Real estate agents do a lot more than just list and sell properties. They advertise for their clients, they protect the home while it’s being viewed, they show the seller how to give their home more curb appeal, and they help buyers find that perfect home to create long-term memories of their family.
Most real estate agents don’t understand all the things they can write off to save them taxes. They often overlook the simplest items that are deductible in the course of their business activities. Like I always say, to be the best you need to immerse yourself into your business to know and understand every facet of it. You have to be the person with an answer to every question. It’s you being known as the go-to Guy or Gal when people think of you. It’s creating that reputation within your area that takes years of dedication, promotion, late hours of work and an “I will do what ever it takes” attitude. However, before you get sellin’, it’s important to know exactly what you can deduct on your tax return. Below are the most common deductions for real estate agents:
|In the area of sales:||
|In the area of professional expenses:||
|In the area of communication:||
|In the area of equipment:||
|In the area of automotive:||
It is our goal to create the most advantageous tax saving scenario for your real estate business. In addition, we want to assist you in education on real estate trends, current taxation on short sales and foreclosures, what entity type would best fit you as a real estate agent and provide your prospects with tax advice that is so important to them prior to selling their property.
We wish you much success in your real estate business!
Download your free tax deductibility worksheet.
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