Passive Income Pilots

What happens when record debt, rising interest rates, and AI disruption collide in the global economy?Hosts Tait Duryea and Ryan Gibson welcome back market veteran Guy Adami to unpack the forces shaping today’s financial markets. From bond yields and inflation to the Buffett Indicator and AI’s impact on jobs, Guy offers a behind-the-scenes look at what professional investors are watching right now. The conversation explores why the market feels strong even while many stocks are down sharply, how passive investing has reshaped valuations, and why global debt and currency devaluation may become defining issues for the next decade.For pilots and high-income professionals building wealth, the episode highlights the importance of understanding what you own, staying tactical in uncertain markets, and focusing on long-term asset ownership in an inflationary world. Guy Adami is a veteran market strategist, hedge fund manager, and the longest-tenured host on CNBC’s Fast Money. With decades of experience analyzing global markets, macroeconomics, and equities, Guy is known for breaking down complex financial trends into practical insights investors can use.Show notes:(0:00)  Intro(03:12) Why market volatility is returning(04:32) Global bond yields driving market stress(06:07) The narrow market leadership problem(07:39) Buffett Indicator warning signals(10:38) How investors should approach markets(13:36) AI disruption and labor market risks(21:33) AI hype cycles and tech bubbles(31:04) Treasury auctions and global debt pressure(39:20) Tactical investing in uncertain markets(47:02) OutroConnect with Guy Adami:LinkedIn: https://www.linkedin.com/in/guy-adami-304618a/ Website: https://www.riskreversal.com/Youtube: https://www.youtube.com/@RiskReversalMedia If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/ — You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/ Join our growing community on Facebook: https://www.facebook.com/groups/passivepilotsCheck us out on Instagram @PassiveIncomePilots: https://www.instagram.com/passiveincomepilots/Follow us on X @IncomePilots: https://twitter.com/IncomePilotsGet our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/Do you have questions or want to discuss this episode? Contact us at [email protected] See you at the next one!*Legal Disclaimer*The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.

Hosts Tait Duryea and Ryan Gibson sit down with First Officer at Southwest Airlines pilot John Wahrmund to unpack how one listener turned podcast advice into real results. John shares how episode 10 pushed him to buy a short-term rental in Galveston, unlock major tax savings, and rethink how his family builds wealth. This episode highlights intentional investing, knowing your market, using the right team, and why tax strategy can be a powerful tool for high-income professionals who want more freedom, options, and time.John Wahrmund is a Southwest Airlines pilot and retired Air Force officer who spent 20 years flying military aircraft before starting his airline career. In this episode, he shares how he used lessons from Passive Income Pilots to buy a short-term rental in Galveston, reduce his tax liability, and build a more intentional long-term wealth strategy for his family. His story brings a practical, real-world example of what happens when a listener takes action.Show notes:(0:00) Intro(0:56) John’s aviation background(2:08) Why he brought tax returns(6:25) An episode that sparked action(8:43) Why Galveston made sense(12:21) How the tax strategy works(15:09) Financing the first property(18:03) Tax savings over cash flow(21:51) Start with your real goal(30:24) Tech stack for remote hosting(36:06) Why the real win is time(40:02) OutroConnect with John Wahrmund:LinkedIn: linkedin.com/in/john-wahrmund-56151810 Email: [email protected] Related Episodes:#10 - Reduce Your Taxes & Maximize Returns Using PROVEN Investment Strategies with Toby Mathis#23 - Counting the Cost: The Risks and Rewards of 401(k) Loans for Pilots#41 - Short-Term Rental Strategies To Maximize Your Passive Income with Dan Templin:#68 - Cruising to Success: Optimizing Your Short-Term Rentals with Airbnb Insider Daniel Rusteen#110 - The IRA Club Advantage: The Self-Directed IRA Strategy for Pilots with Ramez Fakhoury#137 - Revocable Vs. Irrevocable Trusts: What Pilots Must Know with Adam KintighIf you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/ — You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/ Join our growing community on Facebook: https://www.facebook.com/groups/passivepilotsCheck us out on Instagram @PassiveIncomePilots: https://www.instagram.com/passiveincomepilots/Follow us on X @IncomePilots: https://twitter.com/IncomePilotsGet our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/Do you have questions or want to discuss this episode? Contact us at [email protected] See you at the next one!*Legal Disclaimer*The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.

