Understanding tax deductions can be the difference between having a successful yearor notfor real estate agents and brokers. By taking advantage of the many tax deductions available to them, real estate professionals can end each year with more money in their pockets and less owed to the IRS. Too often, these valuable deductions are overlooked, even though it's easy to take advantage of them once you understand the rules. This book explains all you need to know in plain English with lots of examples and practical information.
Learn about the most important deductions and how to plan and track your expenses all year so you avoid problems with the IRS. The information is organized into categories that explain the rules for each type of deduction, including:
- start-up expenses
- operating expenses
- home and outside office
- health care
- vehicles and travel
- entertainment and meals
- and many more
It also explains essentials like depreciation deductions, deducting losses, and keeping proper records.
|Edition description:||Third Edition|
|Product dimensions:||6.90(w) x 8.90(h) x 1.10(d)|
About the Author
Stephen Fishman is the author of many Nolo books, including Deduct It! Lower Your Small Business Taxes, Every Landlord's Tax Deduction Guide and Home Business Tax Deductions: Keep What You Earn—plus many other legal and business books. He received his law degree from the University of Southern California and after time in government and private practice, became a full-time legal writer.
Table of Contents
Your Tax Deduction Companion for Real Estate Agents
1. Tax Deduction Basics for Real Estate Agents and Brokers
2. Choosing the Legal Form for Your Business
3. Are You Really in Business?
4. Getting Around Town: Deducting Local Travel Expenses
5. Leaving Town: Deducting Travel Expenses
6. Romancing the Client: Deducting Meal and Entertainment Expenses
7. Deducting Your Home Office
8. Deducting Your Sales Office
9. Deducting Cars, Cell Phones, Computers, and Other Long-Term Assets
10. Getting Going: Deducting Start-Up Expenses
11. If You Get Sick: Medical Deductions
12. Deductions That Can Help You Retire
13. Business Operating Expenses and Other Deductions
14. Independent Contractors and Employees in Real Estate
15. Real Estate Professionals Who Own Rental Property
16. Staying Out of Trouble With the IRS
17. The Boring Stuff: Record Keeping and Accounting