According to the National Association of Realtors, the average realtor drives 30,300 miles per year! It’s the largest tax deduction most realtors have on their tax returns. Properly tracking and reporting all these miles represents a potential tax savings of over $7,000 per year!
As a realtor, you are considered a statutory non-employee for tax purposes. This means that you are treated as independent contractors by law. If you’re a commission-paid realtor… Congratulations! You’re a business owner!
Being a business owner definitely has its advantages. You are free to make your own hours and no longer shackled to a salary or an hourly wage. You control your financial destiny and can earn as much money as your talent and energy will allow. Capitalism at its finest. Boom!
But, being in business also has some surprising challenges. Chief among them is minimizing your largest expense: TAXES! If you’re a realtor whose spouse works or who has another job it is highly likely that every single dollar you earn from real estate will cost you well over forty cents in tax! Seriously. 40¢ per dollar. Still feel like hand to hand combat is the way to go? Yes? Read on my friend.
If you’re a realtor whose spouse works or who has another job it is highly likely that every single dollar you earn from real estate will cost you well over forty cents in tax!
This series is a valuable asset in helping you maximize legitimate tax deductions. It will help you cut your largest expense, TAXES. We want you to keep more of your hard earned money in YOUR pocket and there’s only one way to do that… wring every legitimate tax deduction you can find out of the tax code.
You will learn to squeeze every allowed deduction out of your business vehicle(s), how to audit-proof your auto deduction and, most importantly, how to maximize and simplify your mileage deduction by having a qualifying home office!
Remember, every $1,000 in deductions equals up to $430 in tax savings! Put more money in your pocket with Overnight Accountant’s Realtor: Auto and Home Office Deduction training course!
All courses and articles are for informational purposes only and do not constitute tax advice. Taxes are complicated - do not act on course information without consulting a professional. Always refer to treasury regulation before making any tax decision. Read the full disclaimer.
The Broker Edition of this library will help your realtors stay in compliance with tax regulations and minimize the amount of taxes they have to pay!Learn More About Comprehensive Tax-Cuts for Realtors Library, Broker Edition
This library will help realtors stay in compliance with tax regulations and minimize the amount of taxes you have to pay!Learn More About Comprehensive Tax-Cuts for Realtors Library, Agent Edition
Business meals can not only grow your business, but also, cut your tax bill! Learn to maximize your legit tax deductions!Learn More About Deductible Business Meals for Realtors
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