Overnight Accountant, the premier training website for those who want to grow their business, cut their taxes and stay in IRS compliance, has published The Real Estate Agent Tax Cut Library. The library is a fifty-one-chapter, 227-page book designed to help self-employed real estate agents understand and cut their most significant expense - TAXES while steering clear of IRS problems.
Author Brett Hersh, an Overnight Accountant instructor and owner of RealEstate-TaxPro.com, shared his reason for creating the library. “There are three million real estate agents in the United States, professionals who are self-employed as a matter of law. Each of them shares a common challenge - they self-report their tax liability on their individual returns. And they attest that the income and expenses used to make the calculation are correct under penalty of perjury.”
“Unfortunately, taxes are complex and rife with rumor and misinformation. As a result, few agents are armed with the knowledge to minimize their tax due while properly completing their tax return - putting them in harm’s way and at risk for audit. I wrote the Tax-Cut Library – to help reduce agents’ taxes while staying in the IRS’s good graces.”
Hersh, an IRS Enrolled Agent with over twenty years of experience in real estate and small business taxation, is passionate about helping agents keep their hard-earned money. So much so he has also created an eight-hour video training course by the same name. “Agents make three common errors; they either deduct items they legally can’t, overlook items they can, or fail to keep the records needed to substantiate their deductions. The most dangerous and costly mistakes arise in autos, travel, meals, depreciation, and the home office deduction.”
“Hiring a professional may reduce the chance of technical errors, but agents are still losing money to the IRS every year. Every $1,000 deducted saves up to $400 in tax. Tax pros only know what you report to us, but we aren’t by your side throughout the year telling you which activities and purchases cut your taxes and what you must keep proving you are entitled to the expense.”
With The Real Estate Agent Tax-Cut Library, a professional is what you get – standing by your side throughout the year, helping to maximize deductions and minimize taxes while keeping you out of trouble!
The book is a quick reference guide explaining complex tax topics in a manner you can quickly grasp and apply. The library starts with a quick-search index so agents can find answers fast. Are you thinking about leasing a car? The tax implications begin on page 71. What do you need to substantiate cell phone use? Flip to page 199. Only use your home office for part of the previous year? You’ll find your answers on page 214.
It follows the order topics appear on the agent’s reporting form, Schedule C, including expanded sections on deductions that get agents into trouble: Auto, Interest, Meals, Travel, and the Home Office. The library also includes strategies for maximizing tax savings on everyday expenses such as clothing and meals - even writing off the garage-kept vanity car and mixing vacation fun with deductible business travel!
To Recap: Brett’s Tax-Cut library is an essential, money-saving, tax-deductible investment for those who self-prepare and those who hire tax professionals. Updated for 2022, it covers every deduction a Real Estate Agent can take to reduce their most significant expense - TAXES and steer clear of IRS trouble.
DON’T WAIT! START SAVING NOW! CHECK OUT THE REAL ESTATE AGENT TAX-CUT LIBRARY ON AMAZON!
OvernightAccountant.com is a learning institution devoted to helping businesses and organizations achieve their potential, save money, and stay in compliance with tax regulations.
Great course!- Donna L, Phoenix, AZ, 1099-NEC & 1099-MISC Course (Training Edition) Course
Jam packed with info. I feel ready to finalize the year and tackle my taxes!- Cassie, Biloxi, MS, Real Estate Agent Tax-Cut Library, Agent Edition Course
The course did meet my needs and clarified several fine points that the IRS instructions did not make clear to my brain.- Joe, VT, 1120-H Basics Course
I haven’t practiced in the accounting field in quite some time and wanted a refresher. The Overnight Account course 1099-Misc Basics was very helpful! It was simple to follow along and understand each section. I would highly recommend this course! Staff were quick to answer my question as well. I love that I can review the modules again, if needed, at any time. I will definitely be using them again for more classes.- Tammy, Anchorage, AK, 1099-MISC Basics (Training Edition) Course
The course was excruciatingly detailed, which I appreciate. I definitely recommend this course to anyone who even thinks they may need it.- Greg, Brookfield, IL, 1099-MISC Basics Course