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Maximizing Business Taxes as a Real Estate Professional

Posted by wpadmin | Posted in Business and Corporations, Financial Advisement, Government, Personal Finance, Taxes | Posted on 22-01-2016

Tagged Under : #ITPN, 2-hour tax return, business, CBB, cloud based bookkeeping, cloudbasedbookkeeping.com, finance, finances, Income Tax Planning Network, real estate, real estate agent, real estate business, real estate expenses, real estate industry, real estate market, real estate professional, tax deductions, tax return, tax write-offs, theincometaxplanningnetwork.com

What kind of business tax write-offs are we talking about? Plenty. It’s staggering just what you can deduct from your taxes and get some money back for your investment, and make no mistake — in the real estate business, even as our domestic market continues to grow with the surging home prices, foreign interest in U.S. real estate, the burgeoning mortgage trends, and millennials everywhere taking the industry by storm as the newest home buyer of the the rest of this decade, you want to stay ahead in the game with your business investments and keep the revenue flowing.

One Surefire Way to Do That Is to Make Sure You’re Taking Advantage of All of Your Business Taxes

It’s staggering just how much many real estate agents don’t know about their tax returns. This is just a list of what you can deduct for business taxes, but one thing’s for sure: you must consult with a professional at the Income Tax Planning Network and get going now. The faster you do it, the faster you get that tax refund deposit!

Business Travel

Airfare Costs
Car Rentals
Dry Cleaning & Laundry
Lodging
Meals (Yes, meals can be deducted!)
Parking & Tolls
Taxi, Train, Ferry, Boat, Subway & Bus
Tips

Communications

Cell Phones
Answering Services
Faxing and Emails
Interactive Voice Response (IVR)
Internet
Office Telephone (VOIP)
Toll-Free Numbers
Even Pagers!

Supplies & Equipment

Briefcases
Stationary & Other Office Supplies
Calculators
Cameras & Lenses
Vacuum Cleaners
Windex & Soap Scum Remover
Computers, Laptops & Tablets
Flashlights
GPS
Hard & Flash Drives
Lock Boxes & Keys
Maps
Printers & Scanners
Tape Measures
Repair & Maintenance
Security Systems
Utilities
Insurance Costs
Mortgage Interest or Rent
Property Taxes

Your Workforce (If You Have One)

Clerical Support
Family Wages (It’s the Truth, No Joke)
Payroll & Unemployment Taxes
Sales & Virtual Assistants

Other Office Expenses

Desk Fees
Coffee & Drinking Water Provisions
Copier Fees
Janitorial Services

Professional Fees

NAR
NAIREB
NAREB
NAEBA
CREA
Chamber of Commerce
Bank Fees
Bookkeeping
Business Licensure
E&) Insurance
Franchise/Affiliation Fees
Interest on Business Purchases
Legal Fees
MLS Fees
Tax Preparation Fees

Retirement Costs

The Defined Benefit Plan
Self-Employment Pension (SEP)
Simple IRA
Solo 401k

Real Estate Selling Expenditures

Appraisals
CL100’s
Client Gifts (Less Than $25 Per Client)
Closing Attorney Fees
Concessions
Courier Services & Delivery Fees
Finder Fees & Referrals
Listed Property Repairs
Home Warranties
Inspections
Notary Fees
Open House Costs
Photo Editing
Home Staging
Startup Organizational Costs

Overwhelmed, Yet? Don’t Be. This Is All Good for the Business Taxes.

And as a real estate agent, you’ll be doing just fine, especially after looking at this more comprehensive tax write-off guide. Yes, there’s even more you can deduct from your taxes.

So don’t sweat it. You’re doing just fine. You’ve got the business taken care of with CBB, and if you’re ready after itemizing everything from your toothpicks to telemarketing services, register with the Income Tax Planning Network right now and get those taxes done immediately.

The post Maximizing Business Taxes as a Real Estate Professional appeared first on Cloud Based Bookkeeping.

