Building Community & Success: Joy Luedtke's Entrepreneurial Journey Beyond Property Management.

From military roots to entrepreneurial success, Joy Luedtke, incoming president of EO Idaho, shares her journey building Wave Group, a multifaceted company encompassing property management, real estate development, and more. Discover how Joy leverages her unique background and passion for community to create thriving residential spaces and empower fellow entrepreneurs. Learn about the power of EO, creative tax strategies, and Joy's vision for sustainable and affordable housing.
Connect with Joy:
Website: wave-property.com
LinkedIn: linkedin.com/in/joy-luedtke/
Instagram: instagram.com/joy.luedtke/ instagram.com/wave_property_management/
Facebook: facebook.com/joy.luedtke

Episode Transcript

(00:00):
76% of Americans live paycheck to paycheck and according to
Forbes, 93% of business owners pay more than legally required
to pay an income tax. And nearly 50% of all Americans
have bad credit, but not you, atleast not anymore.
See, this is the school of wealth where you learn how to

(00:21):
maximize your credit, minimize your taxes, and multiply your
assets so you can create generational wealth.
Hi, I'm Romney Lambert, certified FICO credit
professional, author, speaker and tax strategist.
For the last 20 years, I've helped 10s of thousands of
Americans just like you take control of their money, fix

(00:42):
their credit, wipe out their debt, cut their taxes by 50% and
multiply their assets. If you're ready to break free
from the rat race and start building a life of freedom and
abundance, then you're in the right place.
Welcome to the School of Wealth.All right, today in the studio,

(01:03):
I have Joy Ledke. Good to see you, Joy.
Thank you. Thanks for having me.
Thanks for making that long tripout here to the studio.
I used to live out this way so Ialways love a drive.
Yeah, it's always, I get a a response for people like I
didn't realize it was so far away.
Why do you live in the middle ofnowhere?
But with everybody building around me, it's it's less and

(01:25):
less middle of the nowhere. Yeah, No, you've got a beautiful
place out here. I I know why you live out here.
Yeah. Yeah.
So Joy, we have lots of things to talk about and part of it is
EO, the nonprofit organization that I talked about on the show
a lot. So I want to talk about EO, if
that's OK 'cause you are our current president.

(01:47):
Incoming. Well, it like in two.
Weeks. Yeah, we know who's really
running things right now. At this point, yeah, I think
since April, and I think it's consistent.
Every year the new people just start taking the baton and
running with them. Yeah, so, but let's get started.
Let's back up a little bit. Before you were an entrepreneur
of many businesses and before you were the president of one of

(02:11):
the largest. I wonder if it, well maybe is
YPO bigger? Not in terms of numbers, it's.
Yeah, so probably one of the largest nonprofit entrepreneur
groups in the world. 65 countries, 22,000 members.
Is that right if I remember? Right.
That sounds right to me. And I know you and I were both

(02:31):
in Hawaii together for an International Convention.
And I think that's just one of the enormous beauties of it is
to sit at a table with people from all over the world.
Yeah, that was fun. So prior to that, let's go back
to where you grew up. So I grew up in the military and
so I always tell people I'm fromthe Army, and a lot of that was

(02:56):
through the Southeast, but I didlive internationally as well and
moved to Boise. It was actually as a result of
the war with Iraq. My dad got back and said I'm
done. He joined the National Guard
here in Boise and I was just starting college and he asked me
to follow the family out and go to Boise State for some family

(03:19):
reasons, which I did. And once I came to Boise, I was
like, this is home and I'm not leaving.
And I've been here for over 30 years.
Wow. So this is home for me.
Well, welcome. There's so many people here.
I meet all, all the time. Like, where are you from?
California. Where are you from?
Washington. Yeah.
And I always say if you come from the military, you get to

(03:42):
pick any, any state, any state you want and say that that's
home because you as a family fought for all of it you.
Know yeah, I grew up in Idaho soit's very unusual to meet
someone here that's from Idaho but if you've been here 30 years
you're from Idaho it. Feels like it feels like.
We're welcoming even. There's two types of we joke

(04:02):
about, there's two types of Californians that come to Idaho.
There's the ones that move in onSunday in the moving truck on
Monday, they're at the DMV getting their driver's license
and plates. They're they're done with
California. They're now Idahoans and we
welcome them. And then the other ones that run
over people because they are hanging a American flag in front

(04:23):
of a Tesla dealership like they did two months ago, three months
ago. So.
I get really judgmental of people when I'm on the Greenbelt
and they don't follow like our local protocols.
You know, that's one of the waysI'm like, they're not from here.
You. Know what's the local protocol?
Well, you're supposed to stay onyour left if you're passing.
And I just, I just had about hadsomeone mow me down last

(04:43):
weekend, you know, and that's just not what we do here.
I we're so friendly in this townand that's one of the reasons I
love it so much. I can another protocol, I think
maybe maybe I'm wrong on this, but the local protocol is you
have a well behaved dog that doesn't have to be on a leash
controlled all the time that he because I take Sawyer, he's

(05:06):
never on leash. He's on electronic leash.
And so I'm in control of what he's doing, you know, and it I
take it because, you know, there's things down there,
there's coyotes and Bobcats and I expect there's probably
mountain lions down there. We just don't see them because
there's deer and there's Beaver.So I'm sure there's mountain

(05:27):
lions down there as well. So I just keep in mind and and
there's other people that have not so nice dogs that I can
control Sawyer with his electronic leash.
So so you grew up in your dad was in the military.
What was his MOS? What was his job?
He was a helicopter pilot, endedup his last one in the military

(05:47):
was with the Apache helicopter. So he was one of the first to
learn to fly those and then became a crew chief.
And when he moved out here to Idaho, that was when the
National Guard was getting a unit of those.
And so he helped set up their program.
Very cool. Yeah.
So he was a pilot 1st and then acrew chief, yes.

(06:08):
Was that medical reasons that he.
No, just his aptitude. He is really a mechanical
genius. He didn't want to fly anymore.
He did, and you know he would get his hours in when he was
doing test flights and stuff. But when one of the things that
was a comfort to me as a kid wasbecause he had that designation,

(06:30):
they didn't want him flying missions and my mom had medical
issues. And so it was a bit of a comfort
to know that he wasn't necessarily in the line of fire
as directly. And and that may have also been
part of his reasoning. Yeah, that could make sense
'cause I, I don't know if you know this, but I was a crew
chief on a medevac helicopter. I didn't know that.

(06:52):
Yeah, so I I took the ASFAB and my both of my uncles were in the
Army. My grandfather was in the Army
Corps that then later turned into the Air Force during World
War 2. And then my biological father
was in the Marine Corps. And this was in the 80s when the

(07:15):
Marines had really cool commercials and really cool
posters. I remember them.
And I remember in, in high school cause I've been on
podcasts and, and people that are like, did you have a Ferrari
poster or a girl poster? I'm like, no, I had Marine
posters in my bedroom. And this is after I left home.
When I was in foster care, I would scrape up some dollars

(07:37):
and, and I think you can get theMarine posters for free.
Just probably how I had the military stuff, but I wanted to
be a Marine primarily cause the uniforms were cool and their
commercials were cool. And now with Pete Hegseth in
charge, we got cool commercials again.
Yeah, I have sensed the difference and you know, I think
it they just gave a sense purpose that I think a lot of us

(07:59):
were looking for. Yeah.
And I, you know, I took the ASVAB, which is the military It
it's kind of like an IQ test or an EQ test.
It's. I took it too.
It you know what it is. So for the audience listening,
it tests your IQ, your EQ, your mechanical ability, and just
your general knowledge of thingsand how to solve problems.