Hosts Tait Duryea and Ryan Gibson explore one of the most common questions among airline pilots: Should you start a side hustle? Drawing from Ryan’s early experience building income streams during layovers, the hosts share practical ideas pilots can pursue both inside and outside aviation. From consulting and drone photography to aircraft brokerage and real estate investing, they explain how extra income can become the fuel for long-term wealth building. They also discuss tax strategy, airline contract knowledge, and why passion matters when choosing a side hustle. If you’ve ever wondered how to turn extra time into opportunity, this episode offers plenty of ideas.Show notes:(0:00) Intro(1:03) Ryan’s first airline side hustle story(3:00) Turning layover time into opportunity(5:23) Why extra income matters for investing(6:30) Discipline and tax planning for side income(7:26) Using airline contracts to create free time(10:10) Aviation side hustle ideas explained(17:34) Helping pilots prepare for airline interviews(22:50) Non-aviation side hustles and real estate(30:53) Airline training and instructor opportunities(33:43) OutroRelated Episode:#95 - Franchise Investing 101: Insights and Opportunities with Cliff NonnenmacherIf you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/ — You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/ Join our growing community on Facebook: https://www.facebook.com/groups/passivepilotsCheck us out on Instagram @PassiveIncomePilots: https://www.instagram.com/passiveincomepilots/Follow us on X @IncomePilots: https://twitter.com/IncomePilotsGet our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/Do you have questions or want to discuss this episode? Contact us at [email protected] See you at the next one!*Legal Disclaimer*The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.

Tait Duryea and Ryan Gibson break down one of the most important retirement decisions pilots face: Traditional vs. Roth IRAs. They explain how taxes impact withdrawals, why required minimum distributions matter, and how poor planning could leave your kids with a massive tax bill. The conversation also explores advanced strategies like Roth conversions, self-directed IRAs, and “Roth chunking” during low-income years. If you want to build wealth through real estate while protecting your retirement from unnecessary taxes, this episode offers practical frameworks to help pilots think long-term about their portfolio, income streams, and legacy planning.Show notes:(0:00) Intro(3:01) Traditional vs Roth fundamentals(7:30) Required minimum distributions explained(11:13) Nest egg vs golden goose investing(14:55) Using self-directed IRAs for real estate(21:37) Inherited IRA tax pitfalls(26:08) Roth chunking for new airline hires(30:58) Strategic Roth conversions during low-income years(35:11) Passive income to fund retirement(38:35) Advanced Roth conversion appraisal strategy(45:38) OutroRelated Episode:#110 - The IRA Club Advantage: The Self-Directed IRA Strategy for Pilots with Ramez Fakhoury: https://passiveincomepilots.com/episode/110-the-ira-club-advantage-the-self-directed-ira-strategy-for-pilots-with-ramez-fakhouryIf you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/ — You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/ Join our growing community on Facebook: https://www.facebook.com/groups/passivepilotsCheck us out on Instagram @PassiveIncomePilots: https://www.instagram.com/passiveincomepilots/Follow us on X @IncomePilots: https://twitter.com/IncomePilotsGet our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/Do you have questions or want to discuss this episode? Contact us at [email protected] See you at the next one!*Legal Disclaimer*The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.

Tait Duryea and Ryan Gibson sit down for a special hosts-only episode to break down where they see the biggest opportunities for 2026. From reshoring trends fueling industrial growth to the demographic wave driving senior living demand, they unpack the macro forces shaping real estate right now. They also explain why falling interest rates, reduced new construction, and renewed capital flows are creating a unique window for investors. Plus, they dive into debt funds, tax considerations, and why consistent cash flow can be a game-changer for high-income professionals looking to upgrade their money strategy.Show notes:(0:00) Intro(01:16) Announcing the 2026 Vegas conference(03:16) 2026 investment focus areas(04:18) Reshoring and industrial growth(08:25) Real estate cycle breakdown(12:52) Cap rate expansion explained(14:07) Self-storage supply trends(18:23) Senior living demand wave(21:48) Baby boomer wealth shift(29:27) Debt funds and cash flow(31:03) Tax strategy for debt investing(35:32) OutroIf you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/ — You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/ Join our growing community on Facebook: https://www.facebook.com/groups/passivepilotsCheck us out on Instagram @PassiveIncomePilots: https://www.instagram.com/passiveincomepilots/Follow us on X @IncomePilots: https://twitter.com/IncomePilotsGet our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/Do you have questions or want to discuss this episode? Contact us at [email protected] See you at the next one!*Legal Disclaimer*The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions

Hosts Tait Duryea and Ryan Gibson welcome former IRS auditor Victoria Boon to cut through the noise around aircraft tax deductions. Learn how bonus depreciation really works, why aircraft are treated differently from real estate, and what the IRS actually looks for during an audit. From Delta bonus taxation to leasebacks, qualified business use, and depreciation recapture, this episode is essential listening for pilots considering aircraft ownership as a tax strategy.Victoria Boon spent 22 years at the IRS as a subject matter expert, including leading national audits focused on aircraft deductibility. She now co-owns Boon.tax and founded Boon Tax Educators, where she provides tax education for CPAs, enrolled agents, and investors. In this conversation, Victoria shares rare, insider insight into aircraft write-offs, audit triggers, and the mistakes that get taxpayers into trouble.Show notes:(0:00) Intro(01:44) Why bonuses are over-withheld(04:39) Aircraft deductions overview(07:18) Bonus depreciation rules(08:16) Qualified business use explained(11:37) Depreciation recapture basics(14:29) IRS documentation requirements(18:02) Audit horror stories(22:21) Why aircraft trigger audits(37:56) 50% rule and bonus loss(39:30) Passive Vs. Qualified business use(46:36) Social media tax myths exposed(53:45) OutroConnect with Victoria Boon:Website: https://boon.tax/ Structured Tax Education Classes and Workshops: https://boontaxeducators.com/ If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/ — You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/ Join our growing community on Facebook: https://www.facebook.com/groups/passivepilotsCheck us out on Instagram @PassiveIncomePilots: https://www.instagram.com/passiveincomepilots/Follow us on X @IncomePilots: https://twitter.com/IncomePilotsGet our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/Do you have questions or want to discuss this episode? Contact us at [email protected] See you at the next one!*Legal Disclaimer*The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.

What if the IRS already allows you to write off far more of your real estate, but no one ever showed you how?In today’s episode, Tait Duryae sits down with Gian Pazzia to break down cost segregation in plain English and explain why it remains one of the most powerful tax strategies for real estate investors. Building on last week’s depreciation primer with Hall CPA, this episode covers how cost segregation works, when it makes sense, audit risk myths, and how pilots can apply it to everything from single-family rentals to commercial deals. You’ll also learn about a new, low-cost software option that makes cost seg accessible to smaller investors.Gian Pazzia is a structural engineer and tax strategist with over 25 years of experience specializing in cost segregation studies. He is the founder of KBKG, one of the largest cost segregation firms in the country. Gian began his career at Arthur Andersen, working on large-scale commercial projects, and has since helped thousands of real estate investors legally accelerate depreciation and reduce tax liability through IRS-compliant strategies.Show notes:(0:00) Intro(2:18) Why cost segregation matters(5:46) Cost seg vs straight-line depreciation(8:39) What assets qualify for write-offs(10:18) IRS-approved depreciation methods(14:54) Land value impact on tax benefits(19:24) Cost seg for small properties(25:32) Audit risk explained clearly(34:04) Using cost seg on older properties(37:40) DIY software walkthrough(39:10) OutroConnect with Gian:Website: https://www.kbkg.com/management/gian-pazzia Cost Segregation Software: https://www.costsegregation.com/ Promo Code: PILOTSCODE (10% off for first-time users)Related Episode:#144 - Depreciation, Cost Segs, and the IRS Rules Pilots Miss with Brandon HallIf you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/ — You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/ Join our growing community on Facebook: https://www.facebook.com/groups/passivepilotsCheck us out on Instagram @PassiveIncomePilots: https://www.instagram.com/passiveincomepilots/Follow us on X @IncomePilots: https://twitter.com/IncomePilotsGet our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/Do you have questions or want to discuss this episode? Contact us at [email protected] See you at the next one!*Legal Disclaimer*The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.

