Know Your Numbers with Chris McCormack: Recent Episodes
Chris McCormack
Know Your Numbers is your one stop shop business ownership, wealth building and personal finance show.
Chris is a CPA, real estate investor and owner of Better Books Accounting - an accounting and bookkeeping firm on a mission to bring wealth building strategies and knowledge to those who need it most.
Be sure to visit our website betterbooksaccounting.co
Connect with Chris on Facebook: Chris McCormack
Follow Chris on Instagram: @chris_mccormack__
Connect on LinkedIn: Chris McCormack CPA, MBA
In this episode of the Know Your Numbers REI podcast, host Chris McCormack welcomes special guest Jennifer Aube, a Certified Financial Planner, Certified Kingdom Advisor, and Chartered Financial Consultant who combines financial expertise with a deep passion for faith-driven leadership. She is pursuing her PhD in Organizational Leadership, where she focuses on leadership, followership, and organizational culture on a practical scale.
With years of experience in financial planning and consulting, she thrives on guiding individuals and families to align their money with their values and purpose. Jennifer is also the author of Naked Wealth, a book that helps readers uncover their financial story and establish a strong foundation for stewardship and financial decision-making.
Join Jennifer as she dives deep into the biblical perspective on money and what true stewardship really means. Discover how faith connects with financial planning across every stage of life, from building a foundation in your early years to managing wealth with wisdom later on. She also breaks down common money habits, explains the purpose of different financial tools, and shares practical insights on how to handle financial challenges within relationships.
Whether you're navigating budgeting as a couple, planning for the future, or simply seeking to align your finances with your faith, this discussion offers valuable lessons and real-life guidance you won’t want to miss! This episode is a valuable resource for anyone looking to align their financial decisions with their faith and long-term goals.
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To connect with Jennifer, visit her Social Media Platforms:
Facebook: https://www.facebook.com/JenniferAubeWealthManagement/
Instagram: https://www.instagram.com/jenniferwaube/?hl=en
Website: https://www.jenniferaube.com/
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➤➤➤ To become a client, schedule a call with our team
➤➤ https://www.betterbooksaccounting.co/contact
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chrismccormackcpa
LinkedIn: https://www.linkedin.com/in/chrismccormackcpa
Instagram: https://www.instagram.com/chrismccormackcpa
Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
→ → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←
https://www.youtube.com/@chrismccormackcpa
The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome back to the Know Your Numbers, REI podcast with your host Chris McCormack, the founder of Better Books. In this episode, Chris discusses the importance of understanding tax deductions, wrapping up a seven-part series on significant tax-saving strategies.
Chris dives deep into the intricacies of tax deductions, how to maximize them, and common mistakes people make that lead to overpaying. He covers entity structuring, retirement planning, income sources, and the legal perspectives of ordinary and necessary expenses.
Get ready to rethink your approach to taxes creatively and strategically.
God bless you, and keep moving forward!
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➤➤➤ To become a client, schedule a call with our team
➤➤ https://www.betterbooksaccounting.co/contact
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chrismccormackcpa
LinkedIn: https://www.linkedin.com/in/chrismccormackcpa
Instagram: https://www.instagram.com/chrismccormackcpa
Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
→ → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←
https://www.youtube.com/@chrismccormackcpa
The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, host Chris McCormack continues the series on the seven deadly tax traps that entrepreneurs often fall into.
Today, we dive into the often-overlooked benefits of using life insurance as a supplement to your retirement plan. As many business owners and real estate investors find themselves phased out of tax-advantaged accounts like Roth IRAs due to income limits, life insurance can provide a viable alternative for tax-free wealth accumulation.
Join us as we explore how life insurance can not only protect your loved ones but also help you build a tax-free nest egg for the future.
Don't forget to follow to our channel and share this episode with friends who could benefit from understanding the tax advantages of life insurance.
Stay tuned for our next episode, where we'll wrap up our series by discussing often-missed expenses that can lead to significant tax costs.
God bless you, and keep moving forward!
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➤➤➤ To become a client, schedule a call with our team
➤➤ https://www.betterbooksaccounting.co/contact
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chrismccormackcpa
LinkedIn: https://www.linkedin.com/in/chrismccormackcpa
Instagram: https://www.instagram.com/chrismccormackcpa
Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
→ → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←
https://www.youtube.com/@chrismccormackcpa
The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
In this episode of the Know Your Numbers REI podcast, host Chris McCormack dives deep into the often-overlooked topic of tax traps that many Americans, especially business owners and real estate investors, fall into.
Are you doing your own taxes? You might think you're saving money, but you could be missing out on significant tax savings and opportunities. Chris explains the crucial difference between tax preparation and tax planning, emphasizing that while filing taxes is necessary for compliance, it often leads to overpaying.
Join us as Chris shares a compelling case study of a high-earning executive who saved $50,000 in his first year of working with a tax strategist. Learn about the importance of year-round tax planning, the common mistakes people make when filing their own taxes, and how to optimize your tax strategy for greater wealth accumulation.
Whether you're a business owner, real estate investor, or a high-wage earner, this episode is packed with valuable insights that can help you keep more money in your pocket and reduce your tax burden.
If you find value in this episode, please give us a five-star rating, follow, and share it with friends who could benefit from these insights.
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➤➤➤ To become a client, schedule a call with our team
➤➤ https://www.betterbooksaccounting.co/contact
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chrismccormackcpa
LinkedIn: https://www.linkedin.com/in/chrismccormackcpa
Instagram: https://www.instagram.com/chrismccormackcpa
Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
→ → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←
https://www.youtube.com/@chrismccormackcpa
The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, host Chris McCormack, a CPA and certified tax planner, dives deep into the critical topic of entity structuring for business owners and real estate investors.
Are you aware of the tax traps that could be costing you thousands? Chris discusses the importance of setting up the right entity structure to protect your assets and maximize tax efficiency. He shares real-life examples, including a case study of an investor who operated a seven-figure real estate business under his personal name, exposing himself to significant liability and tax inefficiencies.
If you're a business owner or real estate investor looking to optimize your tax strategy, this episode is packed with valuable insights you won't want to miss!
Don't forget to follow to our channel for more episodes on tax planning and financial strategies. If you find this episode helpful, share it with a friend who could benefit from this information!
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➤➤➤ To become a client, schedule a call with our team
➤➤ https://www.betterbooksaccounting.co/contact
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chrismccormackcpa
LinkedIn: https://www.linkedin.com/in/chrismccormackcpa
Instagram: https://www.instagram.com/chrismccormackcpa
Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
→ → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←
https://www.youtube.com/@chrismccormackcpa
The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, host Chris McCormack dives into the third of seven costly tax mistakes that many real estate investors and business owners make: ignoring depreciation.
Chris, a CPA and certified tax planner, explains how leveraging depreciation can significantly reduce your tax burden and enhance your investment returns. He shares real-life examples, including a case where a couple missed out on a $160,000 tax benefit due to improper depreciation practices.
If you're a real estate investor or a business owner looking to optimize your tax strategy, this episode is packed with valuable insights and actionable steps. Don't forget to follow and leave a review to help others discover the podcast!
Stay tuned for more episodes as we continue to explore the most costly tax mistakes and how to avoid them. God bless you, and keep moving forward!
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➤➤➤ To become a client, schedule a call with our team
➤➤ https://www.betterbooksaccounting.co/contact
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chrismccormackcpa
LinkedIn: https://www.linkedin.com/in/chrismccormackcpa
Instagram: https://www.instagram.com/chrismccormackcpa
Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
→ → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←
https://www.youtube.com/@chrismccormackcpa
The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome back to the Know Your Numbers REI podcast! In this episode, host Chris McCormack dives into the second costly mistake people make regarding their taxes: treating a brokerage account like a retirement plan.
Join us as we explore the implications of investing in brokerage and cryptocurrency accounts without considering the tax consequences. Chris shares personal experiences and insights from clients to highlight the importance of understanding how taxes can impact your investment returns.
Learn about more tax-friendly alternatives, such as Roth IRAs and cash value life insurance, that can help you maximize your savings and minimize your tax burden. Discover how proper planning can lead to greater peace of mind and financial security in retirement.
If you find this episode valuable, please share it with friends and leave us a five-star rating and review! Don't forget to follow our Spotify and Apple podcast channel for more weekly content.
Stay tuned for next week's episode, where we'll continue our discussion on the seven costly tax mistakes, focusing on real estate-specific strategies.
God bless you and keep moving forward!
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➤➤➤ To become a client, schedule a call with our team
➤➤ https://www.betterbooksaccounting.co/contact
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chrismccormackcpa
LinkedIn: https://www.linkedin.com/in/chrismccormackcpa
Instagram: https://www.instagram.com/chrismccormackcpa
Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
→ → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←
https://www.youtube.com/@chrismccormackcpa
The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, host Chris McCormack dives into the first part of a new series focused on the seven areas where people often overpay in taxes. Discover how to be more strategic in your financial approach and learn about common tax mistakes that could be costing you thousands.
Chris shares insights on how different income types are taxed, comparing high-income earners with W-2 income to those who leverage investments and strategic planning to minimize their tax burden. He discusses real-life examples, including a high-level executive and a savvy investor, to illustrate how tax planning can lead to significant savings.
Whether you're a business owner, entrepreneur, or high-income earner, this episode is packed with valuable information to help you lower your tax liability and build wealth.
Don't forget to follow for more insights on taxes, finances, and wealth-building strategies!
Tune in next week for Part 2 of our series on the biggest tax mistakes that could be costing you money!
God bless you, and keep moving forward!
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➤➤➤ To become a client, schedule a call with our team
➤➤ https://www.betterbooksaccounting.co/contact
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chrismccormackcpa
LinkedIn: https://www.linkedin.com/in/chrismccormackcpa
Instagram: https://www.instagram.com/chrismccormackcpa
Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
→ → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←
https://www.youtube.com/@chrismccormackcpa
The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, host Chris McCormack, founder of Better Books, dives deep into the often-overlooked benefits of insurance from a tax perspective.
Are you an entrepreneur, investor, or business owner feeling overwhelmed by taxes and accounting? Chris shares valuable insights on how to turn insurance from a mere expense into a powerful financial tool. Discover how cash value life insurance and captive insurance can help you save thousands in taxes, protect your assets, and even transfer wealth tax-free to your beneficiaries.
Whether you're just starting out or looking to optimize your financial strategy, this episode is packed with actionable advice to help you navigate the complexities of insurance and taxes.
Don't forget to follow for more insights on managing your finances and reducing your tax burden!
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➤➤➤ To become a client, schedule a call with our team
➤➤ https://www.betterbooksaccounting.co/contact
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chrismccormackcpa
LinkedIn: https://www.linkedin.com/in/chrismccormackcpa
Instagram: https://www.instagram.com/chrismccormackcpa
Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
→ → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←
https://www.youtube.com/@chrismccormackcpa
The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
In this episode of the Know Your Numbers, REI podcast, host Chris McCormack delves into the recent changes in tax laws and their implications on tax brackets. Chris discusses the importance of planning and strategizing around taxes to avoid unnecessary burdens, especially given the new permanent lower tax brackets.
This episode offers a detailed explanation of how progressive tax systems work, examines the specific tax brackets for both single and married filers for 2025, and explores the benefits of tax planning for business owners and individuals. Chris emphasizes the significance of working with a knowledgeable CPA or tax planner to optimize tax savings and align financial strategies with personal goals.
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➤➤➤ To become a client, schedule a call with our team
➤➤ https://www.betterbooksaccounting.co/contact
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chrismccormackcpa
LinkedIn: https://www.linkedin.com/in/chrismccormackcpa
Instagram: https://www.instagram.com/chrismccormackcpa
Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
→ → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←
https://www.youtube.com/@chrismccormackcpa
The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI podcast! In this episode, host Chris McCormack, founder of Better Books and a certified tax planner, dives deep into the recently passed law regarding Qualified Small Business Stock (QSBS) and its implications for small business owners and investors.
Whether you're a small business owner contemplating a sale or an investor looking to maximize your returns, this episode is packed with valuable insights and strategies to help you navigate the complexities of tax planning.
Don't miss out on this opportunity to learn how to keep more money in your pocket and reinvest in your future!
Follow for more episodes and insights on tax strategies and real estate investing. If you have questions or need personalized advice, reach out to us at Better Books!
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➤➤➤ To become a client, schedule a call with our team
➤➤ https://www.betterbooksaccounting.co/contact
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chrismccormackcpa
LinkedIn: https://www.linkedin.com/in/chrismccormackcpa
Instagram: https://www.instagram.com/chrismccormackcpa
Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
→ → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←
https://www.youtube.com/@chrismccormackcpa
The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
In this episode of the Know Your Numbers REI podcast, host Chris McCormack dives deep into the recent changes in U.S. tax law following the passage of a significant piece of legislation on July 4, 2025. This episode focuses on two crucial sections—70301 and 70302—pertaining to full expensing of business property and immediate expensing of research and development costs.
Chris explains how the reinstatement of 100% bonus depreciation for business property is a game-changer for real estate investors and business owners. He discusses the implications of this law, including how it allows for significant tax savings and strategic planning opportunities. Additionally, he highlights the new provisions for startups, enabling them to fully expense their research and development costs in the year they are incurred, rather than amortizing them over 15 years.
Whether you're a real estate investor, a business owner, or an entrepreneur, this episode is packed with valuable insights on how to leverage these tax changes to grow your wealth and reduce your tax burden.
If you find value in this episode, please leave us a review, follow us on Spotify, and share it with anyone who could benefit from understanding these tax changes.
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➤➤➤ To become a client, schedule a call with our team
➤➤ https://www.betterbooksaccounting.co/contact
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chrismccormackcpa
LinkedIn: https://www.linkedin.com/in/chrismccormackcpa
Instagram: https://www.instagram.com/chrismccormackcpa
Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
→ → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←
https://www.youtube.com/@chrismccormackcpa
The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, host Chris McCormack, a CPA and certified tax planner, dives deep into the newly signed tax law, including the exciting introduction of "Trump accounts."
Join us as we explore how these accounts serve as a new wealth-building tool for families, business owners, and everyday Americans. Learn about the benefits of tax-deferred growth, government contributions, and how these accounts can be accessed by children as they grow.
Whether you're a high-income earner, a business owner, or simply looking for ways to invest strategically, this episode is packed with valuable insights to help you navigate the complexities of the tax code and build a prosperous future for your family.
Don't forget to share this episode with anyone who could benefit from understanding these new tax laws!
Tune in now and start planning for a brighter financial future!
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
In this episode of the Know Your Numbers REI podcast, host Chris McCormack, CPA, MBA, dives into the strategies for legally beating the IRS and maximizing tax savings, regardless of your income level. Drawing from his experience at PwC, a leading global accounting firm, Chris emphasizes that you don't need to be a millionaire to benefit from the same tax strategies employed by wealthy individuals. He shares insights on how entrepreneurs, business owners, and real estate investors can eliminate the fears and frustrations surrounding taxes and accounting.
Tune in to learn how to leverage these strategies to save thousands on your taxes and gain a better understanding of your financial landscape.
Don't forget to leave a comment and follow for more insights on real estate investing and tax planning!
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
In this episode of the Know Your Numbers REI podcast, host Chris McCormack discusses the critical importance of having a year-round tax plan for real estate investors and entrepreneurs. He emphasizes that waiting until tax season to address taxes is far too late, especially for those making six or seven figures.
Chris outlines the four pillars of real estate investment: cash flow, appreciation, tax planning, and equity. He encourages listeners to think of their tax strategy as integral to their investment decisions, akin to planning their next deal!
Tune in to learn how to better manage your tax strategy throughout the year and maximize your investment potential!
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Connect with Chris McCormack on Social Media
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, your host Chris McCormack, founder of Better Books and a Certified Tax Planner, dives deep into the latest tax changes and implications that could affect you as a business owner, investor, or real estate professional.
Join Chris as he discusses the recent big bill making its way through Congress, focusing on what tax benefits are being removed, particularly those related to clean energy credits that were introduced during the previous administration. He breaks down the termination of various clean vehicle credits, commercial clean vehicle credits, and alternative fuel vehicle refueling property credits, explaining how these changes could impact your tax strategy moving forward.
Stay informed about the evolving tax landscape and learn how to navigate these changes effectively. Chris emphasizes the importance of having a knowledgeable tax strategist in your corner to help you make the best financial decisions for your future.
Don't miss this insightful episode packed with valuable information to help you save on taxes and grow your business!
Follow to the Know Your Numbers REI Podcast for more insights on tax strategies and real estate investing!
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Connect with Chris McCormack on Social Media
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, host Chris McCormack dives deep into the latest developments surrounding the proposed "one big beautiful bill" currently making its way through the Senate.
Join us as we explore the implications of the 2017 Tax Cuts and Jobs Act, focusing on key provisions like Bonus Depreciation and Opportunity Zones that could significantly impact real estate investors and taxpayers alike.
Whether you're a seasoned investor or just starting out, this episode is packed with valuable information to help you navigate the ever-changing tax landscape. Don't forget to like, follow, and leave us a review if you find this content helpful!
Thank you for tuning in, and let's keep moving forward together!
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Connect with Chris McCormack on Social Media
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
In this episode of the Know Your Numbers REI podcast, host Chris McCormack, a CPA and certified tax planner, dives into the latest tax news and insights that affect entrepreneurs, real estate investors, and business owners. Chris discusses the implications of the "one big beautiful bill," which is currently under consideration in the Senate, highlighting key tax provisions that could impact listeners.
He emphasizes the importance of proactive tax planning to help reduce stress and improve cash flow for business owners. Tune in as Chris unpacks potential changes to federal and state income taxes, payroll taxes, and more, providing valuable information to help you make informed financial decisions.
If you find value in this episode, please leave us a five-star rating and review! Don't forget to follow to our channel for more insights and updates on tax strategies that can benefit you and your business.
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Connect with Chris McCormack on Social Media
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, host Chris McCormack dives deep into the latest developments in tax law, specifically focusing on the Section 199A deduction, also known as the Qualified Business Income (QBI) deduction.
Whether you're a seasoned business owner or just starting out, this episode is packed with valuable insights to help you navigate the complexities of tax law and make informed decisions for your financial future.
Don't forget to like, follow, and share this episode with anyone who could benefit from understanding these important tax changes!
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Connect with Chris McCormack on Social Media
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, host Chris McCormack, CPA, Certified Tax Planner, and founder of Better Books Accounting, dives deep into the implications of the 2017 Tax Cuts and Jobs Act for real estate investors.
As we approach the expiration of key provisions in this tax act, Chris discusses the potential changes in tax brackets, bonus depreciation, and capital gains tax rates that could significantly impact your bottom line. He emphasizes the importance of proactive tax planning and staying informed about current tax laws to make confident decisions regarding your investments.
Whether you're considering selling a property, refinancing your rental portfolio, or simply looking to optimize your tax strategy, this episode is packed with valuable insights and actionable advice.
Don't miss out on this essential information that could shape your financial future!
Follow to the Know Your Numbers REI Podcast for more insights on real estate investing and tax planning!
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Connect with Chris McCormack on Social Media
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, host Chris McCormack, a Certified Tax Planner and CPA, dives deep into the importance of proactive tax planning for real estate investors and business owners.
Are you feeling overwhelmed by your tax situation? You're not alone! Many entrepreneurs struggle with the complexities of the tax code, leading to confusion and anxiety about their tax bills. Chris shares valuable insights on how to take control of your tax strategy and avoid the pitfalls of reactive tax filing.
Don't wait until tax season to think about your tax strategy! Tune in to discover how you can save money and gain peace of mind by taking action now.
If you find this episode helpful, please like, share, and follow for more insights on tax planning and real estate investing.
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chrismccormackcpa
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Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
In this episode of the Know Your Numbers REI podcast, host Chris McCormack welcomes special guest Rachel Wortman, author of "The Money Mandate" and three other books. Rachel shares her inspiring journey of moving to Oklahoma City to plant a church and how a pivotal moment led her and her husband to embrace a bivocational lifestyle.
Rachel and her husband, Grant, manage 3 real estate-related businesses under the Wortman INC brand, including Chamberlain Realty in Oklahoma City. Their real estate brokerage is the second largest in Oklahoma City. They are home to more than 340 real estate agents who have helped them amass over 2.5 billion dollars in sales volume over the last 8 years. She now coaches Kingdom Leaders who desire to harness their potential, unlock their anointing, and build a life of true wealth!
Whether you're an entrepreneur, a business owner, or someone looking to deepen your understanding of faith and finances, this episode is packed with valuable insights on faith, entrepreneurship, and the impact of financial literacy in their lives.. Don't miss out!
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To connect with Rachel Wortman, visit her Social Media Platforms:
Facebook: https://www.facebook.com/profile.php?id=100063676208432
Instagram: https://www.instagram.com/rachelwortman/
LinkedIn: https://www.linkedin.com/in/rachel-wortman-4597aa202/
Website: https://rachelwortman.com/
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Connect with Chris McCormack on Social Media:
Facebook: https://www.facebook.com/chrismccormackcpa
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Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, host Chris McCormack sits down with entrepreneur Martha Picciao, who shares her inspiring journey from a single mom running a home daycare to building a multi-location daycare business with over 150 employees and 500 students.
Martha discusses the challenges she faced along the way, including the importance of understanding her numbers and making data-driven decisions. She reflects on her early experiences in the childcare industry, the pivotal moments that led to her business's growth, and the lessons learned about risk-taking and financial management.
Join us as Martha shares her insights on entrepreneurship, the role of faith in her journey, and her new venture into business coaching, where she aims to help other entrepreneurs break through their ceilings and achieve their goals.
Whether you're an aspiring entrepreneur or looking to scale your business, this episode is packed with valuable lessons and inspiration. Don't forget to follow, share, leave a five star rating and review!