(08:22):
I think that's probably the easiest way to explain that.
And I had maxed that out. And I didn't know that, though.
So I went to the Marine Corps recruiter and I was actually
talking to my dad about this just this weekend.
And I told him the story becauseI spent five hours with my
biological father this weekend on Friday, and I'd never spent

(08:45):
that much time with him in my entire life other than when I
was like two or three years old.So it was a really cool.
I was frustrated in the beginning and I'll, I'll talk
about it on another podcast. I was really frustrated in the
beginning because he's mentally ill.
He he's, he's cuckoo bird. But every once in a while he
comes back and it's like talkingto someone with Alzheimer's is
what it reminded me of. Not saying he has that, but he

(09:08):
has issues with with speaking and putting his thoughts
together. I think there's just a lot of
stuff that with drugs and a lifetime of alcoholism.
And I was telling him that when I met with the Marine recruiter,
he said, I don't know how to tell you this, son, but you're
just dumb. And the only thing you qualify
is to be a laundry or cook. And that is it in the Marine

(09:31):
Corps. And I said, well, I might be
dumb, but I'm smart enough to know that I'm not that dumb.
I went to the Army as my second choice.
And that recruiter says, what doyou want to do 'cause you maxed
out the test, you can do anything you want to do.
And I said, I want to fly a helicopter.
So he goes, that's what we'll dothen.
So I got except to fly helicopters.

(09:53):
But then in the meantime, waiting for flight school, I
become a crew chief. OK, so it's interesting that
your dad did the opposite. He was a pilot 1st.
And so we we went to Fort Rucker.
Is that where he trained? Yeah, we were in Fort Rucker.
So you lived there as a kid? I did, yeah.
My mom also has mental health issues so I didn't realize we
have such a background in common.

(10:15):
Yeah, I was in Fort Rucker. I think I told you that a few
weeks ago. I was in Fort Rucker like a
month ago. I went to the largest
regenerative cattle ranch in theworld, which is in Bluffton, GA
OK, It's Will Harris's ranch called White Oaks.
He was on Joe Rogan twice. And so I want to, I was like, I

(10:38):
have my little farm out here. And Amanda said, hey, I think we
can probably go meet him throughone of her acquaintances.
So we went, we just flew to, I was speaking at an event in
Houston. Then we flew from Houston to
Panama City. I rented a car, drove through
Fort Rucker, not through Fort Rucker, but next to Fort Rucker,
had dinner there and then ended up in Bluffton, which is

(11:01):
basically the cattle ranch. There's nothing else there,
right? And I took Sawyer in the next
morning. He's of course off leash.
And I walk into this little country store and there's this
old, older man in his late 70s and he's like, man, that's a
well behaved dog. I said thank you, Sir, what's
your name? And he's like, I'm Will and I'm
like, I'm Randy. And then Amanda walks around the

(11:21):
corner and she's like, that's him.
Oh wow. Yeah, so then we got to spend 4
hours with him as he showed us the largest regenerative cattle
ranch in the world and it was just a great time.
That sounds like so much fun. So you spent some time in the
military with your dad, with Fort Rucker.
Do you end up in Germany as well?
Yes, when I was little I was in Mintz, and when I was in high

(11:45):
school I was in Beastbotten. How'd you like Germany?
Loved it. Yeah, It was a little tougher
when I was in high school because they had just moved a
unit of Apache helicopters there, and it wasn't a popular
political decision with the Germans.
So I would be on public transport and be getting yelled

(12:07):
at in German and had, you know, no idea what was being said.
And people would laugh. And you know, I didn't take it
too personally, but I would say they weren't as happy to have us
there the second time around. You know, I think with what's
going on with Germany, I think they are so close to becoming a
authoritarian. Well, I mean, they're already

(12:27):
doing it with that. If you hurt someone's feelings
or if you say something wrong, they'll throw you in prison.
I mean, their, their freedoms, they have no freedom of speech
anymore at all in Germany and their economy is basically
bankrupt. They're struggling.
So it's it's kind of scary thinking about what could happen

(12:50):
again. Yeah, the international scene
right now is changing so quicklyand maybe it's exposing what was
already there. It's certainly not my Forte, but
it's it's a full time job just keeping up with.
It is, yeah. You know, I for.
So right now we're recording. It's in June.

(13:12):
America has not bombed Iran yet.I think it's coming.
I think they're gearing up in the next 72 hours or so to drop
the Moab, which is mother of allbombs.
That's the, they've never dropped it before in they've
only done it in tests. So that's the bunker Buster
that'll go down 300 feet and then explode and then they drop

(13:35):
another one right after they So what they do is they drop it.
The B2 bombers are the only planes that can carry it.
They'll drop it 'cause they're £30,000 each and they can carry
2. They'll drop it, it'll go down
300 feet then explode and then they'll drop another one down
the same hole and it gets even further down, even more damage.

(13:56):
So I think by the time this airsin the next two weeks, I think
we have, we'll have already dropped it and probably be in a,
a war of some kind with Iran. So that's been in the making for
47 years. So we'll see what happens with
that. Yeah, I was actually thinking
about that on the way over here is just growing up with my

(14:21):
background, anytime there was a conflict, you know, when you're
in, your parents are involved with helicopters, they're there.
And so, you know, I think my dadwas at 3 birthdays like my whole
life growing up. And it was just, you know, and I
was just thinking, you know, andthis feels different as an
adult, but maybe it's just more of awareness.

(14:42):
But you know, it just we've beenin and out of these conflicts as
long as I can remember. Yeah, and, you know, with the
news, I was, you know, since January 20th, I've been watching
the news every day and haven't. It's like Christmas every day up
until about two weeks ago. And now just with all the riots
in LA and the No Kings movement and the murders that the

(15:06):
Democrats are pushing for supporting, you know, go out
into the streets, go out and fight in the streets.
And then they're like, I can't believe people are killing each
other and assassinating, you know, people of politicians.
We what's going on? It's like, well, you guys are
the ones pushing all of this. So I, I don't watch it as much
as I was, that's for sure. You know, because it's not as

(15:28):
fun anymore to. Yeah.
Nothing makes sense. None of this is making sense.
So you left Germany in high school and then the, and then
that's when you came to Boise right after high school?
No, actually, I finished high school in Savannah, GA and then
came out this way from there. So I was actually all set up

(15:49):
with a scholarship down in Georgia to go to, I think it was
called Atlanta Christians College or something.
But, you know, honoring my folksand, and being present when my
mom could be healthier was just the better decision.
And getting to move to Boise's just been what I always wanted,
which was to have roots and to have a home.

(16:11):
Yeah. Yeah, I was in Savannah that
same trip when I was in Georgia.I ended up going to Hilton Head
and spent some couple years. Those are all my stomp the
Grounds, Panama City, Hilton Head.
And our trip was supposed to be an overnight trip, and the next
day someone called in a bomb scare at the Savannah airport,
so it closed for two days. So I ended up spending three

(16:33):
days at Hilton Head, which I'm not complaining about, you know?
Hopefully got some golf in. I didn't a lot of boating
though. I'm hoping to go for 4th of
July. I have this goal of seeing
fireworks in on all 50 States and I'm up to like 16 states so
far. That's a cool goal.
So I'm hoping I can, I'm, I'm pretty sure I'm going to go.
I know I'm going somewhere. I'm pretty sure it's going to be

(16:53):
there and we'll see it 4th of July in Savannah as well as try
to get a show the next day in South Carolina or maybe vice
versa. But.
Yeah, you can write all those off.
Yeah, so you went and it. Well, of course I'll write all
of that. Off that's.
What you do that is a business trip.

(17:13):
That's why I'm saying hopefully I can go there because I'm
lining up business things right now and it's wherever the
business person is and, and mostlikely it will turn into when I
was there before. We've already got business from
Will Harris helping him with some carbon credits because our
blockchain, that's what we do istrack and trace carbon credits.

(17:36):
So we got business out of that. And then when I stayed at their
house in Hilton Head, he he runsmultiple businesses and it's
kind of a no brainer if I can take your taxes from couple 100
grand a year to 0. It's kind of a no brainer to
make that one time investment tomake that happen.
So it's just whether or not they're going to be there.
So you went to Boise State. What was your degree?

