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🏠 Lower Taxes w/ Ryan

1.3k members • $1/year

6 contributions to 🏠 Lower Taxes w/ Ryan
Business mileage -how to calculate it more easily advice needed
My husband thinks many business owners end up counting most of their driving as business miles because they’re often on calls or networking while traveling, and almost any stop can turn into a business conversation. I’m curious how others handle this and what the simplest way is to track business mileage when you own two businesses. Right now I’m trying to record starting and ending miles and trip purpose for every drive in my phone notes, and it’s becoming a lot to manage. Is it acceptable to estimate using beginning and ending mileage for the year and then subtract a reasonable personal portion, or does the IRS really expect detailed records for each trip? Also, if you forget to log miles for a few days, is it okay to combine them into one entry?
Pay for home office deduction expenses w/personal or business account?
If I have a home office, and write off a percentage of the home for a home office deduction, is it better to pay all utilities and expenses through the personal account or the business? At one time, I had a mix of both, and now I have mostly started paying through my personal account and keeping an excel spreadsheet that I fill out each year calculating the annual costs. Is there an easier way to track these home office deductions so it’s not so much research each year to gather all of the numbers?
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property management resources
are there any good resources on how to properly manage a short term rental? I only have a LT property with a PM, so I am sure there's quite the learning curve here.
1 like • Jan 23
I really value the information from Build Short Term Rental Wealth’s podcasts and facebook community as well as the Global Hospitality Collective’s unique insight on elevating the guest experience and leveling up on hospitality.
Inheriting Land-How to save on taxes
We’re likely going to inherit a partial interest in a piece of land in the next few months. It’s currently shared on the deed with a relative, and we’ll stay co-owners for now. I want to make sure this doesn’t turn into a financial headache. The relative has paid the property taxes for years and previously allowed logging, which only brought in about $10k and covered a few years of taxes—not a great return. The land is currently assessed pretty low because there’s no official road access. I’d need to look into getting an easement, but I don’t know how that might affect the assessed value or trigger a reassessment. I’ve never owned raw land before, so I’m not even sure what questions I should be asking. Are there smart tax strategies, cost-saving moves, or common mistakes I should be aware of? Long term, I’d love to develop it once we can buy out the relative, but for now I just want to manage it wisely. Any insights from those with experience would be really appreciated.
📣 Friday Community Call Lineup with Ryan Bakke, CPA
Every Friday, you get exclusive access to live sessions designed to help you save on taxes, build wealth, and get real-time answers to your questions — all led by me. 🗓️ Here’s what’s happening every Friday (CST time): 9:00 AM – Tax Strategy 365 Members Only (VIP) 🔍 Deal Analysis + Live Q&A Bring your deals and your questions — we’ll break down the numbers and dive into strategy. 10:00 AM – Level 3 Community Members Only☕ Coffee Chat with RyanA more intimate conversation to go deeper into mindset, life, and long-term planning. 12:00 PM – Tax Strategy 365 Members Only (VIP)💼 Tax Strategy Q&A Rapid-fire Q&A to get your tax and investing questions answered live. 3:00 PM – Tax Return Clients(Premium) + Tax Strategy 365 Members (VIP) 📊 Tax Prep Support + Market Update We’ll help you with questions on your return, light strategy, and give updates on what’s happening in the market. ✅ Set your calendar.✅ Bring your questions.✅ Show up and level up. Let’s get to work.— Ryan
3 likes • Jan 16
I hopped on the call at the wrong time since I am EST...sorry about that. I did wonder about whether or not I should close down my LLC I started for cohosting if I have not yet started cohosting and might not do so this year or leave it open? I also need to get going on layered asset protection strategy for my one property in GA. Do you have a recommend on who can help me set up what's needed at a reasonable cost? Perhaps the extra LLC might come in handy for that, but not sure about it yet.
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Karen Faulkner
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11points to level up
@karen-faulkner-5950
Roswell, GA landscape designer, STR owner & Hospitable Host author who loves creating beautiful outdoor spaces and connecting with inspiring people.

Active 6m ago
Joined Dec 1, 2025
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