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To connect with Martha Picciao, visit her Social Media Platforms:
Instagram: https://www.instagram.com/theteawithmartha/
LinkedIn: https://www.linkedin.com/in/martha-picciao
Website: https://marthapicciao.com/
X: https://x.com/MsMarthaPWK
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Connect with Chris McCormack on Social Media:
Facebook: https://www.facebook.com/chrismccormackcpa
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Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
→ → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, host Chris McCormack, CPA, MBA, and certified tax planner, dives deep into the world of tax strategies that can benefit everyone, regardless of income level.
Are you an entrepreneur, business owner, or real estate investor feeling overwhelmed by taxes? Chris shares his journey from working at PwC, one of the largest accounting firms, to founding Better Books Accounting, where he helps clients navigate the complexities of taxes and accounting.
Join us as we dispel the myth that tax planning is only for the wealthy and empower you to take control of your financial future.
Don't forget to follow, leave a five-star rating and review for more insights on real estate investing and tax planning!
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chrismccormackcpa
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Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
→ → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, host Chris McCormack, founder of Better Books and certified tax planner, dives deep into the importance of year-round tax planning for real estate investors and entrepreneurs.
Are you only thinking about taxes once a year? It’s time to change that mindset! Chris outlines the four key pillars of real estate investment: cash flow, appreciation, leverage, and tax savings. He emphasizes that your tax plan should be as crucial as finding your next deal, especially if you're making six or seven figures.
Join us as Chris breaks down a quarterly tax planning strategy that can save you tens of thousands of dollars. Whether you're a seasoned investor or just starting out, this episode is packed with actionable insights to help you take control of your tax situation and maximize your financial success.
Don't forget to follow, leave a review, and share this episode with friends who could benefit from smarter tax planning!
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, host Chris McCormack, CPA, MBA, and founder of Better Books, dives deep into the topic of tax extensions. If you or someone you know has filed for an extension, this episode is a must-listen!
Chris explains what it means to file an extension, addressing common questions such as whether it's a good or bad decision. He emphasizes the key aspects that individuals should have in order when filing an extension and highlights what can wait until later. With a mission to eliminate frustration surrounding taxes and bookkeeping for entrepreneurs and real estate investors. Chris shares valuable insights drawn from his experience at PwC and his journey in founding Better Books. Tune in to gain a clearer understanding of tax extensions and how they can impact your financial strategy.
Download Our Free Interest Calculator, to help you understand the potential interest you may owe if you filed an extension, we’re offering a free interest calculator. This tool will estimate how much interest you could be paying based on your income and tax obligations.
If you find value in this episode, please share it with a friend! Don’t forget to follow our Spotify channel and follow us on social media for more tips on managing your business finances.
Thank you for tuning in, and remember: understanding your numbers is key to financial success!
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, host Chris McCormack, CPA and Certified Tax Planner, dives deep into the booming short-term rental industry and the unique tax-saving opportunities it presents for investors.
Are you an Airbnb or VRBO host? You might be sitting on hidden tax savings! Chris discusses how to legally minimize your tax bill, avoid self-employment tax, and maximize deductions. Learn about the tax-free rental loophole, depreciation strategies, and essential expenses you can deduct to optimize your tax situation.
Join us as we explore real-life examples, including a client who saved over $50,000 in taxes through strategic planning. Whether you're a high-income earner or just starting in real estate, this episode is packed with valuable insights to help you navigate the complexities of short-term rental taxes.
Don't forget to follow for more insights on real estate investing and tax strategies! If you have questions or topics you'd like us to cover, reach out on Instagram, Facebook, or join our Facebook group, "Tax and Accounting for Real Estate Investors."
Listen now and start saving on your taxes today!
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Connect with Chris McCormack on Social Media
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, your host Chris McCormack, a certified tax planner, dives in to five essential tax strategies that every real estate agent should know.
Are you a real estate agent or thinking about becoming one? This episode is packed with valuable insights that could save you thousands of dollars on your taxes. Chris shares his expertise on how many agents overpay due to a lack of understanding of the tax code and offers practical solutions to help you keep more of your hard-earned money.
Chris also shares a success story of a client who saved over $70,000 by implementing these strategies. Whether you're a seasoned professional or just starting out, this episode is a must-watch for anyone in the real estate industry.
Don't miss out on these actionable tips that can transform your approach to taxes and help you serve your clients better while keeping more money in your pocket!
👉 Connect with Chris for a free consultation and start your journey towards smarter tax planning!
Follow to our channel for more insights and strategies on real estate investing and tax planning. Until next time, God bless you and keep moving forward!
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Connect with Chris McCormack on Social Media
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to another episode of the Know Your Numbers REI podcast! In this episode, your host Chris McCormack, CPA and Certified Tax Planner, dives deep into the world of tax strategy for real estate investors, entrepreneurs, and business owners.
Are you tired of feeling overwhelmed by high tax bills? Chris discusses how the wealthy leverage tax planning to keep more of their hard-earned money. Discover the secrets behind why individuals like Warren Buffett, Robert Kiyosaki, and Donald Trump pay lower taxes and how you can apply these strategies to your own financial situation.
If you're ready to take control of your taxes and build wealth, this episode is for you! Don't forget to follow for more insights and strategies to help you succeed in your financial journey.
Free Consultation Offer: Chris is offering a free one-hour consultation to review your past two years of tax returns and identify missed opportunities. Check the link in the show notes to schedule your session!
Listen to the full episode now and start your journey towards smarter tax planning!
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Connect with Chris McCormack on Social Media
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, host Chris McCormick dives deep into the critical topic of tax planning, especially relevant as we navigate tax season.
Are you a business owner or real estate investor who only thinks about taxes at year-end? If so, you might be leaving thousands—if not hundreds of thousands—of dollars on the table! Chris discusses the costly mistakes many make by waiting until tax season to address their tax strategies and shares actionable solutions to help you save money throughout the year.
Whether you're a seasoned investor or just starting out, this episode is packed with valuable insights and practical steps you can take to optimize your tax situation.
If you find value in this episode, please share it with a friend who might benefit from it! Don’t forget to follow for more weekly episodes and expert guests in the world of real estate and finance.
Join us as we empower you to take control of your taxes and keep more of your hard-earned money! Listen now and start planning for a financially successful year!
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Connect with Chris McCormack on Social Media
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
In this episode of the Know Your Numbers REI podcast, host Chris McCormack welcomes Airbnb data expert John Bianchi, the founder of STR Search. John shares his passion for analyzing Airbnb data and discusses how his company helps clients identify profitable short-term rental properties. With a remarkable track record of over 200 successful property identifications.
John Bianchi is a leading expert in short-term rental investments and the founder of STR Search, a company that has successfully directed over $90M+ in Airbnb investments. Recognized as "The Airbnb Data Guy," John specializes in data-driven property acquisitions, helping investors identify and acquire highly profitable short-term rentals.
With a background in finance, he managed $10M in assets as a financial advisor at just 23 before transitioning into the Airbnb industry. After building a portfolio of 15 short-term rentals, he refined a proprietary data analysis method that has since guided the acquisition of 200+ cash-flowing properties with a 100% success rate. His expertise led him to work with the largest STR asset management company in the U.S., helping them acquire 140+ properties.
Committed to education and transparency, John created a comprehensive free course that teaches investors his exact acquisition process. His insights have helped transform the way investors approach Airbnb investments, using data to mitigate risk and maximize returns.
Tune in for expert advice and actionable tips to elevate your investment strategy in the world of short-term rentals.
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To connect with John Bianchi, visit his Social Media Platforms:
Facebook: https://www.facebook.com/john.bianchi.7921
Instagram: https://www.instagram.com/theairbnbdataguy/
Website: https://strsearch.com/
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chrismccormackcpa
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Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Join Chris McCormack, CPA and Certified Tax Planner, on this episode of the Know Your Numbers REI podcast as he reveals how rental properties can serve as the ultimate tax shelter. Chris discusses strategies like cost segregation, 1031 exchanges, and depreciation to legally and ethically reduce your taxable income through real estate investments.
He shares success stories of clients who have saved thousands in taxes and provides actionable tips for maximizing tax benefits. If you're a real estate investor looking to optimize your portfolio and save on taxes, this episode is a must-listen!
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Connect with Chris McCormack on Social Media
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, host Chris McCormack, CPA and founder of Better Books Accounting, dives deep into the powerful combination of cost segregation and 1031 exchanges.
Are you a real estate investor looking to maximize your tax savings and accelerate your portfolio growth? This episode is for you! Chris breaks down the intricacies of both strategies, explaining how they work individually and together to create a wealth-building machine.
Learn about the basics of cost segregation and 1031 exchanges and how to avoid common pitfalls that could lead to significant tax bills. Chris also shares real-life examples of how these strategies can save you thousands and some of the actionable tips to implement these strategies in your own portfolio.
If you're planning to sell a property or expand your portfolio, reach out to a CPA who specializes in real estate tax planning. For personalized advice, schedule a consultation with Chris through the link in the description!
Stay tuned and keep moving forward!
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Connect with Chris McCormack on Social Media
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, host Chris McCormack, CPA and Certified Tax Planner, dives deep into the world of cost segregation and how it can significantly reduce your tax bill—potentially by half!
Are you an income-producing property owner frustrated by shrinking profits come tax season? Discover how cost segregation can help you accelerate depreciation, save thousands, and reinvest in your properties. Chris explains what cost segregation is, who qualifies, and shares real-life success stories of investors who have benefited from this strategy.
If you own rental properties or are involved in real estate investing, this episode is a must-listen! By the end, you'll have a clear understanding of whether cost segregation is the strategy you've been missing out on.
Don't forget to follow for more insights on real estate investing and tax strategies!
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Connect with Chris McCormack on Social Media
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, Chris McCormack, CPA and Certified Tax Planner, dives deep into the hidden mistakes that cost real estate investors thousands of dollars each year. If you're feeling overwhelmed by taxes, accounting, or the amount of money you're paying to the IRS, this episode is for you!
Chris discusses the four essential spokes of a successful real estate investment wheel: cash flow, appreciation, leverage, and tax savings. He shares real-life stories of clients who transformed their financial situations by addressing common tax mistakes and optimizing their strategies.
If you find value in this episode, please share it with fellow investors and entrepreneurs who may benefit from this crucial information. Don't forget to follow for more insights on how to take control of your taxes and unlock the true potential of your investments!
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Connect with Chris McCormack on Social Media
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Join our Facebook Group:https://www.facebook.com/groups/6384369318328034
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
In this episode of the Know Your Numbers REI podcast, host Chris sits down with Daniel Kaminski, founder of Foundation Launch, to explore the world of private family foundations. Daniel shares his journey from co-founding Better Wealth to establishing his own family foundation, highlighting the importance of understanding the intricacies of charitable giving.
Discover what a private family foundation is, the benefits it offers, and why it’s an attractive option for those looking to manage their charitable contributions effectively. Daniel dives into the mechanics of setting up a foundation, the tax advantages, and the potential pitfalls to avoid, including self-dealing and compliance issues.
If you enjoyed this episode, leave a five-star review and stay tuned for more insightful discussions on the Know Your Numbers REI podcast. Subscribe now and keep moving forward in your real estate journey!
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To connect with Daniel Kaminski, visit his Social Media Platforms:
Instagram: https://www.instagram.com/right_hand_dan/
LinkedIn: https://www.linkedin.com/in/danieljkaminski/
Website: https://www.foundationlaunch.com/
Twitter: https://x.com/DanKaminskiTax
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
In this episode of the Know Your Numbers REI podcast, host Chris McCormack discusses the importance of having a qualified CPA and tax planning for real estate investors and business owners. He shares his background working at PwC and emphasizes the need for proper planning and working with professionals. He focuses on entity structure and provides valuable insights for real estate investors to make informed decisions.
Tune in to learn more about the advantages of LLCs, the considerations for husband and wife partnerships, and how to set up your entities for success in the real estate investing world.
Don't miss out on valuable tax and business insights. Subscribe to the Know Your Numbers REI podcast on YouTube, Spotify, or Apple Podcasts. Leave a five-star rating and review to show your support for the podcast! Join the community on Facebook, Instagram, and LinkedIn for more educational content and discussions. Keep moving forward with confidence in your real estate investment journey!
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to another episode of the Know Your Numbers REI podcast with your host, Chris McCormack! In this episode, we dive deep into a tax strategy that many people reference but often misunderstand: hiring your children for your business.
Chris breaks down the essential requirements and best practices to ensure you can take advantage of this strategy without running afoul of the IRS. Learn about age requirements, reasonable wage expectations, and the importance of contracts and timesheets. Discover how this strategy can potentially save your family thousands of dollars in taxes while also teaching your kids valuable lessons about work and entrepreneurship.
Whether you're a seasoned investor or just starting out, this episode is packed with valuable insights to help you navigate the complexities of tax planning. Don't miss out on the opportunity to set your family up for financial success!
If you find this episode helpful, please share it with a friend and follow for more valuable content. Stay connected with us on YouTube and Instagram for regular updates and short-form content, while Spotify and Apple provide the long-form podcast experience.
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
In this episode of the Know Your Numbers REI podcast, host Chris McCormack, CPA, discusses the frustrations many real estate investors face regarding their taxes. He aims to eliminate confusion and anger surrounding tax payments by providing valuable insights and information. Chris emphasizes the importance of turning knowledge into wisdom, especially for those who may not have the time or desire to study the tax code.
In this episode, Chris touches on a recent event in the accounting industry involving the sudden shutdown of Bench Accounting, a company that aimed to revolutionize accounting through automation and technology.
Join us as we explore the implications of this closure for thousands of clients left in the lurch, and discuss the critical lessons we can learn from this situation.
If you're a real estate investor or business owner looking for clarity in your accounting and tax needs, this episode is packed with insights to help you navigate your financial journey.
Tune in to learn how to build confidence in your financial decisions and navigate the complexities of taxes as a real estate investor. Don't forget to leave a five-star rating and share the episode with friends who may benefit from this information!
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, host Chris McCormack dives into the complexities of the Corporate Transparency Act and its implications for business owners, LLCs, and investors.
As we kick off 2025, Chris discusses the recent court rulings that have created confusion around beneficial ownership information reporting. With deadlines looming and potential fines for non-compliance, it's crucial for business owners to stay informed and prepared.
Join us as we break down the history and purpose of the Corporate Transparency Act. He also discussed the recent court decisions and their impact on reporting requirements and the importance of having trusted professionals in your corner.
If you find value in this episode, please subscribe, rate, and review us! Your feedback helps others discover essential tax and real estate strategies.
Have questions or topics you'd like us to cover? Leave a comment on Spotify or YouTube, or reach out to Chris on social media.
Stay informed, stay compliant, and keep moving forward!
Follow for more insights on tax strategies, real estate, and business ownership!
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome back to the Know Your Numbers REI podcast! In this episode, host Chris McCormack, a CPA and certified tax planner, delves into why taxes are the biggest expense of our lifetime and what you can do about it.
Chris discusses the various categories of taxes we pay, the impact of tax policies on our economy, and practical strategies to pay less in taxes. He emphasizes the importance of planning ahead, voting for tax-friendly officials, and hiring a professional to navigate the complex tax landscape.
If you're looking to gain insights on reducing your tax burden and building financial confidence, this episode is a must-listen. Share it with a friend who could benefit and leave a review to support the podcast's growth.
Tune in to the Know Your Numbers REI podcast for valuable tax planning tips and strategies to keep more money in your accounts. Don't miss out on empowering yourself with the knowledge to make informed financial decisions. Follow now and stay informed!
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, Chris McCormack, CPA, and Certified Tax Planner at Better Books, dives deep into the four primary drivers of your tax bill. Discover how the way you earn, save, invest, and leverage money can significantly impact your tax obligations.
Chris discusses the difference in tax rates between W-2 earners and business owners, using Warren Buffett as a prime example and the strategies for W-2 earners to maximize tax savings. He also covers the importance of how you save money, including the benefits of tax-deferred retirement accounts and the impact of investment choices on your tax bill, from stocks to real estate and oil and gas investments.
Chris emphasizes the importance of having a solid tax plan and working with a knowledgeable advisor to navigate these complexities. If you're looking to reduce your tax burden and gain peace of mind in your financial journey, this episode is a must-listen!
Tune in now and take control of your tax strategy!
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Welcome to the Know Your Numbers REI Podcast! In this episode, host Chris McCormack, CPA, MBA, and Certified Tax Planner at Better Books Accounting, shares essential tips on what to look for when hiring a CPA. As we approach the new year, many individuals and business owners are seeking reliable tax professionals to help navigate the complexities of taxes and accounting.
Join Chris as he discusses the five key qualities to consider when searching for a CPA. He also shares bonus tips on ensuring your CPA is both legal and creative in their approach to tax planning. If you're in the market for a tax planner or CPA, this episode is packed with valuable insights to help you make an informed decision.
Don't forget to leave a five-star rating and reach out to Better Books Accounting for a free consultation to identify any mistakes or missed opportunities in your tax planning!
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
In this episode of the Know Your Numbers REI Podcast! host Chris McCormack, a Certified Public Accountant and Certified Tax Planner, dives deep into the concept of the "real wealth gap" between business owners and W-2 earners.
Chris discusses the significant advantages that business owners have when it comes to taxes, income potential, and wealth accumulation. He explores key topics such as:
- The limitless income potential of business owners compared to the capped salaries of W-2 earners.
- The various tax incentives available to business owners that are not accessible to traditional employees.
- The ability of business owners to exclude gains on the sale of their businesses and the benefits of the Qualified Business Income deduction.
- The numerous expenses that business owners can write off, which W-2 earners cannot.
Join us as we unpack these critical insights and discuss why understanding this wealth gap is essential for anyone looking to improve their financial situation.
If you find value in this episode, please give us a five-star rating and leave a review! We also welcome your comments and suggestions for future topics. Share this episode with anyone who could benefit from understanding the advantages of business ownership in today's economy. God bless you and keep moving forward!
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
In this episode, host Chris McCormack dives into a thought-provoking discussion about the potential implications of a zero federal income tax policy, a topic recently brought to light by former President Trump.
As we navigate the holiday season and reflect on our nation's history, Chris explores the origins of income tax in the United States, its evolution over the years, and the historical context surrounding taxation. He addresses common questions about what a zero income tax could mean for taxpayers and the accounting industry, including whether CPAs would be out of a job.
Join us as we unpack the complexities of taxation, the role of tariffs, and the potential for a new approach to funding government services. Whether you're a taxpayer, a business owner, or simply curious about the future of taxation in America, this episode offers valuable insights and historical perspectives.
Don't forget to follow our channel for more content, and if you find value in this episode, please leave us a five-star rating and review!
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
In this episode of the Know Your Numbers REI podcast, host Chris McCormack delves into the crucial topic of real estate professional status. He highlights how this strategy can help real estate investors offset passive losses with active income from other sources, such as W-2 income or business earnings.
Chris emphasizes the significance of understanding the qualifications for real estate professional status to leverage tax benefits effectively. Tune in to gain valuable insights on navigating the tax and accounting aspects of real estate investing.
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
RecordKeeping #RealEstateProfessionalStatus #TrackingHours #IRS #IRSRequirements #TaxPlanning #TaxCode #TaxPlanner #CPA #CostSegregation #TaxDeductions #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack, CPA and Certified Tax Planner at Better Books, delves into the IRS's "dirty dozen" list—a compilation of schemes the IRS warns taxpayers to be cautious about. Chris emphasizes the importance of seeking vetted and reliable advice to navigate the complexities of tax regulations and avoid potential pitfalls.
He highlights the significance of the Employee Retention Credit, introduced during the pandemic, and discusses how taxpayers can benefit from it when guided by knowledgeable advisors. Tune in now and empower yourself with the knowledge to protect your finances!
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
In this episode of the Know Your Numbers REI podcast, host Chris McCormack, a CPA Certified Tax Planner and Founder of Better Books Accounting, shares five essential strategies to implement before the year-end to reduce tax stress and keep more money in your pocket.
Chris emphasizes the importance of getting your books in order as the first strategy. He explains how disorganized financial records can lead to overpaying taxes and highlights the benefits of proactive bookkeeping.
This episode is a must-listen for business owners and real estate investors looking to navigate the upcoming tax season with confidence and ease. Tune in for practical advice that can significantly impact your financial well-being as the holiday season approaches.
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
In this episode of the Know Your Numbers REI podcast, host Chris McCormack delves into a compelling case study of a high-income earner in the medical field—a doctor earning approximately $700,000 annually. He tackles the challenges faced by high-income earners regarding tax liabilities, particularly how taxes can significantly diminish their hard-earned income.
Chris shares insights on how his team at Better Books was able to help this client save around $300,000 in taxes, effectively minimizing his tax burden to nearly eliminate W-2 income taxation. The episode highlights the importance of a strategic approach to taxes, especially for those with complex income streams, such as real estate investments and business income. Tune in to learn valuable strategies for optimizing tax savings and ensuring your financial health in the face of high-income taxation.
If you or someone you know is a high-income earner in the medical industry or involved in real estate investing, this episode is packed with valuable insights that could save you thousands in taxes. Don't forget to leave a five-star rating and share this episode to help others discover these powerful tax strategies!
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
In this episode of the Know Your Numbers REI podcast, host Chris Cormack, a CPA and tax planner, discusses the critical topic of bookkeeping for real estate investors and business owners. He highlights four essential mistakes to avoid when handling your own bookkeeping.
While Chris acknowledges that many entrepreneurs choose to manage their own books, he emphasizes the potential risks and costs associated with getting it wrong—often outweighing any savings from not hiring a professional. Tune in to learn how to ensure your bookkeeping is effective and how to determine if it's time to seek professional help.
If you find value in this discussion, please share it with a friend and subscribe to our channel for more insightful content on taxes, finance, and real estate!
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Dave Ramsey's approach to finances is deeply intertwined with his faith, which serves as the foundation for his financial philosophy and practices. He openly shares his religious convictions, particularly his relationship with Jesus Christ, and emphasizes the importance of applying biblical principles to financial management. This perspective extends beyond personal finance; it fosters a sense of community and service.
In this episode, host Chris McCormack, a Certified Tax Planner and CPA at Better Books, takes a deep dive into the world of personal finance and the controversial figure of Dave Ramsey.
Join Chris as he shares four compelling reasons why he admires Dave Ramsey, despite the criticism Ramsey often faces. From his strong faith and biblical approach to finances, to his impressive multimillion-dollar business and rags-to-riches story, Chris highlights the positive impact Ramsey has had on millions of people seeking financial freedom.
Whether you agree with Ramsey's views on debt or not, this episode encourages healthy conversations about financial strategies and the importance of serving others through business.
If you find value in this discussion, please share it with a friend and follow to our channel for more insightful content on taxes, finance, and real estate!
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Poor money management is one of the most prevalent pitfalls that entrepreneurs face, especially those who are just starting out or are in the growth phase of their business. Despite generating significant revenue, many entrepreneurs find themselves in financial distress due to ineffective financial habits. This can lead to severe consequences, including bankruptcy, insolvency, or the need to return to traditional employment.
In this episode of the Know Your Numbers REI podcast, host Chris McCormack discusses the three most common mistakes that entrepreneurs make and how to avoid them. He highlights the critical issue of bad money management, particularly for new entrepreneurs or those in a growth phase.
Chris references the book "Profit First" by Mike Michalowicz, which addresses the pitfalls of overspending despite high revenue. He emphasizes the importance of maintaining healthy financial practices to prevent insolvency and ensure long-term success. Tune in to learn more about these mistakes and how to steer clear of them for a thriving entrepreneurial journey.
If you find value in this episode, please share it with fellow entrepreneurs and leave us a five-star rating and review! Your support helps us reach more listeners who can benefit from this crucial information.
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
MoneyManagement #BusinessMistakes #Entrepreneurship #BusinessTips #FinancialLiteracy #ProfitFirst #InvestSmart #WealthBuilding #FinancialAdvice #EntrepreneurMindset #RealEstateInvesting #FinancialFreedom #DaveRamsey #RichDadPoorDad #Proverbs #EntityStatus #SeekExpertAdvice #FinancialSuccess #TaxSavings #BusinessStrategy #EntrepreneurLife #SuccessMindset #AvoidMistakes #FinancialEducation #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack delves into the critical topic of tax policy as it relates to the upcoming presidential election. With a focus on current Vice President Kamala Harris, who is running as a Democratic candidate, Chris examines the various discussions surrounding her tax proposals.
Chris highlights the importance of understanding the impact of these policies, referencing nonpartisan resources like the Tax Foundation for further insights. In this episode, he also touches on the recent vice presidential debate, where tax policy was a significant point of contention among candidates.
Tune in to gain a clearer perspective on Kamala Harris's tax policy and its potential implications for the economy.
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
KamalaHarris #VoteSmart #TaxPolicy #Election2024 #TaxTalk #Poverty #CommunitySolutions #JobMarket #GDP #Incentives #Economy #Taxes #FinancialEducation #AccountingForRealEstateInvestors #RealEstateTax #FinancialEducation #AccountingForRealEstateInvestors #RealEstateTax
In this episode of the Know Your Numbers REI podcast, host Chris McCormack dives into the compelling reasons why short-term rentals are particularly advantageous for W-2 earners. He discusses the growing popularity of short-term rentals, emphasizing the importance of ensuring that investments generate positive cash flow and a solid return.
Chris highlights the significant tax benefits associated with owning short-term rentals, especially for those who earn a regular salary. He aims to help you understand the tax code and real estate investment strategies, providing clarity and confidence in navigating the complexities of short-term rentals.
Tune in for insights that can help you leverage this powerful investment opportunity! Remember to follow, leave a comment, and share with friends for more valuable content.
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
BenefitsOfShortTermRentals #W2Earners #CostSegregation #RealEstateProfessionalStatus #Depreciation #ScheduleC #ScheduleE #TaxBenefits #TaxStrategy #FinancialEducation #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode, host Chris McCormack, founder of Better Books, CPA, and certified tax planner, dives deep into a critical topic that affects many individuals and businesses: going into debt to the IRS.
Are you feeling overwhelmed by tax season or struggling with financial planning? You're not alone! Many people find themselves in debt to the IRS due to bad accounting, poor advice, and lack of planning. Chris shares valuable insights on how to avoid these pitfalls and take control of your financial future.
In this episode, you'll learn the importance of good accounting and tracking your numbers, and how the Profit First method can help you save for taxes and reinvest in your business. You’ll understand the consequences of bad advice and how to seek the right guidance and the significance of planning ahead to avoid unexpected tax bills.
If you know someone who could benefit from this information, please share this episode with them! Don't hesitate to reach out to Better Books for support and guidance on your financial journey.
Follow to our channel for more valuable content, and stay tuned for future episodes that will help you build confidence in your financial operations.
Thank you for listening, and remember: knowledge is power when it comes to your finances!
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
3ReasonsOfFallingIntoDebtToTheIRS #BadAccounting #BadAdvice #BadPlanning #ProfitFirstMethod #EnvelopeMethod #InternalRevenueService #FinancialPlanning #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormick, a CPA and Certified Tax Planner at Better Books, delves into the crucial topic of taxation sources and their impact on your tax bill. He emphasizes the importance of understanding how income is received, highlighting that the method of income receipt can significantly influence tax liability. Using Warren Buffett as a prime example.
Chris explains how the wealthy often pay a lower percentage of their income in taxes compared to their employees, despite potentially paying more in absolute terms. This episode aims to teach you on how tax planning strategies help you minimize your tax bills and gain confidence in your financial journeys.
Tune in now for valuable insights that could transform the way you approach your taxes!
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
4PrimaryDriversOfYourTaxBill #SourceOfTaxation #MakingMoney #SavingMoney #InvestingMoney #LeveragingMoney #FinancialPlanning #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
Welcome to the Know Your Numbers REI Podcast! In this episode, host Chris McCormick, CPA and Certified Tax Planner at Better Books Accounting, dives deep into a crucial topic for short-term rental investors: the biggest tax mistake that could cost you thousands of dollars.
Are you aware of the correct tax treatment for your short-term rental? Many investors and even accountants make the mistake of placing short-term rentals on Schedule C instead of Schedule E, leading to unnecessary self-employment taxes. Chris explains the implications of this mistake and how to avoid it, ensuring you keep more of your hard-earned money.
In this episode, you will learn:
- The difference between Schedule C and Schedule E for short-term rentals
- What constitutes "substantial services" and how it affects your tax treatment
- The potential tax savings you could achieve by working with a qualified real estate tax professional
- The importance of timely tax planning and preparation
If you find this episode valuable, please share it with a friend, give us a five-star rating, and subscribe to our YouTube channel for more insightful content. Join us as we help you navigate the complexities of real estate investing and tax planning!
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
ShortTermRentalsTips #SubstantialServices #TaxAdvice #ScheduleC #ScheduleE #CommonMistakes #InvestSmart #AirBNB #SelfEmploymentTax #PassiveIncome #TaxTreatment #QualifiedCPA #AccountableAccountant #FinancialPlanning #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
Welcome to the Know Your Numbers REI podcast! In this episode, host Chris McCormack sits down with Barrett Linburg, co-founder of Savoy Equity Partners, to discuss the intricacies of investing in Opportunity Zones within the real estate market. Barrett shares his expertise in utilizing the Opportunity Zone tax structure to maximize real estate investments, particularly in the Dallas, Texas region.
Barrett delves into his journey in commercial real estate, highlighting the benefits of Opportunity Zones and how they offer unique tax advantages for investors. He shares real-life examples of successful projects in Opportunity Zones, emphasizing the positive impact on neighborhoods and communities.
Discover the potential of Opportunity Zones, the future of this tax structure, and how you can get involved in real estate investments with Savoy Equity Partners. Don't miss out on valuable insights and expert advice on navigating the world of real estate investing in this engaging podcast episode!
Connect with Barrett Linburg on LinkedIn, Twitter, or through the Savoy Equity Partners website to learn more about Opportunity Zones and real estate investments.
If you enjoyed this episode, leave a five-star review and stay tuned for more insightful discussions on the Know Your Numbers REI podcast.
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To connect with Barrett Linburg, visit his Social Media Platforms:
Instagram: @dallasaptgp
LinkedIn: https://www.linkedin.com/in/barrett-linburg-32070310/
Website: https://savoyequity.com/
Twitter: https://x.com/DallasAptGP
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
OpportunityZones #BarrettLinburg #TaxBenefits #CapitalGainsTax #Syndications #PioneeringDevelopment #TaxDeferral #SavoyEquityPartners #CommunityRevitalization #InvestmentOpportunities #FinancialStrategies #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
Cash value life insurance can be a valuable tool for certain individuals, but it is essential to understand that it is not suitable for everyone. In this episode of the Know Your Numbers REI podcast, host Chris McCormack emphasizes the importance of making informed decisions when considering cash value life insurance. He highlights that while this strategy can offer tax benefits and serve as a savings vehicle, it is crucial to assess whether it aligns with your financial goals and circumstances.
Tune in to gain a deeper understanding of cash value life insurance and how it can play a role in your financial planning. Don't miss out on this informative episode that aims to empower you to make confident and informed decisions about your financial future.
If you found this episode valuable, consider following to the podcast, leaving a five-star rating, and sharing it with others who may benefit from the information shared. Stay informed, make wise financial choices, and keep moving forward towards your financial goals.
Listen to the full episode on the Know Your Numbers REI podcast now!
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
CashValueLifeInsurance #WholeLife #VariableUniversalLife #IndexedUniversalLife #CommonMistakes #DaveRamsey #RothIra #TaxMistakes #FinancialPlanning #FinancialWellbeing #FinancialGoals #InvestWisely #AvoidMistakes #BusinessOwners #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
Meeting with a qualified tax professional is crucial to avoid common tax deduction mistakes. In this episode of the Know Your Numbers REI podcast, Chris McCormack, a CPA and Certified Tax Planner, delves into the top five write-off mistakes that many people make and provides valuable insights on how to avoid them. With a focus on bringing confidence to American investors and business owners, Chris shares practical tips to help listeners pay less in taxes. Tune in to discover actionable strategies to improve your tax planning and make informed financial decisions.
Join Chris as he shares real-world examples and practical advice to help you make informed decisions and pay less in taxes while ensuring financial health in the long run.
Don't miss out on this insightful episode that aims to equip you with the knowledge and confidence to navigate the complex world of tax deductions. Follow to the Know Your Numbers REI podcast for more valuable tips and strategies to optimize your financial decisions.
If you found this episode helpful, leave a review, share it with someone who could benefit, and follow for future episodes. Your financial success is our priority. Stay informed, stay empowered, and keep moving forward.
•••••••••••••••••••••••••••••••••••••••••••• ➤➤ To become a client, schedule a call with our team or fill out a contact request form ➤➤ https://www.betterbooksaccounting.co/contact •••••••••••••••••••••••••••••••••••••••••••• Connect with Chris McCormack on Social Media Facebook: https://www.facebook.com/chrismccormackcpa LinkedIn: https://www.linkedin.com/in/chrismccormackcpa Instagram: https://www.instagram.com/chrismccormackcpa Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Top5WriteOffTaxMistakes #TaxDeductions #TaxProfessional #AutoDeduction #BuyingACar #MealsAndEntertainment #ClothingDeductions #BusinessTravel #HiringKids #TaxAdvisor #AvoidMistakes #BusinessOwners #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack, a CPA and Certified Tax Planner, dives into the importance of entity structure for real estate investors, specifically focusing on LLCs and partnerships. Chris shares insights on the benefits of setting up an LLC, such as limiting liability, separating business and personal finances, and gaining credibility as an investor.
He discusses the differences between single member LLCs and partnerships, particularly for husband and wife business owners, highlighting factors like tax deadlines, cost-effectiveness, and tax treatment. Chris emphasizes the need for clarity in choosing the right entity structure to maximize benefits and minimize headaches.
Tune in to learn more about the advantages of LLCs, the considerations for husband and wife partnerships, and how to set up your entities for success in the real estate investing world.
Don't miss out on valuable tax and business insights. Subscribe to the Know Your Numbers REI podcast on YouTube, Spotify, or Apple Podcasts. Leave a five-star rating and review to show your support for the podcast! Join the community on Facebook, Instagram, and LinkedIn for more educational content and discussions. Keep moving forward with confidence in your real estate investment journey!
•••••••••••••••••••••••••••••••••••••••••••• ➤➤ To become a client, schedule a call with our team or fill out a contact request form ➤➤ https://www.betterbooksaccounting.co/contact •••••••••••••••••••••••••••••••••••••••••••• Connect with Chris McCormack on Social Media Facebook: https://www.facebook.com/chrismccormackcpa LinkedIn: https://www.linkedin.com/in/chrismccormackcpa Instagram: https://www.instagram.com/chrismccormackcpa Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
LLCs #SingleMemberLLC #Partnerships #HusbandAndWifeBusiness #EntityStructures #EINNumber #BusinessBankAccount #SeparateAccounts #LiabilityProtection #BusinessClout #Professionalism #BusinessMindset #InvestorLife #TaxDeductibleExpenses #FinancialStatements #TaxDeadlines #BusinessReturns #TaxBenefits #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
Are you tired of feeling overwhelmed by taxes and unsure of how to navigate the complex tax system? Look no further than the latest episode of the Know Your Numbers REI podcast with host Chris McCormack.
In this episode, Chris McCormack, a CPA and certified tax planner, delves into why taxes are the biggest expense of our lifetime and what you can do about it. Chris discusses the various categories of taxes we pay, the impact of tax policies on our economy, and practical strategies to pay less in taxes. He emphasizes the importance of planning ahead, voting for tax-friendly officials, and hiring a professional to navigate the complex tax landscape.
If you're looking to gain insights on reducing your tax burden and building financial confidence, this episode is a must-listen. Share it with a friend who could benefit and leave a review to support the podcast's growth.
Tune in to the Know Your Numbers REI podcast for valuable tax planning tips and strategies to keep more money in your accounts. Don't miss out on empowering yourself with the knowledge to make informed financial decisions. Listen now and stay informed!
•••••••••••••••••••••••••••••••••••••••••••• ➤➤ To become a client, schedule a call with our team or fill out a contact request form ➤➤ https://www.betterbooksaccounting.co/contact •••••••••••••••••••••••••••••••••••••••••••• Connect with Chris McCormack on Social Media Facebook: https://www.facebook.com/chrismccormackcpa LinkedIn: https://www.linkedin.com/in/chrismccormackcpa Instagram: https://www.instagram.com/chrismccormackcpa Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests
TaxExpenses #PlanAhead #VoteAccordingly #HireAProfessional #TaxPlanning #FederalTax #IncomeTax #StateTax #CountyTax #UseTax #TaxPolicy #TaxDeductions #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
Real estate professional status allows investors to offset passive losses with active income, but it requires meticulous record-keeping and a minimum of 750 hours in real estate-related activities. Chris shares real-life examples and insights on how to ensure you meet the IRS requirements and avoid potential pitfalls.
In this episode of the Know Your Numbers REI podcast, host Chris McCormack discusses the importance of real estate professional status for investors. This strategy allows investors to use passive losses in real estate to offset active income from other sources, such as W-2 income or business earnings. Chris covers the details of qualifying for real estate professional status, highlighting its significance in tax mitigation for real estate investors.
If you're a real estate investor looking to maximize tax savings and gain confidence in your tax strategy, this episode is a must-listen. Don't miss out on valuable tips and advice to help you navigate the complex world of real estate taxation.
Follow to our podcast channel for more valuable content on real estate investing and tax planning. If you're ready to take control of your tax situation and explore the benefits of real estate professional status, schedule a free consultation with Chris and his team at Better Books Accounting. Don't let tax uncertainty hold you back. Tune in now and start making informed decisions to secure your financial future. God bless and keep moving forward!
•••••••••••••••••••••••••••••••••••••••••••• ➤➤ To become a client, schedule a call with our team or fill out a contact request form ➤➤ https://www.betterbooksaccounting.co/contact •••••••••••••••••••••••••••••••••••••••••••• Connect with Chris McCormack on Social Media Facebook: https://www.facebook.com/chrismccormackcpa LinkedIn: https://www.linkedin.com/in/chrismccormackcpa Instagram: https://www.instagram.com/chrismccormackcpa Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
RecordKeeping #RealEstateProfessionalStatus #TrackingHours #IRS #IRSRequirements #TaxPlanning #TaxCode #TaxPlanner #CPA #CostSegregation #TaxDeductions #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack dives into the crucial topic of debt, specifically focusing on the tax implications of refinancing in real estate investing. He emphasizes the importance of proper record-keeping and categorization to avoid unknowingly paying taxes on debt that should be non-taxable.
Chris shares real-life examples of investors who faced tax issues due to improper categorization of refinancing and insurance policy loans. He highlights the significance of working closely with accountants and tax planners to ensure accurate bookkeeping and tax filings, ultimately saving investors from overpaying in taxes.
If you're a real estate investor looking to maximize tax benefits and grow your portfolio confidently, this episode provides valuable insights and practical advice. Tune in to learn how to leverage debt effectively in your real estate investments while avoiding unnecessary tax burdens.
Don't miss out on this informative episode of the Know Your Numbers REI podcast with Chris McCormack of Better Books Accounting. Listen now and empower yourself with the knowledge to make informed financial decisions in your real estate ventures.
••••••••••••••••••••••••••••••••••••••••••••••••••••••••• ➤➤ To become a client, schedule a call with our team or fill out a contact request form ➤➤ https://www.betterbooksaccounting.co/contact ••••••••••••••••••••••••••••••••••••••••••••••••••••••••• Connect with Chris McCormack on Social Media Facebook: https://www.facebook.com/chrismccormackcpa LinkedIn: https://www.linkedin.com/in/chrismccormackcpa Instagram: https://www.instagram.com/chrismccormackcpa Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Debt #Refinancing #RecordKeepingProcess #BRRRMethod #RelationshipWithAccountant #TaxPlanning #ProperCategorization #TaxEfficiency #FinancialEducation #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack discusses the frustration that many individuals feel around taxes in the U.S. He highlights the impending increase in tax rates expected by the end of 2025 due to changes stemming from the Tax Cuts and Jobs Act passed in 2017. He discusses how to navigate these upcoming tax changes and reduce the amount they hand over to the government each year.
Tune in to learn how you can proactively plan for the future tax changes, make informed financial decisions, and navigate the evolving tax landscape with confidence. Don't miss out on valuable tips to keep more money in your accounts and grow your business effectively.
Listen now and take control of your taxes to secure a brighter financial future! Tune in now and gain the knowledge you need to make informed financial decisions. Remember to leave a five-star rating and review if you find this episode helpful.
••••••••••••••••••••••••••••••••••••••••••••••••••••••••• ➤➤ To become a client, schedule a call with our team or fill out a contact request form ➤➤ https://www.betterbooksaccounting.co/contact ••••••••••••••••••••••••••••••••••••••••••••••••••••••••• Connect with Chris McCormack on Social Media Facebook: https://www.facebook.com/chrismccormackcpa LinkedIn: https://www.linkedin.com/in/chrismccormackcpa Instagram: https://www.instagram.com/chrismccormackcpa Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
TaxStrategies #TaxIncreases #TaxSpecialist #InvestingStrategies #RothConversion #EntityStructure #TaxPlanning #TaxRateHikes #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
Oil and gas investing presents a compelling opportunity for investors seeking to diversify their portfolios and potentially achieve high returns. As highlighted in the podcast episode, one of the primary advantages of oil and gas investing is its potential for significant returns. By investing in these essential commodities, investors can capitalize on the ongoing demand, making oil and gas investments a lucrative addition to any portfolio.
In this episode of the Know Your Numbers REI podcast, host Chris McCormick explores alternative tax strategies beyond real estate investing. He delves into tax planning for high-income earners and accredited investors looking to minimize tax liabilities. Chris also focuses on a strategy tailored for individuals with substantial incomes and net worth, aiming to keep more money in their accounts and less in the hands of the U.S. government. Listen now to learn more about the valuable insights on maximizing tax benefits outside of traditional real estate investments.
Thank you for listening to the Know Your Numbers REI podcast. Stay informed, stay empowered, and keep moving forward towards financial success! Don't miss out on this informative episode! Tune in now and gain the knowledge you need to make informed financial decisions. Remember to leave a five-star rating and review if you find this episode helpful.
••••••••••••••••••••••••••••••••••••••••••••••••••••••••• ➤➤ To become a client, schedule a call with our team or fill out a contact request form ➤➤ https://www.betterbooksaccounting.co/contact ••••••••••••••••••••••••••••••••••••••••••••••••••••••••• Connect with Chris McCormack on Social Media Facebook: https://www.facebook.com/chrismccormackcpa LinkedIn: https://www.linkedin.com/in/chrismccormackcpa Instagram: https://www.instagram.com/chrismccormackcpa Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
OilAndGasInvesting #EnergyDemand #AccreditedInvestor #HighReturnPotential #DiversifyYourPortfolio #InflationHedge #TaxBenefits #GreaterDemandForEnergy #HighIncomeEarners #IntangibleDrillingCosts #TangibleDrillingCosts #TaxDeductions #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
Real estate professional status is a valuable tax strategy that enables individuals to offset losses from rental real estate against their active income. By qualifying as a real estate professional, individuals can utilize these losses to reduce their taxable income, particularly beneficial for those with high W-2 or business income.
In this episode of the Know Your Numbers REI podcast, host Chris McCormack dives deep into the strategy of real estate professional status to help investors scale their businesses and increase ROI by minimizing taxes. By being well-versed in the tax code, investors can collaborate effectively with professionals like Chris to generate innovative tax-saving ideas. Tune in for valuable insights on leveraging tax strategies to confidently grow your real estate portfolio.
If you're curious about whether you qualify for real estate professional status or want to learn more about this tax-saving strategy, this episode is for you. Don't miss out on valuable insights that can help you pay less in taxes and confidently grow your real estate portfolio. For a free consultation to explore your eligibility for real estate professional status and tax-saving opportunities, click the link in the show notes to connect with Chris McCormack and his team. Follow to the podcast for more tax insights and strategies to boost your real estate investments. Let's save on taxes and keep moving forward together.
••••••••••••••••••••••••••••••••••••••••••••••••••••••••• ➤➤ To become a client, schedule a call with our team or fill out a contact request form ➤➤ https://www.betterbooksaccounting.co/contact ••••••••••••••••••••••••••••••••••••••••••••••••••••••••• Connect with Chris McCormack on Social Media Facebook: https://www.facebook.com/chrismccormackcpa LinkedIn: https://www.linkedin.com/in/chrismccormackcpa Instagram: https://www.instagram.com/chrismccormackcpa Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
ROI #TaxSavings #RealEstateProfessional #TaxCode #CPAInsights #TaxLaw #TaxStrategies #TaxAdvantage #TaxKnowledge #TaxWisdom #TaxPlanning #TaxDeductions #TaxBenefits #TaxRefunds #CostSegregation #RealEstateInvesting #PassiveIncome #ActiveIncome #MaterialParticipation #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack delves into tax strategies, news, and insights for real estate investors and business owners. The focus is on helping those frustrated with the amount of taxes they pay to gain confidence and understanding in tax knowledge. Chris addresses the different tax implications for various industries within real estate investing, such as private money lending, development, wholesaling, and long-term investing.
If you're a real estate investor looking to optimize your tax strategy and minimize your tax burden, this episode is a must-listen. Gain clarity on how different real estate ventures are taxed, understand the importance of entity structure, and learn key considerations for maximizing deductions and minimizing tax liabilities.
Tune in to learn from a certified tax planner and CPA, Chris McCormack, as he shares practical advice and real-life examples to help you make informed decisions about your real estate investments. Don't miss out on this valuable information that could save you thousands in taxes! Subscribe to the Know Your Numbers REI podcast for weekly episodes on tax strategy, tax news, and tax insights for real estate investors and business owners. Join us on this journey to financial empowerment and tax efficiency in the real estate industry.
If you found this episode valuable, leave a review, share it with a friend, and follow our podcast. Stay connected with us on Spotify for more insightful content and discussions on real estate tax strategies. Remember, knowledge is power when it comes to your numbers in real estate investing. Let's make informed decisions and keep moving forward towards financial success!
••••••••••••••••••••••••••••••••••••••••••••••••••••••••• ➤➤ To become a client, schedule a call with our team or fill out a contact request form ➤➤ https://www.betterbooksaccounting.co/contact ••••••••••••••••••••••••••••••••••••••••••••••••••••••••• Connect with Chris McCormack on Social Media Facebook: https://www.facebook.com/chrismccormackcpa LinkedIn: https://www.linkedin.com/in/chrismccormackcpa Instagram: https://www.instagram.com/chrismccormackcpa Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
FixAndFlip #TaxInsights #TaxPlanning #TaxNews #TaxTips #BusinessOwner #Investor #TaxStrategy #PrivateMoneyLending #LongTermInvesting #Wholesaling #ShortTermRentals #BuildToRent #BuildToSell #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
Finding a specialized tax advisor experienced in your industry is crucial for proper tax planning and compliance. Just as you would seek a surgeon specialized in a specific medical procedure, finding a tax advisor with expertise in your industry ensures tailored advice and strategies aligned with the complexities of your business.
In this episode of the Know Your Numbers REI podcast, host Chris McCormack emphasizes the importance of maximizing tax benefits in real estate investing. He highlights the four key elements for optimal portfolio performance: cashflow, appreciation, leverage, and tax benefits. While cashflow, leverage, and appreciation are more straightforward to achieve, tax benefits often require specialized advice and planning. Chris stresses the significance of having a qualified tax advisor and a proactive approach to tax planning to fully utilize the potential of real estate investments. Tune in to learn how to ensure you are not leaving money on the table in your real estate portfolio.
If you found this episode helpful, be sure to share it with a friend and leave a review. Subscribe to the Know Your Numbers REI podcast for more valuable insights on tax savings and financial management for real estate investors. Your feedback is greatly appreciated as we strive to provide you with the best resources to grow your real estate business.
••••••••••••••••••••••••••••••••••••••••••••••••••••••••• ➤➤ To become a client, schedule a call with our team or fill out a contact request form ➤➤ https://www.betterbooksaccounting.co/contact ••••••••••••••••••••••••••••••••••••••••••••••••••••••••• Connect with Chris McCormack on Social Media Facebook: https://www.facebook.com/chrismccormackcpa LinkedIn: https://www.linkedin.com/in/chrismccormackcpa Instagram: https://www.instagram.com/chrismccormackcpa Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
#IRSAudit #TaxSavings #Cashflow #Appreciation #Leverage #TaxBenefits #TaxAdvisor #TaxPlanning #TaxPortfolio #TaxAdvisorSpecialist #TaxCompliance #IRS #TaxAudits #TaxProfessionals #TaxCode #TaxLaw #TaxStrategies #TaxSavingsStrategies #TaxDocumentation #TaxAdvisorSpecialization #TaxAdvisorQualifications #TaxAdvisorResources #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack, a CPA and Certified Tax Planner, delves into the crucial topic of documentation in real estate accounting and tax planning. He emphasizes the importance of proper documentation in protecting oneself against IRS audits and maximizing tax savings.
Chris emphasizes the significance of documenting business activities for real estate investors and business owners. Stressing the need to understand what, why, and how to document. This episode serves as a valuable guide for you to navigate tax responsibilities effectively. Tune in to learn why documentation is the cornerstone of every tax strategy and how it can safeguard your financial interests. Don't miss out on valuable insights to help you navigate the complexities of tax planning and accounting effectively.
If you found this episode informative, consider giving us a five-star rating and leaving a review. Join our Facebook group for daily updates on tax planning and network with like-minded individuals in the real estate investing community. Remember, investing in professional advice is always more cost-effective than going at it alone. Stay informed, stay compliant, and keep moving forward with the Know Your Numbers REI podcast.
••••••••••••••••••••••••••••••••••••••••••••••••••••••••• ➤➤ To become a client, schedule a call with our team or fill out a contact request form ➤➤ https://www.betterbooksaccounting.co/contact ••••••••••••••••••••••••••••••••••••••••••••••••••••••••• Connect with Chris McCormack on Social Media Facebook: https://www.facebook.com/chrismccormackcpa LinkedIn: https://www.linkedin.com/in/chrismccormackcpa Instagram: https://www.instagram.com/chrismccormackcpa Join our Facebook Group: https://www.facebook.com/groups/6384369318328034
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Documentation #TaxStrategy #TaxPlanning #IRS #ExpertAdvice #Receipts #ManagementFees #AuditRisk #IRSAudit #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack wraps up the series on Six Keys to Increasing Your Real Estate Revenue by discussing the importance of autonomous and accurate decision-making. By teaming up with the right professionals, you can free up time, reduce tax bills, and make confident decisions to grow your real estate portfolio.
Chris shares real-life examples of clients who have successfully implemented these strategies and seen significant results. Tune in to learn how to take control of your financial future and achieve your real estate goals. Don't miss out on valuable insights to maximize your revenue and minimize tax burdens!
Don't forget to check out the free e-book in the show notes for a deeper dive into the six keys discussed in this series. Follow the Know Your Numbers REI podcast for more valuable tips and strategies to optimize your real estate investments. Join the community on Facebook and start your journey towards financial success in real estate today!
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E-Book: https://mailchi.mp/betterbooksaccounting/6-keys
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chrismccormackcpa
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Autonomous #Accurate #DecisionMaking #RealEstateInvesting #ExpertAdvice #SixKeysToIncreasingRevenue #AuditRisk #IRSAudit #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
Investing in professional advice and teaming up with a qualified professional is crucial for real estate investors to reduce audit risk and avoid costly mistakes. The IRS is diligent in auditing individuals in the real estate industry due to the perceived tax benefits associated with it. Without the right knowledge and expertise, investors may unknowingly engage in practices that increase their audit risk, leading to potential financial losses.
In the episode of the Know Your Numbers REI podcast, host Chris McCormack, a CPA and Certified Tax Planner, dives into the fifth key from the latest e-book, "The Six Keys to Increasing Your Real Estate Revenue." This key focuses on the importance of seeking professional advice to reduce your audit risk and ensure you're taking full advantage of tax benefits without falling into unethical practices. He discusses real-life scenarios where improper tax strategies can lead to significant financial consequences, including unpaid taxes, interest, penalties, and representation fees. By investing in the right team of certified tax planners and professionals, real estate investors can navigate the complex tax landscape with confidence and ensure they are maximizing their tax benefits while staying compliant.
Tune in to learn how investing in professional advice can safeguard your real estate business and keep more money in your account. Don't miss out on this valuable episode of the Know Your Numbers podcast!
If you found this episode helpful, please consider leaving a five-star rating and review. Share this episode with anyone in the real estate industry who could benefit from expert tax advice. Stay informed, stay profitable, and keep moving forward with Know Your Numbers REI podcast.
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E-Book: https://mailchi.mp/betterbooksaccounting/6-keys
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
ProfessionalAdvice #AuditRisk #TaxStrategists #ProfessionalTaxPlanner #ProperDocumentation #SixKeysToIncreasingRevenue #AvoidCostlyMistakes #CostSegregation #TaxStrategy #TaxPlanning #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
Investing in a tax plan is crucial for real estate investors to save on taxes and plan for the future. It is important to understand the significance of tax planning as a way to mitigate taxes and keep more money in the investor's account. Many real estate investors often rely on their CPAs to handle their taxes without a proactive tax strategy in place. This reactive approach can lead to paying more taxes than necessary and missing out on potential tax-saving opportunities.
In this episode of the Know Your Numbers REI podcast, host Chris McCormack, a CPA and Certified Tax Planner, delves into key number four of the six keys to increasing your real estate revenue. Discover the importance of investing in a tax plan to save on taxes and plan for a prosperous future. Chris emphasizes the significance of finding a tax expert who understands your industry and can tailor strategies to your specific needs. He highlights the difference between tax planning and tax preparation.
If you're a real estate investor or business owner looking to optimize your tax strategy, this episode is a must-listen. Tune in to learn how tax planning can help you keep more money in your account and achieve your financial goals. Don't miss out on this valuable insight!
To access the full podcast episode and learn more about the six keys to increasing your real estate revenue, check out the link in the show notes. And if you enjoyed the content, please leave a five-star rating and review to support the show. Stay tuned for upcoming episodes as we continue to explore essential strategies for financial success in real estate. Thank you for listening and keep moving forward!
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E-Book: https://mailchi.mp/betterbooksaccounting/6-keys
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chrismccormackcpa
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
TaxPlanning #TaxStrategy #RealEstateRevenue #RealEstateInvesting #TaxSavings #SixKeysToIncreasingRevenue #FinancialFreedom #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
Managing your real estate business effectively requires measuring and monitoring your performance through up-to-date bookkeeping and tracking the numbers. In a podcast episode, Chris McCormack emphasizes the importance of performance monitoring in real estate investing, highlighting the key concept that "you can't manage what you don't measure." This principle applies not only to real estate but also to various industries, such as health and education.
Chris emphasizes that a strong accountant can help you understand your numbers, communicate financial insights, and guide you in managing your business effectively. He clearly added that by leveraging the expertise of an accountant, you can gain clarity, confidence, and peace of mind in running your business or real estate investments.
If you found this episode insightful, please share it with others who might benefit. And don't forget to check out the free e-book linked in the show notes for more detailed information on increasing your real estate revenue.
Thank you for tuning in, and keep striving to know your numbers and make informed decisions in your real estate ventures!
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E-Book: https://mailchi.mp/betterbooksaccounting/6-keys
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
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Instagram: https://www.instagram.com/chrismccormackcpa/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
PerformanceMonitoring #AccountManagement #RealEstateRevenue #ProactiveTaxPlanning #BusinessOwners #Health #Education #FinancialHabits #Bookkeeping #FinancialRecords #Taxes #Income #PeaceOfMind #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
Proper internal controls and regular processes are essential components for maintaining accurate financial records and implementing an effective tax strategy. Having internal controls in a real estate business establishes checks and balances, preventing errors, fraud, and mismanagement of funds. By following structured processes and procedures, real estate investors can manage their finances effectively, leading to reliable financial records.
In this episode of the Know Your Numbers podcast, host Chris McCormack delves into key number two from the e-book “The Six Keys to Increasing Your Real Estate Revenue” which is the importance of internal controls and processes in real estate revenue. Chris emphasizes the significance of having processes, procedures, checks, and balances, particularly focusing on internal controls. Drawing from his experience in the audit field, Chris highlights the relevance of internal controls for both big and small businesses, stressing their necessity for maintaining financial health and security.
Remember, forming positive financial habits and setting up internal controls are not just about avoiding problems; they're about creating a foundation for sustained business growth and personal peace of mind. Please share and leave a five-star rating and review to support the Know Your Numbers REI podcast. Let's empower ourselves with knowledge and financial freedom!
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E-Book: https://mailchi.mp/betterbooksaccounting/6-keys
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
InternalControls #ChecksAndBalances #AccountingProcedures #Processes #RealEstateRevenue #HabitFormation #FinancialHabits #AccountReconciliation #FinancialRecords #Taxes #Income #TimeManagement #Delegation #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
Clean accounting and bookkeeping are essential for the success of real estate investors, as they help eliminate chaos, errors, and unnecessary costs. Maintaining accurate financial records is the cornerstone of a successful real estate portfolio. Just as a secure foundation is crucial in building a house to prevent future issues, having organized accounting records is key to avoiding costly mistakes down the line.
In this episode of the Know Your Numbers podcast, host Chris McCormack delves into the first key to increasing real estate revenue: clean accounting and bookkeeping. By emphasizing the importance of accurate financial records, Chris aims to help real estate investors achieve peace of mind and confidence in their portfolios.
Don't miss out on this valuable information! Tune in to learn how clean accounting can eliminate chaos and errors in your real estate business. Remember to leave a five-star rating and review to support the Know Your Numbers REI podcast. Let's empower ourselves with knowledge and financial freedom!
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E-Book: https://mailchi.mp/betterbooksaccounting/6-keys
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
CleanFinancialRecords #Accounting #Foundation #Bookkeeping #RealEstateRevenue #TaxPlanning #CleanAccounting #Expenses #Taxes #Income #AuditRisk #Costs #TaxCases #IRS #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack discusses his six keys to real estate tax savings. He highlights potential changes in tax laws that could benefit investors and emphasizes the need to plan ahead for the rest of the year.
With market uncertainties and rising costs, McCormack focuses on ways to increase cash flow in real estate investments. The episode delves into strategies outlined in the new e-book, "The Six Keys to Increasing Your Real Estate Revenue."
Don't miss out on this valuable information! Tune in now and unlock your success in the real estate world using these six keys. Remember to leave a five-star rating and positive review to support the Know Your Numbers REI podcast. Let's empower ourselves with knowledge and financial freedom!
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
6KeysToIncreaseRevenue #CleanFinancialRecord #AccountingProceduresAndControls #PerformanceMonitoring #CreatingATaxPlan #SeekingProfessionalAdvice #FlexibilityInDecisionMaking #Bookkeeping #TaxPlanning #Revenue #Cashflow #TaxBenefits #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack interviews David Bahnsen, founder of the Bahnsen Group and author of "Full-Time: Work and the Meaning of Life." David discusses the importance of work and how it is ordained by God, emphasizing the significance of producing goods and services to meet the needs of humanity. He explores the idea of co-creating with God through work and highlights the role of work in stewardship and innovation.
Don't miss out on this enlightening conversation that will challenge your perspective on work and inspire you to see your professional life through a new lens. Let's continue to learn, grow, and integrate our faith into every aspect of our lives. Stay tuned for more engaging episodes coming your way.
Tune in to gain insights into the purpose and value of work in our professional lives. Don't forget to leave a rating and review if you find value in this episode!
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To connect with David, visit his Social Media Platforms:
Instagram: @davidlbahnsen
Facebook: https://www.facebook.com/david.bahnsen
LinkedIn: https://www.linkedin.com/in/davidbahnsen
Youtube: https://www.youtube.com/@Thebahnsengroup
Website: Full-time Book (fulltimebook.com)
Twitter: https://twitter.com/DavidBahnsen
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Connect with Chris McCormack on Social Media
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
KnowYourNumbersREI #Work #MeaningOfLife #Purpose #Faith #BahnsenGroup #TheologicalPerspective #EconomicDimensions #Entrepreneurship #EntrepreneurialJourney #FinancialGoals #WealthBuilding #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack interviews Aaron Letzeiser, the co-founder and COO of OBIE, a cutting-edge insurance and risk management technology platform for real estate investors in the United States. Aaron shares his journey from successful entrepreneur to real estate investor and venture partner. Discover how Aaron's frustration with lack of control over insurance expenses led him to start OBIE insurance with his brother, Ryan, and how they are revolutionizing the insurance market for investors.
Aaron shared his journey from being a real estate investor frustrated with the lack of control and transparency in the insurance market to creating OBIE insurance, a company that empowers property owners with instant, customizable insurance quotes. OBIE’s mission is to put real estate investors in the driver's seat, allowing them to tailor their coverage to their specific needs and investment strategies.
Are you a real estate investor looking for transparent insurance coverage? Tune in to the Know Your Numbers REI podcast to hear Aaron Letzeiser share how OBIE insurance is changing the game for investors. Don't forget to leave a rating and review if you find value in this episode! 🎧✨
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To connect with Aaron, visit his Social Media Platforms:
Instagram: @aaronletz
Facebook: https://www.facebook.com/aletzeiser
LinkedIn: https://www.linkedin.com/company/joinobie/
Youtube: https://www.youtube.com/@ObieInsurance.com
Website: https://www.obieinsurance.com/
Twitter: https://twitter.com/obieinsurance
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
KnowYourNumbersREI #NavigatingInsurance #RealEstateInsurance #AaronLetzeiser #OBIE #ReplacementCost #CoverageCost #LLC #Cashflow #MoneyMyth #Entrepreneurship #EntrepreneurialJourney #FinancialGoals #WealthBuilding #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack discusses key considerations as we approach the end of quarter one of tax season 2024. He emphasizes the importance of proactive planning to reduce tax bills, minimize stress, and save more money. Chris highlights missed opportunities he often sees and stresses the significance of building strong relationships with your CPA.
If you're feeling overwhelmed by taxes, stressed about paying too much to the government, or simply want to optimize your tax strategy for financial growth, this episode is a must-listen. Join Chris as he shares valuable insights and actionable steps to help you navigate the complexities of real estate taxes and secure your financial future.
Don't miss out on this valuable information! Tune in now and take control of your tax planning to achieve greater success in your real estate investments. Remember to leave a five-star rating and review to support the Know Your Numbers REI podcast. Let's empower ourselves with knowledge and financial freedom!
[00:00:57] Maximizing tax savings strategies.
[00:04:36] Finding a tax planner.
[00:07:26] Keeping records in real estate.
[00:09:53] Leveraging properties for wealth growth.
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
ProactivePlanning #SpecializedTaxProfessionals #Bookkeeping #ReduceTaxStress #TaxSavings #Appreciation #Cashflow #Leverage #TaxBenefits #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
Building trust through human interaction and service is essential in financial empowerment. In a podcast episode featuring Parker Purcell, the significance of human connection and service in the financial industry was emphasized. Parker stressed the importance of winning hearts before minds when it comes to leadership and relationship-building. He noted that people are not robots; they are complex individuals with lives, families, pasts, and baggage. Therefore, establishing a strong human connection is crucial in gaining trust and empowering individuals financially.
Parker shared insights from his experience at EQRP, where they prioritize a robust service model. They have dedicated account managers who proactively engage with clients, ensuring that everything they do is centered on a human-first approach. This strategy aims to make clients feel valued, understood, and supported throughout their financial journey. By focusing on human interaction and service, EQRP aims to cultivate trust with their clients, empowering them to take charge of their financial well-being.
Tune in to discover Parker's commitment to shaping a future where financial empowerment knows no bounds. Don't forget to leave a rating and review if you find value in this episode! 🎧✨
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To connect with Parker, visit his Social Media Platforms:
Instagram: @parkerpursell
Facebook: https://www.facebook.com/parker.pursell
LinkedIn: https://www.linkedin.com/in/parker-pursell
Youtube: https://www.youtube.com/@pursellfarms
Website: https://eqrp.com/
Twitter: @parker_pursell
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
KnowYourNumbersREI #NurturingGrowth #FinancialSuccess #ParkerPursell #EQRP #Faith #Finance #RealEstateAgent #Investor #FinancialEmpowerment #Entrepreneurship #EntrepreneurialJourney #FinancialGoals #WealthBuilding #BetterBooks #ChrisMcCormack
In this insightful episode of the Know Your Numbers REI podcast, host Chris McCormack covers the five common bookkeeping pitfalls to avoid, including the consequences of not keeping up with bookkeeping, failing to utilize software, procrastination, the importance of delegating, and the significance of properly categorizing transactions in the real estate industry.
Tune in to learn how neglecting bookkeeping can lead to failed audits, increased tax liabilities, and wasted time and energy. Chris provides valuable tips on how to overcome these challenges and emphasizes the importance of seeking help from real estate accounting specialists to ensure accurate and efficient bookkeeping practices.
If you're a real estate investor or business owner looking to optimize your financial strategies, this episode is a must-listen. Don't miss out on valuable insights that can help you save money, grow your portfolio, and achieve financial success. Share this episode with a friend who could benefit from this valuable information!
[00:01:28] The power of scripture.
