In a large skillet over medium heat, brown the ground beef, breaking up clumps as it cooks, for 4 to 5 minutes.
Drain any excess grease off the meat and set aside the cooked beef.
To the same pan, add the onions and cook, stirring regularly for 2 to 3 minutes.
Return the ground beef to the pan and add in the taco seasoning, salt, pepper, and garlic powder. Stir to combine.
Add in the tomato sauce, salsa, beef stock, water, and rice. Stir to combine.
Bring the mixture to a boil over medium heat then reduce the heat to low, cover, and simmer for 18 to 20 minutes or until the rice is cooked and the liquid is absorbed.
Remove from heat and sprinkle the shredded cheddar cheese on top.
Cover the pan again and let it sit for 5 to 10 minutes or until the cheese is melted.
Serve hot and enjoy!