Know Your Numbers with Chris McCormack

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!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ To become a client, schedule a call with our team➤➤ https://www.betterbooksaccounting.co/contact••••••••••••••••••••••••••••••••••••••••••••Connect with Chris McCormack on Social MediaFacebook: https://www.facebook.com/chrismccormackcpaLinkedIn: https://www.linkedin.com/in/chrismccormackcpaInstagram: https://www.instagram.com/chrismccormackcpaJoin our Facebook Group: https://www.facebook.com/groups/6384369318328034→ → → SUBSCRIBE TO BETTER BOOKS' YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@chrismccormackcpaThe 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!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ To become a client, schedule a call with our team➤➤ https://www.betterbooksaccounting.co/contact••••••••••••••••••••••••••••••••••••••••••••Connect with Chris McCormack on Social MediaFacebook: https://www.facebook.com/chrismccormackcpaLinkedIn: https://www.linkedin.com/in/chrismccormackcpaInstagram: https://www.instagram.com/chrismccormackcpaJoin our Facebook Group: https://www.facebook.com/groups/6384369318328034→ → → SUBSCRIBE TO BETTER BOOKS' YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@chrismccormackcpaThe 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!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ To become a client, schedule a call with our team➤➤ https://www.betterbooksaccounting.co/contact••••••••••••••••••••••••••••••••••••••••••••Connect with Chris McCormack on Social MediaFacebook: https://www.facebook.com/chrismccormackcpaLinkedIn: https://www.linkedin.com/in/chrismccormackcpaInstagram: https://www.instagram.com/chrismccormackcpaJoin our Facebook Group: https://www.facebook.com/groups/6384369318328034→ → → SUBSCRIBE TO BETTER BOOKS' YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@chrismccormackcpaThe 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!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ To become a client, schedule a call with our team➤➤ https://www.betterbooksaccounting.co/contact••••••••••••••••••••••••••••••••••••••••••••Connect with Chris McCormack on Social MediaFacebook: https://www.facebook.com/chrismccormackcpaLinkedIn: https://www.linkedin.com/in/chrismccormackcpaInstagram: https://www.instagram.com/chrismccormackcpaJoin our Facebook Group: https://www.facebook.com/groups/6384369318328034→ → → SUBSCRIBE TO BETTER BOOKS' YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@chrismccormackcpaThe 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 into 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!