(17:58):
Elementary Education. Oh wow.
So I, yeah, I taught when my kids were really young and I
think I was a teacher 3 or 4 years and from there helped a
friend start a small business and I took up, I managed it,
took up their accounting, managed inventory and was on the

(18:20):
accounting and entrepreneurship journey from there.
That explains how you're able tomanage all of us entrepreneurs
at EO. You're used to deal with little
kids. It's a lot like a classroom to
be honest with you. There's.
And the other thing I find so fascinating about how my degree
sort of plays in is I always think about laying things out in

(18:43):
terms of scope and sequence, youknow, doing building education
in a way that that people can learn what I mean.
And so it's actually worked for what I do now in ways that I
never would have thought possible.
Not very many people can say that, can they?
Yeah, no, right. And definitely I think a lot of

(19:04):
times teachers are can be put down or or if not thought of as
much of A degree. And yet, when you really think
about learning how people learn,you can apply that to anything.
Yeah, I don't have a degree technically.
I have a P HD2 masters and an MBA.

(19:25):
They all work for me though. Yeah, yeah, I do have
certificates and courses that were two year courses that I did
for the fire department. So I have a Emergency Management
2 year course and technically itwould qualify for an associate's
degree. I just never did the paperwork
to to do all the English and therest of it to.
There's no need. No, but that you know, it does

(19:47):
tie into what I do, you know, with my credit repair business
and my debt settlement is managing those emergencies
because it is emergency for someof the clients, you know,
they're very distraught and stressed.
Yeah. And yeah, you're so good at
that, you know, and, and I love how you approach helping people

(20:08):
so creatively and really drawingand things that people would
never think of, you know, to maximize their returns.
Yeah. Thank you.
So you got your accounting or your education degree, started
teaching, then we went to work at this.
What was the business IT? Was called Eagle Basket Company.
And you did accounting for. Them yeah, I, well, I did the

(20:29):
management. I was so I self-taught on, on
the accounting and then from there worked with a friend of
mine and helped her basically diversify her accounting firm.
And then I became a partner there and started doing, you
know, once I've done that for 5:00 or so years I did business

(20:52):
consulting. One of the beautiful things when
you do books for other people and so many different clients,
you start to see trends. You get this beautiful image of
kind of what's happening in yourvalley, who what industries are
doing well, which ones aren't? And so and the whole thing just
fascinated me. I loved it.
I I see a common theme with business owners and the most

(21:16):
common theme is their books are crap, that their books are a
mess, if they even have books and it doesn't matter if they do
100 grand or 10 million it's. So many people think it's
they're checking like what's in your checking account is, is how
you're doing. And it's so much more than that.

(21:39):
And that was the paint, the picture that I sort of painted.
And I found this interesting niche between business owners in
the real world and the communication with their
accountant, and a lot of times there's a lot of confusion.
And so I became kind of the intermediary and it was a lot of

(21:59):
fun. Have you read Profit First?
Yes. What do you think about
Michael's idea with the five different bank accounts and
separating and? I think it's AI think it's got
merit. I think it really depends on
what works best for your brain. So I, I do think it makes sense
for some. I don't do that, but I've got

(22:20):
the disciplines to make sure that I'm getting paid, you know,
and then I've got a lot of goalsin, there's a lot of things that
I'm doing and building my other industries where I, I build a
business and then I use it as the platform to build the next
one. And so that's a little bit more
important to me than keeping thecash.
Yeah, I really like the the basis of his book.

(22:44):
I think for the majority of small businesses, I think you
would really benefit from doing the profit first system.
And I teach that inside of Fortress University, which is my
financial education. I don't teach profit first
because I'm not certified. I teach the Fortress banking
system where it's similar, but we don't use the same terms and

(23:07):
stuff. And I remember a few years ago
when I first read it, I was telling I have a friend that
owns another credit repair business and we had started
right around the same time I think he was.
So my credit repair business is called Fortress Credit Pro and
his business is the Credit Pro and it started about six months
after I did. He's on the East Coast.

(23:28):
I was on the West Coast. And I'm not insinuated by any
means that that he used the name.
It was Pro is professional, you know, and there's not very many
professional credit people. So, and he's doing probably $20
million a year in revenue now. And so for the last 17 years,

(23:48):
we've shared things back and forth to help each other 'cause
there's so much business. There's 100 million Americans
with credit issues him and I can't take them all on.
So there's more than enough business for us.
So we share. And one of the things that I'd
shared with him was setting up profit 1st and how we could do
that. And he's like, well, that might

(24:09):
work for your business with all the cash you have, but it
doesn't work for our business. We're struggling and it's time.
He's doing 10 million a year. And I said, Damon, that's when
you do it. If you can't pull 3 1/2 percent,
5% away for profit and 20% for taxes, depending on where you're
at, then you need to do it. It's not if you, it's like an

(24:31):
overweight person with diabetes saying I don't think exercise is
really for me, like they're the ones that actually need it.
So I think it's if if you're a business owner and you don't
have your books and your cash flow dialed in, I recommend
profit first. I think it's a good book to
start with. It really is it.
It helps to make sense of where you're at and understanding that

(24:56):
it's not just your checking account, You know, I always tell
people, if your balance sheet isn't right, then nothing's
right. I just did a consult right
before you got here in 45 minuteconsult with a guy hadn't filed
taxes in six years. And it all comes down if you're
not every single one of my tax settlement clients, it's the

(25:20):
same story. They made a bunch of money, they
didn't save for taxes. They spent it all.
And then the next year they didn't make as much money.
And now they're in the hole and it just spirals and.
It's scary. Yeah.
And what I told him was you justneed to file if if worst case
scenario you file a zero return and then you amend it.

(25:44):
Now I'm not giving tax advice. I'm just saying that's what I've
been told by my tax attorney is file 0 to to prevent the
penalty. Cause the penalty many times is
what you owe in tax. So if you owe 100 grand in tax,
your penalty's 100 grand. And they don't wave, they don't
waive those penalties unless youask and you can show there's a

(26:04):
hardship. So.
Yeah. And even often that it's just
once, yeah. So how did you end up turning it
into an accounting business? Yes.
So started an accounting firm and we were one of the first in
Boise to do everything remote. So that was pretty new and that

(26:28):
was how we brought on all of ourclients and really kind of
pushed people, you know, into using these online systems,
online payroll and doing everything remote.
And so it was fun to be on kind of what was the cutting edge of
the time. Yeah.
Do you still have that business?So what I do now, I ended up,

(26:50):
well, we built the property management business as a sister
business when I had the accounting firm and when we had
our infamous Snowmageddon here and I had offices in Sun Valley
and here and two different businesses.
I realist at that point, I needed to simplify my life.
So that partner took the accounting side and I took the

(27:14):
property management side. But I still do the books for
clients where their financials are a part of their bigger
picture. And so I do still have an
accounting division, you know, that we get attention to, but
it's when it's in conjunction with managing their other
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(27:36):
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(27:56):
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(28:19):
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and get registered today. So I would like to spend some

(28:42):
time with you outside of this because I want to start an
accounting firm. Oh great.
Because I don't want to do taxesand I probably will end up doing
taxes as well. Not me personally, but hiring a
a very seasoned experienced CPA that only files taxes for my
clients. And what I'm finding is in my
tax strategy business, I bet it's 70% of the clients asked me

(29:07):
for a referral to ACPA and a bookkeeper and I'm sending it.
And then when it doesn't work out, they're complaining.
And then I just even though theyknow they're not, they're not
complaining at me. They're complaining to me that,
hey, this, they're just informing me that, hey, this
person you sent me two is not really doing a good job.
So I, I, I'm 90% sure I'm going to start a bookkeeping

(29:30):
accounting company. Yeah, just for my clients.
Help you just what I learned about the lay of the land and I
still keep my toe in it and still love it.
And I, I know what you mean, though.
I think it's interesting with accountants because so many of
them don't really give the consulting piece.

(29:51):
It's just pushing the button and, and that is I think a great
compliment to what you do. And then the everyday stuff, a
lot of accountants now are bookkeeping firms are hiring
virtual assistants. They're they're not even keeping
tabs on and abroast of what's really going on.
And so the quality is, is a challenge.

