OvernightReal Estate Agents Articles
Few real estate agents have a working knowledge of what and when a transaction or activity constitutes a tax deduction. Tax prep software is all but worthless, and by the time agents who use tax professionals meet with them, it’s too late. These articles are intended to help give agents the confidence to take every deduction that they have available.- Slash Taxes with the 2024 Real Estate Agent Tax-Cut Library – Real Estate Tax Guide Learn how the 2024 Real Estate Agent Tax-Cut Library helps real estate agents reduce taxes, maximize deductions, and stay IRS-compliant. Order now! Published: 01/13/2025 - Edited: 01/17/2025
- Deducting Business Attire, Real Estate Agents & Small Business Owners In this article, we'll discuss work clothing that is (and is not) deductible. Published: 11/09/2020 - Edited: 01/17/2025
- Tips For Deducting Cell Phone Use by Real Estate Agents & Small Business Owners This article will discuss how the deduction for verbal business communication has changed with the growing prevalence of cellular phones. Published: 11/03/2020 - Edited: 02/14/2022
- Other Deductible Expenses on Schedule C Real Estate Agents & Small Business Owners Here is a non-inclusive list of everyday real estate expenses that get deducted as Other Expenses (and some outlays that are not deductible at all). Published: 10/29/2020 - Edited: 11/09/2020
- Deducting Wages, Real Estate Agents & Schedule C Understanding wages deducted by self-employed Real Estate Agents. Published: 10/21/2020 - Edited: 10/22/2020
- Deducting Utilities, Real Estate Agents & Schedule C Deducting utilities on your Schedule C is relatively straightforward but determinig where they get deducted depends on the location of the utilities. Published: 08/24/2020
- Deducting Business Meals, Real Estate Agents & Sole Proprietors In this article, we’ll discuss what business meals are deductible and, in the process, address some of the misconceptions surrounding deducible business meals. Published: 07/22/2020 - Edited: 07/25/2022
- Deducting Domestic Travel Part Four: Substantiating Business Travel Deduction In this, our final travel article, I'll provide tips on substantiating your travel deduction. Published: 06/22/2020 - Edited: 06/24/2020
- Deducting Domestic Travel Part Three: Deductible Expenses In this article, we'll discuss when and what travel costs are deductible. Published: 06/15/2020 - Edited: 07/25/2022
- I’m a Real Estate Agent, Do I Qualify for the 20% Income Deduction? The vast majority of self-employed real estate agents will qualify for the 20% Income Deduction! Here's how. Published: 06/14/2020 - Edited: 07/15/2022
- Deducting Domestic Travel, Part Two: Maximizing Business Days In this article, we will dig a little deeper into the pivotal and most challenging test to pass, number four - Primary Business Purpose. Published: 05/26/2020 - Edited: 06/26/2020
- Deducting Travel Expenses as a Real Estate Agent, Part One: The Four Tests This article explains four criteria required for trips to meet the IRS definition of deductible business travel. Published: 04/27/2020 - Edited: 06/26/2020
- Free Tax Organizer for Real Estate Agents The Real Estate Agent Tax Organizer is a fillable pdf file that contains every deduction-line on Schedule C. It also includes a section for Auto Mileage and expenses, and a complete Home Office Section. Published: 01/22/2020 - Edited: 02/13/2023
- Real Estate Agents, Deducting Taxes and Licenses on Schedule C This article will help you accurately report tax and license costs on Line 23 (and make sure you do not expense costs that are illegal to deduct). Published: 12/23/2019 - Edited: 04/20/2020
- Real Estate Agents, Deducting Supplies on Schedule C Items that are regularly consumed by your business are supplies and are generally deductible in the year of purchase. Published: 12/05/2019
- Real Estate Agents, Deducting Repairs and Maintenance With a few exceptions, items deducted as repairs and maintenance are pretty straight-forward. Published: 11/29/2019 - Edited: 04/20/2020
- Real Estate Agents, Deducting Rent & Leases on Schedule C This article will explain how and where is rent is deducted by a sole proprietor Real Estate Agent. Published: 11/29/2019 - Edited: 04/20/2020
- Real Estate Agents, Schedule C, Line 19 - Pension & Profit-Sharing Plans Deduct employer contributions and administrative costs of employee retirement plans on Line 19, Pension and Profit-Sharing Plans. Published: 11/18/2019 - Edited: 04/20/2020
- Real Estate Agents, Deducting Office Expenses Clarifying what is and is not deductible on Line 18 of Schedule C is the topic of this article. Published: 11/12/2019 - Edited: 04/20/2020
- Real Estate Agents, Deducting Legal and Professional Services This article will help you understand what is and is not deductible on Line 17, Legal and Professional Services. Published: 11/12/2019 - Edited: 04/20/2020
- Real Estate Agents, Deducting Interest Expense Part Three: Deducting Loan Interest Once you know business loan interest is deductible, the next question is Where and when do I take the deduction. This article answers this question. Published: 10/29/2019 - Edited: 04/20/2020
- Real Estate Agents, Deducting Interest Expense Part Two: Business Use of Loan Proceeds This article will help agents understand the business-purpose requirement while pointing out a common pitfall that threatens their interest deduction. Published: 10/25/2019 - Edited: 04/20/2020
- Real Estate Agents, Deducting Interest Expense Part One: Meeting the Loan Definition When is the interest paid on loans deductible on Line 16 of Schedule C, Profit and Loss from Business? Published: 10/18/2019 - Edited: 04/20/2020
- Real Estate Agents, Deducting Insurance (other than Health) This article will discuss premiums deducted on Line 15 of Schedule C, Insurance (other than health). Published: 10/08/2019 - Edited: 04/20/2020
