Know Your Numbers

Hosted by Chris McCormack

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Episodes

232

Latest episode

Oct 2026

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About the show

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

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October 29, 2026Episode 16519 min

5 Financial Decisions You Must Make Before Year-End

Before the year ends, are you making the right financial decisions to reduce taxes, protect your cash, and build long-term wealth? In this episode of the Know Your Numbers podcast, Chris McCormack breaks down five financial decisions every business owner, real estate investor, and high-income earner should review before year-end. You'll learn why your taxable income is not the same as your bank balance, how to protect your cash reserves, when to pay down expensive debt, and how to decide between reinvesting in your business, funding tax-advantaged accounts, and exploring alternative investments. The key is to make decisions in the right order: know your taxable income, protect your reserves, address expensive debt, prioritize the right investments, and then consider suitable opportunities outside your business. Don't wait until tax season to discover missed deductions, unexpected tax liabilities, or investment mistakes. Work with a qualified tax professional to evaluate your options before making major financial decisions. Follow the Know Your Numbers for more insights on tax planning, business finance, and building long-term wealth. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ https://www.betterbooksaccounting.co/booking-calendar/better-books-consultation •••••••••••••••••••••••••••••••••••••••••••• Connect with Better Books on Social Media Facebook: https://www.facebook.com/betterbooksaccounting.co Instagram: https://www.instagram.com/betterbooksaccounting.co → → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@betterbooksaccounting The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

October 22, 2026Episode 16420 min

Good Debt vs. Bad Debt: Are You Building Wealth or Losing Money?

Is debt helping you build wealth—or putting your business and financial future at risk? In this episode of the Know Your Numbers podcast, Chris McCormack breaks down the difference between good debt and bad debt and shares four important tests to consider before borrowing money. Learn how to evaluate the return on your debt, determine whether an investment can generate enough cash flow to cover its costs, understand the risks of personal guarantees, and assess your options if things don't go according to plan. Chris also explores how debt can support real estate investments and business growth, while explaining why high-interest credit cards, risky equipment financing, and borrowing solely for tax deductions can lead to costly financial mistakes. Whether you're a business owner, entrepreneur, or real estate investor, this episode will help you think more carefully about debt, manage financial risk, and make borrowing decisions based on real numbers instead of assumptions. Remember: Debt should support your financial goals—not put your family, cash flow, or business at unnecessary risk. Follow to the Know Your Numbers podcast for more practical insights on business finance, tax planning, real estate investing, and financial decision-making. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ https://www.betterbooksaccounting.co/booking-calendar/better-books-consultation •••••••••••••••••••••••••••••••••••••••••••• Connect with Better Books on Social Media Facebook: https://www.facebook.com/betterbooksaccounting.co Instagram: https://www.instagram.com/betterbooksaccounting.co → → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@betterbooksaccounting The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

October 15, 2026Episode 16323 min

What Should You Do With Extra Business Cash? Follow This Order

What should you do when your business suddenly has extra cash? Save it, pay down debt, invest it, or reinvest it into your business? In this episode of the Know Your Numbers podcast, Chris McCormack shares a practical framework for deciding how to use extra cash without putting your business or financial future at risk. Learn why building 3–6 months of operating reserves, setting aside money for taxes, paying down high-interest debt, and taking advantage of tax-advantaged accounts should be priorities before pursuing outside investments. Chris also explains when reinvesting in your business may make more sense than investing elsewhere, why Health Savings Accounts (HSAs) can offer valuable tax benefits, and how to evaluate investment opportunities based on your financial goals and potential returns. Whether you're a business owner, entrepreneur, or real estate investor, this episode will help you build a more disciplined approach to managing extra cash and making financial decisions that support your long-term goals. Follow the Know Your Numbers for more insights on business finance, tax planning, cash flow, and building long-term financial success. If you found this episode valuable, leave a review and share it with another business owner who could benefit from it. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ https://www.betterbooksaccounting.co/booking-calendar/better-books-consultation •••••••••••••••••••••••••••••••••••••••••••• Connect with Better Books on Social Media Facebook: https://www.facebook.com/betterbooksaccounting.co Instagram: https://www.instagram.com/betterbooksaccounting.co → → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@betterbooksaccounting The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

