November 11, 2013

Michael Petruccelli asks; Do you have a check list of tax deductions for Realtors? (3)



Michael Petruccelli says; For example, if you’re single and your taxable business income is $100,000, every dollar you deduct from your taxable income will save you close to 50 cents in taxes. This includes 28 percent in federal income taxes, 15.3 percent in self-employment taxes, and an average of 6 percent in state income taxes.