November 27, 2013

Michael Petruccelli asks; Do you have a check list of tax deductions for Realtors?(8)



Michael Petruccelli says;  Subject to some important exceptions, there is no limit on how much you can deduct, as long as the amount is reasonable and you don’t deduct more than you spend. As a rule of thumb, an expense is reasonable unless there are more economical and practical ways to achieve the same result. If the IRS finds that your deductions were unreasonably large, it will disallow them or at least disallow the portion it finds unreasonable.