: https://x.com/RyanBakkeCPA► Facebook: https://www.facebook.com/ryanbakkecpa► TikTok: https://www.tiktok.com/@ryanbakkecpa*None of this is meant to be specific investment advice, it's for entertainment purposes only.

Ready to save $10k-$50k in taxes this year? Book a call here:► https://taxstrategy365.com/pod-appIn this episode, we're diving into Roth conversion planning and talking about essential strategies to help you maximize your tax savings. We’ll break down when and why to consider a Roth conversion, how to take advantage of market dips, and the importance of understanding tax brackets when converting traditional retirement accounts to Roth. I’ll also cover key tactics like chunking conversions and why it’s crucial to avoid withholding taxes during the conversion process.Timestamps:00:00:00 Intro00:01:12 When to Consider a Roth Conversion00:03:45 Tax Brackets and Roth Conversions00:05:28 The Importance of Not Withholding Taxes00:07:10 Chunking Conversions for Maximum Efficiency00:08:55 Using Market Dips to Your Advantage00:10:33 Long-Term Benefits of Tax-Free Growth00:12:05 Common Mistakes in Roth Conversions00:13:40 Strategizing for Future Tax Changes00:15:22 Roth Conversion and Estate PlanningWant me to answer your questions live? Come to my next Ask Me Anything Q&A:► https://taxstrategy365.com/pod-amaLet's connect!► Instagram: https://www.instagram.com/ryanbakkecpa/► LinkedIn: https://www.linkedin.com/in/learnlikeacpa/► Twitter: https://x.com/RyanBakkeCPA► Facebook: https://www.facebook.com/ryanbakkecpa► TikTok: https://www.tiktok.com/@ryanbakkecpa⁠*None of this is meant to be specific investment advice, it's for entertainment purposes only.