What if your tax dollars aren’t being used the way you think they are?

In this powerful episode of the Know Your Numbers REI Podcast, Chris McCormack breaks down a shocking reality: Government programs meant to help people are being abused—and taxpayers are footing the bill.

From billions lost in fraud to a lack of accountability, this episode dives deep into how waste, fraud, and mismanagement can happen when oversight is weak—and why business owners should pay attention.

If business owners are accountable for every dollar… Why isn’t the government?

Discover how taxpayer funds can be misused and why more government programs may not be the answer. Understand the real impact of poor oversight and how smart, legal tax planning helps you keep more of your money.

This episode will challenge how you think about taxes, responsibility, and where your money goes.

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➤➤➤ To become a client, schedule a call with our team

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Connect with Chris McCormack on Social Media

Facebook: https://www.facebook.com/chrismccormackcpa

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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.

What if increasing tax revenue is actually hurting society more than helping it?

In this episode of the Know Your Numbers REI Podcast, Chris McCormack dives into a controversial topic: sports gambling legalization and its connection to tax policy. A recent report from the Tax Foundation suggests that legalizing sports betting across all 50 states could generate $1.6 billion in annual tax revenue. On the surface, it sounds like a win for the economy—but is it really?

This episode goes beyond the numbers and asks the deeper question:  At what cost? We break down not just the financial impact, but the cultural, mental, emotional, and societal consequences of expanding legalized gambling.

In this episode, you’ll discover:

• Why governments push for gambling legalization through taxation

• The real reason tax revenue shouldn’t be the main driver of policy

• How gambling affects young men and future generations

• The connection between money, culture, and moral decision-making

• Shocking statistics on gambling addiction and behavior

• Why “more revenue” doesn’t always mean a better society

If you want content that goes beyond surface-level finance and dives into real-world impact, make sure to like, follow, and share your thoughts in the comments.

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Article: https://taxfoundation.org/research/all/state/expanded-legalization-sports-betting-tax-revenue/

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Connect with Chris McCormack on Social Media

Facebook: https://www.facebook.com/chrismccormackcpa

LinkedIn: https://www.linkedin.com/in/chrismccormackcpa

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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.

What if your business could create its own insurance company, protect assets, and potentially reduce taxes?

In this episode of the Know Your Numbers Podcast, Chris McCormack explores Captive Insurance, a powerful risk management and tax planning strategy used by many successful businesses. While large corporations have used captive insurance structures for years, more entrepreneurs are now discovering how this strategy can help manage risk, build reserves, and improve financial stability.

In this conversation, you'll learn:

• What captive insurance is and how it works

• Why some businesses create their own insurance companies

• How captive insurance can support risk management

• Potential tax advantages of properly structured captives

• Who captive insurance may be appropriate for

• Common misconceptions about captive insurance strategies

If you're a business owner, entrepreneur, or investor, understanding advanced risk and tax strategies like captive insurance could open new opportunities for protecting your company and building long-term financial strength.

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➤➤➤ To become a client, schedule a call with our team

➤➤ https://www.betterbooksaccounting.co/contact

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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

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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.

What makes Bitcoin different from other cryptocurrencies—and why do some people believe it could reshape the future of money?

In this episode of the Know Your Numbers Podcast, Chris McCormack talks with Bitcoin educator Brian Nibley about the fundamentals of Bitcoin, how it works, and why it continues to attract global attention.

Brian shares insights from his experience working with fintech companies like SoFi and BitPay, and writing for major crypto publications including Cointelegraph and Blockworks.

In this conversation, you’ll learn:

• What makes Bitcoin unique compared to other cryptocurrencies

• The story behind Bitcoin’s 21 million supply limit

• Why Bitcoin solved the digital double-spend problem

• How regulation, transparency, and blockchain technology work

• Why critics question Bitcoin’s value—and what supporters say instead

Whether you're new to crypto or already investing, this episode breaks down the core ideas behind Bitcoin in a clear and practical way.

Follow for more conversations about money, investing, tax strategy, and financial education.

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To connect with Brian, visit his Social Media Platforms:

YouTube: https://www.youtube.com/@BrianNibley/xregexp

Facebook: https://www.facebook.com/brian.nibley/

Instagram: https://www.instagram.com/brian_nibley/

LinkedIn: https://www.linkedin.com/in/bitcoin-fintech-copywriter

Website: https://bdncontent.com/

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➤➤➤ To become a client, schedule a call with our team

➤➤ https://www.betterbooksaccounting.co/contact

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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 Know Your Numbers, REI Podcast, Chris McCormack sits down with cost segregation expert Tom Brodie of Cost Segregation Services, Inc. to expose why most real estate investors — and even CPAs — get depreciation wrong.

With over 60,000 studies completed nationwide, the reality is shocking: most property owners still don’t understand how powerful cost segregation can be.