October 8, 2026Episode 16217 min

Financial Planning vs. Tax Planning: What Your Financial Advisor Isn't Telling You

Is your financial planner also handling your tax planning? Not necessarily. In this episode of the Know Your Numbers podcast, Chris McCormack breaks down the difference between financial planning and tax planning, why both are important, and how they can work together to improve your overall financial strategy. Chris explains how financial planners can help with investments, retirement accounts, savings, and long-term financial goals, while tax planners can focus on areas such as entity structure, deductions, income and expense timing, depreciation, and tax-saving strategies. You'll also hear real-world examples of high-income earners and business owners who were paying significant amounts in taxes and how strategic tax planning could potentially free up more cash for investing, debt reduction, and other financial goals. If you're a business owner, real estate investor, or high-income earner, understanding how your financial plan and tax plan work together could make a major difference. The goal isn't simply to invest more or pay less in taxes—it's to build a strategy where your financial and tax plans work together toward your goals. If you found value in this episode, leave a review, comment, and share it with someone who needs to hear it. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ https://www.betterbooksaccounting.co/booking-calendar/better-books-consultation •••••••••••••••••••••••••••••••••••••••••••• Connect with Better Books on Social Media Facebook: https://www.facebook.com/betterbooksaccounting.co Instagram: https://www.instagram.com/betterbooksaccounting.co → → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@betterbooksaccounting The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

October 1, 2026Episode 16141 min

7 Financial Numbers Every Business Owner MUST Know

Do you really know the numbers that determine the financial health of your business? In this episode of the Know Your Numbers Podcast, Chris McCormack breaks down 7 financial numbers every business owner should know—including tax rate, profit and profit margin, break-even revenue, liquidity and runway, tax basis, cash flow vs. profit, and goal revenue/profit. Understanding these numbers can help you make better decisions, avoid unexpected tax bills, control expenses, manage cash flow, and clearly understand whether your business is actually profitable. Whether you're a business owner, real estate investor, or high-income W-2 earner, knowing your numbers can bring greater clarity, confidence, and financial peace Visit BetterBooksAccounting.co to learn more about Better Books and connect with Chris McCormack. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ https://www.betterbooksaccounting.co/booking-calendar/better-books-consultation •••••••••••••••••••••••••••••••••••••••••••• Connect with Better Books on Social Media Facebook: https://www.facebook.com/betterbooksaccounting.co Instagram: https://www.instagram.com/betterbooksaccounting.co → → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@betterbooksaccounting The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

September 24, 2026Episode 16018 min

S-Corp Owners: Do THIS Before December 31

If you own an S corporation, Q4 is the time to get your tax planning right. In this episode of the Know Your Numbers Podcast, Chris McCormack explains why S-corp owners need to pay close attention to reasonable salary, payroll timing, the QBI deduction, employee benefits, depreciation, and year-end business expenses before December 31. Chris also explains how paying yourself too little or paying your salary too late can affect your tax benefits and potentially create unnecessary IRS risk. Don’t wait until tax season to discover a problem. Use Q4 to review your numbers, identify opportunities, and make strategic moves before the year ends. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ https://www.betterbooksaccounting.co/booking-calendar/better-books-consultation •••••••••••••••••••••••••••••••••••••••••••• Connect with Better Books on Social Media Facebook: https://www.facebook.com/betterbooksaccounting.co Instagram: https://www.instagram.com/betterbooksaccounting.co → → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@betterbooksaccounting The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

September 17, 2026Episode 15917 min

Why Your Rental Property Might NOT Qualify for Tax Savings

Think it's too late to save on taxes this year? Think again. In this episode of the Know Your Numbers Podcast, Chris McCormack continues the September Q4 Tax Planning Series and explains why the fourth quarter can be one of the most important opportunities for real estate investors and business owners to take action before the year ends. One of the biggest topics in this episode is cost segregation—how it can accelerate depreciation on real estate and potentially create significant tax deductions. Chris also explains an important detail many investors overlook: simply purchasing a property before December 31st doesn't necessarily mean you qualify for the depreciation benefits you expect. You'll learn about the importance of having a property placed in service, what it means for a property to be ready and available for rent, and why timing your real estate investments can make a major difference in your tax strategy. If you're a real estate investor, business owner, high-income earner, or someone considering purchasing an investment property, this episode can help you understand why timing and proactive tax planning matter. Follow for the remaining episodes in this September tax planning series and don't forget to share this with another business owner who needs it. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ https://www.betterbooksaccounting.co/booking-calendar/better-books-consultation •••••••••••••••••••••••••••••••••••••••••••• Connect with Better Books on Social Media Facebook: https://www.facebook.com/betterbooksaccounting.co Instagram: https://www.instagram.com/betterbooksaccounting.co → → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@betterbooksaccounting The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

