Know Your Numbers

Chris McCormack

Welcome to the Know Your Numbers Podcast with Chris McCormack and Better Books Accounting — the podcast for real estate investors, business owners, and entrepreneurs who want to build wealth by truly understanding their numbers. Each episode breaks down tax strategies, accounting insights, cash flow, profitability, real estate investing, and financial planning in a practical, easy-to-understand way. Whether you're scaling your portfolio, growing a business, or trying to keep more of what you earn, this podcast delivers actionable conversations, expert advice, and real-world strategies.

  1. 1d ago

    Do This Before December 31 to Save Thousands in Taxes

    Are you waiting until tax season to think about taxes? That could be costing you thousands. In this episode of the Know Your Numbers Podcast, Chris McCormack kicks off a brand-new Q4 Tax Planning Series and explains why the fourth quarter is the single most important time of year for business owners, real estate investors, and high-income earners to legally reduce their tax bill. You'll discover the proactive tax strategies that expire after December 31st, why tax planning is completely different from tax preparation, and how Better Books helps clients keep more money by planning before the year ends—not after it's too late. If you're a real estate investor, entrepreneur, or high-income professional, this series will give you practical strategies to help you pay the lowest amount of tax legally and ethically. Follow for the remaining episodes in this September tax planning series and don't forget to share this with another business owner who needs it. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ https://www.betterbooksaccounting.co/booking-calendar/better-books-consultation •••••••••••••••••••••••••••••••••••••••••••• Connect with Better Books on Social Media Facebook: https://www.facebook.com/betterbooksaccounting.co Instagram: https://www.instagram.com/betterbooksaccounting.co → → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←  https://www.youtube.com/@betterbooksaccounting 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.

  2. Sep 3

    5 IRS Red Flags Every Business Owner & Real Estate Investor Should Know

    Could your tax return trigger a closer look from the IRS? In this episode of the Know Your Numbers REI Podcast, Chris McCormack breaks down 5 IRS audit red flags that business owners, entrepreneurs, and real estate investors should understand. The goal isn't to scare you—it's to equip you with knowledge so you can better understand what the IRS looks for, properly document your deductions, and make sure your tax strategy is both legal and defensible. Chris explains how today's technology allows the IRS to compare information across tax returns and third-party reports, making accurate reporting and proper documentation more important than ever. Chris also explains why proper bookkeeping, documentation, tax planning, and working with a knowledgeable CPA can give you greater confidence if the IRS ever asks questions about your return. If you found this episode valuable, like, follow, leave a review, and share it with another business owner or real estate investor. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ https://www.betterbooksaccounting.co/booking-calendar/better-books-consultation •••••••••••••••••••••••••••••••••••••••••••• Connect with Better Books on Social Media Facebook: https://www.facebook.com/betterbooksaccounting.co Instagram: https://www.instagram.com/betterbooksaccounting.co → → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←  https://www.youtube.com/@betterbooksaccounting 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.

  3. Aug 27

    Stop Waiting Until Tax Season: How Smart Business Owners Plan All Year

    Are you waiting until tax season to start thinking about taxes? That could be costing your business money. In this episode of the Know Your Numbers Podcast, Chris McCormack breaks down the quarterly tax planning system used at Better Books to help business owners, real estate investors, and high-income earners take a more proactive approach to taxes. Tax planning isn't something that should only happen in February, March, or April. By then, many of the opportunities to make strategic decisions may already be gone. Instead, effective tax planning starts with accurate bookkeeping and follows a consistent rhythm throughout the year. Chris explains what business owners should be reviewing in Q1, Q2, Q3, and Q4 and how each quarter plays a different role in preparing for and potentially reducing your tax liability. From reviewing your prior-year financials and entity structure to forecasting income, evaluating retirement contributions, considering real estate strategies, accelerating deductions, and deferring income, this episode provides a practical framework for making tax planning a year-round system instead of a last-minute scramble. The tax code isn't just a burden. When you plan ahead, it can become a blueprint for making smarter financial decisions and building long-term wealth. If you found this episode valuable, like, subscribe, leave a review, and share it with another business owner who needs to hear this. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ https://www.betterbooksaccounting.co/booking-calendar/better-books-consultation •••••••••••••••••••••••••••••••••••••••••••• Connect with Better Books on Social Media Facebook: https://www.facebook.com/betterbooksaccounting.co Instagram: https://www.instagram.com/betterbooksaccounting.co → → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←  https://www.youtube.com/@betterbooksaccounting 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.

