Know Your Numbers REI with Chris McCormack

In this episode of the Know Your Numbers REI podcast, host Chris McCormack interviews David Bahnsen, founder of the Bahnsen Group and author of "Full-Time: Work and the Meaning of Life." David discusses the importance of work and how it is ordained by God, emphasizing the significance of producing goods and services to meet the needs of humanity. He explores the idea of co-creating with God through work and highlights the role of work in stewardship and innovation. Don't miss out on this enlightening conversation that will challenge your perspective on work and inspire you to see your professional life through a new lens. Let's continue to learn, grow, and integrate our faith into every aspect of our lives. Stay tuned for more engaging episodes coming your way. Tune in to gain insights into the purpose and value of work in our professional lives. Don't forget to leave a rating and review if you find value in this episode! ••••••••••••••••••••••••••••••••••••••••••••••••••••••••• To connect with David, visit his Social Media Platforms: Instagram: @davidlbahnsen Facebook: https://www.facebook.com/david.bahnsen LinkedIn: https://www.linkedin.com/in/davidbahnsen Youtube: https://www.youtube.com/@Thebahnsengroup Website: Full-time Book (fulltimebook.com) Twitter: https://twitter.com/DavidBahnsen ••••••••••••••••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ 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. #KnowYourNumbersREI #Work #MeaningOfLife #Purpose #Faith #BahnsenGroup #TheologicalPerspective #EconomicDimensions #Entrepreneurship #EntrepreneurialJourney #FinancialGoals #WealthBuilding #BetterBooks #ChrisMcCormack

Welcome back to the Know Your Numbers, REI podcast with your host Chris McCormack, the founder of Better Books. In this episode, Chris discusses the importance of understanding tax deductions, wrapping up a seven-part series on significant tax-saving strategies.Chris dives deep into the intricacies of tax deductions, how to maximize them, and common mistakes people make that lead to overpaying. He covers entity structuring, retirement planning, income sources, and the legal perspectives of ordinary and necessary expenses. Get ready to rethink your approach to taxes creatively and strategically.God bless you, and keep moving forward!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ 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 continues the series on the seven deadly tax traps that entrepreneurs often fall into.Today, we dive into the often-overlooked benefits of using life insurance as a supplement to your retirement plan. As many business owners and real estate investors find themselves phased out of tax-advantaged accounts like Roth IRAs due to income limits, life insurance can provide a viable alternative for tax-free wealth accumulation.Join us as we explore how life insurance can not only protect your loved ones but also help you build a tax-free nest egg for the future.Don't forget to follow to our channel and share this episode with friends who could benefit from understanding the tax advantages of life insurance.Stay tuned for our next episode, where we'll wrap up our series by discussing often-missed expenses that can lead to significant tax costs.God bless you, and keep moving forward!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ 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 dives deep into the often-overlooked topic of tax traps that many Americans, especially business owners and real estate investors, fall into.Are you doing your own taxes? You might think you're saving money, but you could be missing out on significant tax savings and opportunities. Chris explains the crucial difference between tax preparation and tax planning, emphasizing that while filing taxes is necessary for compliance, it often leads to overpaying.Join us as Chris shares a compelling case study of a high-earning executive who saved $50,000 in his first year of working with a tax strategist. Learn about the importance of year-round tax planning, the common mistakes people make when filing their own taxes, and how to optimize your tax strategy for greater wealth accumulation.Whether you're a business owner, real estate investor, or a high-wage earner, this episode is packed with valuable insights that can help you keep more money in your pocket and reduce your tax burden.If you find value in this episode, please give us a five-star rating, follow, and share it with friends who could benefit from these insights.••••••••••••••••••••••••••••••••••••••••••••➤➤➤ 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, a CPA and certified tax planner, dives deep into the critical topic of entity structuring for business owners and real estate investors.Are you aware of the tax traps that could be costing you thousands? Chris discusses the importance of setting up the right entity structure to protect your assets and maximize tax efficiency. He shares real-life examples, including a case study of an investor who operated a seven-figure real estate business under his personal name, exposing himself to significant liability and tax inefficiencies.If you're a business owner or real estate investor looking to optimize your tax strategy, this episode is packed with valuable insights you won't want to miss!Don't forget to follow to our channel for more episodes on tax planning and financial strategies. If you find this episode helpful, share it with a friend who could benefit from this information!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ 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 dives into the third of seven costly tax mistakes that many real estate investors and business owners make: ignoring depreciation.Chris, a CPA and certified tax planner, explains how leveraging depreciation can significantly reduce your tax burden and enhance your investment returns. He shares real-life examples, including a case where a couple missed out on a $160,000 tax benefit due to improper depreciation practices.If you're a real estate investor or a business owner looking to optimize your tax strategy, this episode is packed with valuable insights and actionable steps. Don't forget to follow and leave a review to help others discover the podcast!Stay tuned for more episodes as we continue to explore the most costly tax mistakes and how to avoid them. God bless you, and keep moving forward!