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So what has to be in place? Simply put, government aid. It’s almost a necessity for low-income families. But whether you think it’s a crutch or not, and whether many simply seem to take advantage of the benefits offered by the government, one thing is clear — even the families that do work hard seem to only make it by the skin of their teeth, having to pull from their next paychecks to pay back someone who lent money, or robbing “Peter” to pay numerous “Pauls,” because the fact is this — government aid can only do so much in comparison to personal finances (and, yet, there’s so much going into those funds that it may shock you).

Here Are Five Facts That Just Might Blow You Away With Respect to Government Aid and Low-Income Families

Minimum Wage Jobs Don’t Often Guarantee Raises or Even Consistent Workweeks — Take it from many particular employees, most of them part-time, for certain fast-food chains. When the paychecks aren’t the same every other week, that makes budgeting all the more difficult for low-income families. Find out what those figures are right here.
Food Stamps, While Extensive, Can Fluctuate and Also Promote Bad Health — Think about it for a moment. There’s a lot of money already going into the fund, but the big problem is just what you can exactly buy with your food stamps. This is typically how it would work for a single mother with a low wage of $7.50/hour.
Yes, Low-Income Families Do Put Their Share Into Child Care Benefits — As much as they can possibly put into it, at least…. Given the kind of income they’re literally forced to bring in. Want to know just what they could be responsible for each week?
Additionally, Low-Income Families Do Put Their Share Into Rent and Housing Costs — Granted, there are no handouts. But the numbers might actually shock you when you put it into perspective like this.
Medicaid Will Only Provide for “so Much” to the Point That You’ll Just Want to Get By — It’s basic health insurance. But it’ll only cover certain procedures, prescriptions and other costs, plus there’s still some out-of-pocket concerns at such a low minimum wage that make Medicaid a bit laughable (not due to the government’s lack of assistance, though, and you’ll see why right here).

What Do These Facts Mean to You? That They Prove Benefits Don’t Benefit?

On the contrary…. They certainly make their mark. If it wasn’t for these programs, you’d have single parents on minimum wage or low-income families stuck in homeless shelters without any way to make the rent payment. That’s just a matter of fact….

But when you’ve got a certain fast-food chain making anywhere around $4.8BB in annual profits, it begs the question about employment — why not pay your workers what they earn with all the hours they put in, or want to put in, so they can get off of government aid and not have to pick and choose on their expenses?

Your average low-income worker will have just over $6K in annual income and about $11K in benefits for food, rent and child care. How’s that for a perspective on low-income families?

ITPN recognizes there’s a problem with the current system we have in place. So let’s fix it. Now.

So what has to be in place? Simply put, government aid. It’s almost a necessity. But whether you think it’s a crutch or not, and whether many simply seem to take advantage of the benefits offered by the government, one thing is clear — even the families that do work hard seem to only make it by the skin of their teeth, having to pull from their next paychecks to pay back someone who lent money, or robbing “Peter” to pay numerous “Pauls,” because the fact is this — government aid can only do so much in comparison to personal finances (and, yet, there’s so much going into those funds that it may shock you).

Here Are Five Facts That Just Might Blow You Away With Respect to Government Aid and Low-Income Families

Minimum Wage Jobs Don’t Often Guarantee Raises or Even Consistent Workweeks — Take it from many particular employees, most of them part-time, for certain fast-food chains. When the paychecks aren’t the same every other week, that makes budgeting all the more difficult for low-income families. Find out what those figures are right here.
Food Stamps, While Extensive, Can Fluctuate and Also Promote Bad Health — Think about it for a moment. There’s a lot of money already going into the fund, but the big problem is just what you can exactly buy with your food stamps. This is typically how it would work for a single mother with a low wage of $7.50/hour.
Yes, Low-Income Families Do Put Their Share Into Child Care Benefits — As much as they can possibly put into it, at least…. Given the kind of income they’re literally forced to bring in. Want to know just what they could be responsible for each week?
Additionally, Low-Income Families Do Put Their Share Into Rent and Housing Costs — Granted, there are no handouts. But the numbers might actually shock you when you put it into perspective like this.
Medicaid Will Only Provide for “so Much” to the Point That You’ll Just Want to Get By — It’s basic health insurance. But it’ll only cover certain procedures, prescriptions and other costs, plus there’s still some out-of-pocket concerns at such a low minimum wage that make Medicaid a bit laughable (not due to the government’s lack of assistance, though, and you’ll see why right here).

