Michael Petruccelli asks: What are some ideas to help me save for a down payment? (2)

Michael Petruccelli says:  Brew Coffee at Home and Save $2,600. Are you a coffee drinker like I am? What are the chances there was a Keurig by the menorah or under the Christmas tree this year? I hope that you’ll start using that coffee machine at home. Doing so can save as much as $2,600 a year, versus buying coffee out each morning. Even better, you can invest in reusable and refillable k-cups to use at home, saving you even more money. If you did not get a new coffee maker consider purchasing a reusable gold coffee filter (they usually carry a lifetime guarantee), and that will also save you money on coffee filters.

Michael Petruccelli asks: What are some ideas to help me save for a down payment?

Michael Petruccelli says: It’s that time of year we set goals and evaluate the past year as the New Year approaches. Most Americans make New Year’s resolutions. They can range from the typical (get fit, eat better) to the altruistic (volunteer more in the New Year). One of the most common resolutions is to lose weight, According to a 2013 Mayo Clinic study proved that people who were given a financial incentive to lose weight not only lost more weight but also kept it off, compared with those in the study who received no incentives.

What if I told you I know a way for you to save approximately $9,000 or more in the New Year? Would that kind of financial incentive inspire you to try these money-saving New Year’s resolutions? If so, here are several ways you can save around $9,000 or more in 2014.

 

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.

Michael Petruccelli asks; Do you have a check list of tax deductions for Realtors?(11)

Michael Petruccelli says;  Checklist of deductions (c)

• interest, such as interest for business loans, interest paid on business credit cards;
• Internet access fees;
• map books;
• office equipment (cost may be deducted in one year using bonus depreciation or IRC Section 179);
• office expenses, including rent, cleaning and maintenance, and utilities;
• office supplies;
• online computer services related to business
• postage;
• professional dues and fees — for example, multiple listing service dues and dues paid to the local Chamber of Commerce, Realtor associations, and real estate license renewal fees;

Michael Petruccelli asks; Do you have a check list of tax deductions for Realtors?(10)

Michael Petruccelli says;  Checklist of deductions (b)

• casual labor and tips
• cell phones;
• computer software;
• computers;
• desk fees;
• education to maintain or improve required skills (but not courses you take to pass the real estate licensing exam);
• home office expenses (if you qualify);
• insurance, including health insurance, errors and omissions insurance, business liability insurance, and business equipment insurance;