(30:13):
So keeping that kind of in housemakes a lot of sense to me.
Yeah, yeah. And I think, you know,
accountant, you should stay in your lane and what you really
love and you're passionate about.
And I think I, I actually talkedabout this yesterday on a
podcast. The, the woman asked me, what's
the biggest mistake that business owners make?

(30:36):
And I said the big, in my opinion, the biggest mistake
that business owners make is they expect their CPA and
accountant to save the money on taxes.
That's not their job. Their job is making sure your
balance sheet matches your profit and loss.
Reconciling their job is not They're not tax strategists.
They're bookkeepers. Right.

(30:56):
And it really it can be a job even that's cross purposes.
And so having someone that is a strategist that's separate from
that makes a ton of sense. Well, I I look at Cpas and
bookkeepers, primarily Cpas. I look at Cpas as the referee to
football game. They know the rules and they're

(31:18):
there to make sure you follow the rules.
They're not the coach that's giving you the plays to beat the
opposing team, the IRS. Now can they do a little bit?
Sure. Only because you make them and
you ask them. The CPA doesn't come out of
their they don't go out of theirway and say, joy, let's create
these five strategies and here'show you do it and I'll do all

(31:40):
the paperwork for free. They they don't do that.
They're there just to make sure you follow the rules.
And so I think that's the biggest mistake.
In fact, have you read that Forbes study that showed that
they took 10,000 business ownerstheir tax returns?
They found that 93% of them paidmore in taxes than legally

(32:01):
required. I think I only know that fact
because I know you and I keep upon your stuff.
You know that is a shocking number and it. 93%.
The tax code is there to help you pay as little as you can in
some ways. And it's 99.9% of the tax code

(32:22):
is how to legally pay less right99.9 Only 40 pages of the entire
tax code is charging your tax. The rest, and now there's
100,000 pages or whatever it is,it's really 4000 pages.
And then there's addendums. Every time they make a change,
like with the Big beautiful bill, I think that's 1000 pages,

(32:45):
that's going to get added to the100,000 pages.
So all these addendums. But again, the Big beautiful
bill primarily is what you need to do to not pay taxes.
We just entered Amanda, my partner in the blockchain
company. We got a call around midnight
from our lobbyist and he said ifyou can get a paragraph written

(33:10):
in the next two hours, I can getit put in the bill because
they've already signed off on the majority of it on R&D
credits. So she spent all night writing
this paragraph and it got stuck in the big, beautiful bill.
So we're hoping it makes it through the Senate.

(33:31):
I I know because it's going to be so good.
Yeah, hearing Amanda's experience and that's going to
be fun. Yeah, it's essentially dollar
for dollar investment. So if you invest in our
blockchain or block chains that count and track, trace, track
and sell, it's trace, track and trade carbon credits.

(33:53):
For every dollar you invest, youget a dollar tax credit.
So you invest $100,000 in the blockchain, you get $100,000
check from the government because they're trying to push,
they're trying to make it so people have money to build out
these block chains because they're hundreds of millions of
dollars to build them out. So anyway, that's fun.
So now tell me about the businesses you said earlier you

(34:14):
have. Well, stop, back up a little
bit. Are you married?
Which I know you are, but yes. What's your husband's name?
His name is Andy or Andrew and we've been married 30 years this
July. Yeah, 30 years.
Does he ever bug you? He drives me crazy, Yeah.
But you know, it's it is becausewe're opposites.

(34:37):
And what's been really fun is our youngest is moving out here
in the next couple of months to just be at a season of life.
We've been through, you know, the really hard stuff, and it's
like rediscovering each other onthe other side of raising
children. How many kids do you have?
I have four daughters. Four daughters.
Yeah. Yeah.

(34:57):
Was Andy a a friendly father when the boys came around?
When the boys came around, you know, yes, because of how we got
to know them, our kids didn't doa lot of dating.
It was, and it was funny with mydaughter Karis.

(35:20):
Her husband kept trying to ask her out, and she thought he was
just asking for information. Like, do you do you like to
snowboard? And she's like, yes, you can go
snowboard snowboarding at night for $10 a Tuesday.
Like she he was like, I'm not asking you.
So none of them made it easy, you know, on the guys.

(35:41):
But we're so thrilled. We've got two son in laws and
we're just thrilled with both ofthem.
Very cool. I think my girls might have
stretched the truth a little bitwith their friends because I
most of them seem to be very afraid of me.
And I think it was something about my dad used to bury
bodies. And my dad is in the special OPS

(36:03):
unit military and he knows how to kill people and then he knows
how to bury them. When I was a funeral director.
Yeah, well, you're not a small person and and neither is my
husband. So I do think, you know, there
was an intimidation factor that was always there and and Andy
knew it. Yeah, and I have a a problem

(36:23):
that I'm working on. I have AI have a resting bitch
face that that I need to to turnoff because sometimes I'm deep
thought and people think I'm mador angry or not like them
because my concentration face isis portraying that I want to

(36:44):
kill you. So I'm working on my resting
bitch face right now. You know those filters you can
hold up? Andy has the same thing and when
he holds up the filter the meme will show him frowning because
he just it's it's just the way his face is.
Yeah, I should look into that. Keep it in front of me all the
time. So you got 4 girls?

(37:04):
Married 30 years. Andy, where'd you meet Andy?
I met him at a camp in the Sawtooth Mountains.
I was up there for a retreat andI ended up having about a 15
minute conversation right beforethe group I was with was leaving
the facility. He was on staff there and I just

(37:26):
felt like I should apply to workat that camp, you know, just
kind of one of those nigglings and ended up working there with
him that following summer and that was when we developed a
relationship. Cool, I spent probably half of
my childhood in Sawtooth Mountains.
Oh wow, so beautiful. Yeah, my, my stepdad and my mom,

(37:49):
they were hippies. Well, he wasn't hippie, but she
was hippie. And he was 30 years older than
her. And he was under the idea that
the world would end at any moment.
And we spent a lot of my childhood with the Bundys.
I don't know if you've ever heard of the Bundys.
Yeah, the crazies. Yeah, that was our family
friends in the maze. And we spent most of the most

(38:12):
of, if it wasn't like super winter, we wouldn't spend in the
sawtooth because, you know, there's 50 feet of snow or
whatever it is. But as soon as the snow was
gone, we spent most of our days up there.
So I I rarely went to school as a kid.
And I remember when I turned, I think I'd turned 10 and Paul had

(38:33):
said to me, it's time for you tobecome a man.
Gave me a pistol, a sleeping bag, a frying pan and a fishing
pole and left me for two weeks in the sawtooths at 10.
Wow. So I had this.
I've never been lost in my entire life ever.
And so when I went into the military and I went to survival
school because being on a crew chief, you got to go 2 weeks

(38:56):
survival school, I had such a great time.
You knew exactly 'cause I was like, I got a Compass sleeping
bag and I got food. So much easier than when you
were 10. Yeah, yeah.
So I spent most of my until I was 15 because I left home at
15, but I spent most of my childhood in the mountains in a
tent. So I love the mountains.

(39:16):
My grandson's going to be here in a few weeks and we're going
to go spend a week up in the mountains.
Not sure where, but somewhere. Backpacking's a passion of mine.
I love hiking and yeah, there's so many beautiful places to to
do visit here in Idaho. That's, you know, one of the
things I love about being here is people ask me from other

(39:37):
places, like I can get on my motorcycle and literally within
15 minutes be on a mountain Rd. You know, if I just go floating
Feather or Beacon or to 55 and then just pass the subdivision
on the right. Now I'm in mountains, you know.
Yeah, don't have trees for another 5-10 minutes past

(39:57):
Horseshoe Bend, but it's still mountain roads.
Yeah, Andy is a passionate, you know, motocross rider as well,
so I'm sure you guys have probably even crossed paths out
there riding. We're going to do, you were
mentioned earlier before we started, we're going to have to
create a business trip down to Mexico for Baja Racing.
Absolutely no. He's he's ready to set it up.