What Do These Facts Mean to You? That They Prove Benefits Don’t Benefit?

Your average low-income worker will have just over $6K in annual income and about $11K in benefits for food, rent and child care. How’s that for a perspective?

ITPN recognizes there’s a problem with the current system we have in place. So let’s fix it. Now.

Here Are Five Facts That Just Might Blow You Away With Respect to Government Aid and Low-Income Families

Minimum Wage Jobs Don’t Often Guarantee Raises or Even Consistent Workweeks — Take it from many particular employees, most of them part-time, for certain fast-food chains. When the paychecks aren’t the same every other week, that makes budgeting all the more difficult for low-income families. Find out what those figures are right here.
Food Stamps, While Extensive, Can Fluctuate and Also Promote Bad Health — Think about it for a moment. There’s a lot of money already going into the fund, but the big problem is just what you can exactly buy with your food stamps. This is typically how it would work for a single mother with a low wage of $7.50/hour.
Yes, Low-Income Families Do Put Their Share Into Child Care Benefits — As much as they can possibly put into it, at least…. Given the kind of income they’re literally forced to bring in. Want to know just what they could be responsible for each week?
Additionally, Low-Income Families Do Put Their Share Into Rent and Housing Costs — Granted, there are no handouts. But the numbers might actually shock you when you put it into perspective like this.
Medicaid Will Only Provide for “so Much” to the Point That You’ll Just Want to Get By — It’s basic health insurance. But it’ll only cover certain procedures, prescriptions and other costs, plus there’s still some out-of-pocket concerns at such a low minimum wage that make Medicaid a bit laughable (not due to the government’s lack of assistance, though, and you’ll see why right here).

What Do These Facts Mean to You? That They Prove Benefits Don’t Benefit?

Your average low-income worker will have just over $6K in annual income and about $11K in benefits for food, rent and child care. How’s that for a perspective on low-income families?

ITPN recognizes there’s a problem with the current system we have in place. So let’s fix it. Now.

Here Are Five Facts That Just Might Blow You Away With Respect to Government Aid and Low-Income Families

Minimum Wage Jobs Don’t Often Guarantee Raises or Even Consistent Workweeks — Take it from many particular employees, most of them part-time, for certain fast-food chains. When the paychecks aren’t the same every other week, that makes budgeting all the more difficult for low-income families. Find out what those figures are right here.
Food Stamps, While Extensive, Can Fluctuate and Also Promote Bad Health — Think about it for a moment. There’s a lot of money already going into the fund, but the big problem is just what you can exactly buy with your food stamps. This is typically how it would work for a single mother with a low wage of $7.50/hour.
Yes, Low-Income Families Do Put Their Share Into Child Care Benefits — As much as they can possibly put into it, at least…. Given the kind of income they’re literally forced to bring in. Want to know just what they could be responsible for each week?
Additionally, Low-Income Families Do Put Their Share Into Rent and Housing Costs — Granted, there are no handouts. But the numbers might actually shock you when you put it into perspective like this.
Medicaid Will Only Provide for “so Much” to the Point That You’ll Just Want to Get By — It’s basic health insurance. But it’ll only cover certain procedures, prescriptions and other costs, plus there’s still some out-of-pocket concerns at such a low minimum wage that make Medicaid a bit laughable (not due to the government’s lack of assistance, though, and you’ll see why right here).

What Do These Facts Mean to You? That They Prove Benefits Don’t Benefit?

Your average low-income worker will have just over $6K in annual income and about $11K in benefits for food, rent and child care. How’s that for a perspective on low-income families?

ITPN recognizes there’s a problem with the current system we have in place. So let’s fix it. Now.

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