Discover how to unlock massive first-year deductions, properly use bonus depreciation, and leverage the time value of money to create immediate cash flow. If you own rental or commercial property, this strategy could significantly reduce your taxable income. More deductions.

More cash flow. Smarter investing.

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To connect with Tom, visit his Social Media Platforms:

Facebook: https://www.facebook.com/tom.brodie.798

Instagram: https://www.instagram.com/thefoundmoneyguy/

LinkedIn: http://linkedin.com/in/thomas-brodie

Website: thefoundmoneyguy.com

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➤➤➤ To become a client, schedule a call with our team

➤➤ https://www.betterbooksaccounting.co/contact

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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

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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 powerful episode of the Know Your Numbers, REI Podcast, Chris McCormack sits down with historian Bill Federer to unpack the dramatic shift in U.S. government funding — from tariff-based revenue to the modern income tax system.

You’ll discover:

• How the British East India Company and the Stamp Act helped spark the American Revolution

• Why tariffs once funded nearly 90% of the federal government

• How the American Civil War triggered the first income tax

• What the 16th Amendment to the United States Constitution changed forever

• Why World War II expanded taxes to nearly every American

• How policies from the New Deal to the Great Society shaped today’s tax and spending system

This conversation connects taxation, war, debt, entrepreneurship, and America’s economic future — challenging you to think differently about money, government power, and opportunity.

If you care about business, investing, economic history, or the future of America’s tax system — this episode is a must-listen.

Tune in for more insights on tax strategy, real estate investing, and building wealth the smart way.

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To connect with Bill, visit his Social Media Platforms:

Facebook: https://www.facebook.com/WilliamJFederer/

Instagram: https://www.instagram.com/the_americanminute/?hl=en

LinkedIn: https://www.linkedin.com/in/william-federer-981b1a17

Website: https://americanminute.com/

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➤➤➤ To become a client, schedule a call with our team

➤➤ https://www.betterbooksaccounting.co/contact

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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

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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, Chris McCormack, founder of Better Books, breaks down major changes happening inside the Internal Revenue Service as we move into 2026, following workforce reductions after the 2025 inauguration and the efficiency push from the DOGE Commission.

👉 Here’s what you need to know:

✅ Smaller IRS workforce → Longer wait times & fewer specialty audits

✅ More AI + automation → Returns flagged faster using data analytics & NAIC industry comparisons

✅ Less flexibility → Documentation and correct tax strategy matter more than ever

✅ Targeted enforcement → Focus on high-income earners, complex entities, digital assets, and tax-heavy industries like real estate, short-term rentals, oil & gas, equipment leasing, and charitable giving

If you find this helpful, don’t forget to subscribe for more tax and business insights, like & leave a review to support the show and connect with Better Books Accounting for expert guidance.

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➤➤➤ To become a client, schedule a call with our team

➤➤ https://www.betterbooksaccounting.co/contact

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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.

Join host Chris McCormack on the Know Your Numbers, REI podcast as he breaks down the updates to tax brackets and taxable income for 2026. This episode covers the importance of maintaining clean financial records, understanding the U.S. progressive tax system, and leveraging tax brackets for maximum savings.

Chris also explains the significance of the standard deduction, capital gains tax brackets, and the qualified business income deduction. Whether you're single, married filing jointly, or head of household, this episode equips you with crucial tax planning strategies to minimize your tax liability and maximize your savings.

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➤➤➤ To become a client, schedule a call with our team

➤➤ https://www.betterbooksaccounting.co/contact

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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, founder of Better Books, dives into the nuances of converting a traditional IRA to a Roth IRA and discusses the benefits of Roth IRAs growing tax-free. He also explores the implications of Trump's Tax Cuts and Jobs Act, including the introduction of the Trump account, which offers a unique tax-saving opportunity for children born between 2025 and 2028.

Chris explains strategies for maximizing these accounts, including converting to Roth IRAs at low-income stages and the potential benefits of using these accounts for education, home purchase, or business ventures.

Tune in to learn how to strategically build wealth and minimize tax liability using available tax codes.

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➤➤➤ To become a client, schedule a call with our team

➤➤ https://www.betterbooksaccounting.co/contact

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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 Tax Planner, dives into the IRS's recent alert about fraudulent tax schemes circulating on social media. Chris discusses the misuse of credits like the fuel tax credit and the sick/family leave credit, sharing tips on how taxpayers can protect themselves from falling prey to these scams. 

Chris also emphasizes the importance of accurate documentation and working with trusted tax advisors. Learn how to safeguard yourself from penalties and ensure your tax strategies are legitimate. 

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➤➤➤ To become a client, schedule a call with our team

➤➤ https://www.betterbooksaccounting.co/contact

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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.