- Real Estate Agents, Deducting Employee Benefit Programs Some things to consider when hiring as a real estate agent. Published: 10/04/2019 - Edited: 04/20/2020
- Real Estate Agents, Bonus Depreciation & Section 179 Expense This article will discuss Bonus Depreciation and Section 179 Expense as it applies to personal property purchases of Real Estate Agents and small business owners. Published: 09/29/2019 - Edited: 04/20/2020
- Real Estate Agents, Depreciation Expense This article will discuss the basics of depreciation as it applies to other items commonly depreciated by real estate agents. Published: 09/19/2019 - Edited: 04/20/2020
- Real Estate Agents, Commissions & Fees, Contract Labor & Depletion In this article, we will continue our line-by-line Schedule C discussion, with three more deductions: Commissions and Fees, Contract Labor, and Depletion Published: 09/06/2019 - Edited: 04/20/2020
- Real Estate Agents, Home Office Deduction Actual Cost Method Part Two: Home Office Depreciation This article wraps up the Actual Cost Method with the basics of home office depreciation. Published: 09/03/2019 - Edited: 04/20/2020
- Real Estate Agents, Home Office Deduction Actual Cost Method Part One: Direct and Indirect Costs This article will introduce the Actual Cost Method and discuss direct and indirect home office expenses. Published: 08/29/2019 - Edited: 04/20/2020
- Real Estate Agents, Home Office Deduction Methods & the Simplified Method This article will introduce the Simplified Method and the Actual Cost Method, share the basic rules that govern the home office deduction, and explain the Simplified Method. Published: 08/15/2019 - Edited: 04/20/2020
- Real Estate Agents, Home Office Deduction Requirements This article will discuss the IRS requirements for having a deductible home office. Published: 08/14/2019 - Edited: 02/28/2022
- Real Estate Agents, Auto Expenses: Deducting a Leased Vehicle The goal of this article is to help you to understand the deductibility of leasing a vehicle. Published: 07/30/2019 - Edited: 04/20/2020
- Real Estate Agents, Auto Expenses: Bonus Depreciation & Section 179 Expense This article expands on our article covering auto depreciation by sharing the basics of Bonus Depreciation and the 179 Expense as they pertain to vehicles. Published: 07/24/2019 - Edited: 04/20/2020
- Real Estate Agents, Deducting Auto Expenses: Depreciation Basics In this article we'll cover the basics of auto depreciation. Published: 07/22/2019 - Edited: 04/20/2020
- Real Estate Agents, Deducting Auto Expenses: The Actual Cost Method Thinking of using the Actual Cost method of deducting auto use? Here are the pro's and con's of this method. Published: 07/11/2019 - Edited: 04/20/2020
- Real Estate Agents, Auto Deduction Options: Standard Mileage Rate Regardless, of how you use your driving-time, life behind the wheel offers one key benefit (at least we tax-pros think so) – it’s all deductible! Published: 07/03/2019 - Edited: 04/20/2020
- Real Estate Agents, Deducting Promotional Donations For community-minded real estate agents, the question isn’t whether to support local charities; it’s how to maximize their value! Published: 06/26/2019 - Edited: 04/20/2020
- Real Estate Agents, Deducting Promotional Items & Gifts There are tax consequences to gifts and giveaways, and many agents are surprised to learn just how stringent the IRS rules are. Published: 06/12/2019 - Edited: 04/20/2020
- Real Estate Agents, Common Advertising Deductions Learn about some of the Ordinary and Necessary Advertising expenses that are deductible for Real Estate Agents. Published: 06/06/2019 - Edited: 04/20/2020
- Real Estate Agents & Contractors, Writing Off Personal Items Used in Business Using personal property in a business is called converting personal items to business use and is deductible if you follow the rules! Published: 06/03/2019 - Edited: 04/20/2020
- Real Estate Agents, Overview of Income and Deductions Realtors, listen up! Every dollar you deduct as a business expense saves forty cents in tax, and puts it into your pocket! Published: 06/03/2019 - Edited: 04/20/2020
- Real Estate Agents, Are License Training & Exam Fees Deductible? In this article, we’ll discuss why training costs are not deductible when calculating a real estate agent’s taxable income. Published: 05/23/2019 - Edited: 04/20/2020
- Proving your Deductions, Easy Recordkeeping for Real Estate Agents A look at the two primary reasons real estate agents lose deductions and pay more tax than they should. Published: 05/20/2019 - Edited: 08/18/2020
- Real Estate Agents & Self-Employment Tax Real Estate Agents are self-employed – independent contractors in business for themselves, responsible for paying their own taxes. Published: 05/06/2019 - Edited: 01/07/2022
- Is Your Real Estate Business a Hobby? Avoiding the Hobby Tax-Trap Are you a real estate agent with a business or a hobby? You should nail that down. Published: 12/06/2018 - Edited: 08/26/2021
- No Proof - No Deduction, An Easy Way to Track Mileage For Real Estate Agents & Small Business Owners No proof, no deduction. A three-step process for tracking mileage to substantiate your tax deductions. Published: 10/04/2018 - Edited: 04/20/2020
- Real Estate Agents: What Auto Use is Deductible? A Lot More if You Have a Home Office! The auto deduction is a real estate agent’s largest tax deduction. We show you how you can make the most of this deduction. Published: 03/30/2018 - Edited: 01/03/2022
- Real Estate Agents, the #1 key to maximizing your tax deductions is your home office Maximum tax deductions for real estate agents start with having a qualified home office. This article explains the "Why?" and "How?" of setting up a home office. Published: 03/12/2018 - Edited: 01/18/2022
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- I’m a Real Estate Agent, Do I Qualify for the 20% Income Deduction?