(40:20):
Yeah, I'd love to do that. So now we got 4 kids, been
married 30 years. You grew up in the Army, so
that's really where you grew up because you move around a lot,
especially as a if your dad was a or since your dad was an
Apache pilot, they move, you know, a lot.
So now what are your businesses now?

(40:42):
So I have the property management.
We, I did a development company off of that and so looking to
build fire resistant, energy efficient, affordable homes.
That's been a bigger not to biteoff than I intended, but it's a
problem, you know, It's been something I've been studying and

(41:04):
researching for 10 years. Are using foam for your walls?
Actually, yes, but it's the SIP panels, it's called Zetas 2 and
it's out of Calgary. And so you know, you were
talking about the carbon creditsearlier and that's kind of a
part of the business model. They haven't quite figured out

(41:24):
who gets the carbon credits whenyou build a home with those and.
The builder gets them and the buyer gets some of them, but the
builder gets the majority of them and then you can sell them.
That's what our blockchain does,is you're going to get the
majority of them and now you cansell them to Amazon United,
these Fortune 500 companies. Yeah, yeah.

(41:47):
I mean essentially what you're talking about is the not that
you know, we were trying to crack.
I think for my it was called first wave development and the
using the SIP panels, I was doing electrical in the ground
in the flooring and then poppingup the walls in tech panels.
There were a lot of things that I was doing with that that were

(42:08):
made the current building client, you know, community
nervous because they've done thestick frame and it's like why I
learned something new. And so the piece that I'm, you
know, juggling with now is if I really want to do this in
earnest, I've got to build them and have my own construction
crew myself. And that's the part that I

(42:29):
hadn't really bargained for. So that's one of them.
We have a transport company thatwill move mobile offices,
manufactured homes and modulars.So that was a big part in
wanting to develop these homes was that we had our own
transport and then we just recently added real estate
similar to you with wanting to add accounting.

(42:51):
It's just for clients that were already servicing and wanting to
complete the pictures so that wecan be a one stop shop for their
investment needs. Yeah, when I met with Will
Harris, the the gentleman from Georgia, he'd said if he does
something more than three times,he starts a business around it.

(43:13):
And that's why majority of bluffed in Georgia, the mechanic
shop, the restaurant, the store,the butcher shop, the the
grocery store, that's all his 'cause he says if I use it three
times, I just I start my own andyeah, and that's kind of what
I've done with credit repair. So credit repairs, you know,

(43:34):
that's the lead generation and then debt settlement where we
and then tax settlement and thentax strategies for the clients
that make a lot of money. That primarily most of the
business owners that I'm gettingnow for credit repair got hit
hard during COVID. They had a great business, COVID

(43:54):
hit shut them down. They couldn't make the payments.
They got some late payments now and now they're recovered.
So those are my tax clients because they're still paying
taxes now after after recovering.
And I think I'll, I'll bring in the accounting and then I have
the real estate side for the investing, which a lot of my
clients probably like yours, arealways asking me to invest their

(44:17):
money and manage it. And it's just not something I
want to do. I don't want the stress.
The other day I found a new investment and that is it's
called, I think it's called Affirmed.
It's an Amazon company. So Jeff Bezos started it and it
allows you to invest in real estate for as little as $200.00.

(44:43):
So they're buying now. It's scary to think that if a
big company like Amazon is buying up all these residential
properties and subdivisions, because that is scary to know
that Amazon's going to own 100,000 homes in the next 10
years. On the other side, you can be

(45:03):
scared or you if you only got a couple 100 bucks, you can put
couple $100 towards it and it's not monthly.
So you can do as little as $200 in a $300,000 rental property.
And I haven't got into, I just signed up for it yesterday.
So I haven't got into how much you get paid.
But these are all net cash flowing.
You don't have to worry about and and they're paying cash for

(45:25):
these houses. So they're raising $200 at a
time and then Amazon is paying essentially paying cash.
Now I'm sure they'll leverage that later in some other way,
but you know, the houses are going to cash flow.
Unless we have some crazy 2008, I don't see that going out of
business and I don't see 2008 ever happening again with

(45:47):
there's such a demand if we can lower the interest rate.
Yeah, that's the. Which is going to happen soon, I
think. I think it's going to happen and
and I think the hesitation thereis, I was doing some research
and found that every single timein the last 100 years that
they've lowered the interest rate after a recession, 100% of

(46:11):
the time, it pushed us into a deeper recession.
And so I think they're looking at that as like, is this going
to be the one time? It doesn't.
I think if the big beautiful bill passes or when it passes,
hopefully by the time you are hearing this, it's past.
I think that's gangbusters. I think it's off to the races.

(46:32):
100% depreciation on real estate.
Again, 100% depreciation on vehicles.
Note they're saying now no tax on tips is going to be limited
to like 25 grand, which kind of makes sense.
You know the folks that aren't making like I, I have a client,
credit repair client. He made over $300,000 last year

(46:53):
waiting tables at a steakhouse in Las Vegas. 300 grand.
He can afford to pay some tax onhis tips, you know?
But if you're making 60 grand, like my mom was a waitress most
of her life, I'd be happy for a single mom or single dad or even
married couples that make 50 grand or 40 grand and not have
to pay taxes on that. So we'll see what happens to

(47:14):
that. When I managed to find dining
restaurant here in Boise, the staff were were making more than
I was as the general manager. Yeah, and but they weren't
claiming it. So I think that's one of maybe
the incentives with that is. To get them to claim.
How much people are actually making?
Yeah. Yeah, 'cause you have to claim
it in order to not pay taxes. So we'll, and then on the

(47:37):
overtime, you know, my daughter,one of my daughter's is a nurse
and the majority of her income is overtime and the majority of
firefighter income is overtime and police officers is overtime.
And that's, that's a big stress on your life.
You know, they're already working 60 hours a week and then

(47:59):
you throw another 40 hours or 30hours of overtime that they're
sacrificing a lot. And I think that should be 100%
tax free 'cause they're giving back, not giving back 'cause
they never, I, I don't say that word.
They're giving to the community.I hate that term giving back.
Didn't that pass already or not?The big, beautiful bill.

(48:19):
No, just the piece about no tax on.
Overtime, they've agreed to terms.
OK, yeah, the Senate yesterday agreed that, agreed to the.
They changed the House's terms 'cause it was up until it was up
to $160,000 in tips and 160,000 in overtime.

(48:40):
So now they've limited. So they've agreed to it and now
they're just kind of negotiatingback and forth on a little bit
of stuff. I, I think it's really close.
I think, I think they'll do a thing that they announce it on
July 4th. Oh.
Interesting. I think, I think that's going to
be the and, but the one thing they did do was they agreed to
make it permanent because they were phasing it out in 2029.

(49:05):
OK. So like on bonus depreciation,
that is one thing and it's both sides have agreed to that, that,
that that's permanent. And is this now the last I heard
the big beautiful bill, the the tax cuts for small business
owners was only being extended and not being made permanent.
Is that? That is supposed to go permanent

(49:27):
as well, so that's part of the bonus depreciation.
Now, of course some of the stuffcould change and of course I
could have read it wrong, you know, scrolling through stuff.
But a lot of those, what was notgoing to be permanent was from
what I remember was overtime andtax on tips and interest for car
loans. I think they should make that

(49:49):
permanent as well. That's going to be, I know what
will happen. I'm not agreeing that people
should do this, but I know from 20 years of dealing with
people's money, personal finances, if someone has a four
year old car and they can go buya brand new American made car
for the same payment or less or even a little more, they will do

(50:12):
that in a heartbeat. Even though I don't believe that
that's the best financial move. But they will cause cars now.
Cars now are like your phone, it's you want new ones and the
harder they are to fix. Yeah.
I mean, I think the industry sort of even modeled itself
after. With leasing after that, yeah,
you just rent it with your monthly payment and you just

(50:34):
figure that you're always going to have a car payment forever,
you know, and as a business owner, we can already write all
that stuff off. I'm saying to the W2 employee,
the nurse that can't write off the car, they're going to go buy
a new car if they can write it off.
Even if be, and I think Joy, I don't know if you've experienced

(50:55):
this, I would say that I'm not going to say the majority.
I would say that many people believe if it's tax deductible,
it's free. Yeah, I would agree with that.
Of course that's not the case. And and it's interesting they'd
rather spend 100,000 to save 30,you know, on the tax, right.

(51:20):
But but I think it's it's the deal that we just can't walk
away. From yeah, it's 30% off, right?
You know, and one of the ways I can get people to 0 with tax
strategies is the bonus depreciation with Reynolds.
It's not a loophole there. There are loopholes.
I just don't use loopholes. I use tax code because if you

(51:41):
use tax code that's black and white, you're not going to get
that has case law if there is nogetting in trouble because
that's what the code says. What gets you in trouble is the
loopholes. Right where it's like, well, I
think it means that this that. It's up for interpretation
right? One of the tax codes and people

(52:02):
are calling loopholes but it's not is If you buy a short term
rental and you manage it yourself, you now qualify as a
real estate professional. You don't have to do the 750
hours, which means you get to take the the depreciation from
your cost segregation report andit offsets your W2 income.
Awesome. Yeah, that was a big part too

(52:24):
for me and in getting that license so but that that is a
nice feature when you self manage.
Yeah, if you think about if you bought a $500,000, $500,000
condo in Daytona Beach, you're going to get on cost
segregation. You're going to get about
$150,000 deduction through cost segregation.

(52:48):
And if when the big beautiful bill gets approved, you'll get
it the year you buy it. So if you bought that $500,000
home and you financed it, you probably put 20% down.
So that's 100 grand, but you're going to get $150,000 tax write
off. So which means if you made 150
or less from your W2 job, you paid no income tax.

(53:10):
And now since you saved 4050 grand in income tax, you now
have half the down payment for the next one and you just start
rolling this thing. And then eventually you have
enough short term rentals that you can become a full time real
estate professional. So that's why I just love it.
It's creative. Yeah.
And you know, it creates the ability.

(53:33):
Time is the currency, you know, and, and that's the kind of
stuff that you're talking about here.
So with your rentals, I know youhave a property management
company. Do you also own some of the
properties inside there? Yeah, I own about 10, OK.
And you know, I, I just, I love being able to just roll that in
and I don't have to take all thecalls.

(53:55):
You know, that's something that we share amongst the whole team.
And so it's, it's just a joy. We I've done it for 15 years now
to built it to a place where, you know, we've got this spread
out. I'm not taking calls in the
middle of the night anymore. And you know that thing so.
With the the 10 that you own andeven the ones that you manage,

(54:19):
have you ever looked at the 831-B plan?
I have. Yeah, did it not pencil out?
It didn't in that situation, butthat I I would like to.
In fact, if just started researching, I'd like to get a
duplex and maybe put an Adu in the back, and I think that's a

(54:39):
scenario where that kind of thing will make a lot more
sense. Yeah, I'm trying to get Corey
Peterson is my business partner on the apartments and we have
2000 doors total. And I'm presenting to him the
831-B plan and just saying, look, let's stop getting $500
security deposits from the students and let's just bill him

(55:01):
an extra 35 bucks a month. Because realistically, if they
trash the place, because it's all student housing, if they
trash the place, the $500 deposit is not going to cover
much, you know, and because they're all they, they can't
trash that much. I mean, because they have three

(55:23):
other roommates and the other roommates are also responsible.
So, but I mean, obviously they can't, but you know what I'm
saying like. Yeah.
No, I mean, it's, it's an interesting gamble and then that
all becomes income and you're not holding that liability.
I certainly have seen a lot morethings in the property
management industry kind of go that direction, whether it's pet

(55:45):
fees or you know, and you know, for the most part, I think I
think it works. You know it, there's always
going to be a situation where that wasn't the best scenario,
but overall, you know, it makes a lot more sense.
I know Shannon, he's also a member and he's he's shared this
publicly with people. He was saying that he's spent,

(56:07):
he's a, a real estate developer,builds apartment complexes,
shopping malls, subdivisions. He was saying he's paid like a
million plus dollars in commercial insurance and he's
had one claim that was $25,000. And so he's looking at the 831 B
'cause then he can raise his deductible to, you know,

(56:27):
$1,000,000, maybe save two $300,000 a year in premiums or
even 100,000 in premiums. And then if he does have a
claim, he's got his 831 B to kick in.
I think it makes sense for somebody like him.
Yeah, I actually brought one of my clients and got, you know,
had them do a sit down. With them.

(56:48):
Yeah, for the 831 and I would say we're fairly conservative
area, it's difficult to get local accountants to sort of buy
in. And so, you know, for that
particular client, it would he, it was recommended to him from
other professionals that he not do it.

(57:10):
But you know, it's, I think, butagain, I think that's part of
what you bring is, is the more creative approach, willing to
look at things that are a littleoutside of the box.
And I do think that the 831, youknow, when you when you do it by
the rules. Yeah, if you follow that works,
you got to follow the rules and that that's a great thing with

(57:32):
with Vans company with SRA is they, you know, they their audit
just got finished. It was an 8 year audit.
I didn't know that. I knew that from talking with
them that they've never had anything come back on them.
It was 8 years and the IRS finally sent him a letter and
said basically we give up. Van had sent them 3500 boxes of

(58:01):
documents that had about 5000 pages in each document and it
was a new agent and he just, they just completely overwhelmed
them with documentation justifying what they did.
And so the IRS basically wrote aletter saying you're good, we're
we're done, we've closed this out and there's no penalties and

(58:23):
carry on. So.
Yeah, I know. I'm, I'm glad it's out there
because, you know, the insurancepremiums are doing nothing but
go up. Yeah.
Yeah, for sure on that. Do you have collections, charge
offs, even repos on your credit report?
Let me tell you what not to do. Don't ignore it and don't

(58:44):
overpay it. See, most people either panic or
they pay full price, or they bury their head in the sand and
let their credit rot until they get sued.
At Fortress, we help you restructure your debt, settle it
for a fraction of what you owe. And because of the way we
negotiate with the banks and thecollection companies, we often
can get it removed from your credit report as well.

(59:08):
Now, a lot of the time, the creditor will agree to delete it
upfront. This isn't a trick, it's a
strategy. So click the link in the bio to
learn more or go to fortressu.com.
So with your with your businesses, you have the

(59:29):
property management, you have the accounting, the development,
and then your husband has his mechanic and building and
transporting business. How do you have all that stuff
set up? So structures.
Right. So everything right now is its
own LLC. Some of them have the S Corp

(59:51):
election. One of the things I'm looking at
now is setting up a parent, you know, C core and then doing some
restructuring. I feel like I'm for the first
time at a place to consider those things and to move some
things around. I wasn't quick to do it because

(01:00:12):
I've got part different partnersand different entities.
And so you're doing that was just a little bit more.
Complicated. And honestly, it took a while in
my own head even to work out howall of these things work
together and what ultimately I wanted to do with them, you
know? Yeah.
And it's it's when you're ready to do it.

(01:00:33):
It's such a powerful move because it does three things.
Number one, and the most important is asset protection.
That's why you do it. It makes you invisible and it
makes you bulletproof and fraud and frivolous lawsuit proof.
Proof as in they can't take anything from you.
So now you can really rest assured at night and not ever

(01:00:55):
have to worry about someone sneaking in a frivolous lawsuit
and you losing a bunch of money.Remember that the lady that we
had at the the training event, she was saying the average
lawsuit in Boise's $1,000,000 for a business owner.
That was like 4 weeks ago, 5 weeks ago, Pam.
So think about that. If we could just forget about

(01:01:17):
it, you know? I think one of the things that
working out has a lot to do withmy own exit strategy.
You know how you set that up that needs to be, you need to
kind of have that in view and, and that's the part that I feel
like I'm just trying to decide. It's like I would like to to be

(01:01:38):
able to pursue other interests in the next five years.
And so, yeah, I think that was also a big impetus for getting
that stuff C stuff and settled now.
Especially if you're going to sell because there's a $50
million tax exemption. So if you sell for 50 million or
less, you pay no capital gains tax.