September 10, 2026Episode 15823 min

Do This Before December 31 to Save Thousands in Taxes

Are you waiting until tax season to think about taxes? That could be costing you thousands. In this episode of the Know Your Numbers Podcast, Chris McCormack kicks off a brand-new Q4 Tax Planning Series and explains why the fourth quarter is the single most important time of year for business owners, real estate investors, and high-income earners to legally reduce their tax bill. You'll discover the proactive tax strategies that expire after December 31st, why tax planning is completely different from tax preparation, and how Better Books helps clients keep more money by planning before the year ends—not after it's too late. If you're a real estate investor, entrepreneur, or high-income professional, this series will give you practical strategies to help you pay the lowest amount of tax legally and ethically. Follow for the remaining episodes in this September tax planning series and don't forget to share this with another business owner who needs it. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ https://www.betterbooksaccounting.co/booking-calendar/better-books-consultation •••••••••••••••••••••••••••••••••••••••••••• Connect with Better Books on Social Media Facebook: https://www.facebook.com/betterbooksaccounting.co Instagram: https://www.instagram.com/betterbooksaccounting.co → → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@betterbooksaccounting The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

September 3, 2026Episode 15729 min

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

Could your tax return trigger a closer look from the IRS? In this episode of the Know Your Numbers REI Podcast, Chris McCormack breaks down 5 IRS audit red flags that business owners, entrepreneurs, and real estate investors should understand. The goal isn't to scare you—it's to equip you with knowledge so you can better understand what the IRS looks for, properly document your deductions, and make sure your tax strategy is both legal and defensible. Chris explains how today's technology allows the IRS to compare information across tax returns and third-party reports, making accurate reporting and proper documentation more important than ever. Chris also explains why proper bookkeeping, documentation, tax planning, and working with a knowledgeable CPA can give you greater confidence if the IRS ever asks questions about your return. If you found this episode valuable, like, follow, leave a review, and share it with another business owner or real estate investor. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ https://www.betterbooksaccounting.co/booking-calendar/better-books-consultation •••••••••••••••••••••••••••••••••••••••••••• Connect with Better Books on Social Media Facebook: https://www.facebook.com/betterbooksaccounting.co Instagram: https://www.instagram.com/betterbooksaccounting.co → → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@betterbooksaccounting The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

August 27, 2026Episode 15621 min

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

Are you waiting until tax season to start thinking about taxes? That could be costing your business money. In this episode of the Know Your Numbers Podcast, Chris McCormack breaks down the quarterly tax planning system used at Better Books to help business owners, real estate investors, and high-income earners take a more proactive approach to taxes. Tax planning isn't something that should only happen in February, March, or April. By then, many of the opportunities to make strategic decisions may already be gone. Instead, effective tax planning starts with accurate bookkeeping and follows a consistent rhythm throughout the year. Chris explains what business owners should be reviewing in Q1, Q2, Q3, and Q4 and how each quarter plays a different role in preparing for and potentially reducing your tax liability. From reviewing your prior-year financials and entity structure to forecasting income, evaluating retirement contributions, considering real estate strategies, accelerating deductions, and deferring income, this episode provides a practical framework for making tax planning a year-round system instead of a last-minute scramble. The tax code isn't just a burden. When you plan ahead, it can become a blueprint for making smarter financial decisions and building long-term wealth. If you found this episode valuable, like, subscribe, leave a review, and share it with another business owner who needs to hear this. •••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team ➤➤ https://www.betterbooksaccounting.co/booking-calendar/better-books-consultation •••••••••••••••••••••••••••••••••••••••••••• Connect with Better Books on Social Media Facebook: https://www.facebook.com/betterbooksaccounting.co Instagram: https://www.instagram.com/betterbooksaccounting.co → → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@betterbooksaccounting The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.