- Real Estate Agents, Auto Expenses: Deducting a Leased Vehicle
- Real Estate Agents: What Auto Use is Deductible? A Lot More if You Have a Home Office!
- Real Estate Agents, Auto Expenses: Bonus Depreciation & Section 179 Expense
- Deducting Business Meals, Real Estate Agents & Sole Proprietors
- Real Estate Agents, Deducting Auto Expenses: The Actual Cost Method
- Real Estate Agents, Deducting Promotional Items & Gifts
- Deducting Travel Expenses as a Real Estate Agent, Part One: The Four Tests
- Real Estate Agents, Deducting Auto Expenses: Depreciation Basics
- Real Estate Agents, Home Office Deduction Requirements
- Real Estate Agents, Are License Training & Exam Fees Deductible?
- Tips For Deducting Cell Phone Use by Real Estate Agents & Small Business Owners
- Deducting Business Attire, Real Estate Agents & Small Business Owners
- Real Estate Agents, Bonus Depreciation & Section 179 Expense
- Real Estate Agents, Commissions & Fees, Contract Labor & Depletion
- No Proof - No Deduction, An Easy Way to Track Mileage For Real Estate Agents & Small Business Owners
- Real Estate Agents, Deducting Taxes and Licenses on Schedule C
- Deducting Utilities, Real Estate Agents & Schedule C
- Real Estate Agents & Self-Employment Tax
- Real Estate Agents, Overview of Income and Deductions
- Real Estate Agents, Deducting Rent & Leases on Schedule C
- Real Estate Agents, Common Advertising Deductions
- Is Your Real Estate Business a Hobby? Avoiding the Hobby Tax-Trap
- Real Estate Agents, Auto Deduction Options: Standard Mileage Rate
- Free Tax Organizer for Real Estate Agents
- Real Estate Agents, Depreciation Expense
- Other Deductible Expenses on Schedule C Real Estate Agents & Small Business Owners
- Real Estate Agents, the #1 key to maximizing your tax deductions is your home office
- Real Estate Agents, Deducting Promotional Donations
- Real Estate Agents, Deducting Legal and Professional Services
- Proving your Deductions, Easy Recordkeeping for Real Estate Agents
- Real Estate Agents, Home Office Deduction Actual Cost Method Part One: Direct and Indirect Costs
- Real Estate Agents, Deducting Repairs and Maintenance
- Real Estate Agents, Schedule C, Line 19 - Pension & Profit-Sharing Plans
- Deducting Domestic Travel Part Three: Deductible Expenses
- Real Estate Agents, Deducting Office Expenses
- Deducting Wages, Real Estate Agents & Schedule C
- Real Estate Agents, Deducting Supplies on Schedule C
- Real Estate Agents, Home Office Deduction Methods & the Simplified Method
- Real Estate Agents & Contractors, Writing Off Personal Items Used in Business
- Deducting Domestic Travel, Part Two: Maximizing Business Days
- Deducting Domestic Travel Part Four: Substantiating Business Travel Deduction
- Real Estate Agents, Home Office Deduction Actual Cost Method Part Two: Home Office Depreciation
- Real Estate Agents, Deducting Interest Expense Part One: Meeting the Loan Definition
- Real Estate Agents, Deducting Insurance (other than Health)
- Real Estate Agents, Deducting Interest Expense Part Two: Business Use of Loan Proceeds
- Real Estate Agents, Deducting Employee Benefit Programs
- Real Estate Agents, Deducting Interest Expense Part Three: Deducting Loan Interest
- Slash Taxes with the 2024 Real Estate Agent Tax-Cut Library – Real Estate Tax Guide