OvernightA very successful real estate agent told me that the secret to her success was this: “Never eat alone.” When I asked her what that meant, she elaborated, “No one makes a sale eating by themselves. You’re going to eat anyway - do it forming relationships that generate the referrals and close the deals. Plus, you get to write off every meal!”
As a real estate agent, you spend a lot of time meeting with clients, prospective clients, and networking partners. Hopefully, all these coffee house breakfasts and buffet lunches are generating listings and real estate closings. But, are these business meals cutting your tax bill?
Twenty-plus years of preparing real estate agent tax returns reveal that for most the answer is a resounding “NO.”
Why Real Estate Agents Lose Business Meal Deductions: Three reasons:
- They fail to structure business-meeting-meals to qualify for a deduction.
- They fail to keep adequate records to prove the meals were deductible (or even remember the meals occurred).
- They forgo the deduction because they don’t understand the rules & fear the IRS. The IRS knows that most real estate agents do not understand meal deduction rules, making it a highly scrutinized and often-denied deduction.
This is why we created the Real Estate Agent: Business Meals Deduction course and why you will find it such a valuable asset.
In this course you will learn to:
- Structure your business meals to ensure they are deductible
- Keeping adequate records so you never lose a meal deduction
- Overcome the fear of deducting legitimate business meals
- Audit-proof your deduction so it is not denied if questioned by the IRS
We want you to keep more of your hard-earned money where it belongs: In YOUR pocket, and there’s only one way to do that: Maximizing Legitimate Tax Deductions. Cut your largest expense, TAXES!
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.