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ 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 back to the Know Your Numbers REI podcast! In this episode, host Chris McCormack dives into the second costly mistake people make regarding their taxes: treating a brokerage account like a retirement plan.Join us as we explore the implications of investing in brokerage and cryptocurrency accounts without considering the tax consequences. Chris shares personal experiences and insights from clients to highlight the importance of understanding how taxes can impact your investment returns.Learn about more tax-friendly alternatives, such as Roth IRAs and cash value life insurance, that can help you maximize your savings and minimize your tax burden. Discover how proper planning can lead to greater peace of mind and financial security in retirement.If you find this episode valuable, please share it with friends and leave us a five-star rating and review! Don't forget to follow our Spotify and Apple podcast channel for more weekly content.Stay tuned for next week's episode, where we'll continue our discussion on the seven costly tax mistakes, focusing on real estate-specific strategies.God bless you and keep moving forward!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ 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 dives into the first part of a new series focused on the seven areas where people often overpay in taxes. Discover how to be more strategic in your financial approach and learn about common tax mistakes that could be costing you thousands.Chris shares insights on how different income types are taxed, comparing high-income earners with W-2 income to those who leverage investments and strategic planning to minimize their tax burden. He discusses real-life examples, including a high-level executive and a savvy investor, to illustrate how tax planning can lead to significant savings.Whether you're a business owner, entrepreneur, or high-income earner, this episode is packed with valuable information to help you lower your tax liability and build wealth.Don't forget to follow for more insights on taxes, finances, and wealth-building strategies!Tune in next week for Part 2 of our series on the biggest tax mistakes that could be costing you money!God bless you, and keep moving forward!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ 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, dives deep into the often-overlooked benefits of insurance from a tax perspective.Are you an entrepreneur, investor, or business owner feeling overwhelmed by taxes and accounting? Chris shares valuable insights on how to turn insurance from a mere expense into a powerful financial tool. Discover how cash value life insurance and captive insurance can help you save thousands in taxes, protect your assets, and even transfer wealth tax-free to your beneficiaries.Whether you're just starting out or looking to optimize your financial strategy, this episode is packed with actionable advice to help you navigate the complexities of insurance and taxes.Don't forget to follow for more insights on managing your finances and reducing your tax burden!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ 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 delves into the recent changes in tax laws and their implications on tax brackets. Chris discusses the importance of planning and strategizing around taxes to avoid unnecessary burdens, especially given the new permanent lower tax brackets.This episode offers a detailed explanation of how progressive tax systems work, examines the specific tax brackets for both single and married filers for 2025, and explores the benefits of tax planning for business owners and individuals. Chris emphasizes the significance of working with a knowledgeable CPA or tax planner to optimize tax savings and align financial strategies with personal goals.••••••••••••••••••••••••••••••••••••••••••••➤➤➤ 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 a certified tax planner, dives deep into the recently passed law regarding Qualified Small Business Stock (QSBS) and its implications for small business owners and investors.Whether you're a small business owner contemplating a sale or an investor looking to maximize your returns, this episode is packed with valuable insights and strategies to help you navigate the complexities of tax planning.Don't miss out on this opportunity to learn how to keep more money in your pocket and reinvest in your future!Follow for more episodes and insights on tax strategies and real estate investing. If you have questions or need personalized advice, reach out to us at Better Books!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ 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 dives deep into the recent changes in U.S. tax law following the passage of a significant piece of legislation on July 4, 2025. This episode focuses on two crucial sections—70301 and 70302—pertaining to full expensing of business property and immediate expensing of research and development costs.Chris explains how the reinstatement of 100% bonus depreciation for business property is a game-changer for real estate investors and business owners. He discusses the implications of this law, including how it allows for significant tax savings and strategic planning opportunities. Additionally, he highlights the new provisions for startups, enabling them to fully expense their research and development costs in the year they are incurred, rather than amortizing them over 15 years.Whether you're a real estate investor, a business owner, or an entrepreneur, this episode is packed with valuable insights on how to leverage these tax changes to grow your wealth and reduce your tax burden.If you find value in this episode, please leave us a review, follow us on Spotify, and share it with anyone who could benefit from understanding these tax changes.••••••••••••••••••••••••••••••••••••••••••••➤➤➤ 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, a CPA and certified tax planner, dives deep into the newly signed tax law, including the exciting introduction of "Trump accounts."Join us as we explore how these accounts serve as a new wealth-building tool for families, business owners, and everyday Americans. Learn about the benefits of tax-deferred growth, government contributions, and how these accounts can be accessed by children as they grow.Whether you're a high-income earner, a business owner, or simply looking for ways to invest strategically, this episode is packed with valuable insights to help you navigate the complexities of the tax code and build a prosperous future for your family.Don't forget to share this episode with anyone who could benefit from understanding these new tax laws!Tune in now and start planning for a brighter financial future!