[00:05:00] Importance of bookkeeping for business.
[00:08:20] Procrastination in bookkeeping.
[00:11:30] Proper categorization of transactions.
[00:14:18] Real estate bookkeeping importance.
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
BookkeepingTips #AvoidingBookkeeping #ForsakingSoftwares #Procrastination #FailureToDelegate #InabilityToProperlyCategorize #FinancialSuccess #RealEstateInvestmentTips #RealEstateTaxProfessionals #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack discusses the topic of syndications in real estate investing. Syndications are group-funded investment projects that target larger commercial properties.
Chris addresses common questions about syndications and explains how they differ from smaller residential properties like duplexes or quadplexes. Learn how syndications differ from partnerships and gain insights into common questions surrounding this topic.
Tune in to learn more about this investment strategy and how it can benefit your real estate portfolio. Don't forget to leave a five-star rating and review if you found this episode helpful!
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
Syndications #FormsOfCapitalGainBenefits #Depreciation #CapitalGainsOnTheSale #1031Exchanges #PassiveActivityLosses #CostSegregation #TaxBenefits #RealEstateInvestmentTips #RealEstateTaxProfessionals #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack delves into the controversial marketing techniques used by TurboTax. He shares insights on how these strategies impact customers and the financial world. Chris highlights the limitations of relying solely on tax software, such as TurboTax, which may guarantee an accurate tax return but overlooks proactive tax planning.
He emphasizes that TurboTax's guarantee of accuracy does not necessarily ensure that all deductions, credits, and tax-saving opportunities are maximized. Taxpayers using TurboTax may unknowingly miss out on potential savings due to errors or oversights in their tax returns.
Tune in to learn more about this topic and gain confidence in your financial decisions as a real estate investor. If you enjoy the episode, don't forget to leave a five-star rating and review. Visit betterbooksaccounting.co for more information or join our Facebook page for free guidance and interaction.
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
TurboTax #IRS #MarketingTechniques #TaxReturns #TaxOverpayments #TaxPlanning #BetterBooksAccounting #ProactiveTaxPlanning #TaxPayers #RealEstateInvestmentTips #RealEstateTaxProfessionals #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack, a CPA and founder of Better Books Accounting and Tax Planning, discusses the importance of understanding tax buckets for real estate investors and business owners.
He emphasizes the value of aligning with the right tax professional to navigate the tax code effectively, reduce overpayments, and build a strong relationship with a CPA.
Tune in to gain clarity on different tax accounts and their benefits, drawbacks, and requirements. Don’t forget to share the episode for valuable insights and to leave a five-star rating and review.
[00:02:21] Different tax buckets.
[00:04:50] Traditional vs. Roth IRA.
[00:09:45] Tax Now vs Tax Later.
[00:12:13] Tax-free savings accounts.
[00:14:20] Tax-free retirement planning options.
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
ThreeTaxBuckets #TaxDeferred #TaxNow #TaxFree #TaxPlanning #RothIRA #401K #TaxConsideration #TedBenna #PeterThiel #RealEstateInvestmentTips #RealEstateTaxProfessionals #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
Tax rates are a crucial factor to consider when planning for retirement. In this episode of the Know Your Numbers REI podcast, David McKnight, author of the bestselling book "The Power of Zero" shares his expertise in helping thousands of Americans achieve the 0% tax bracket. Emphasizes the importance of recognizing that tax rates are likely to increase in the future due to the growing national debt. He suggests that individuals should resist the temptation to prioritize immediate tax deductions and instead focus on tax-free retirement planning options.
McKnight recommends taking advantage of various tax-free streams of income available in the IRS tax code, such as Roth IRAs, Roth 401(k)s, and Roth conversions. By paying taxes at historically low rates today and investing in tax-free accounts, individuals can potentially avoid higher tax rates in the future.
David shares valuable insights on minimizing taxes and achieving financial freedom. Don't miss this informative conversation with a tax expert.
Tune in to this inspiring podcast episode now! Don't forget to leave a rating and review if you find value in this episode! 🎧✨
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To connect with David, visit his Social Media Platforms:
Instagram: @davidcmcknight
Facebook: https://www.facebook.com/david.mcknight.752
LinkedIn: https://www.linkedin.com/in/thepowerofzero/
Youtube: https://www.youtube.com/channel/UCGxUwL7NvZUyLfgO18h3e2g
Twitter: @mcknightandco
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➤➤ https://www.betterbooksaccounting.co/contact
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
KnowYourNumbersREI #PowerOfZero #DavidMcKnight #RetirementPlanning #FinancialFreedom #RealEstateAgent #Investor #FinancialLiteracy #Entrepreneurship #EntrepreneurialJourney #FinancialGoals #MoneyMyths #WealthBuilding #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack discusses the power and possibilities of using retirement accounts, specifically the Roth IRA. He shares a powerful story that highlights the benefits and considerations of utilizing retirement accounts for financial planning.
Chris emphasizes that everyone's financial goals and circumstances are unique, and encourages listeners to seek personalized tax planning and financial advice. Don't miss this valuable episode on maximizing your retirement savings.
Tune in now for an enlightening and entertaining conversation that will leave you with a deeper understanding of Roth IRA. Don't forget to leave a five-star rating and review and share this episode with your friends!
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
RothIRA #IndividualRetirementAccount #PeterThiel #MazimizingWealth #TaxPlanning #FinancialHealth #RealEstateInvestmentTips #RealEstateTaxProfessionals #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack discusses the importance of proactive tax planning for real estate investors. He highlights the difference between tax planning and other service offerings in the market and emphasizes the frustration that many investors face due to a lack of proactive tax planning.
Chris is dedicated to providing listeners with the insights they need to make confident decisions about their taxes. He educates listeners on what to look for in a real estate tax accountant and keeps them updated on the ever-changing tax environment.
If you find value in this episode, be sure to share it with a friend who could benefit from this information. Join us as we empower real estate investors to take control of their finances and maximize their tax benefits.
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➤➤➤ To become a client, schedule a call with our team or fill out a contact request form
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
TaxPlanning #TaxProjections #AmericanInstituteOfCertifiedTaxPlanners #TaxPlanner #FinancialHealth #RealEstateInvestmentTips #RealEstateTaxProfessionals #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack, a CPA and Certified Tax Planner, delves into a topic that is relevant to all real estate investors: what happens to your taxes when you die. While it may not be a pleasant topic, it is important to understand the implications and plan accordingly.
Chris provides clarity and guidance on navigating the confusing waters of the United States tax code, with the goal of eliminating tax burdens and keeping more money in your account.
Tune in to gain valuable insights and share this episode with others who can benefit from understanding the tax implications of death.
[00:00:14] - Introduction to Know Your Numbers REI Podcast
[00:00:25] - Goal of Eliminating Real Estate Tax Burdens
[00:00:45] - Overview of Today's Tax Code Topic
[00:01:06] - Importance of the Topic for All Real Estate Individuals
[00:01:17] - Encouragement to Share and Review the Podcast
[00:01:38] - Discussing the Inevitability of Death and Estate Planning
[00:02:20] - Integrating Christian Faith with Estate Planning
[00:02:41] - What Happens to Your Assets After Death
[00:03:12] - Estate Planning as a Team Task
[00:03:43] - Tax Consequences of Improper Estate Planning
[00:04:04] - Estate Planning Beyond Tax Saving
[00:05:30] - Non-Tax Objectives of Estate Planning
[00:06:12] - Importance of a Clear Estate Plan
[00:07:03] - Minimizing Various Taxes Through Estate Planning
[00:07:14] - Reducing Probate Costs and Enhancing Principal
[00:09:10] - Questions Addressed by an Estate Plan
[00:12:18] - Key Team Members for Estate Planning
[00:13:52] - Understanding Estate and Inheritance Taxes
[00:17:36] - Encouraging Listeners to Consider Estate Planning
[00:18:18] - Future Discussions and Guest Speakers on Estate Planning
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➤➤➤ To become a client, schedule a call with our team or fill out a contact request form
➤➤ https://www.betterbooksaccounting.co/contact
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
EstatePlanning #NonTaxObjectives #TaxObjectives #IncomeTax #EstateTax #InheritancesTax #RealEstateInvestmentTips #RealEstateTaxProfessionals #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack discusses the misconception that tax advice is a one-size-fits-all solution. With the rise of social media influencers and the influx of financial advice, it's crucial for real estate investors to be aware of the potential pitfalls of generic tax advice.
Chris emphasizes the importance of personalized tax planning and highlights some costly decisions that can arise from following generic advice.
Tune in to learn more about the intricacies of tax advice and how to navigate them effectively.
[00:00:14] - Introduction to Know Your Numbers REI Podcast
[00:00:25] - Goals of BetterBooks Accounting
[00:00:47] - Importance of Tailored Tax Advice
[00:01:29] - The Misconception of One-Size-Fits-All Tax Advice
[00:01:40] - Influence of Social Media on Tax Advice
[00:02:12] - Growing Demand for Tax Professionals
[00:02:54] - Risks of Unqualified Tax Advice
[00:03:15] - Decrease in Tax Professionals
[00:03:57] - Personal Nature of Tax Advice
[00:04:07] - Entity Structure Advice Warning
[00:04:39] - Misleading Entity Structure Promotions
[00:05:00] - Importance of Trustworthy Entity Structuring
[00:05:31] - Credentials of a Tax Professional
[00:06:02] - CPA and Enrolled Agent Qualifications
[00:06:34] - Certified Tax Planner Designation
[00:07:17] - Personalized Advice on Entity Structure
[00:07:27] - Depreciation and Its Personal Relevance
[00:08:09] - Accelerated Depreciation and Cost Segregation
[00:08:41] - Qualifications for Accelerated Depreciation
[00:09:12] - Cost Segregation Expertise and Referrals
[00:10:04] - Real Estate Professional Status Misconceptions
[00:10:46] - Requirements for Real Estate Professional Status
[00:11:40] - Seeking Qualified Tax Advice
[00:12:01] - BetterBooks' Approach to Tax Advice
[00:12:53] - Encouragement to Consult a Tax Advisor
[00:13:03] - Podcast Outro and Call to Action
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➤➤➤ To become a client, schedule a call with our team or fill out a contact request form
➤➤ https://www.betterbooksaccounting.co/contact
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
→ → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←
https://www.youtube.com/@betterbooksREI/featured
The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
TaxPlanning #EntityStructure #Depreciation #AcceleratedDepreciation #CostSegregation #RealEstateProfessionalStatus #ProactivePlanning #BuildingRelationships #TaxChanges #IRSCode #TaxPreparation #RealEstateInvestmentTips #RealEstateTaxProfessionals #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack discusses important things to be aware of as we approach the 2024 tax year. With recent changes to the tax law and ongoing efforts by the government to generate revenue and incentivize economic investment, it's crucial for real estate investors to stay informed.
Chris highlights the proactive planning and strong client relationships offered by Better Books Accounting, a real estate tax planning firm. He emphasizes the importance of working with professionals to navigate the complexities of real estate tax and maximize savings.
Tune in to learn about the latest tax changes and how they could impact your real estate business.
[00:00:00] Introduction and Overview
[00:02:14] Corporate Transparency Act
[00:05:10] Changes in Bonus Depreciation
[00:10:04] Tax Deadlines and Extensions
[00:12:19] Importance of Working with a Tax Planner
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➤➤➤ To become a client, schedule a call with our team or fill out a contact request form
➤➤ https://www.betterbooksaccounting.co/contact
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
→ → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←
https://www.youtube.com/@betterbooksREI/featured
The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
2024TaxPlanning #CorporateTransparencyAct #BonusDepreciation #ProactivePlanning #BuildingRelationships #TaxChanges #IRSCode #TaxPreparation #RealEstateInvestmentTips #RealEstateTaxProfessionals #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack dives into the controversial subject of overpaying taxes. He explores whether it makes you a good citizen to overpay on taxes and presents three compelling reasons why it does not.
From discussing the impact of overpaying on your ability to serve others to the lack of accountability in government offices and the questionable spending of taxpayer dollars, Chris challenges the common belief that overpaying on taxes is a noble act.
If you're interested in real estate tax strategies or want to learn more about maximizing your tax savings, this episode is a must-listen. Don't forget to leave a five-star rating and review if you find value in this episode and share it with others who can benefit from these insights.
00:00:00 - Introduction and Call to Action
00:01:10 - Controversial Tax Opinions and Civic Duty
00:02:45 - Overpaying Taxes and Government Accountability
00:04:20 - Reason 1: Overpaying Taxes Reduces Personal Impact
00:07:15 - Reason 2: Government Lacks Accountability
00:09:50 - Reason 3: Government Spending Against Moral Codes
00:12:30 - Conclusion and Invitation for Consultation
00:13:45 - Final Thoughts and Episode Wrap-Up
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➤➤➤ To become a client, schedule a call with our team or fill out a contact request form
➤➤ https://www.betterbooksaccounting.co/contact
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
→ → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←
https://www.youtube.com/@betterbooksREI/featured
The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
OverpayingTaxes #CivicDuty #USGovernment #ServingOthers #GovernmentAccountability #MoralCodes #TaxDeduction #GovernmentalOffices #PlannedParenthood #RealEstateInvestmentTips #RealEstateTaxProfessionals #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
Are you considering placing your real estate assets in an S Corporation? Hold off before making that decision! In this episode of the Know Your Numbers REI podcast, host Chris McCormack, CPA, MBA, and Certified Tax Planner, delves into the reasons why putting your real estate in an S Corporation might not be the best choice for you.
From tax implications to legal complexities, he breaks down the crucial factors that could impact your real estate investments negatively. Empower yourself with knowledge to protect your real estate investments and make strategic decisions that align with your financial goals.
Tune in now to make informed choices that can lead to a more secure and prosperous real estate portfolio! And don't forget to leave a five-star rating and review if you find value in this episode and share it with others who can benefit from these insights.
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➤➤➤ To become a client, schedule a call with our team or fill out a contact request form
➤➤ https://www.betterbooksaccounting.co/contact
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
→ → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←
https://www.youtube.com/@betterbooksREI/featured
The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
5CompellingReasons #RealEstateInvesting #SCorporations #DepreciationLossLimitations #CapitalRaisingConcerns #AssetMobilityPurposes #SelfEmploymentTaxMyths #RefinancingChallenges #TaxStrategies #PropertyManagementTips #RealEstateInvestmentTips #RealEstateTaxProfessionals #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack interviews Julie Roy, a seasoned business leader and an experienced real estate investor with several multi-million dollar exits.
Julie shares her wealth of knowledge on building wealth, saving on taxes, and achieving your dreams. 📚💰 She also discusses her experiences in building and selling businesses, as well as her strategies for saving on taxes and achieving financial goals.
Tune in now to gain valuable insights and inspiration from Julie's incredible journey. Don't forget to leave a rating and review if you find value in this episode! 🎧✨
[00:00:10] Building wealth through entrepreneurship.
[00:08:03] Importance of team in business.
[00:09:30] Accountant as long-term wealth partner.
[00:16:51] Passive income through diversified investments.
[00:18:02] Generosity breeds abundance in investing.
[00:23:29] Invest in mentorship and self-improvement.
[00:26:43] Choose mentors wisely, create value.
[00:33:47] Teach children financial literacy.
[00:36:45] Family mission values create success.
[00:40:16] Money is not inherently evil.
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To connect with Julie, visit her website: https://thejulieroy.com/
Connect on Social Platforms:
Facebook: https://www.facebook.com/julie.d.roy.75
Instagram: https://www.instagram.com/thejulieroy/
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➤➤➤ To become a client, schedule a call with our team or fill out a contact request form
➤➤ https://www.betterbooksaccounting.co/contact
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
KnowYourNumbersREI #RealEstateInvesting #PodcastEpisode #JulieRoy #BuildingWealth #FinancialFreedom #RealEstateAgent #Investor #Mindset #Mentorship #FinancialLiteracy #Entrepreneurship #EntrepreneurialJourney #FinancialGoals #MoneyMyths #WealthBuilding
Are you worried about making mistakes with your taxes? No stress – our latest video is here to guide you through the essential steps to help you keep more of your hard-earned money. Taxes can be tricky, but we break it down in plain language, making it easy to understand and apply.
In this episode of the Know Your Numbers REI podcast, Chris McCormack, an MBA, CPA, and a Tax Expert in the real estate industry, shares the five things you need to do before year end to properly prepare for the tax season. He highlights the common mistakes people make with their taxes and encourages proactive planning and meeting with a qualified tax professional to reduce tax expenses.
In this informative episode, he'll equip you with insider strategies and expert tips to establish your financial position. From understanding deductions to optimizing credits, we've got you covered. Don't let tax uncertainties hold you back from financial success.
Tune in now, take charge of your finances, and transform tax season into an opportunity for wealth-building!
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➤➤➤ To become a client, schedule a call with our team or fill out a contact request form
➤➤ https://www.betterbooksaccounting.co/contact
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
→ → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←
https://www.youtube.com/@betterbooksREI/featured
The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
5EssentialSteps #TaxSavings #YearEndTaxPlanning #TaxTips #RealEstateInvestmentTips #RealEstateTaxProfessionals #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack, CPA, MBA, and Certified Tax Planner, dives into the topic of real estate professional, and why it is important for all real estate investors to understand. Chris discusses the four reasons people get into real estate, the tax benefits of being a real estate professional, and how to ensure you are maximizing your tax advantages. If you want to grow your confidence in the real estate area of the tax code and achieve your financial and tax goals, this episode is a must-listen.
Don't forget to leave a five-star rating and review if you find value in this episode and share it with others who can benefit from these insights. Together, let's grow our own economies and contribute to the growth of our nations' economy.[00:01:59] Real estate professional.[00:04:30] Real Estate Professional Status[00:06:47] Material participation in real estate professional status.[00:10:30] Real estate professional qualifications.[00:13:18] Real estate tax qualifications.•••••••••••••••••••••••••••••••••••••••••••••••••••••••••➤➤➤ To become a client, schedule a call with our team or fill out a contact request form➤➤ https://www.betterbooksaccounting.co/contact •••••••••••••••••••••••••••••••••••••••••••••••••••••••••Connect with Chris McCormack on Social MediaFacebook: https://www.facebook.com/chris.mccormack.cpa.mba/ LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/ Instagram: https://www.instagram.com/chrismccormackcpa/ → → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@betterbooksREI/featuredThe Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
In this informative episode, we explore the realm of tax planning and address the pressing question: When is the appropriate time to meet with an accountant? Maximizing your tax planning is crucial for individuals and businesses alike, and having the guidance of a knowledgeable accountant can make a significant difference.
Whether you're an individual looking to optimize your personal finances or a business owner aiming to maximize profitability, this video equips you with the knowledge needed to make informed decisions about your tax planning strategy.
Tune in now and embark on a journey of financial empowerment! Don't forget to follow our Spotify channel for more insightful content on financial literacy, tax planning, and strategies for success.
Thank you for listening to the Know Your Numbers REI Podcast! Your path to financial empowerment begins with each episode.
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
MeetingWithAnAccountant #TaxPlanning #ExpertAdvice #AccountantGuidance #FinancialDecisionMaking #TaxPlanningTips #FinancialEmpowerment #TaxConsultation #RealEstateInvestmentTips #RealEstateTaxProfessionals #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack, a tax expert, MBA, and CPA, discusses the breaking news of Jeff Bezos moving from Washington to Florida and how taxes might have played a role in this decision.
Discover the world of real estate investment and explore the profound impact that taxes can have on the strategic decisions made by investors. Join us as we unravel the complexities of tax considerations and their direct correlation to location choices in the real estate market.
Learn about the tax incentives available for small businesses and why more people are leaving high-tax states like New York and California.
🔍 Key Takeaways:
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Learn how different tax structures influence your bottom line.
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Discover tax-friendly locations that can enhance your investment profitability.
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Gain insights into smart strategies for maximizing tax benefits while minimizing liabilities.
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Understand the latest updates and changes in real estate tax regulations.
Stay tuned for valuable insights and expert advice on navigating the complex world of taxes.
Don't forget to leave a five-star rating and review and share this episode with a friend who could benefit from this important information.
[00:00:43] Moving to low-tax states.
[00:04:53] Taxes impact location and economy.
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
JeffBezos #TaxImpact #LocationChoices #TaxStrategies #PropertyInvestment #FinancialFreedom #RealEstateWealthBuilding #RealEstateInvestmentTips #RealEstateTaxProfessionals #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
Are you ready to discover the incredible advantages of filing jointly on your taxes? Join us in this informative episode where we delve deep into the world of tax benefits for couples.
In this episode of the Know Your Numbers REI podcast, host Chris McCormack dives into the topic of marriage and its impact on tax filing. He discusses the common questions and confusion that arise when one spouse is a real estate investor or entrepreneur while the other is a W-2 earner.
Chris emphasizes the importance of tax and financial education, as well as providing clarity and confidence in making tax decisions. Listeners are encouraged to share the episode with others and leave a five-star rating and review to help spread the knowledge.
In this episode, we'll cover:
🔹 The financial advantages of filing jointly as a couple or family.
🔹 How to maximize tax credits and deductions by filing jointly.
🔹 Real-life examples that illustrate the benefits of this tax strategy.
🔹 Expert tips and considerations for joint filers.
[00:01:31] Marriage and taxes.
[00:05:33] Expanding tax benefits for couples.
[00:08:49] Tax benefits for marriage.
[00:10:22] Medical expense deductions for spouses.
Don't miss out on the potential savings and financial advantages that come with filing jointly. Tune in to our weekly podcast to make informed decisions about your taxes and secure a brighter financial future. Stay updated with our latest tax-saving tips and tricks.
Remember, financial empowerment begins with knowledge, and we're here to help you on your journey to financial success. Join us now and take control of your tax benefits!