Tait Duryea is joined by Brandon Hall to break down one of the most misunderstood tools in real estate investing: depreciation. From straight-line depreciation to cost segregation and 100 percent bonus depreciation, this episode explains how so-called “phantom losses” can legally reduce or even eliminate taxable income for pilots and other high earners. They also cover depreciation recapture, common investor mistakes, and why experienced investors think in decades, not tax years.Brandon Hall is the founder of Hall CPA, widely known as The Real Estate CPA. After working at Ernst & Young and PwC, he left the corporate world to build a national firm focused exclusively on real estate investors. His team supports everyone from first-time landlords to large syndications and funds, with a practical, no-nonsense approach to depreciation, cost segregation, and long-term tax strategy.Show notes:(0:00) Intro(01:14) What depreciation really is(03:06) Brandon’s CPA and real estate background(09:20) Why assets depreciate while values rise(11:15) Straight-line depreciation explained(14:01) Leverage and real estate returns(18:42) Tax losses vs operating income(20:57) Cost segregation basics(23:07) Bonus depreciation returns in 2025(31:41) Depreciation recapture explained(46:42) The “lazy man’s” 1031 strategy(1:00:04) OutroConnect with Brandon Hall:Website: https://www.therealestatecpa.com/ Podcast: https://www.therealestatecpa.com/podcasts/ If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/ — You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/ Join our growing community on Facebook: https://www.facebook.com/groups/passivepilotsCheck us out on Instagram @PassiveIncomePilots: https://www.instagram.com/passiveincomepilots/Follow us on X @IncomePilots: https://twitter.com/IncomePilotsGet our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/Do you have questions or want to discuss this episode? Contact us at [email protected] See you on the next one!*Legal Disclaimer*The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.

Could life insurance be a better cash-flow tool than a savings account?Tait Duryea and Ryan Gibson sit down with Rod Zabriskie from Money Insights Group to break down how high cash value whole life insurance can be used as a powerful cash-flow tool for pilots and investors. They cut through the confusion around “infinite banking” and explain how properly structured policies can improve liquidity, reduce friction when investing, and add meaningful long-term returns. This episode walks through real pilot use cases, common mistakes, and why this strategy has become a quiet cornerstone for sophisticated alternative investors.Rod Zabriskie, president of the Money Insights Group, specializes in advanced wealth-building strategies using life insurance as a financial tool. With a pragmatic, education-first approach, Rod helps high-income professionals, especially pilots, understand how to leverage whole life policies for liquidity, tax advantages, and long-term returns.Show notes:(0:00) Intro(0:14) First flight in a J3 Cub(3:50) Why life insurance matters here(4:23) High cash value strategy explained(6:13) Cutting through infinite banking noise(8:06) Investment optimizer vs banking hype(11:09) Setting flexible funding ranges(13:29) Term insurance vs whole life(15:21) Using policy loans to invest(18:40) Why brokers matter for pilots(31:05) How this adds a million dollars(35:01) OutroConnect with Rod:Website: https://moneyinsightsgroup.com Youtube: https://www.youtube.com/channel/UCW0fBokwg09-2H2kXWK5ZfwRelated Episodes:#47 - Innovative Wealth Strategies: From Life Insurance to Alternative Investing with Christian Allen and Rod Zabriskie#70 - Leveraging Life Insurance for Passive Income with Rod Zabriskie and Blake Brogan#84 - Tax-Free Growth & Infinite Loans: Whole Life Insurance Strategies for High-Earners#122 - How Pilots Use Whole Life Insurance to Fund Investments with Rod ZabriskieIf you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/ — You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/ Join our growing community on Facebook: https://www.facebook.com/groups/passivepilotsCheck us out on Instagram @PassiveIncomePilots: https://www.instagram.com/passiveincomepilots/Follow us on X @IncomePilots: https://twitter.com/IncomePilotsGet our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/Do you have questions or want to discuss this episode? Contact us at [email protected] See you on the next one!*Legal Disclaimer*The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.

Are you paying for a high-powered CPA when your tax situation doesn’t actually require one?In this episode, Tait Duryea and Ryan Gibson sit down with CPA Gary Heldt to clarify what smart tax planning really looks like for high-income pilots with relatively simple financial lives. They break down how W-2 earners can optimize taxes without complex businesses, aggressive strategies, or unnecessary fees. Gary explains how often-overlooked fundamentals like benefits planning, estimated taxes, and coordinated advice can quietly compound into meaningful long-term gains. If you want clarity, confidence, and a more intentional approach to your CPA relationship, this episode delivers.Gary Heldt is a CPA, Certified Tax Coach, and founder of Small Business Advisors. With over 25 years of experience, he helps high-income professionals make better tax decisions through a consultative, family-office-style approach that prioritizes clarity over complexity.Show notes:(0:00) Intro(0:23) Why pilots overpay for CPAs(1:25) Family-office thinking for W-2 earners(3:42) Gary’s path into tax planning(8:13) Missed tax moves for W-2 professionals(11:57) What a good CPA should do(16:28) Why education beats tax prep(24:34) Bracket strategy and timing income(28:50) Estimated taxes pilots overlook(34:18) Turning tax savings into investments(43:57) OutroConnect with Gary Heldt:Sign up directly on the site. Choose personal, business, or both newsletter options: https://www.sbadvisors.cc/  Gary's Podcast: https://www.sbadvisors.cc/resources/podcasts If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/ — You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/ Join our growing community on Facebook: https://www.facebook.com/groups/passivepilotsCheck us out on Instagram @PassiveIncomePilots: https://www.instagram.com/passiveincomepilots/Follow us on X @IncomePilots: https://twitter.com/IncomePilotsGet our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/Do you have questions or want to discuss this episode? Contact us at [email protected] See you on the next one!*Legal Disclaimer*The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.

