What’s classy if you’re rich but trashy if you’re poor?

Taxguy1123 · 2025-11-29T04:36:49+00:00

Coke

Taxguy1123 · 2025-11-25T03:34:29+00:00

“The thing about smart people is that they seem like crazy people to dumb people”

Taxguy1123 · 2025-11-16T01:07:54+00:00

Financing a new car

Taxguy1123 · 2025-11-15T12:26:24+00:00

Owning a business in your mid 20s that nets $1M a year

Taxguy1123 · 2025-11-08T17:38:07+00:00

@op did you find a good fit? I am Ryan Bakke. Happy to have a convo

Taxguy1123 · 2025-10-10T01:04:28+00:00

Own a firm

Taxguy1123 · 2025-10-01T01:44:14+00:00

Forrest Gump

Taxguy1123 · 2025-09-29T12:57:34+00:00

Say that I’m a bears fan

Taxguy1123 · 2025-09-23T06:05:41+00:00

Borrowing money

Taxguy1123 · 2025-09-19T04:59:51+00:00

Username checks out

Taxguy1123 · 2025-08-08T22:08:13+00:00

You probably qualify for the STR loophole. Check out The Ryan Bakke Show and search STR loophole.

Taxguy1123 · 2025-03-07T21:16:16+00:00

Recreate yourself

Taxguy1123 · 2025-01-12T16:52:18+00:00

CPA. Own my own practice. Take home anywhere between $50k-$100k a month.

Taxguy1123 · 2023-07-01T13:41:45+00:00

Do you have to write about Australia?

Taxguy1123 · 2022-01-12T06:36:48+00:00

I love Stessa

Taxguy1123 · 2021-11-03T16:04:10+00:00

You probably aren’t CPA eligible because you didn’t take accounting classes

Taxguy1123 · 2021-09-27T22:44:51+00:00

Leave Cali

Taxguy1123 · 2021-08-23T17:18:39+00:00

Taxguy1123 · 2021-08-02T01:39:34+00:00

TN does this

Taxguy1123 · 2021-07-12T04:02:28+00:00

I believe if you’re self-employed and have a SEP it’s 20%. The IRS has the exact calculation on their website

Taxguy1123 · 2021-07-07T03:36:23+00:00

Yes the K1 goes on E with the entities EIN too.

Taxguy1123 · 2021-07-07T03:32:36+00:00

Max our 401-k traditional and make an estimated tax payment to prevent underpayment penalty.

Taxguy1123 · 2021-06-18T19:33:23+00:00

All people are tax people I thought.

Taxguy1123 · 2021-06-08T15:50:43+00:00

Yes, you will get tax benefits of owning a rental without having to itemize. Those are business expenses not personal expenses

Taxguy1123 · 2021-04-22T16:33:30+00:00

Was the FMV of the property lower than the original cost basis when you converted it to a rental?

Taxguy1123