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
JointFilingVsSeparateFiling #MaximizeTaxBenefits #StandardDeductions #ItemizedDeductions #TaxEducation #FinancialEducation #RealEstateWealthBuilding #RealEstateInvestmentTips #RealEstateTaxProfessionals #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack welcomes special guest Tim Cornwell, a realtor for eXp Realty and a successful real estate investor.
Tim shares his journey in the real estate industry and offers valuable insights on the importance of keeping money flowing and in motion. He also discusses the concept of failing forward and the role of faith in business.
Don't miss out on this enlightening conversation!
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To connect with Tim, visit his website: https://www.timcornwell.com/my-story
Connect on Social Platforms:
Facebook: https://www.facebook.com/mrtimcornwell
LinkedIn: https://www.linkedin.com/in/mrtimcornwell/
Instagram: https://www.instagram.com/tim.cornwell/
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➤➤ https://www.betterbooksaccounting.co/contact
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
KnowYourNumbersREI #RealEstateInvesting #Podcast #TimCornwell #EXpRealty #RealEstateAgent #Investor #MultifamilyProperties #CommercialRealEstate #Entrepreneurship #FaithInfluence #ChasingPotential #FinancialGoals #MoneyMyths #Currency #WealthBuilding
As a real estate entrepreneur, you've likely mastered the art of property investment, but have you considered the potential benefits of expanding your investment portfolio into the stock market? In this video, we explore the important question: "Should I Invest in the Stock Market as a Real Estate Entrepreneur?"
Chris McCormack, a certified tax expert and MBA in accounting will provide you with valuable insights and expert analysis to help you make an informed decision. Discover the advantages, potential risks, and strategies for diversifying your investments and building wealth in both real estate and stocks. Whether you're new to stock market investing or looking to balance your real estate portfolio, this video offers crucial guidance.
Subscribe to our channel for more financial tips and investment advice to help you make the most of your entrepreneurial journey. Don't miss this opportunity to broaden your financial horizons!
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➤➤➤ To become a client, schedule a call with our team or fill out a contact request form
➤➤ https://www.betterbooksaccounting.co/contact
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
RealEstateEntrepreneur #StockMarketInvestment #RiskManagement #TaxGoals #TaxConsequences #FinancialPlanning #InvestmentDecision #InvestmentStrategies #RealEstateVsStocks #RealEstateWealthBuilding #RealEstateInvestmentTips #RealEstateTaxProfessionals #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
Considering a real estate tax strategy involving Qualified Opportunity Zones? This video is your essential guide on what to look out for when navigating this lucrative investment opportunity.
We'll delve into the intricacies of Qualified Opportunity Zones, discussing key considerations, potential benefits, and the rules you need to be aware of. Whether you're a seasoned real estate investor or just starting in the world of property investment, this information can help you make informed decisions and maximize your tax savings.
Don't miss out on this valuable insight into leveraging Qualified Opportunity Zones for your real estate portfolio.
Subscribe to our channel for more expert real estate investment tips and strategies that can help you achieve your financial goals. Your real estate success story begins here!
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
RealEstateTaxStrategy #QualifiedOpportunityZones #RealEstateInvestment #TaxSavings #OpportunityZoneBenefits #RealEstateFinance #TaxPlanning #PropertyInvestment #RealEstateOpportunities #InvestmentStrategy #TaxIncentives #RealEstateDevelopment #OpportunityZoneRules #RealEstateWealthBuilding #RealEstateInvestmentTips #RealEstateTaxProfessionals #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode of the Know Your Numbers REI podcast, host Chris McCormack, a Certified Tax Planner and MBA in Accounting, dives into the topic of what to look for in an accountant. Whether you're a real estate investor or simply interested in the potential tax savings and avoidance that real estate offers, finding the right accountant is crucial.
Chris discusses the importance of expertise, specialization, and ethical practices when choosing an accountant. If you've been frustrated by the lack of intelligent conversations with your current accountant, this episode will provide valuable insights.
Tune in to learn more and gain confidence in your tax plan and strategy. Don't forget to leave a five-star rating and review if you find this episode helpful!
[00:00:28] Tax savings in real estate.
[00:05:29] Year-round tax planning.
[00:07:39] Testimonials and client relationships.
[00:10:41] Creative tax saving strategies.
[00:13:09] Lack of confidence in tax strategy.
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
FindingTheRightCPA #TaxAdvisor #CertifiedPublicAccountant #Expertise #YearRoundAdvice #Testimonials #EthiscAndMorality #CPASelection #TaxExpert #TaxPro #FinanceExpert #CPAServices #FinancialGuidance #FinancialTips #RealEstateTaxProfessionals #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
Are you concerned about the impending tax code changes and how they might impact your financial situation? In this informative video, we break down into the latest developments in tax legislation that could have a significant impact on your financial situation.
Chris McCormack, a tax expert in finance and real estate, will help you understand the potential changes, how they might affect your income, deductions, and overall tax liability, and what steps you can take to adapt your financial strategy accordingly.
Stay informed and be prepared for the evolving tax landscape in the real estate sector. Subscribe to our channel for more updates on tax law, financial planning, and strategies to help you navigate the complex world of taxation with confidence.
Don't forget to like, share, and hit the notification bell to stay up-to-date on all our latest content.
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Connect with Chris McCormack on Social Media
Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/
Instagram: https://www.instagram.com/chrismccormackcpa/
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
TaxCodeChanges #TaxLawUpdates #TheAmericanFamiliesAndJobsAct #TaxPlanning #BonusDepreciation #BonusStandardDeductions #RenewableEnergyTaxCredits #FinanceTips #TaxStrategies #FinancialPlanning #IncomeTax #TaxRevenue #TaxPolicy #RealEstateTaxProfessionals #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
In this episode, we'll be discussing the five Internal Revenue Service Incentivized Areas that taxpayers can take advantage of. Join us as we unravel the potential opportunities and advantages that these programs offer.
These areas include Real Estate, Business, Technology, Environment, and Charity. Our host will provide insights on how these programs work and offer tips on how to maximize your tax benefits. From stimulating innovation and economic growth to supporting renewable energy and affordable housing, these programs exemplify the power of well-designed tax incentives.
Remember, tax laws can be complex, so always consult with a qualified tax professional to ensure you're maximizing the benefits available to you.
Don't miss this informative episode on the IRS Incentivized Areas!
Chris discusses the concept of profit first and what it can do to your business if you're willing to implement it.
Chris talks about the costs and benefits of setting up an LLC is a state that allows corporate anonymity. He answers the questions of what is corporate anonymity, why people do it and what to look out for. He also discusses the coming changes in regulation that will forever change the way these entities work.
Concerned about the amount you pay in tax? Fill out our pre-screening questionnaire to see if you're a good fit to work with our tax professionals
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Join Chris as he breaks down the different entity structures and why they matter to your real estate business.
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In this episode, Chris discusses the five main reasons you're overpaying the government.
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In this episode, Chris discusses what tax planning is and why every real estate investor should be doing it.
Concerned about the amount you pay in tax? Fill out our pre-screening questionnaire to see if you're a good fit to work with our tax professionals
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Matt Ruttenberg is the founder of SureLI, a life insurance company focused on cover you the right way as well CMO of Life, Inc. Retirement Service, a firm focused on growing your business and decreasing your taxes through the use of a retirement plan.
He sat down with Chris to talk all things finance, FIRE movement and tax savings for business owners.
Connect with Matt on LinkedIn: https://www.linkedin.com/in/mattruttenberg/
Visit the SureLI website to find out more: https://sureli.co/about/
Visit Life Inc. for your retirement plan today: https://lifeincrs.com/evaluator/
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Flint Jamison is the founder of Vestus Capital LLC - a real estate investment firm focused on helping busy people earn passive income through commercial real estate investing.
Connect with Flint on LinkedIn: https://www.linkedin.com/in/flintjamison/
Visit Vestus Capital Website: https://vestuscapital.com/
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Ted Benna is commonly referred to as the "father of 401(k)" because he created and gained IRS approval of the first 401(k) savings plan. Ted has received many citations for his accomplishments.
Ted has also been profiled in the Wall Street Journal, New York Times, Institutional Investors, Pension and Investments, USA Today, Employee Benefit News, HUman Resource Executive, Fortune, Plan Sponsor, Kiplinger, Politico and many other publications. Ted has authored four books including 401(k) for Dummies.
He sat down with Chris to discuss the 401(k) and what many people get wrong about it today.
Check out Ted's website: http://benna401k.com/index.html
Purchase 401k - Forty Years Later: https://www.amazon.com/401k-Forty-Years-Ted-Benna/dp/154564327X/ref=sr_1_3?qid=1668024534&refinements=p_27%3ATed+Benna&s=books&sr=1-3
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Brock Fortner is the Lead Wealth Strategist at Stone Century Financial. Together, he and his team help others reach financial freedom, pay less in taxes and pass on generational wealth. He sat down with Chris to discuss his pursuits and the importance of financial education.
Connect with Brock on LinkedIn: https://www.linkedin.com/in/brockfortner/
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Don Spafford is the Investor Relations Specialist at Happy Camper Capital - a real estate investment group dedicated to the outdoor hospitality industry.
Don started his real estate investing career at 40 years old buying four plexes. After having his first one for about a year he realized he needed to scale bigger and faster to reach his ultimate financial independence goal. He started networking and made great connections that helped him get into some unique opportunities involving large build-to-rent multifamily and also value-add RV Campground syndications.
Interested in investing with Don? Check out the Happy Camper Capital Website: https://happycampercapital.com/
Connect with Don directly on LinkedIN: https://www.linkedin.com/in/don-spafford-5887867/
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For more Content with Chris McCormack and the Better Books team:
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Daniel White is the Founding Principal of Kingdom Equity - a real estate investment firm focused on generating financial and spiritual returns through passive income.
Daniel is also the host of the Kingdom Investor Podcast. Check it out here: https://thekingdominvestor.buzzsprout.com/
Visit Daniel's website: www.thekingdominvestor.com
Connect with Daniel on LinkedIn: https://www.linkedin.com/in/daniel-white-a9490351/---
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Mills Bender is the founder and owner of Mills Knows Bills - a financial consulting firm helping you pay off debt, stop living paycheck to paycheck and reach your financial goals.
Check out Mills on Instagram: @millsknowsbills
Check out Mills' webpage: https://millsknowsbills.com/
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Connecting with Chris on LinkedIn: Chris McCormack CPA, MBA
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Carl Grande is the founder and CEO of Grand Capital Management, a financial management firm focused on helping families and business owners integrate their values and their finances. "Financial Integrity" as I refer to it, is simply the way someone aligns their values to their financial goals and objectives. We make sure there is congruency between a person’s values, and the outcome their finances are producing
Connect with Carl on LinkedIn: https://www.linkedin.com/in/carlgrande/
Visit Grand Capital Mgmt Webpage: https://grandcapitalmgmt.com/
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James Stratton is a I am a United States Air Force Retiree with over 30 years of small business experience as a Realtor, Project Manager, Mediator, Trainer and Public Speaker. He is the Creator of the Stratton Commercial Real Estate Index which helps investors make quick decisions on the value of a property.
Connect with James on LinkedIn: https://www.linkedin.com/in/jamesstevenstratton/
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For more information about tax savings and stewarding your financial situation, be sure to check out the Better Books website and connect with Chris directly
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Mitch is the Co-Founder of Ten27 Group - a Real Estate Private Equity investment and development firm focused on the Midwest and Sun Belt markets. Mithc and his brother are focused on serving God first and doing good for our investors, tenants and communities by achieving strong financial results and creating prime living and working spaces.
He sat down with Chris to discuss his real estate journey.
Check out Mitch on LinkedIn: https://www.linkedin.com/in/mitchrenda/
Visit the Ten27 Group Webpage: https://ten27group.com/
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With Andrew Rauschenberger.
Andrew sat down with Chris to discuss what it takes to differentiate yourself in a crowded business environment
Connect with Andrew on LinkedIn: https://www.linkedin.com/in/andrew-j-rauschenberger-0776bb82/
Check out Andrew's website: https://linked2monetize.com/
Drew White is the founder and CEO of Create Tailwind a financial coaching firm focused on the fed-up business owner and real estate investor. We talk about his Upside Down Way to Build Wealth.
Check out his website here: https://createtailwind.com/
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Chris discusses how one can glorify God in the marketplace through the principle of ownership
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Chris details his five pillars of a life well lived.
Thinking about starting a business? Check out our Better Books Business Launchpad - the tool you need to grow your vision into a sustainable vehicle.
https://betterbooksbusinesslaunchpad.thinkific.com/courses/BBBLP
For more information about tax savings and stewarding your financial situation, be sure to check out the Better Books website and connect with Chris directly
Website: betterbooksaccounting.co CONNECT with Chris on LinkedIn: Chris McCormack CPA, MBA FOLLOW Chris on Instagram: @chrismccormackcpa FOLLOW Better Books on Instagram: @better.books_llc ---
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Brian Kennedy is an Entrepreneur AND Intrapreneur, running his own business while serving those starting their's as well. He serves as the Entrepreneur Ecosystem Executive Director at AMPAC Business Capital, a non-profit focused on getting businesses the funding they need to grow their mission.
Connect with Brian directly on LinkedIn: https://www.linkedin.com/in/brian-kennedy-jr-ampac/
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Chris outlines three fundamentals to building lasting wealth.
Thinking about starting a business? Check out our Better Books Business Launchpad - the tool you need to grow your vision into a sustainable vehicle.
https://betterbooksbusinesslaunchpad.thinkific.com/courses/BBBLP
For more information about tax savings and stewarding your financial situation, be sure to check out the Better Books website and connect with Chris directly
Website: betterbooksaccounting.co
CONNECT with Chris on LinkedIn: Chris McCormack CPA, MBA
FOLLOW Chris on Instagram: @chris_mccormack__
FOLLOW Better Books on Instagram: @better.books_llc ---
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Brian (BK) Lagrange is a Captain the US Air Force. His current endeavors include commercial real estate sales and life insurance advisory and he shared his wisdom with the Know Your Numbers Audience.
Thinking about starting a business? Check out our Better Books Business Launchpad - the tool you need to grow your vision into a sustainable vehicle.
https://betterbooksbusinesslaunchpad.thinkific.com/courses/BBBLP
Interested in the Benefits of Life Insurance? Find some time on Chris's calendar to see if it meets your needs:
https://calendly.com/chris-mccormackcpa/15-minute-c
For more information about tax savings and stewarding your financial situation, be sure to check out the Better Books website and connect with Chris directly
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Apple: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525----
If you're familiar with Chris - you know he leads through faith. This is not something that has always been true. He gave his life to Christ on June 21, 2021 and in this episode he details his walk and the transformation that he has undergone over the past year.
Micah Mattox is the Director of Commercial Insurance at RealProtect - an insurance agency focused on insuring your commercial and multifamily investments. He sat down with Chris to discuss the real estate market, the need for insurance and what investors should be aware of before purchasing insurance.
Starting a business? Check out the Better Books Business Launchpad for everything you need to get up and running. In this 8 module course, we discuss all the steps, systems and process you should implement to avoid the costly mistakes of our past. Save yourself thousands in accounting and legal fees - purchase our course today! https://betterbooksbusinesslaunchpad.thinkific.com/courses/BBBLP
For more information about tax savings and stewarding your financial situation, be sure to check out the Better Books website and connect with Chris directly
Website: betterbooksaccounting.co
CONNECT with Chris on LinkedIn: Chris McCormack CPA, MBA
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The financial situation is uncertain - Chris outlines three things you can do to prepare and protect yourself from a downturn.
Thinking of starting a business? Check out the Better Books Business Launchpad for the systems and processes you need to set yourself up for success:
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Julie is the founder and CEO of Three Keys Investment, host of the Conscious Investor Podcast and writer and speaker and teacher at JulieHolly.com She joined Chris on the Know Your Numbers Podcast to talk real estate, growth and development, seeking counsel and the art of persistence. To find out more about Julie, connect with her on LinkedIn Check out her webpage: julieholly.com
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For more information about tax savings and stewarding your financial situation, be sure to check out the Better Books website and connect with Chris directly Website: betterbooksaccounting.co
CONNECT with Chris on LinkedIn: Chris McCormack CPA, MBA
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---
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Thinking of starting a business? Or maybe you started but you're looking for greater accountability. Maybe you are up and running, with great growth in the future and are here to ensure you have the right systems and processes. THIS EPISODE IS FOR YOU
Chris and the Better Books team recently launched the Better Books Business Launchpad - a 7 module course delivering to you the steps and processes you need to start and grow your business.
In this episode you will learn more about the course and what can be gained from enrolling.
The Better Books Business Launchpad is available exclusively on Thinkific at the link below.
https://betterbooksbusinesslaunchpad.thinkific.com/courses/BBBLP
For more information on business ownership and financial understanding, including but not limited to tax talks, subscribe on all platforms.
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Chris goes through Deuteronomy 8 to discuss the importance of remembering God in our wealth building journey.
Better Books recently released an online course for the beginning business owner. The Better Books Business Launchpad will help you launch and grow your business with actionable steps.
Save yourself thousands in accounting and legal fees by enrolling today
https://betterbooksbusinesslaunchpad.thinkific.com/courses/BBBLP
For more information about tax savings and stewarding your financial situation, be sure to check out the Better Books website and connect with Chris directly Website: betterbooksaccounting.co
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Jon Cofre is a wealth builder and financial representative with Forest Hills Financial Group. He helps people from all walks of life achieve their financial goals. He's also got quite the testimony!
Jon and Chris met over Zoom a few months back and immediately clicked. They soon came to find out they had a lot in common - faith, finance and fitness so Chris welcomed him on the show to share his vision.
Jon touches upon the importance of faith, what he's learned through athletics that he carries with him today and his WHY that drives his spirit of excellence in the financial industry.
Be sure to connect with Jon on LinkedIn: https://www.linkedin.com/in/jon-cofre-638310107/
For more information about tax savings and stewarding your financial situation, be sure to check out the Better Books website and connect with Chris directly Website: betterbooksaccounting.co
CONNECT with Chris on LinkedIn: Chris McCormack CPA, MBA
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Andrew is a Commercial and Multifamily Roofing Specialist and founder of Little Whale Investments. He's also quite the salesman. Andrew shares some of the pain and prosperity he has experienced in his walk with God in the business world.
He opens up about the importance of sharing God's word and your love for God in EVERYTHING you do.
Connect with Andrew on LinkedIn: https://www.linkedin.com/in/andrew-the-national-multifamily-and-commercial-roofer-and-investor/
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For more information about tax savings and stewarding your financial situation, be sure to check out the Better Books website and connect with Chris directly Website: betterbooksaccounting.co
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Tony is the Founder and Relationship Manager of Cor13 Capital, a real estate syndication focused on the commercial real estate industry.
Most importantly, Tony is a man of God.
In this episode Tony and Chris discuss Tony's faith journey, the importance of persistence and how we can use our businesses and social platforms to bring goodness to others.
Connect with Tony on LinkedIn: https://www.linkedin.com/in/anthonystorres/
For more information about tax savings and stewarding your financial situation, be sure to check out the Better Books website and connect with Chris directly Website: betterbooksaccounting.co
CONNECT with Chris on LinkedIn: Chris McCormack CPA, MBA
FOLLOW Chris on Instagram: @chris_mccormack__
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---
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Jonathan Cook is a Business Development Manger at Revolution Rental Management. He is also the host of a new podcast 'The Investing Revolution.'
If you're like me, you probably don't know what that means. So we talked to Jonathan about what he does and the value he provides.
Jonathan is your real estate data guy. He compiles and studies data so you have the information you need to grow your portfolio.
So what did we discuss? EVERYTHING. Jonathan talks about the importance of outsourcing and with that the importance of investing your money into value. Too much of the financial industry is focused on SAVE, SAVE, SAVE. While that might be a good way to secure your money, it won't give you the freedom you deserve, on the time you deserve. So listen to what Jonathan has to share regarding our money mindset and the importance of financial success.
Be sure to check out Jonathan's podcast 'The Investing Revolution'
https://www.youtube.com/channel/UCwGGfuMKC5qr2YuXTVRMvbw
Connect with Jonathan on LinkedIn: https://www.linkedin.com/in/jonathan-cook-a01041142/
For more information about tax savings and stewarding your financial situation, be sure to check out the Better Books website and connect with Chris directly
Website: betterbooksaccounting.co
CONNECT with Chris on LinkedIn: Chris McCormack CPA, MBA
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Tabatha is the founder and CEO of Tabatha Perry Life Coach, Life Coaching for the non 9-5er. She is also the host of 'The Life Edit' Podcast - a podcast that combines faith with mindset shifts.
As a former social worker, Tabatha has seen and heard it all and she uses those experiences to help driven people manage the every day chaos of life. Whether you're an entrepreneur, a mother or someone looking for more, Tabatha is your girl!
Check out her website: https://tabathaperry.coach/podcast
And her podcast! https://tabathaperry.coach/podcast
And give her a follow on Instagram: @tabathaperrylifecoach
For more information about tax savings and stewarding your financial situation, be sure to check out the Better Books website and connect with Chris directly
Website: betterbooksaccounting.co
CONNECT with Chris on LinkedIn: Chris McCormack CPA, MBA
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---
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Apple: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525----
Chris Freeman is an investor, entrepreneur and sales professional based in Portland, OR. He is also the host of the High Tech Freedom Podcast. He brings a unique perspective as he works the W-2 and builds a real estate empire on the side.
We discuss the importance of sales, the benefit of making money and tying it all back to a journey. He's also got some great tips on goal setting and getting your kids involved!
Be sure to check out Chris's podcast 'High Tech Freedom Podcast' and the High Tech Freedom Website
High Tech Freedom Website: https://hightechfreedom.com/
High Tech Freedom Podcast: https://podcasts.apple.com/us/podcast/high-tech-freedom/id1590671171
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For more information about tax savings and stewarding your financial situation, be sure to check out the Better Books website and connect with Chris directly Website: betterbooksaccounting.co
CONNECT with Chris on LinkedIn: Chris McCormack CPA, MBA
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FOLLOW Better Books on Instagram: @better.books_llc
---
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Apple: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525----
Adam Risman is a Commercial Risk Advisor with Risman Insurance Agencies. Being in a family owned business, Adam knows what it takes to be an entrepreneur. He's seen the generations before him operate and grow a small agency into a regional firm in 100 years time. He sat down with Chris to discuss the importance of relationships, navigating risk and some things to consider when going through a growth phase.
For more information on Adam, visit his LinkedIn page: https://www.linkedin.com/in/adam-risman-clcs-ba218172/
For more information on Risman Insurance Agencies, visit their webpage: https://www.risman.com/
For more information about tax savings and stewarding your financial situation, be sure to check out the Better Books website and connect with Chris directly Website: betterbooksaccounting.co
CONNECT with Chris on LinkedIn: Chris McCormack CPA, MBA
FOLLOW Chris on Instagram: @chris_mccormack__
FOLLOW Better Books on Instagram: @better.books_llc
---
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Apple: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525----
Beau Beery is a Content Creator, Author and Multifamily Investor and Broker. He lives and invests in Florida and has a YouTube channel focused on helping you grow and understand your multifamily portfolio.
In this episode we discuss tips for beginning investors, the use of a house hack to get your foot in the door, providing value with little experience and so much more.
Beau has won a handful of awards in the real estate market. If you're interested in learning more from him or about him, check out his YouTube channel: BeauKnowsMultifamily
Beau's YouTube Channel: https://www.youtube.com/c/BeauKnowsMultifamily/featured
Buy Beau's Book: https://www.amazon.com/dp/1735833908/ref=tsm_1_fb_lk
Visit Beau's website: https://beaubeery.com/
For more information about tax savings and stewarding your financial situation, be sure to check out the Better Books website and connect with Chris directly Website: betterbooksaccounting.co
CONNECT with Chris on LinkedIn: Chris McCormack CPA, MBA
FOLLOW Chris on Instagram: @chris_mccormack__
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Apple: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525----
Jeffrey Custer is the founder and CEO of Level Up Courses - a leadership development program focused on ridding the world of toxic leadership.
He and Chris talked about the leadership crisis that we find in the business world.
Even if you think you're a good leader I assure you there is something to learn from this conversation
We talked about how we can improve leadership, the importance of instilling good leadership skills in the younger generations and how we can discern good and bad leadership.
For more information on Jeff, check out his LinkedIn profile: https://www.linkedin.com/in/jeffcusteratlevelupcourses/
Visit the Level up courses website: https://mem3.levelupcourses.co/
For more information about tax savings and stewarding your financial situation, be sure to check out the Better Books website and connect with Chris directly Website: betterbooksaccounting.co
CONNECT with Chris on LinkedIn: Chris McCormack CPA, CTC, MBA
FOLLOW Chris on Instagram: @chris_mccormack__
FOLLOW Better Books on Instagram: @better.books_llc
Subscribe to our channels!
Spotify: https://open.spotify.com/show/21FK4WSAdgzwRq2niiFq7c?si=8e96630d2a774fa9
YouTube: https://www.youtube.com/channel/UCvisblLePw42lYk6z36XY-w
Apple: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525----
Ryan Bakke is a CPA and owner of MLS Consulting PLLC. He sat down with Chris to discuss the tax code and its use in real estate. Check out Ryan on Twitter: @learnlikeaCPA
For more information on tax savings, reach out to Chris and the team at Better Books FOLLOW on Instagram: @chris_mccormack__ CONNECT on LinkedIn: Chris McCormack CPA, MBA VISIT: betterbooksaccounting.co --- Subscribe to our channels! Spotify: https://open.spotify.com/show/21FK4WSAdgzwRq2niiFq7c?si=8e96630d2a774fa9 YouTube: https://www.youtube.com/channel/UCvisblLePw42lYk6z36XY-w Apple: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525
Lee is the founder and CEO of Threefold Real Estate Investing, a commercial real estate investing firm located in Cincinnati, OH investing all throughout the US.
He, however, does not have the most traditional path to real estate investor. Having started in the physical therapy field, he quickly realized there was more opportunity out there for him. He jumped ship and started working in corporate, soon to find out time was a limitation.
And this is where real estate investing was introduced.
Together, with his wife and business partners he has moved from fix n flips to multifamily investing in a short amount of time and gives some of his lessons learned along the way.
On top of all this, he is a loving husband and father and a faithful man of God. We discuss faith, finance and family throughout it all, please enjoy!
For more on Lee, connect with him on LinkedIn: Lee Yoder
Visit Threefold Real Estate Investing: https://threefoldrei.com/
For more information about tax savings and stewarding your financial situation, be sure to check out the Better Books website and connect with Chris directly
Website: betterbooksaccounting.co
CONNECT with Chris on LinkedIn: Chris McCormack CPA, MBA
FOLLOW Chris on Instagram: @chris_mccormack__
FOLLOW Better Books on Instagram: @better.books_llc
Subscribe to our channels!
Spotify: https://open.spotify.com/show/21FK4WSAdgzwRq2niiFq7c?si=8e96630d2a774fa9
YouTube: https://www.youtube.com/channel/UCvisblLePw42lYk6z36XY-w
Apple: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525----
Todd Isberner is a disciple maker and mentor of men who love Jesus.
As the author of 'What Every Man Needs to Know - How to Master Faith, Family, Fitness and Finances' he uses his life's journey to discuss the key topics that will lift a man into the prosperous life promised within the gospel
Outside of his authorship, Todd has served as a radio host fundraising for Christian ministries around the globe and is also creating a course for young men to take action steps to elevate their faith journey.
For more information on Todd, check out his webpage: https://www.toddisberner.com/
Check out his Instagram: @toddisberner
And order his book: https://www.amazon.com/What-Every-Man-Needs-Know/dp/0578429411/ref=sr_1_1?keywords=what+every+man+needs+to+know&qid=1572731164&sr=8-1
For more information about tax savings and stewarding your financial situation, be sure to check out the Better Books website and connect with Chris directly
Website: betterbooksaccounting.co
CONNECT with Chris on LinkedIn: Chris McCormack CPA, MBA
FOLLOW Chris on Instagram: @chris_mccormack__
FOLLOW Better Books on Instagram: @better.books_llc
Subscribe to our channels!
Spotify: https://open.spotify.com/show/21FK4WSAdgzwRq2niiFq7c?si=8e96630d2a774fa9
YouTube: https://www.youtube.com/channel/UCvisblLePw42lYk6z36XY-w
Apple: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525----
Adam Knihtila will find your business 100k in 45 minutes!
In a world of budgets and hyper expense cutting Adam takes a not so traditional approach to helping businesses approach their finances. With his experience in the accounting world - Adam helps clients have the tough conversations around raising prices, outstanding invoices and other processes that will increase cash flow!
He's also quite the content creator.
If you're struggling with your cash flow, or looking to increase your content, this episode is for you!
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For more information about tax savings and stewarding your financial situation, be sure to check out the Better Books website and connect with Chris directly
Website: betterbooksaccounting.co
CONNECT with Chris on LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba-4392b9127/
FOLLOW Chris on Instagram: @chris_mccormack__
FOLLOW Better Books on Instagram: @better.books_llc
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Subscribe to our channels!
Spotify: https://open.spotify.com/show/21FK4WSAdgzwRq2niiFq7c?si=8e96630d2a774fa9
YouTube: https://www.youtube.com/channel/UCvisblLePw42lYk6z36XY-w
Apple: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525----
Clay is the Chief Wealth Strategist at Creative Capitalist - your financial freedom resource. He helps entrepreneurs and real estate investors create, protect and multiply their cash flow so they keep, control and amplify more their hard earned cash in ANY economy.
Clay's got an interesting journey - dropping out of college to help the family business grow to seven figures. During his time selling chocolates, he learned the importance of relationships and investing in yourself. He sat down with Chris to discuss his takeaways and how its helping him in his current venture. We talk: Real Estate, Crypto, Relationships and Investing in Yourself
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For more information about tax savings and stewarding your financial situation, be sure to check out the Better Books website and connect with Chris directly Website: betterbooksaccounting.co
CONNECT with Chris on LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba-4392b9127/
FOLLOW Chris on Instagram: @chris_mccormack__
FOLLOW Better Books on Instagram: @better.books_llc
---
Subscribe to our channels!
Spotify: https://open.spotify.com/show/21FK4WSAdgzwRq2niiFq7c?si=8e96630d2a774fa9
YouTube: https://www.youtube.com/channel/UCvisblLePw42lYk6z36XY-w
Apple: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525----
Brian is a Freelance Cryptocurrency writer who's pieces have been featured on SoFi, Cointelli and Insider. For anyone interested or confused by cryptocurrency this is a great place to start. Brian details the makeup of Bitcoin, why he believes it to be a promising monetary option and what the beginning crypto investor and researcher should do. Be sure to check out Brians pieces and if you're looking to do your own research on the subject here are a few resources Brian mentions The Bitcoin Standard: https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861 Satoshi Nakamoto Whitepaper: https://www.ussc.gov/sites/default/files/pdf/training/annual-national-training-seminar/2018/Emerging_Tech_Bitcoin_Crypto.pdf The Unconfiscatable Conference: https://unconfiscatable.com/ As always, be sure to do your own research before making any financial decisions --- For more information about tax savings and stewarding your financial situation, be sure to check out the Better Books website and connect with Chris directly Website: betterbooksaccounting.co CONNECT with Chris on LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba-4392b9127/ FOLLOW Chris on Instagram: @chris_mccormack__ FOLLOW Better Books on Instagram: @better.books_llc --- Subscribe to our channels! Spotify: https://open.spotify.com/show/21FK4WSAdgzwRq2niiFq7c?si=8e96630d2a774fa9 YouTube: https://www.youtube.com/channel/UCvisblLePw42lYk6z36XY-w Apple: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525
Yonah is the Cost Seg King! And a renowned LinkedIn Connector
On top of that, he runs his own podcast and has a wealth of knowledge in the content creation world.
If you're thinking about starting a podcast, this is the one for you! If you're looking for real estate tax savings, this one is for you! If you are looking to get started in the business world, this one is for you!
We discuss the importance of content creation, his key success factor to ALL business, and why real estate investors need to be better educated on Cost Segregation
As a CPA firm, Better Books can attest to the power of cost segregation and implementing it as a strategy into your real estate firm. That being said, be sure to contact your tax advisor before making any monetary decisions
For more information on Yonah, be sure to check out his podcast 'Weiss Advice' available on all platforms and connect with him on LinkedIn
Yonah's Podcast: https://podcasts.apple.com/us/podcast/weiss-advice/id1515387561
Yonah's LinkedIn: https://www.linkedin.com/in/cost-segregation-yonah-weiss/
Yonah's Instagram: https://www.instagram.com/yonahweiss/?hl=en
For more information about tax savings and stewarding your financial situation, be sure to check out the Better Books website and connect with Chris directly
Website: betterbooksaccounting.co
CONNECT with Chris on LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba-4392b9127/
FOLLOW Chris on Instagram: @chris_mccormack__
FOLLOW Better Books on Instagram: @better.books_llc
Subscribe to our channels!
Spotify: https://open.spotify.com/show/21FK4WSAdgzwRq2niiFq7c?si=8e96630d2a774fa9
YouTube: https://www.youtube.com/channel/UCvisblLePw42lYk6z36XY-w
Apple: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525
Don't think real estate is for you? Think Again!
Matt Picheny is the owner of Picheny - your backstage guide to passive investing.
His journey to the real estate world is not the traditional one, which is why we loved having him on the show! Prior to investing in real estate Matt starred on Broadway, seeking out the arts and culture atmosphere of New York City.
After getting kicked out of his apartment, Matt found himself in need of a place to live. He stumbled across someone selling a unit in Manhattan and sold it for over 4X his initial investment
That's all it took for him to know real estate was the place to be.
In this episode we cover all the bases
-How Matt went from Broadway to Real Estate in the most unconventional route to syndication status
-Matt's tips for those living in higher cost areas
-Matt's journey as an author and tips he has for those looking to write
And so much more!
Be sure to check out Matt's new book 'Backstage Guide to Real Estate'
https://picheny.com/backstage-guide/
Learn more about Matt and his firm on his website:
https://picheny.com/about/
Connect with Matt on LinkedIn: https://www.linkedin.com/in/picheny/
If you enjoy this episode and would like to hear more of it, be sure to subscribe and review on all platforms!
Apple: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525
YouTube: https://www.youtube.com/channel/UCvisblLePw42lYk6z36XY-w
Spotify: https://open.spotify.com/show/21FK4WSAdgzwRq2niiFq7c?si=0afd1d9014624a06
If you'd like to learn more about Chris, be sure to connect with him on LinkedIn and Instagram:
LinkedIn: Chris McCormack CPA, MBA
Instagram: @chris_mccormack
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If you're looking to save taxes now or in the future, be sure to reach out to the team at Better Books!
betterbooksaccounting.co
Murray is THE Debt Buster. Having gone through life with a Keeping Up with the Jones's mentality, Murray decided enough was enough and took it upon himself to get out of debt.
He now finds himself DEBT FREE and in a position to help others.
What's great about Murray is his approach is totally replicable and does not require a strict budget or lack of vacation time.
Tune into this episode to find out more!
Connect with Murray on LinkedIn: https://www.linkedin.com/in/murraybeaulieu/
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If you like this episode and would like to hear more like it, be sure to subscribe, rate and review on all platforms!
Youtube: https://www.youtube.com/channel/UCvisblLePw42lYk6z36XY-w Spotify: https://open.spotify.com/show/21FK4WSAdgzwRq2niiFq7c?si=38f2e59f3472402b
Apple: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525
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If you'd like to connect with Chris, do so on LinkedIn and Instagram:
LinkedIn: Chris McCormack CPA, MBA
Instagram: @chris_mccormack__
And be sure to visit the Better Books website for all you tax planning needs: betterbooksaccounting.co
Brad Abbott is a former semi-professional basketball player who, after a life threatening industry, found himself in demand of life insurance.
From there he discovered how versatile this field was, especially for people looking for a tax free future.
In this episode he details why someone might consider life insurance over a traditional retirement of college funding account.
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Stressed about tax season? Better Books will serve all your tax needs.
Connect with Chris McCormack on LinkedIn, Instagram or through email and we'll get your running through tax season as a breeze.
LinkedIn: Chris McCormack CPA, MBA
Instagram: @chris_mccormack__
Email: chris@betterbooksaccounting.co
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If you like this episode and would like more of it, be sure to leave us a rating and review! It helps in reaching more followers just like you.
Spotify: https://open.spotify.com/show/21FK4WSAdgzwRq2niiFq7c?si=7638edcfd3234bd9
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Apple: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525
KAYR is an investor, speaker, business strategist and life coach. He is the co-founder of KAYJAY Consulting, a real estate coaching platform focused on beginning investors.
In this episode, KAYR details some of his keys to success. How he overcame poverty and used the education system to set odds in his favor and what he believes every beginning investor needs to hear.
If you're interested in hearing more about KAYR and what he's got going on, check out his website kayjayconsulting.net
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Stressed about tax season? Better Books will serve all your tax needs.
Connect with Chris McCormack on LinkedIn, Instagram or through email and we'll get your running through tax season as a breeze.
LinkedIn: Chris McCormack CPA, MBA
Instagram: @chris_mccormack__
Email: chris@betterbooksaccounting.co
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If you like this episode and would like more of it, be sure to leave us a rating and review! It helps in reaching more followers just like you.
Spotify: https://open.spotify.com/show/21FK4WSAdgzwRq2niiFq7c?si=7638edcfd3234bd9
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Apple: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525
Chad Griffiths is an industrial real estate investor with NAI Commercial Real Estate
In today's episode we dive into his history with the industrial real estate market, an underserved and high opportunity market to consider in the year ahead
Topics discussed:
-Hot industrial investing markets to look for
-What to look for when considering industrial investing
-The benefits of being an expert in one market or one area
Be sure to check out Chad's Youtube page and Connect with him on LinkedIn
YouTube: https://www.youtube.com/channel/UCRc7fHYWp9ThYaReiz8jhyQ
LinkedIn: https://www.linkedin.com/in/chadgriffiths/
If you like this episode and would like more of it, be sure to subscribe on all platforms
Spotify: https://open.spotify.com/show/21FK4WSAdgzwRq2niiFq7c?si=4f5d41c0eb814655
YouTube: https://www.youtube.com/channel/UCvisblLePw42lYk6z36XY-w
Apple: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525
Sandhya Seshadri is a multifamily investor and syndicator at MultiFamily4You.com
Her path to wealth is not the most traditional - she came from a household income of $60 a month to owning large commercial real estate investments.
Sandhya details some of the mindset shifts and strategies she's learned through real estate investing
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If you enjoy this episode and would like to hear more like it, be sure to subscribe on all platforms
YouTube: https://www.youtube.com/channel/UCvisblLePw42lYk6z36XY-w
Spotify: https://open.spotify.com/show/21FK4WSAdgzwRq2niiFq7c
Apple: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525
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Stressed about tax season? No need - get all your tax questions answered and plan for the year ahead with Better Books.
Chris McCormack helps real estate investors decrease their tax burden through strategy and planning.
Reach out to him today
Email: chris@betterbooksaccounting.co
Instagram: @chris_mccormack__
LinkedIn: Chris McCormack CPA, MBA
Today's episode is with Earl Murray
Earl is THE Entrepreneur's Accountant - As the president of his own accounting and bookkeeping firm, Earl helps entrepreneurs and business owners grow their financial strength. Through accounting, bookkeeping and basic financial strategies, Earl has helped hundreds of clients grow their profits and their mission. In this episode we discuss the importance of a greater purpose, insights into entrepreneurship and why entrepreneurship is not for everyone.
Be sure to check out Earl's webpage: https://www.theentrepreneursaccountants.com
And follow him on all things social
Instagram: @etmurrayiii
Facebook: https://www.facebook.com/TheEntrepreneursAccountants/
LinkedIn: https://www.linkedin.com/in/etmurrayiii/
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Stressed about tax season? Better Books will serve all your tax needs.
Connect with Chris McCormack on LinkedIn, Instagram or through email and we'll get your running through tax season as a breeze.
LinkedIn: Chris McCormack CPA, MBA
Instagram: @chris_mccormack__
Email: chris@betterbooksaccounting.co
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If you like this episode and would like more of it, be sure to leave us a rating and review! It helps in reaching more followers just like you.
Frank is an accountant by birth! Don't go running so soon.
He's got an electric personality and an even greater perspective
He shared his struggles with the accounting profession, one that fosters an environment of grind and opens the door for burnout. He shared his insights into the importance of meaningful work and what we can do to avoid burnout.
Today's topics include:
- The need for balance
- Machine Learning and AI's effect on the accounting industry
- Generational Differences in the workplace
And so much more
Be sure to check out Frank's website and his courses to discover more about him and yourself!
Frank's website: https://frankcastillocpa.com/
Connect with Frank on LinkedIn: https://www.linkedin.com/in/frank-castillo-cpa/
If you enjoy this content, and would like to hear more of it, be sure to leave us a review and subscribe on all platforms!
YouTube: https://www.youtube.com/user/Chris81696/featured
Spotify: https://open.spotify.com/show/21FK4WSAdgzwRq2niiFq7c?si=ba6c1291ed3b4b25
Apple: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525
Better Books Website: betterbooksaccounting.co
Connect with Chris:
Instagram: @chris_mccormack__
LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba-4392b9127/
Email: chris@betterbooksaccounting.co
Aharon is a Commercial Real Estate investor and United States Air Force veteran. He is the owner of All in Homes LLC and host of the Military Real Estate Investing Hour on Clubhouse.
As a former member of our military, Aharon is on a mission to grow the financial education of our armed forces.
In this episode we discuss
- Bringing real estate knowledge and personal finance strategies to the armed forces
- The importance of education and seeking out knowledge
- The Entrepreneurial Mindset and all it comes with
Aharon also talks broadly about the importance of a why.
Be sure to check out all the good he is up to with the links below.
Aharon's website: allinhomes.com
The Military Real Estate Investing Hour every Wednesday on Clubhouse (5:30 pm EST)
Aharon's real estate meetup every Thursday at 7 pm EST
https://www.meetup.com/all-in-on-real-estate-meetup/
Connect with him on LinkedIn: https://www.linkedin.com/in/aharon-goins/
If you like this show and would like more of it, be sure to leave us a rating and review on all platforms
Youtube: https://www.youtube.com/channel/UCvisblLePw42lYk6z36XY-w
Spotify: https://open.spotify.com/show/21FK4WSAdgzwRq2niiFq7c
Apple Podcasts: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525
*The insights provided on this show are educational in nature and not intended to replace traditional investment advice. Be sure to reach out to a qualified advisor before making any monetary decisions.
Really Chris? Is this appropriate? YES!
For far too long we've gotten this scripture wrong. We associate it with having and raising kids. Yes, that's admirable and encouraged but what if God was calling us to something else?
In today's Know Your Numbers Episode, Chris details what he believes God was calling us to do when he said 'Be Fruitful and Multiply'
If you enjoy this show and would like to hear more like it, be sure to subscribe, like and review so we can reach a larger audience just like you.
Youtube: https://www.youtube.com/user/Chris81696/featured
Spotify: https://open.spotify.com/show/21FK4WSAdgzwRq2niiFq7c?si=960425249f6746c3
Apple Podcasts: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525
Be sure to connect with Chris directly on Instagram, LinkedIn and email
Instagram: @chris_mccormack__
LinkedIn: Chris McCormack CPA, MBA
email: chris@betterbooksaccounting.co
Ryan is the Owner and Managing Member of the Pulice Group, a tax and accounting firm based in the Washington DC / Baltimore Area focused on tax strategies for real estate investors.