  4. Aug 20

    Why Successful Entrepreneurs Need a Day Off Every Week

    What if one day of rest each week could actually make you better at business? In this episode of the Know Your Numbers Podcast, Chris McCormack explores a financial and life system that goes all the way back to the beginning of Scripture: the Sabbath. In a culture that constantly tells entrepreneurs to work harder, achieve more, make more money, and stay connected 24/7, the Sabbath offers a radically different approach: stop, rest, reset, and remember that your value isn't determined by your productivity. Chris explains why the Sabbath was established before the fall, why rest is part of God's original design for humanity, and how intentionally setting aside one day each week can help entrepreneurs avoid burnout, improve their relationships, think more clearly, and ultimately perform better in business. He also shares how he personally practices the Sabbath by turning off his phone, stepping away from email and technology, spending time in nature, journaling, praying, reading Scripture, and being fully present with his family. Whether you're a Christian entrepreneur, business owner, investor, or simply someone struggling to slow down, this episode offers a practical perspective on why rest may be one of the most important systems you can build into your life. The goal isn't to work more. It's to build a life and business that you don't need to escape from. If this episode helped you, like, follow, and share it with another entrepreneur who needs permission to slow down. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ https://www.betterbooksaccounting.co/booking-calendar/better-books-consultation •••••••••••••••••••••••••••••••••••••••••••• Connect with Better Books on Social Media Facebook: https://www.facebook.com/betterbooksaccounting.co Instagram: https://www.instagram.com/betterbooksaccounting.co → → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←  https://www.youtube.com/@betterbooksaccounting 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.

  5. Aug 13

    You're Making Money… So Where Is It Going? | Profit First Explained With David Richter

    What if your business is making more money, but you’re still not keeping any of it? In this episode of the Know Your Numbers Podcast, Chris McCormack sits down with David Richter, founder and CEO of Simple CFO and author of Profit First for Real Estate Investing, to break down the financial systems that help business owners take control of their cash. David shares his journey from working in real estate and helping scale a company to 25 deals per month while spending the equivalent of 26 deals to discovering the importance of cash flow management and building a system that helps business owners actually keep the money they make. Whether you're a real estate investor doing your first deal, running multiple deals per month, or operating a completely different type of business, this conversation offers practical ideas for gaining clarity and taking control of your finances. If you found this episode valuable, like, follow, and share the podcast with another business owner who needs to get better control of their money. •••••••••••••••••••••••••••••••••••••••••••• To connect with David, visit his Social Media Platforms: Facebook: https://www.facebook.com/david.richter.395/ Instagram: https://www.instagram.com/thedavidrichter/ LinkedIn: https://www.linkedin.com/in/david-simple-cfo Website: https://simplecfo.com/ •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ https://www.betterbooksaccounting.co/booking-calendar/better-books-consultation •••••••••••••••••••••••••••••••••••••••••••• Connect with Better Books on Social Media Facebook: https://www.facebook.com/betterbooksaccounting.co Instagram: https://www.instagram.com/betterbooksaccounting.co → → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←  https://www.youtube.com/@betterbooksaccounting 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.