Tait Duryea and Ryan Gibson sit down with Toby Mathis to unpack one of the most misunderstood topics for high-income pilots: business structure and taxes. They explain when to use sole proprietorships, LLCs, S-corps, and C-corps, how losses and profits flow to your personal return, and why entity choice impacts audit risk and mortgage eligibility. This episode is a practical roadmap for pilots starting side hustles who want to lower taxes, protect assets, and avoid costly mistakes.Toby Mathis is a nationally recognized tax attorney, investor, and educator, best known for simplifying complex tax and asset-protection strategies for entrepreneurs and high-income professionals. He is a founding partner of Anderson Advisors, where he helps clients legally reduce taxes, structure businesses, and protect wealth. In this episode, Toby breaks down entity structures, audit risk, and practical tax strategies pilots can apply when starting or scaling a business.Show notes:(0:00) Intro(0:11) Why entity structure matters(1:40) Side hustles and W-2 tax offsets(3:01) Starting a business vs real estate(6:42) Flow-through Vs. C-corp taxation(8:49) Mortgage qualification pitfalls(11:38) Legitimate expense strategies(15:00) Augusta rule and home office(21:48) Why sole proprietors get audited(28:25) Profit Vs. Loss by entity type(41:20) Schedule C Vs. Schedule E risk(56:14) OutroConnect with Toby Mathis:Website: https://tobymathis.com/ YouTube: https://www.youtube.com/channel/UCX5nh607M8hSBLiMB9MgbIQ Books: https://www.amazon.com/Tax-Wise-Business-Ownership-Toby-Mathis/dp/0979786002 Tax Tuesday: https://andersonadvisors.com/tax-tuesdays/If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/ — You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/ Join our growing community on Facebook: https://www.facebook.com/groups/passivepilotsCheck us out on Instagram @PassiveIncomePilots: https://www.instagram.com/passiveincomepilots/Follow us on X @IncomePilots: https://twitter.com/IncomePilotsGet our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/Do you have questions or want to discuss this episode? Contact us at [email protected] See you on the next one!*Legal Disclaimer*The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.

Tait Duryea and Ryan Gibson close out 2025 by pulling back the curtain on how high performers actually plan, execute, and stay intentional across money, business, and family life. From Spartan’s acquisition pace and Turbine’s investor roadmap to family board meetings, goal frameworks, and habit formation, this episode offers a grounded look at what it takes to build momentum year after year. If you want clarity instead of drift and action instead of resolutions, this conversation sets the tone for a focused, intentional 2026. Do not just listen. Decide who you are becoming and move.Show notes:(0:00) Intro(2:27) Family board meetings explained(4:32) Objectives and key results framework(6:29) Spartan’s 2025 growth numbers(9:29) Turning big ideas into action(12:21) Why most people never get clear(15:49) Day one Vs. One day mindset(18:40) Stability, mentorship, and leadership(21:02) Why 2026 looks like opportunity(23:36) OutroIf you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/ — You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/ Join our growing community on Facebook: https://www.facebook.com/groups/passivepilotsCheck us out on Instagram @PassiveIncomePilots: https://www.instagram.com/passiveincomepilots/Follow us on X @IncomePilots: https://twitter.com/IncomePilotsGet our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/Do you have questions or want to discuss this episode? Contact us at [email protected] See you on the next one!*Legal Disclaimer*The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.