In today's episode we discussed:
- The Need for Tax Planning
- Strategic Business Structures
- Tax Strategies for Real Estate Investors
- And so much more!!
I learned quite a bit and trust that you will too. If you're interested in learning more about Ryan, visit his webpage: thepulicegroup.com
If you enjoy the show, and would like to hear more of it, it would mean the world if you subscribed on all platforms and left us a 5 star rating and review.
YouTube: https://www.youtube.com/channel/UCvisblLePw42lYk6z36XY-w
Spotify: https://open.spotify.com/show/21FK4WSAdgzwRq2niiFq7c?si=9606ea82d2fa40db
Apple: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525
If you're looking for accounting and bookkeeping or business strategy help, visit our webpage or reach out to Chris directly
betterbooksaccounting.co
chris@betterbooksaccounting.co
You often hear people say "Money is the root of all evil." And this can be discouraging, especially when you have good intentions. So what does scripture actually say about the evilness of money?
Tune in to find out.
Be sure to like, subscribe and share our show on all platforms!
YouTube: youtube.com/channel/UCvisblLePw42lYk6z36XY-w
Apple Podcasts: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525
Spotify: https://open.spotify.com/show/21FK4WSAdgzwRq2niiFq7c?si=dce99259d5074474
For more information on the Wealth Building Principles of the Bible, tune into the episode linked below
Spotify: https://open.spotify.com/episode/0lHppeVOE3f0TTThb48pIx?si=GO-yoP6VQF6HqXmNjRrFbQ
YouTube: https://youtu.be/z8xDCR1ku9Y
Apple Podcasts: https://podcasts.apple.com/us/podcast/episode-46-7-wealth-building-principles-of-the-bible/id1548255525?i=1000544315155
Dan Lewkowicz is the Director of the Lewkowicz Group at Encore Investment Services, Founder and CEO of the CRE Pro Course and a House Hacking Connoisseur.
In today's episode we discuss:
- Dan's House Hacking Experience
- Tax Free Living through House Hacking
- Financing options for entrepreneurs and self-employed
- Using the IRS Tax Code to build and keep wealth.
- Teaching Your Kids to Run and Grow a Business
Be sure to visit Dan's website: https://danontop.com/
Email Dan: dan@danontop.com
Text Dan: 248-943-2838
Purchase the CRE Pro Course: CREPROCourse.com
If you like this episode and would like to hear more of it, be sure to leave us a rating and review! Subscribe to our podcast with the links below and help us grow our audience!
Spotify: https://open.spotify.com/show/21FK4WSAdgzwRq2niiFq7c?si=41b830b0fa194792
Apple Podcasts: https://podcasts.apple.com/us/podcast/know-your-numbers-with-chris-mccormack/id1548255525
Youtube: https://www.youtube.com/channel/UCvisblLePw42lYk6z36XY-w
John is the founder and CEO of StarVox Capital, a mortgage lending business out of Bloomfield, CT.
In this week's Know Your Numbers Episode, we discuss John's history in the lending business, what he's learned about real estate and the importance of networking.
Topics include:
- The Mortgage Lending Business
- What lenders look for in a mortgage transaction
- Knowing Your Numbers in Fix n Flips
- Post-recession Changes in the Lending Business
- Getting into Real Estate Through Self-Employment
- The Importance of Networking
- And so much more!
If you like this episode and would like to hear more of it, be sure to leave us a rating and review! Subscribe to our podcast with the links below and help us grow our audience!
Apple Podcasts:
Spotify:
YouTube: https://www.youtube.com/channel/UCvisblLePw42lYk6z36XY-w
Last week we discussed the 7 Wealth Building Principles of the Bible. Today we look at whether or not wealth building is spiritual.
Building wealth and participating in the economy is in part a spiritual endeavor in the fact that it requires relationship with your fellow man. In this episode Chris details the spirituality aspect of the marketplace and the requirement for faith.
Better Books is your one stop shop accounting and bookkeeping. Should you need more financial organization, should you be looking for a remote CFO or just need some more accountability in your life we can provide you with your need. Be sure to visit our website betterbooksaccounting.co or email Chris at chris@betterbooksaccounting.co for further details.
If you enjoy this content, please be sure to leave a rating and review! Subscribe, like and follow our content on all things social media.
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Chris details 7 wealth building principles of the Bible.
Money is the most talked about subject in the Word of God. People estimate upwards of 800-1000 references of money alone! God wants us to understand money and for good reason, it can be one of the biggest determinants from reaching your God given purpose and abilities.
In today's episode we discuss 7 key principles of building wealth in the Bible. While it would be near impossible to get everything God says about money into an episode, we outline our favorites here:
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Give
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Emergency Fund
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Delayed Gratification
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Service
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God Over Money
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Seek Counsel
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Taxes
The advice in this podcast is not to be seen as personal investment advice, be sure to seek advice from those you trust before making any decisions with your money
If you're looking for more wealth building strategies, either in business or personal, be sure to reach out to Chris directly: chris@betterbooksaccounting.co
Follow Chris on Instagram: @chris_mccormack__
Connect with Chris on LinkedIn: Chris McCormack CPA, MBA
Visit our website: betterbooksaccounting.co
Carlyle is the Chief Investment Officer of Johnston Group Development Inc. a real estate development firm based in central Florida.
After about 5 years in the corporate banking and finance world, Carlyle decided to take matters into his own hand and start a real estate investment firm. Today, he finds himself as the CIO of the Johnston Group Development and Construction Company, a real estate development and construction firm who serves the land development process from start to finish.
In this episode we discuss:
- Creating a lasting legacy
- The similarities and differences of real estate and the stock market
- Transforming undervalued properties into their highest and best use
- Buying based on Margin
- And so much more!
Be sure to tune into the full episode to find out why Carlyle loves real estate and his personal finance tips for any beginning investor.
Be sure to connect with Carlyle on LinkedIn: https://www.linkedin.com/in/carlyle-tiller/
Should you want to reach out to Carlyle directly, he can be reached via email at carlyle@johnstongroupinc.com
Chad Bykerk is an age group IronMan competitor and triathlon coach with Mauna Endurance. He and Chris competed together at IronMan Waco where Chad placed 1st overall in the 25-29 age group, sealing his world championship spot for IronMan Kona.
This was a fruitful conversation with so much triathlon wisdom including:
- How and why Chad fell in love with endurance training
- Chad's swim background and how he uses it to boost his performance
- Why endurance sports are popular among those who have struggled
- The need for balance in an athlete's life and the importance of enjoying the offseason
Check out Chad's instagram page and the Mauna Endurance team page as well as his book and podcast recommendations for getting started in triathlon.
- Coaching page - https://www.maunaendurance.com/chad-bykerk
- Instagram: Cbykerk
Chad's Book Recommendations
- The Triathletes Training Bible (Author: Joel Friel)
- Fast Track Triathlete (Author: Matt Dixon)
- The Well Built Triathlete (Author: Matt Dixon)
- Triathlon Swimming: Master Open Water Swimming (Author: Gerry Rodrigues)
Chad's Podcast Recommendations
- Greg Bennett Show - Triathlon Focused Podcast
- Purple Patch - Triathlon Focused Podcast
Over the weekend, Chris participated in the Manchester City Marathon and posted a time of 2:59:24. This time was enough to qualify for Chris's home city marathon The Boston Marathon. While the accomplishment was great, he has some key takeaways that will help others run the race they set out for.
Key Points:
- Pace Yourself
- Run Your Race
- Confidence and Humility
- God's Grace
If you enjoy the show, be sure to leave us a rating and review. If you are new here and got value, be sure to share it with a friend. It helps in growing out audience.
Be sure to connect with Chris on Social Media:
Instagram: @chris_mccormack
LinkedIn: Chris McCormack CPA, MBA
Facebook: Chris McCormack
Chris continues the topic of endurance with a discussion on running. Be it increased creativity or ease of progress tracking, running is a great way to get and stay in shape and cultivate the mind while doing so.
Topics include
- Increased Creativity / Mediation
- Social Opportunity - Run and Grub Running Club
- Tracking Progress - Increasing Distance and Speed
- Low Cost of Entry
- Opportunity to get Outside
Be sure to subscribe to the show and provide your feedback. If you like the show, share it with a friend and leave us a five star rating and review!
Connect with Chris on Social Media:
Instagram: @chris_mccormack__
LinkedIn: Chris McCormack CPA, MBA
Facebook: Chris McCormack
Chris discusses his biggest takeaways from this weekend's IronMan event.
Chris competed in IronMan Waco and finished with a time of 10:51:03, good for 4th in his age group and 29th overall.
In this week's podcast he discusses a few of his biggest takeaways from the race and the months that led up to it.
Please enjoy.
For more details on Chris, connect on social media
Instagram: @chris_mccormack__
Facebook: Chris McCormack
LinkedIn: Chris McCormack CPA, MBA
What is the cost of striving for ultimate safety? Chris dives into our need for safety and security and why it may be leading us down a harmful path
- The definition of safety
- Evolutionary instincts guiding our behaviors
- The need for personal responsibility.
If you enjoy this episode and would like to hear more of it, leave us a rating and review. If you have a topic you would like to hear discussed be sure to reach out on all platforms
LinkedIn: Chris McCormack CPA, MBA
Facebook: Chris McCormack
Instagram: @chris_mccormack__
Chris runs a solo episode and discusses the importance and necessity of self-leadership.
We live in some crazy times and good leaders are needed more than ever. These are some of the qualities that stick out as integral to being a good leader.
Topics discussed:
- Accountability
- Honesty
- Patience
- Humility
If you got value from this please leave a rating and review and be sure to share it with a friend.
Connect with Chris on social media:
Instagram: @chris_mccormack__
LinkedIn: Chris McCormack CPA, MBA
Facebook: Chris McCormack
Tony is Chris's IronMan Coach who has run close to 100 marathons and holds a Guinness World Record for fastest indoor IronMan.
In this episode we discuss
- Tony's Endurance Journey
- Choosing a Diet
- Guinness World Record
- UtraMan and what's next
If you like this episode be sure to like, share and review. Subscribe to our Youtube and Spotify channel as well as our iTunes page.
TO learn more about Tony follow eventHorizon.tv on all platforms.
https://www.eventhorizon.tv/
Tony's podcast: https://podcasts.apple.com/us/podcast/the-endurance-experience-podcast/id1462408148
Like EventHorizon on Facebook: https://www.facebook.com/EventHorizon.TV/
Follow EventHorizon on Twitter: https://twitter.com/EventHorizonTV
James Patrick is a police officer, ultramarathon runner and husband to be. He and I connected after he posted a picture of himself finishing a 46 mile race in a shared Facebook Group. Running that race alone catches my attention but what really got me is the fact it came after a recovery from a neck and back injury that put him out for 7+ months.
In this episode we discuss:
- James's motocross injury
- His battle with Cancer
- His love for running - where it started, what it does
- His mindset
- His profession as a police officer
Tune in to find out more about James and his journey. Be sure to add him on Facebook.
If you or someone you know has an empowering story they'd like to share, connect with Chris on Facebook, Instagram or LinkedIn
Instagram: @chris_mccormack__
Facebook: Chris McCormack
LinkedIn: Chris McCormack CPA, MBA
If you got something out of this episode and would like to hear more like it be sure to leave us a rating and review so others can find us in the apps!
Chris dives into the power of decision making. This discussion is based off Tony Robbins' book 'Awaken the Giant Within'
- The three decisions that control your destiny
- How to make better decisions
- Learn from your decisions
- Enjoy making decisions
If you like this episode and want to hear more like it, be sure to leave a rating and review. If you have suggestions on what we can do to improve the show, reach out to Chris directly
Instagram: @chris_mccormack__
LinkedIn: Chris McCormack CPA, MBA
Facebook: Chris McCormack
Connor Mann is a project engineer in construction out of Iowa. Born a committed worker, he quickly realized he was dedicating all his time and efforts to work at the expense of his health and wellness.
Through the help of his brother, and many others, he was inspired to make a change in June of 2020 and in August 2021 he completed an IronMan Triathlon. He shared his story in today's episode.
Topics Covered:
- Do the possible
- If not now, when
- Leading Others
- Focus on Today
- The Importance of Joy
Follow Connor on Instagram: @c_mann50
For more content just like this, be sure to subscribe to the podcast and leave a rating and review!
For more on Chris
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John Krause is a real estate professional who currently finds himself in the lending industry. In this episode, we discuss John's always changing career path, his battle with cancer and ability to take risk.
If you enjoy this episode, be sure to share it with a friend and leave us a rating and review.
Be sure to connect with John on Instagram, LinkedIn and Facebook and please consider donating to his cancer foundation: Team John Foundation.
Chris details 5 things he has learned in his training thus far and takes you through the thought process that has come up in recent weeks.
The 5 things:
Commit to Something
Focus in the Present
You can't please everyone
Growth in one area leads to growth in another
Seek Counsel
If you got something out of it, please leave a rating and review, it helps get more people listening to the show.
Be sure to connect with Chris on Social Media:
Instagram: @chris_mccormack__
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LinkedIn: Chris McCormack CPA, MBA
Chris takes back the mic and releases a solo episode on patience.
Galatians 6:9 - Do not grow weary in doing good, for in due season we will reap if we do not give up.
Topics Covered:
Patience
Persistence
Avoiding Complacency
If you got something out of the episode, be sure to leave a rating and review. If you have any interest in joining Chris for a conversation reach out to him on social!
LinkedIn: Chris McCormack CPA, MBA
Instagram: @chris_mccormack__
Facebook: Chris McCormack
Marc is a businessman, author and executive coach. After 20+ years in the produce business he went off on his own, coaching personalities to the tune of 4x heavyweight boxer Evander Holyfield and professional golf legend Robert Karlsson. Tune in to find out who he's looking to coach next, you might be surprised.
Topics Covered:
Beliefs, Limiting Beliefs and Finding Meaning
Overcoming Addiction
Marc's run in with Whitney Houston
And so much more!
Marc has gifted a free copy of his book 'The Wisdom Journal' to all listeners. Follow the link and sign up to receive yours!
http://wisdomjournal.org/
If you enjoy the episode and want more of it we would love a rating and review, it helps us work the algorithm! If you'd like to find out what it takes to be a guest, reach out to Chris directly: chris.mccormackcpa@gmail.com
Be sure to Connect on Social Media
Facebook: Conversations with Chris
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LinkedIn: Chris McCormack CPA, MBA
So often we can be crippled by the thoughts of others. In today's episode Chris discusses the importance of mindfulness when it comes to comparing yourself to others and what can be done to mitigate it.
Topics Covered:
Pride
Envy
Ego
Comparison
Joy
If you enjoy the show, leave a rating and review! Be sure to follow Chris on all things social
Instagram: @chris_mccormack__
Facebook: Chris McCormack, https://www.facebook.com/ConversationsWithChris63
LinkedIn: Chris McCormack CPA, MBA
Every problem has a solution and today Chris discusses the steps to assessing, addressing and progressing on the problems you're facing
Be sure to connect with Chris and the Conversations with Chris team
LinkedIn: Chris McCormack CPA, MBA
Facebook: https://www.facebook.com/ConversationsWithChris63
Instagram: @chris_mccormack__
If you'd like to reach out to Chris via email: chris.mccormackcpa@gmail.com
Have a blessed week!
In today's episode, we discuss the idea of consequences and the effects of our decisions.
Topics Include:
Decision Making
Consequences
Relationships
Be sure to connect with Chris on Social Media
Facebook: Chris McCormack
Instagram: @chris_mccormack__
LinkedIn: Chris McCormack CPA, MBA
Like Conversations with Chris on Facebook: https://www.facebook.com/ConversationsWithChris63
Tune into season 2, episode 2 as Chris discusses habits, instinct and addiction.
Topics Covered:
Addictive Personality
Productive vs Destructive Habits
5 Habits that best serve Chris
If you enjoyed, leave a rating and review.
Be sure to Connect with Chris on Social Media:
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Season 2 starts off with a discussion on Ego.
Topics Discussed:
Ego = Edging God Out / Self-Limiting Beliefs / Depression, Suicide
If you received value, please leave a rating and review. It helps grow the podcast and allows potential listeners to find us.
Follow Chris on Instagram: @chris_mccormack__
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Chris wraps up his discussion on Jordan Peterson's 12 Rules for Life with Rule 12 - Pet a Cat when you Encounter one on the Streets
Topics Covered:
Gratitude
Peace
Joy
For more information on Chris
Follow him on Instagram: @chris_mccormack__
Connect on LinkedIn: Chris McCormack CPA, MBA
Like The Chris McCormack Show on Facebook: https://www.facebook.com/TheChrisMcCormackShow
Thank you all for listening, if you enjoyed please give a rating and review
Chris details his biggest takeaways from this weekend's Pat Griskus Triathlon
Thank you all for listening, please be sure to leave a rating and review!
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Chris details Rule 11 of Jordan Peterson's 12 Rules for Life
Topics Covered:
- The need for risk taking
- Masculinity
- Decreasing Judgement
Be sure to connect with Chris on social media
Instagram: @chris_mccormack_cpa
LinkedIn: Chris McCormack CPA, MBA
Facebook: Chris McCormack
Chris discusses the importance of precision in relationships, business and finances. Rule 10 of Jordan Peterson's 12 Rules for Life.
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Chris depicts Rule 9 of Jordan Peterson's 12 Rules for Life - Assume the Person you are Listening to Might Know something you do not.
Listening can be tough, we are always looking to share, solve and save. In this episode, we learn the importance of listening to others and letting them share their thoughts. Please enjoy!
Follow Chris on Instagram: @c_mack28
Connect with Chris on LinkedIn: Chris McCormack CPA, MBA
Like The Chris McComack Show on Facebook: https://www.facebook.com/TheChrisMcCormackShow
Chris reflects on Jordan Peterson's 8th Rule For Life - Tell the Truth - or, at least, Don't Lie
If you like this episode, please leave us a review! If you want to learn more or have something to share, reach out to Chris directly
Instagram: @c_mack28
LinkedIn: Chris McCormack CPA, MBA
Like us on Facebook: The Chris McCormack Show.
Thank you all for listening, dream big!
Chris details Rule 7 of Jordan Peterson's 12 Rules for Life - Pursue what is Meaningful, not what is Expedient.
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Chris dives into Jordan Peterson's 6th Rule for Life - Set Your House in Perfect Order Before you Criticize the World.
Be sure to follow Chris on Instagram: @c_mack28
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Chris reflects on Jordan Peterson's 5th Rule of 12 Rules For Life - Don't Let Your Children Do Anything That Makes You Dislike Them. He looks back on his childhood and some of the things he learned along the way. Please enjoy.
Follow Chris on Instagram: @c_mack28
Connect with Chris on LinkedIn: Chris McCormack CPA, MBA
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Like The Chris McCormack Show on Facebook: https://www.facebook.com/TheChrisMcCormackShow
In a world where comparisons run deep, it is important to take stock of yourself to see where you can improve. Jordan Peterson's 4th Rule serves as a reminder of this.
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Like The Chris McCormack Show on Facebook: https://www.facebook.com/TheChrisMcCormackShow
Follow Chris on Strava to stay up to date with his Ironman training: Chris McCormack
Chris recently signed up for the Ironman Triathlon in Waco, TX. It will be taking place on October 23, 2021. Having never competed in a triathlon, it was not an easy decision. In today's episode, he details his thought process and some of the challenges he faced when making the decision. He also discusses some of his goals and lessons he hopes to learn along the way. Please enjoy.
For updates on training and lifestyle, follow Chris on Instagram: @c_mack28
Connect with Chris on LinkedIn: Chris McCormack CPA, MBA
Follow Chris on Strava: Chris McCormack
Chris discusses Rule 3 of Jordan Peterson's 12 Rules for Life.
Be sure to like The Chris McCormack Show on Facebook
Follow Chris on Instagram: @c_mack28
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Chris explores Jordan Peterson's 2nd Rule for Life - Treat Yourself Like Someone You are Responsible for Helping.
Be sure to like The Chris McCormack Show on Facebook: https://www.facebook.com/TheChrisMcCormackShow/
Follow Chris on Instagram: @c_mack28
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Part 1 of a 12 Part Series where Chris explores Jordan Peterson's 12 Rules for Life.
Rule 1 - Stand up Straight with your Shoulders Back
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Connect with Chris on LinkedIn: Chris McCormack CPA, MBA
Chris introduces the coming series where he will reflect on each of Jordan Peterson's '12 Rules for Life.'
To stay up to date with Chris and all that he has to share, follow him on Instagram or connect on LinkedIn using the handles below.
Instagram: @c_mack28
LinkedIn: Chris McCormack CPA, MBA
Chris details some of his thoughts on money. Topics discussed include saving, spending and investing as well as Chris's personal goals in the world of wealth building. Please enjoy!
Chris details his biggest takeaways from this weekend's challenge. If you missed the updates, check out his Instagram for more: @c_mack28
Chris provides details on why he is participating and what he hopes to achieve in the 4x4x48 Challenge.
For more details on the event follow Chris on Instagram: @c_mack28
And PLEASE consider donating to the cause: https://www.classy.org/fundraiser/3139319
Chris details five books that have a had a positive impact on his life.
To find out more about Chris, follow him on Instagram: @c_mack28
or connect with him on LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba-4392b9127/
Chris shares his thoughts on one of philosophy's oldest questions. Feel free to provide feedback and let us know what you think!
Chris discusses the struggles that come with being too goal-oriented and argues for a different approach.
If you enjoy the content of this podcast, please leave a rating and review. Thanks!
Chris shares his story and looks to give the listener a better understanding of the life he lives.
Chris discusses the importance of understanding values, what they are and why we should have them.
Chris considers the impact of MLK and clarifies what he means by taming the ego. Enjoy!
Tune in to hear what I'm looking for, and what I'm not looking for, by doing this. Please share thoughts and feedback and let me know if there is anything you would like to hear about. Thanks!