Don't miss out on this episode! Join us as we dive into the exciting world of Airbnb interior design and investment. We've got so much to share about our lives, the chaos, and the thrill that surrounds us everyday.In this captivating episode, Ryan Bakke, a CPA and seasoned real estate investor, takes listeners on a journey to discover the secrets of building wealth through strategic tax planning. With his expertise in economic behavior, Ryan delves into various topics such as insurance costs, understanding your market, and the importance of meticulous calculation of business expenses, including invaluable data and thorough market research.How to vet a good Real Estate CPA: 1. Do you deal with STRs often and in what markets? - they should be able to rattle off different type of markets their clients are invested in. I know I can name every market in the country.2. Are they familiar with the business exception to a rental definition under Section 469?3. Are they familiar with this particular memorandum [https://www.irs.gov/pub/irs-wd/202151005.pdf] [https://www.irs.gov/pub/irs-wd/202151005.pdf?fbclid=IwAR1kUQrkBH-9Oxr8esioSBrIxiz6r-t74RnEYfxLIgQ32FuBblLBwabcfLw] and how the material participation tests apply to STRs4. Have they completed tax returns that have cost segregation studies before?5. Are they away of all the nuances and strategies to save money on taxes other than the ones listed above.He emphasizes the significance of providing value to others, even if it means offering free services without expecting immediate returns. The episode further explores the intricacies of taxes, legal considerations, and the power of personal branding. Ryan unveils the key strategies to becoming the "person of interest" in your industry, empowering listeners with the knowledge and inspiration to take control of their financial future.00:18 - Guest Introduction & Background: Ryan Bakke01:10 - Ryan’s Horror Story04:58 - Questions Around Taxes or STRs09:02 - Access Passive Losses11:41 - Luxury STR Flips12:41 - Opinion on Bonus Appreciation History Swaying Back and Forth16:21 - Market Research17:41 - How to Scale Portfolio as a CPA and Real Estate Investor18:52 - Book: The Genius Zone - No Incremental Cost to You24:38 - Three Steps to Successfully Brand Yourself28:14 - What Should STRs Look For in a CPA32:09 - How Important Is Taking That Recommendation of Who to Use on the Legal Side From Your CPA?35:40 - ClosingConnect with the guestWebsite | LinkedIn | Instagram Submit your own Airbnb Horror Story Hosted by Emily Karnaz & Sarah Glidewell // The KarWells Intro Music: We Are One by Vexento https://soundcloud.com/vexento https://www.youtube.com/user/Vexento Free Download / Stream: http://bit.ly/2PaIKcR Music promoted by Audio Library https://youtu.be/Ssvu2yncgWU You can view the video & audio version on our Youtube Channel Thanks for listening!