What if managing rentals like an institution is the key to higher returns and less stress?Hosts Tait Duryea and Ryan Gibson talk with Matthew Whitaker, founder of Evernest, about scaling property management with systems, data, and AI. From HELOC-driven growth to managing 20,000 homes nationwide, this conversation breaks down why professional operations, fraud prevention, and institutional discipline can transform single-family and small multifamily investing for pilots.Matthew Whitaker is the founder of Evernest, a nationwide property management platform serving over 20,000 rental homes across 50 markets. A former single-family investor who scaled through multiple market cycles, Matthew now focuses on applying institutional systems, data, and AI to professionalize rental operations and reduce friction for real estate investors.Show notes:(0:00) Intro(0:19) Why property management changes everything(1:22) From 30 homes to 20,000 doors(5:03) Using HELOCs to scale real estate(10:32) Why paying off your house isn’t safer(16:23) Inside Evernest’s national platform(18:21) Tenant fraud and underwriting risks(22:12) Why in-house maintenance lowers costs(31:21) AI predicting repairs and NOI(34:10) Institutional systems for small rentals(46:07) How to work with Evernest(47:14) OutroConnect with Matthew Whitaker:Website: https://www.evernest.co/ —If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/ — You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/ Join our growing community on Facebook: https://www.facebook.com/groups/passivepilotsCheck us out on Instagram @PassiveIncomePilots: https://www.instagram.com/passiveincomepilots/Follow us on X @IncomePilots: https://twitter.com/IncomePilotsGet our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/Do you have questions or want to discuss this episode? Contact us at [email protected] See you on the next one!*Legal Disclaimer*The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.

Tait Duryea and Ryan Gibson sit down with Mat Sorensen of Directed IRA to tackle one of the most common investor questions: Who do you actually trust when investing in alternative assets? The conversation breaks down how to vet operators, assess risk, understand leverage, and use self-directed retirement accounts responsibly. Mat shares real-world insight from seeing thousands of deals flow through his firm, explains why advisors often avoid alternatives, and outlines practical rules for due diligence, alignment, and saying no to bad opportunities.Mat Sorensen is a nationally recognized authority on self-directed retirement investing and the CEO of Directed IRA. A tax and business attorney with over 20 years of experience, Mat has helped thousands of investors use IRAs and 401(k)s to invest in alternative assets like real estate, private equity, and startups. He is the author of The Self-Directed IRA Handbook and co-hosts educational events and podcasts focused on empowering investors to take control of their retirement capital.Show notes:(0:00) Intro(0:29) Understanding investment risk(4:54) What custodians do and don’t do(6:01) Why advisors avoid alternatives(9:09) How wealthy investors allocate capital(13:55) What you pay a self-directed custodian for(18:16) The “bring your own deal” reality(25:05) Identifying an operator’s real edge(33:07) Debt as the biggest risk factor(48:28) Learning when to say no(51:57) OutroConnect with Mat Sorensen:Website: https://directedira.com/ YouTube: https://www.youtube.com/@MatSorensen/videos Learn more about: Alternative Asset Investor Summit - https://altassetsummit.com/ Episodes Mentioned:1. #124 - $44 Trillion and the Future of Retirement Investing with Mat Sorensen2. #110 - The IRA Club Advantage: The Self-Directed IRA Strategy for Pilots with Ramez Fakhoury 3. #36 - Decoding the Untapped Potential and Complex World of Self-Directed IRAs with Derreck Long  4. #9 - Demystifying IRAs: Transfers Vs. Rollovers with Carrie Cook —If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/ — You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/ Join our growing community on Facebook: https://www.facebook.com/groups/passivepilotsCheck us out on Instagram @PassiveIncomePilots: https://www.instagram.com/passiveincomepilots/Follow us on X @IncomePilots: https://twitter.com/IncomePilotsGet our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/Do you have questions or want to discuss this episode? Contact us at [email protected] *Legal Disclaimer*The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.