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ 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 discusses the critical importance of having a year-round tax plan for real estate investors and entrepreneurs. He emphasizes that waiting until tax season to address taxes is far too late, especially for those making six or seven figures.Chris outlines the four pillars of real estate investment: cash flow, appreciation, tax planning, and equity. He encourages listeners to think of their tax strategy as integral to their investment decisions, akin to planning their next deal!Tune in to learn how to better manage your tax strategy throughout the year and maximize your investment potential!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ 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, founder of Better Books and a Certified Tax Planner, dives deep into the latest tax changes and implications that could affect you as a business owner, investor, or real estate professional.Join Chris as he discusses the recent big bill making its way through Congress, focusing on what tax benefits are being removed, particularly those related to clean energy credits that were introduced during the previous administration. He breaks down the termination of various clean vehicle credits, commercial clean vehicle credits, and alternative fuel vehicle refueling property credits, explaining how these changes could impact your tax strategy moving forward.Stay informed about the evolving tax landscape and learn how to navigate these changes effectively. Chris emphasizes the importance of having a knowledgeable tax strategist in your corner to help you make the best financial decisions for your future.Don't miss this insightful episode packed with valuable information to help you save on taxes and grow your business!Follow to the Know Your Numbers REI Podcast for more insights on tax strategies and real estate investing!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ 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 dives deep into the latest developments surrounding the proposed "one big beautiful bill" currently making its way through the Senate.Join us as we explore the implications of the 2017 Tax Cuts and Jobs Act, focusing on key provisions like Bonus Depreciation and Opportunity Zones that could significantly impact real estate investors and taxpayers alike.Whether you're a seasoned investor or just starting out, this episode is packed with valuable information to help you navigate the ever-changing tax landscape. Don't forget to like, follow, and leave us a review if you find this content helpful!Thank you for tuning in, and let's keep moving forward together!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ 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 dives deep into the latest developments in tax law, specifically focusing on the Section 199A deduction, also known as the Qualified Business Income (QBI) deduction.Whether you're a seasoned business owner or just starting out, this episode is packed with valuable insights to help you navigate the complexities of tax law and make informed decisions for your financial future.Don't forget to like, follow, and share this episode with anyone who could benefit from understanding these important tax changes!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ 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, Certified Tax Planner, and founder of Better Books Accounting, dives deep into the implications of the 2017 Tax Cuts and Jobs Act for real estate investors.As we approach the expiration of key provisions in this tax act, Chris discusses the potential changes in tax brackets, bonus depreciation, and capital gains tax rates that could significantly impact your bottom line. He emphasizes the importance of proactive tax planning and staying informed about current tax laws to make confident decisions regarding your investments.Whether you're considering selling a property, refinancing your rental portfolio, or simply looking to optimize your tax strategy, this episode is packed with valuable insights and actionable advice.Don't miss out on this essential information that could shape your financial future!Follow to the Know Your Numbers REI Podcast for more insights on real estate investing and tax planning!••••••••••••••••••••••••••••••••••••••••••••➤➤➤ 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, a Certified Tax Planner and CPA, dives deep into the importance of proactive tax planning for real estate investors and business owners.Are you feeling overwhelmed by your tax situation? You're not alone! Many entrepreneurs struggle with the complexities of the tax code, leading to confusion and anxiety about their tax bills. Chris shares valuable insights on how to take control of your tax strategy and avoid the pitfalls of reactive tax filing.Don't wait until tax season to think about your tax strategy! Tune in to discover how you can save money and gain peace of mind by taking action now.If you find this episode helpful, please like, share, and follow for more insights on tax planning and real estate investing.••••••••••••••••••••••••••••••••••••••••••••➤➤➤ 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 special guest Rachel Wortman, author of "The Money Mandate" and three other books. Rachel shares her inspiring journey of moving to Oklahoma City to plant a church and how a pivotal moment led her and her husband to embrace a bivocational lifestyle.Rachel and her husband, Grant, manage 3 real estate-related businesses under the Wortman INC brand, including Chamberlain Realty in Oklahoma City. Their real estate brokerage is the second largest in Oklahoma City. They are home to more than 340 real estate agents who have helped them amass over 2.5 billion dollars in sales volume over the last 8 years. She now coaches Kingdom Leaders who desire to harness their potential, unlock their anointing, and build a life of true wealth!Whether you're an entrepreneur, a business owner, or someone looking to deepen your understanding of faith and finances, this episode is packed with valuable insights on faith, entrepreneurship, and the impact of financial literacy in their lives.. Don't miss out!••••••••••••••••••••••••••••••••••••••••••••To connect with Rachel Wortman, visit her Social Media Platforms:Facebook: https://www.facebook.com/profile.php?id=100063676208432Instagram: https://www.instagram.com/rachelwortman/LinkedIn: https://www.linkedin.com/in/rachel-wortman-4597aa202/Website: https://rachelwortman.com/••••••••••••••••••••••••••••••••••••••••••••➤➤➤ 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/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.