Know Your Numbers REI with Chris McCormack

Chris McCormack
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Know Your Numbers REI is where you can learn how to eliminate the frustrations and chaos you've felt around tax and accounting in your real estate portfolio. Chris is a CPA, Certified Tax Planner and owner of Better Books Accounting - an accounting and bookkeeping firm focused on having real estate investors confidently pay less to the US government Be sure to visit our website betterbooksaccounting.co Connect with Chris on Facebook: Chris McCormack Follow Chris on Instagram: @chrismccormackcpa Connect on LinkedIn: Chris McCormack CPA, MBA

  1. 6D AGO

    How the Trump Account Could Unlock Powerful New Tax Savings

    In this episode of the Know Your Numbers REI Podcast, host Chris McCormack, founder of Better Books, dives into the nuances of converting a traditional IRA to a Roth IRA and discusses the benefits of Roth IRAs growing tax-free. He also explores the implications of Trump's Tax Cuts and Jobs Act, including the introduction of the Trump account, which offers a unique tax-saving opportunity for children born between 2025 and 2028. Chris explains strategies for maximizing these accounts, including converting to Roth IRAs at low-income stages and the potential benefits of using these accounts for education, home purchase, or business ventures. Tune in to learn how to strategically build wealth and minimize tax liability using available tax codes. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ 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 → → → 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.

    15 min

  2. JAN 29

    Don’t Fall for This: The Dangerous Tax Advice Going Viral Online

    In this episode of the Know Your Numbers, REI podcast, host Chris McCormack, a Certified Tax Planner, dives into the IRS's recent alert about fraudulent tax schemes circulating on social media. Chris discusses the misuse of credits like the fuel tax credit and the sick/family leave credit, sharing tips on how taxpayers can protect themselves from falling prey to these scams.  Chris also emphasizes the importance of accurate documentation and working with trusted tax advisors. Learn how to safeguard yourself from penalties and ensure your tax strategies are legitimate.  •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ 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 → → → 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.

    19 min

  3. JAN 22

    Chicago Bears Relocation: Could Taxes Force the Chicago Bears Out of Illinois?

    In this episode of the Know Your Numbers, REI podcast, host Chris McCormack, a certified tax planner and founder of Better Books, explores the potential move of the Chicago Bears from Illinois to Northwest Indiana due to high property and sales taxes. He discusses the broader implications of taxation on relocation decisions, both for large entities like the Bears and for individual taxpayers. Tune in to understand the economic and tax considerations driving such moves, and how you can apply these insights to your personal financial strategy. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ 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 → → → 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.

    22 min

  4. JAN 15

    The Charitable Tax Strategy High Earners Wish They Knew Sooner

    In this episode of the Know Your Numbers REI podcast, hosted by Chris McCormack, CPA, explores powerful strategies to reduce tax burdens for high-income earners. Chris discusses a real-life example of a doctor who saved $150,000 in taxes through depreciation, cost segregation, and the innovative use of leveraged charitable gifts. Learn how strategic tax planning can result in meaningful economic impacts while aligning with your personal and financial goals. Don't miss tips on charitable giving, leveraging life insurance policies, and ensuring compliance with tax regulations. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ 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 → → → 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.

    14 min

  5. JAN 8

    How Depreciation Lowers Your Taxes (Most High Earners Miss This)

    In this episode of the Know Your Numbers, REI podcast, host Chris McCormack, CPA and Certified Tax Planner, discusses the powerful tax-saving potential of depreciation beyond just real estate. Chris shares the stories of two high-income clients in the medical field who saved over $200,000 in taxes by leveraging depreciation on equipment and machinery. Learn how proactive tax planning and understanding IRS tax codes can result in significant tax deductions and economic benefits. If you feel burdened by high taxes on your W-2 income, this episode reveals strategies that could transform your financial situation. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ 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 → → → 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.

    12 min

  6. JAN 1

    What Most Business Owners Don’t Know About Profit-Protecting Entity Structures

    In this episode of the Know Your Numbers REI Podcast, host Chris McCormack breaks down why entity structuring is one of the most powerful tax-saving strategies for real estate investors and business owners. Using a real-world case study, Chris reveals how a client facing a massive tax bill on nearly $1 million in profits was able to legally reduce their taxes by $58,000 through smart entity structuring. This episode dives into the importance of proactive tax planning, explores popular entity options like S Corporations and C Corporations, and explains how choosing the right structure can dramatically impact your bottom line. If you’re a real estate investor looking to minimize taxes, maximize profits, and gain peace of mind, this episode is a must-listen. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ 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 → → → 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.

    16 min

  7. 12/25/2025

    How Cost Segregation Saved My Real Estate Client $300,000 in Taxes (The Power of Cost Segregation)

    In this episode of the Know Your Numbers REI Podcast, host Chris McCormack discusses the power of proactive tax planning and the potential of cost segregation to save thousands of dollars in taxes. Chris shares a real-life case study of a real estate investor who was able to significantly reduce a $300,000 tax bill through strategic tax planning. He emphasizes the importance of taking immediate action and working with the right professionals to achieve lasting economic impact. Tune in to learn how tax strategies can help you save money, build wealth, and create a lasting legacy. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ 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 → → → 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.

    16 min

  8. 12/18/2025

    Backdoor Roth IRA Explained Simply for Beginners: A Smart Path to Tax-Free Growth!

    In this episode of the Know Your Numbers, REI Podcast, hosted by Chris McCormack, we delve deep into tax planning for high-income earners who exceed the contribution limits for Roth IRAs. Chris explains the benefits of a Roth IRA and introduces the 'Backdoor Roth IRA' strategy as an effective means to build tax-free wealth for retirement. Learn about specific income thresholds, contribution limits, and practical steps to transition from a traditional IRA to a Roth IRA. Discover why this strategy is crucial for legacy planning and ensuring a tax-free retirement. Don't miss these valuable insights to enhance your retirement planning! 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. Subscribe now and stay informed! •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ 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 → → → 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.

    11 min
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4.8
out of 5
13 Ratings

About

Know Your Numbers REI is where you can learn how to eliminate the frustrations and chaos you've felt around tax and accounting in your real estate portfolio. Chris is a CPA, Certified Tax Planner and owner of Better Books Accounting - an accounting and bookkeeping firm focused on having real estate investors confidently pay less to the US government Be sure to visit our website betterbooksaccounting.co Connect with Chris on Facebook: Chris McCormack Follow Chris on Instagram: @chrismccormackcpa Connect on LinkedIn: Chris McCormack CPA, MBA

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