Clarity and control for the wealth you’re building. Tait Duryea and Ryan Gibson sit down with asset protection expert Adam Kintigh for his third appearance to break down one of the most misunderstood pieces of a pilot’s financial plan: the revocable living trust. Discover how to structure your trust, avoid probate disasters, protect your heirs from creditors, ensure your wealth goes where you intend, and understand the real difference between revocable and irrevocable trusts. If you've ever wondered how to secure your legacy and prevent costly mistakes, this episode is essential listening for pilots building serious wealth. Adam Kintigh is an asset protection and estate planning expert at Nevada Corporate Headquarters. He builds trusts, LLC structures, and multigenerational plans for high-income earners, including many pilots, helping them safeguard their wealth and protect their families. In this episode, he breaks down revocable trusts, probate pitfalls, creditor risks, and practical estate planning strategies.Show notes:(0:00) Intro(0:34) Why pilots must understand trusts(1:00) Adam returns for his third episode(6:25) Will Vs. Trust explained(8:52) The true cost of probate(10:21) Spendthrift protections for children(13:32) When irrevocable trusts matter(17:41) How to design a wealth roadmap(25:48) Who actually comes after your estate(39:00) How to correctly fund your trust(51:07) Why trust naming protects privacy(55:50) OutroConnect with Adam Kintigh:Email Adam at: [email protected] and mention Passive Income Pilots to get started Website: https://nchinc.com Episodes Mentioned:1. #114 - Trusts, Taxes & Transfers: What Every Investor Should Know with Amanda Wynalda: https://passiveincomepilots.com/episode/114-trusts-taxes-transfers-what-every-investor-should-know-with-amanda-wynalda 2. #119 - LLCs, Trusts, and Bulletproof Asset Protection with Adam Kintigh: https://passiveincomepilots.com/episode/119-llcs-trusts-and-bulletproof-asset-protection-with-adam-kintigh 3. #127 - LLCs, Trusts, and K-1s: Smarter Asset Protection with Adam Kintigh: https://passiveincomepilots.com/episode/127-llcs-trusts-and-k-1s-smarter-asset-protection-with-adam-kintigh Learn more about: NCH Consultation for Passive Income Pilots Investors: https://calendly.com/nchconsultation/nch-consultation-for-pipp?month=2025-12 —If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/  — You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/ Join our growing community on Facebook: https://www.facebook.com/groups/passivepilotsCheck us out on Instagram @PassiveIncomePilots: https://www.instagram.com/passiveincomepilots/Follow us on X @IncomePilots: https://twitter.com/IncomePilotsGet our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/Do you have questions or want to discuss this episode? Contact us at [email protected] *Legal Disclaimer*The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.

Are you using the exit strategies that actually work in this market?Hosts Tait Duryea and Ryan Gibson talk with seasoned investor and author Leka Devatha to pull back the curtain on what’s real and what’s not in flipping, reality TV, and today’s housing market. Get ready to uncover the truth behind her Amazon Prime episode, learn the creative strategies inside her new book Return on Real Estate, and discover how investors can win even when the market slows. From mid-term rentals to ADUs, conservative underwriting, and Seattle’s shifting landscape, this episode gives pilots practical insights they can apply anywhere.Leka Devatha is a Seattle real estate investor, developer, luxury broker, and author with over $100M in completed projects. She’s known for her Amazon Prime flipping episode, her high-growth investor meetup, and her BiggerPockets book Return on Real Estate. Leka specializes in creative, practical strategies that help investors build equity, cash flow, and resilience in shifting markets.Show notes:(0:00) Intro(3:38) What’s real and fake about TV house flips(5:01) Leka’s $100M real estate journey(7:05) Lessons hidden inside the “fake flip”(8:38) How her book Return on Real Estate is structured(11:43) How she underwrites deals in today’s market(13:54) Why buyers are picky and inventory patterns(21:09) Seattle trends, taxes, tech workers, and investor behavior(27:21) Leka’s favorite “adventure” strategy(36:13) What mid-term rentals really are and who rents them(41:20) OutroConnect with Leka Devatha:LinkedIn: https://www.linkedin.com/in/leka-devatha-5616bb185/  IG: https://www.instagram.com/leka_devatha/?hl=en Return on Real Estate by Leka Devatha: https://www.amazon.com/Return-Real-Estate-Agility-Maximize/dp/1960178792 Leka’s flipping episode:  “Million Dollar Zombie Flip” on Amazon Prime (search Amazon Prime for the show title)Join Leka’s investor community: Real Estate at Work (Seattle meetup) - https://www.meetup.com/realestateatwork/?utm= —If you’re interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/ — You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/ Join our growing community on Facebook: https://www.facebook.com/groups/passivepilotsCheck us out on Instagram @PassiveIncomePilots: https://www.instagram.com/passiveincomepilots/Follow us on X @IncomePilots: https://twitter.com/IncomePilotsGet our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/Do you have questions or want to discuss this episode? Contact us at [email protected] See you on the next one!*Legal Disclaimer*The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.