EPISODE 32: Your End of Year Tax Strategy to Maximize Deductions! Interview with Ryan Bakke

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Ryan Bakke is back to share year end tax strategies and what you can do in these last weeks of 2022

1. How can we save money on taxes?!

2. How would someone know if they’re going to be a higher earner next year?

3. If someone is planning on buying a property next year, how would that affect their strategy?

4. What tips do you have for bookkeeping to make their tax strategy easier this year?

5. If I cover the cost of supplies for the properties I manage, can I deduct those purchases even though I’m reimbursed by the owner?

6. A lot of CPAs say, “Your tax strategy doesn’t start February/March, it starts today.” Can you explain what that means?

7. If one partner is a W-2 earner and one partner is 1099 self-employed earner, what are some tax strategies that help with retirement for these kinds of couples?

8. What else is there leading up to the last bit of 2022 to purchase or do to help squeeze in deductions?

9. If someone is interested in buying a property next year, is there a line you would draw at trying to max out your deductions?

10. How can a property I purchased last year still serve me in my tax planning this year?

11. Does depreciation recalculate every year?

12. What are first steps that people can do to best plan the next year?

13. How does someone who is self-employed estimate next year’s income with market fluctuations?

14. Do you needs a more expensive property purchase price to help on taxes?

15. How do renovation costs factor into deductions?

16. How does someone stay on top of tracking deductions?

17. Any final things people can do, even for next year?

Am I the Airbnb-hole?!

I’m the Airbnb-hole this week — listen to hear why :(