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!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ To become a client, schedule a call with our team➤➤ https://www.betterbooksaccounting.co/contact••••••••••••••••••••••••••••••••••••••••••••Connect with Chris McCormack on Social MediaFacebook: https://www.facebook.com/chrismccormackcpaLinkedIn: https://www.linkedin.com/in/chrismccormackcpaInstagram: https://www.instagram.com/chrismccormackcpaJoin our Facebook Group: https://www.facebook.com/groups/6384369318328034→ → → SUBSCRIBE TO BETTER BOOKS' YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@chrismccormackcpaThe 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!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ To become a client, schedule a call with our team➤➤ https://www.betterbooksaccounting.co/contact••••••••••••••••••••••••••••••••••••••••••••Connect with Chris McCormack on Social MediaFacebook: https://www.facebook.com/chrismccormackcpaLinkedIn: https://www.linkedin.com/in/chrismccormackcpaInstagram: https://www.instagram.com/chrismccormackcpaJoin our Facebook Group: https://www.facebook.com/groups/6384369318328034→ → → SUBSCRIBE TO BETTER BOOKS' YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@chrismccormackcpaThe 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.••••••••••••••••••••••••••••••••••••••••••••To connect with John Bianchi, visit his Social Media Platforms:Facebook: https://www.facebook.com/john.bianchi.7921Instagram: https://www.instagram.com/theairbnbdataguy/Website: https://strsearch.com/••••••••••••••••••••••••••••••••••••••••••••➤➤➤ To become a client, schedule a call with our team➤➤ https://www.betterbooksaccounting.co/contact••••••••••••••••••••••••••••••••••••••••••••Connect with Chris McCormack on Social MediaFacebook: https://www.facebook.com/chrismccormackcpaLinkedIn: https://www.linkedin.com/in/chrismccormackcpaInstagram: https://www.instagram.com/chrismccormackcpaJoin our Facebook Group: https://www.facebook.com/groups/6384369318328034→ → → SUBSCRIBE TO BETTER BOOKS' YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@chrismccormackcpaThe 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!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ To become a client, schedule a call with our team➤➤ https://www.betterbooksaccounting.co/contact••••••••••••••••••••••••••••••••••••••••••••Connect with Chris McCormack on Social MediaFacebook: https://www.facebook.com/chrismccormackcpaLinkedIn: https://www.linkedin.com/in/chrismccormackcpaInstagram: https://www.instagram.com/chrismccormackcpaJoin our Facebook Group: https://www.facebook.com/groups/6384369318328034→ → → SUBSCRIBE TO BETTER BOOKS' YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@chrismccormackcpaThe 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!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ To become a client, schedule a call with our team➤➤ https://www.betterbooksaccounting.co/contact••••••••••••••••••••••••••••••••••••••••••••Connect with Chris McCormack on Social MediaFacebook: https://www.facebook.com/chrismccormackcpaLinkedIn: https://www.linkedin.com/in/chrismccormackcpaInstagram: https://www.instagram.com/chrismccormackcpaJoin our Facebook Group: https://www.facebook.com/groups/6384369318328034→ → → SUBSCRIBE TO BETTER BOOKS' YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@chrismccormackcpaThe 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!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ To become a client, schedule a call with our team➤➤ https://www.betterbooksaccounting.co/contact••••••••••••••••••••••••••••••••••••••••••••Connect with Chris McCormack on Social MediaFacebook: https://www.facebook.com/chrismccormackcpaLinkedIn: https://www.linkedin.com/in/chrismccormackcpaInstagram: https://www.instagram.com/chrismccormackcpaJoin our Facebook Group: https://www.facebook.com/groups/6384369318328034→ → → SUBSCRIBE TO BETTER BOOKS' YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@chrismccormackcpaThe 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!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ To become a client, schedule a call with our team➤➤https://www.betterbooksaccounting.co/contact••••••••••••••••••••••••••••••••••••••••••••Connect with Chris McCormack on Social MediaFacebook:https://www.facebook.com/chrismccormackcpaLinkedIn:https://www.linkedin.com/in/chrismccormackcpaInstagram:https://www.instagram.com/chrismccormackcpaJoin our Facebook Group:https://www.facebook.com/groups/6384369318328034→ → → SUBSCRIBE TO BETTER BOOKS' YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@chrismccormackcpaThe 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! •••••••••••••••••••••••••••••••••••••••••••• 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 •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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.

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! •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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.

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. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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.

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! •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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.

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! •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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.

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! •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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.

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! •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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.

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! •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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.

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! •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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.

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! •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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.

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. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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. #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! •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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.

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. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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.

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! •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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.

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! •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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.

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! •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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.

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. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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. #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. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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. #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. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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. #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! •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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. #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! •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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. #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! •••••••••••••••••••••••••••••••••••••••••••• ➤➤ 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 → → → 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. #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. •••••••••••••••••••••••••••••••••••••••••••• 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 •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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. #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! •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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. #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 → → → 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. #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 → → → 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. #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 → → → 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 #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 → → → 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. #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 → → → 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. #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 → → → 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. #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 → → → 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. #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 → → → 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. #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 → → → 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. #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 → → → 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. #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 → → → 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. #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! ••••••••••••••••••••••••••••••••••••••••••••••••••••••••• E-Book: https://mailchi.mp/betterbooksaccounting/6-keys ••••••••••••••••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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 → → → 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. #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. ••••••••••••••••••••••••••••••••••••••••••••••••••••••••• E-Book: https://mailchi.mp/betterbooksaccounting/6-keys ••••••••••••••••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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 → → → 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. #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! ••••••••••••••••••••••••••••••••••••••••••••••••••••••••• E-Book: https://mailchi.mp/betterbooksaccounting/6-keys ••••••••••••••••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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/   → → → 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. #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! ••••••••••••••••••••••••••••••••••••••••••••••••••••••••• E-Book: https://mailchi.mp/betterbooksaccounting/6-keys ••••••••••••••••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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/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. #PerformanceMonitoring #AccountManagement #RealEstateRevenue #ProactiveTaxPlanning #BusinessOwners #Health #Education #FinancialHabits #Bookkeeping #FinancialRecords #Taxes #Income #PeaceOfMind #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack