Know Your Numbers

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...

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 busine...

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...

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, t...

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, apprec...

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...

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...

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...

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. Disc...

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...

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...

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...

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, expla...

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 th...

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...

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 foundat...

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 mak...

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 a...

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...

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...

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 plannin...

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 Buff...

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...

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 l...

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 contex...