  6. Aug 6

    The Financial Systems Every Business Owner NEEDS (Before It's Too Late)

    In this episode of the Know Your Numbers Podcast, Chris McCormack kicks off a brand-new series on business systems by breaking down the financial systems every entrepreneur should implement before focusing on tax planning. Many business owners struggle with cashflow, bookkeeping, budgeting, and financial decision-making not because they aren't making money, but because they lack systems. Learn how proper bookkeeping, Profit First, budgeting, and financial reviews can help you build a healthier, more profitable business while avoiding costly mistakes. Whether you're a small business owner, entrepreneur, real estate investor, or self-employed professional, these financial systems will help you make smarter decisions, improve cash flow, and create a more profitable business. If this episode helps you, Like, Follow, and Share to support more business owners on their journey to having the right financial systems. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ https://www.betterbooksaccounting.co/booking-calendar/better-books-consultation •••••••••••••••••••••••••••••••••••••••••••• Connect with Better Books on Social Media Facebook: https://www.facebook.com/betterbooksaccounting.co Instagram: https://www.instagram.com/betterbooksaccounting.co → → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←  https://www.youtube.com/@betterbooksaccounting 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.

  7. Jul 30

    How Business Owners Can LEGALLY Pay $0 in Taxes

    Can you legally pay ZERO income tax? Most business owners assume the answer is no, but the U.S. tax code offers powerful strategies that can dramatically reduce taxes when used correctly. In this episode of the Know Your Numbers Podcast, Chris McCormack concludes the Freedom Series by breaking down how entrepreneurs, investors, and high-income earners can build tax-free wealth using proven tax planning strategies. You'll learn how Roth IRAs, Backdoor Roths, Roth Conversions, Life Insurance Retirement Planning, Real Estate Tax Strategies, Cost Segregation, Depreciation, and 1031 Exchanges can work together to legally minimize taxes and create long-term financial freedom. If you're a business owner looking to keep more of what you earn while staying compliant with the IRS, this episode is packed with practical insights you won't want to miss. Whether you're an entrepreneur, real estate investor, or simply want to understand how wealthy families legally reduce taxes, this episode provides a roadmap toward greater financial freedom. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ https://www.betterbooksaccounting.co/booking-calendar/better-books-consultation •••••••••••••••••••••••••••••••••••••••••••• Connect with Better Books on Social Media Facebook: https://www.facebook.com/betterbooksaccounting.co Instagram: https://www.instagram.com/betterbooksaccounting.co → → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←  https://www.youtube.com/@betterbooksaccounting 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.

  8. Jul 23

    Why Your Business Always Feels Broke (And How to Fix It)

    Is your business creating freedom or financial chaos? In this episode of the Know Your Numbers Podcast, Chris McCormack shares four proven financial systems that help business owners regain control of their money, reduce stress, and build a business that works for them. Learn why monthly bookkeeping, YNAB (You Need A Budget), Profit First, and regular financial reviews can transform your cash flow, improve profitability, and eliminate the constant anxiety of running a business. Whether you're an entrepreneur, small business owner, or real estate investor, these practical systems will help you organize your finances, make smarter decisions, and create lasting financial freedom. If this episode helps you, Like, Follow, and Share to support more business owners on their journey to financial freedom. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ https://www.betterbooksaccounting.co/booking-calendar/better-books-consultation •••••••••••••••••••••••••••••••••••••••••••• Connect with Better Books on Social Media Facebook: https://www.facebook.com/betterbooksaccounting.co Instagram: https://www.instagram.com/betterbooksaccounting.co → → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ←  https://www.youtube.com/@betterbooksaccounting 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.

4.8
out of 5
13 Ratings

About

Welcome to the Know Your Numbers Podcast with Chris McCormack and Better Books Accounting — the podcast for real estate investors, business owners, and entrepreneurs who want to build wealth by truly understanding their numbers. Each episode breaks down tax strategies, accounting insights, cash flow, profitability, real estate investing, and financial planning in a practical, easy-to-understand way. Whether you're scaling your portfolio, growing a business, or trying to keep more of what you earn, this podcast delivers actionable conversations, expert advice, and real-world strategies.