(01:02:00):
As long as you have it set up asAC Corp and you sell it's A
shares, you sell the shares, theC Corp, which you would do if
the C Corp owns all of the otherentities, then you would be
selling the shares. And then you would have to have
five members, shareholders and it's $10 million exemption per

(01:02:22):
member or per shareholder. So you, your husband, three of
your kids, that's $50 million, no tax.
That would save you $10 million.I like to tease my kids.
Which one of you is one of the three?
Yeah, exactly. I can't take you all.
I can't take you all. Yeah, it, well, it's, it's 10
million. Yeah, it's 10 million up too.

(01:02:44):
So if you had six or seven partners, then it's just
7,000,000. Yeah, whatever it is.
Yeah. Yeah.
So that's one way to look at it.So the asset protection and the
way I describe it is would you rather have a lot of people push
trusts? Yeah.
And the problem is revocable trust have no asset protection

(01:03:04):
to them at all. It's zero until you die.
And who cares after that? You know, and but these
attorneys are pushing it and thesocial media influencers are
pushing put your stuff in a trust and they don't realize
trust have a flat tax rate of 39%.
It's the high. It's almost double what AC

(01:03:24):
corpus. Does that depend a little bit on
when you set it up? No, because it all changed in
March 2024 it retroactive it January 1st, 2025 it went into
effect. OK, so irrevocable trust have
asset protection, but you can't run your business inside of an
irrevocable trust. You know.

(01:03:46):
So I met a guy yesterday and he's like, Oh yeah, I have my
business are all in the irrevocable trust.
I'm like, oh, that's fine until you get audited and then you're
going to lose everything becauseand when I say lose everything,
he's going to lose all his deductions and he's going to get
penalties and interest because you can't be the manager of your

(01:04:07):
own irrevocable trust. That's.
Not why you do it. No.
And so I I described the irrevocable trust is the best
camouflage in the world. You can hide out in the woods,
but unfortunately if you get sued, you got to tell the judge
where you are. Or you can have AC Corp in
Wyoming, that's AM/1 Abrams tankand you're driving around.

(01:04:32):
Everybody knows where the tank is, but they can't get inside of
it. So that's the C Corp.
And then the tax part of it, everything flows up.
You know, Apple, Apple did this a few years ago.
They were paying 10 plus billiondollars a year in income tax to
the state of California and another 20 billion or so to this

(01:04:55):
to the US government for their because it was at the time it
was almost 40%. Now it's 21%.
But instead of paying that, whatthey did is they hired a taxes
strategist that was actually attorney and he said how about
we set up a company in Ireland, we'll call it Apple.

(01:05:16):
It's in a corporation. So it's Apple Inc, but it's in
Ireland. And what Apple America did or
Apple California did, is they sold all of their intellectual
property to Apple Ireland. They got billions of dollars for
that. They paid capital gains tax on
it to make it all legal and legit.

(01:05:37):
And ever since, they're sending a check to Ireland every year
for billions and billions. Now it's up to about 40 billion
a year to Ireland for leasing the intellectual property on
this iPhone. Why would they do that?
Because the capital rate, the tax rate in Ireland is 12%.

(01:05:58):
So they're saving 10s of billions of dollars.
And you and I can do the same thing.
We just, we don't have to go to Ireland, we go to Wyoming
because the tax rate in Wyoming is 0.
Now they're still federal, but then it caps out at 21%.
So the income shifting is prettycool.
And then legacy, if you do it all right, if something ever

(01:06:19):
happened to you and Andy, instead of your kids inheriting
everything, they're already in part of the C Corp, They're
shareholders. So there is no estate tax,
there's no probate. It's just the management.
They're now or they're now directors instead of just
shareholders. So that's the three reasons you
do it. Well, and you could be anonymous

(01:06:40):
too with Wyoming, right? Yeah, nobody knows it.
Yeah, it's a non reporting state.
So it's a non reporting, non charging, non tax.
It's the only state in America that's that way.
So no one knows who owns the C Corp or the LLC.
If you sue the LLC, they can never collect from you.
They can't charge you to sell anything.
They can't levy your bank accounts, they can't seize your

(01:07:02):
assets. They get nothing.
They just stand there with theirhand out and then there is no
tax. So you don't have to report
anything. You have to pay the annual fee.
I think it's 60 bucks or something.
The state of Wyoming knows who owns it.
Right. But if you go, like if we go to
Idaho and you type in an Idaho LLC, you know who the owners are

(01:07:24):
and you pretty much know where they live too because a lot of
people put their home address. Yeah, they do.
So fun stuff. That's what I love about being
an entrepreneur. We need to be so creative with
all these things. Yeah, I mean, it just it's, it's
so much fun and I mean, it's exhausting, you know, at times I
can definitely wear myself out because it's like as soon as I

(01:07:47):
Createspace. I.
Create a process, you know, I'vecreated bandwidth and then
that's when your brain starts going.
And I've promised myself I'm notgoing to do it again.
But I've said that before, so. Can't.
You can't get rid of that. Well, now you're doing so now
you're the incoming president ofEO, our Idaho chapter.

(01:08:10):
I am so excited about this year.I think we're going to do some.
We're going to be the talk of the town, if you will, with some
of our events and. Yeah, the energy with our board
is just phenomenal. I'm just seeing an engagement
that you know, and being a part of teams like that when you're
all especially because we're allsuch unique birds and when we

(01:08:34):
get to do stuff like that together and really see what we
can accomplish, that's not moments that you get very often.
No, I, I met this guy two weeks ago.
I went to LA to train a couple adozen or so entrepreneurs on tax
stuff and I met this guy. He's charging $35,000 to do a

(01:08:56):
five day event, which is essentially a forum, 35 grand
per business owner, per businessperson.
So what we do in EO. So if if you're listening to
this and you're a business ownerthat makes over $1,000,000 a
year, I highly recommend entrepreneurs organization to
you. So
entrepreneursorganization.com, Ithink its.org, imsorry.org,

(01:09:21):
entrepreneursorganization.org. And then it takes you like
eonetwork.com, I think whatever,if you're not making $1,000,000,
but you want to make $1,000,000 a year, which is 93% or so of
business owners in America, thenwe have, you can still join, but
you're under the accelerator program.
What's the stats do? Do we know the stats of if you

(01:09:42):
join EOA that you actually qualify for EO at 1,000,000?
So the program is set up to qualify in two years.
Two years. And I mean, at least in our
chapter, most of them do. And it's pretty.
And everybody comes in, you know, at different stages.

(01:10:04):
But our graduation rate into EO is pretty phenomenal.
In fact, you know, it makes the backfill a challenge because
we're graduating so many people into the program.
And I'm actually the first accelerator graduate for our
chapter. Oh, really?
Yeah. Wow, so do you think it's 7080%?
Yeah, if not higher. Yeah, think about that.

