December 3, 2013

Michael Petruccelli asks; Do you have a check list of tax deductions for Realtors?(12)



Michael Petruccelli says;  Checklist of deductions (d)
  • referral fees and commission rebates;
  • retirement plan contributions;
  • subscriptions to professional journals;
  • real estate franchise fees;
  • taxes, including payroll taxes for employees, state and local business taxes;
  • telephone service fees;
  • travel to business conventions, including transportation, lodging and food;
  • wages and benefits paid to employees.
Note: Just because you didn't get a receipt doesn't mean you can't deduct the expense, so keep track of those small items.