(01:10:25):
If you're making, if you're making 200 grand a year and
there's an 80% chance you'll make making $1,000,000 a year in
two years, I don't think there'sanybody else that can say that
or any organization that can. No, and I don't know of
anything. And I, I would say, I think here
in, in Boise, you know, with oursuch favorable economy,

(01:10:47):
favorable state for small business, I think our graduation
may be be a little higher than other places, but the, the
program is exceptional. And I've done, you know, I'm in
a lot of different industries. I've gone to trainings and in
different ones over the last 20 years.
And by and far the quality of the things that I see coming out

(01:11:09):
of VO are so much higher. It's it makes going to the other
things not really worth my time to be honest.
And. And, you know, not even just the
training and the exceptional thing there, it's the people.
No, I was really struggling, especially as a female as well,
to find a community that understood my issues and making

(01:11:33):
payroll. All the, the things you people
can hear the dollar amount that you're dealing with and be and
just be impressed with that and not come with that guttural
sense of the responsibility thatthat means.
And the people that you have to take care of and, and navigate.
And that's an enormous part of this community is that they
support you just intrinsically because many times they've

(01:11:57):
already walked the path you're on or you've done it.
And, and we share back and forth.
You know, we're an organization that doesn't give advice.
We share experiences. I for the last 18 years, I've
spent multiple 6 figures every year on masterminds, some of

(01:12:18):
which are over $100,000 a year. I've cancelled all of them.
Every single one of them. I get asked on a weekly basis if
I will join someone's mastermindand I said there's no need.
I had someone recently, he said,when was I did a podcast with
him and after the podcast, he's like, when was the last time you
sat in a room with 10 highly functional entrepreneurs that

(01:12:40):
could help you with stuff? I'm like, I don't know about
three hours ago because it was right after our board meeting
and he's like, oh, how did you do that?
Then I explained it and so now my response to you want to join
the mastermind. I said I would happily come to
your mastermind and teach, but I'm not joining because I don't
need to. Any problem in my life, and I

(01:13:04):
truly believe this. Any problem that I could
potentially have personal business wise, any problem at
all, I can make a couple text messages and have the solution
within hours if not minutes. And not just in Idaho.
I could be getting a solution from somebody in Japan or

(01:13:24):
Germany or Ireland. Like we have our next trip
coming up in Dublin. You know, talk about business
trips. That's the other thing, when I'm
traveling all over the place, enjoying a lot of these are EO
trips. Yeah, I'm going to Cancun.
I got accepted, by the way, to Global Speaker Academy.

(01:13:45):
So I'm going there in CAN in September.
I'm going to Sonoma in August, I'm going to Scottsdale I think
in October, right, Ireland in April.
Costa Rica, it's. Coming Costa Rica, Brazil's
coming up, maybe even Croatia inSeptember.
Have you seen? I don't even want to tell you

(01:14:07):
tell anybody because it's kind of a secret.
There's an EO member in Croatia that has 155 foot luxury yacht
and he lets 5 Eowers in their spouses use his yacht every year
for $5000 each. So for 10 grand you get to go on

(01:14:27):
this 155 foot luxury yacht with fully staffed, all the food, the
drinks, the whole thing for 10 grand.
And and that's so much of what this community does and it's all
over the world. You can go to any city that's
got one of these chapters and say I'm in town and people will
show up for dinner or take you on these once in a lifetime

(01:14:49):
experiences. And the other thing I love about
it that's so unique to me is it doesn't operate from a sense of
scarcity, but abundance. Yeah.
And that is rare. And that's what you know, that's
what we. That's what you need to grow.
You've got, I've got information.
I've already been down this path.
Here's all the files on how you can do it.
Yeah. And, and that's what I'm saying,

(01:15:10):
like I could send a text messageand have any problem that I need
solved immediately within minutes to hours.
And I, I truly believe that I get on WhatsApp and I send the
message and that that's, for example, Amanda did something on
the WhatsApp the other day aboutour blockchain and within
seconds we had one of our members reach out and told her

(01:15:32):
what to do. The I remember when your forum,
you know, which is what they call, we call these groups was
getting together and forming. I was like you.
It's such an amazing group of just strong men and such
powerhouses. And so I was like, well this is
either going to blow up or be absolutely phenomenal.

(01:15:55):
And my gut was it's going to be amazing.
And that's what it has been. That's what Doug from CI told us
at our very first forum, becausehe did all of our personality
profiles. He's like, this is absolutely
going to be a nuclear bomb or this is going to be a phenomenal
thing for you guys. It's a world changing group.
And, and we had, we had one little thing, but you know, it

(01:16:16):
got fixed. And it, it's, it's so that's
just part of it. There's 92 other things that we
get out of EO other than just forum.
You know, forum is there's six to seven people, different
industries. You get together once a month,
twice a year for a mini vacation, basically business
trip. And you share what's going well

(01:16:37):
in your life, You share what's going bad in your life.
And then we all experience share, we don't give opinions,
we don't give advice. It's all based on experience.
And what's what I really like about it.
One of the things, many things is I don't have to be the
smartest guy. You know, I, I heard it on a

(01:16:58):
business owner from the Hawaii chapter, say a few months ago
when we were there, that when hejoined, he thought that business
owners were the smartest people in the world.
And you realize they're really not, they just have a different
vocabulary that they have problems just like everybody
else and just a lot more stress than everybody else 'cause they

(01:17:19):
signed the front of the check, not the back of the check.
And there's a lot of stress withthat.
So I love you. I, I think I'm in it for the
long, I mean, it's saving me a quarter, $1,000,000 a year just
on masterminds and, and there's no solicitation.
I love that. Yeah, I do too.
I I don't even answer my phone anymore because it's a constant

(01:17:41):
solicitation. But you know, one of the things
that I appreciate is you've got such a depth of experience and
why it's a valuable to you. And, and when you know, having
that energy in the chapter, it just elevates everybody.
You know, it's easy to to forgetthat this organization is what

(01:18:02):
you bring to it and not be in the what you know what, what's
what's in it for me kind of mentality.
And it's, you know, it's not a, I'm on the membership community.
And one of the things that I will tell people is, look, it's
not a, a day spa. It is a gym.
You're going to get out of it what you put in.

(01:18:22):
You're not going there to get pampered.
We're, we're not going to pamperyou and provide all your needs.
You got to put in the effort to get any results out of it.
And that's what I see when I talk to some people and they're
leaving or not happy. I'm like, well, what are you
doing for the chapter 'cause I haven't seen you at any events,
right. What are you produce?
What are you, what are you doingfor us?

(01:18:44):
Well, I've been really busy. Well then that probably explains
why you're getting nothing out of it.
And I think it's so important that you, you know, you're
involved at a local level, but really it's the regional and
national stuff that really help you catch the culture, you know,
that we're talking about becauseit doesn't just come naturally.
You know what? You don't experience this level
of generosity and and group share and just with if unless

(01:19:10):
you've tasted it first. Yeah, you know, and they have
like Wharton, how long is that atwo year program?
You can go to Wharton Business School through EOI.
Think so. And they have Oxford and they
have Harvard. From a guy that has a PhD,
that's pretty impressive that I could go to Wharton.
As in public high school diploma, barely.
That's my PhD. And, and the thing that's so

(01:19:31):
phenomenal about them is that they're programs designed for
entrepreneurs that are working for you immediately on the
ground versus things that can bemore intellectual.
And then it's harder, you know, to know how to apply.
So it's really tailored for those of us that are still in
the trenches and, and it's relatable.

(01:19:52):
And you get as much from the teachers as you do from the
other classmates because they bring it now.
So I've been passionate about learning and growing as a leader
ever since I hit, you know, the doors of EO and so being
presidents. It's a lot of work for sure, but

(01:20:13):
you know, one of the things thatwhen I stepped into EOI felt
like I was already dealing with the top 20% of the population
because these are the people that are doing owning businesses
to make a difference. And when you step into
leadership, you find the same thing.
And so you just really get to refine not only yourself, but
who you get to have conversations with.
Yeah, for sure. It has been so much fun.

(01:20:36):
I could go for in a couple more hours, but we're not Joe Rogan,
so. Right.
Well, it's such a pleasure to just visit with you and to hear
all the things we have in commonand, and what you're doing to,
you know, be a world changer. And I love that.
I love fact that you took the time to drive all the way out
here and spend this time with me.
If anybody want to reach out to you, how would they find you?

(01:20:59):
So joy at wave-property.com. It's probably my easiest e-mail.
[e-mail]. Yeah.
And then if you go to that website, you can see.
Our-property.com. Yeah, OK.
Yeah. Anything else you want to share?
No, I don't think so. I'm just glad we got to do it.

(01:21:20):
Maybe we'll do it again soon. OK, sounds good.
Alright, thanks so much for tuning into another episode of
of the School of Wealth. I appreciate you.
Remember, it's not how much money you make that's important,
it's how much money you keep.