5 Things To Read Before Doing Your Taxes

It’s that time of year again – Tax Season! Whether you are just starting out as A REALTOR® or you’re a seasoned professional, it is always a good idea to brush up on the latest news and tips when it comes to preparing and filing your taxes. We have compiled some of our favorite resources below:

1)  9 Tax Deductions Every Real Estate Agent Should Know

If you are looking to maximize your deductions this year, then this blog post from REALTOR®Mag is for you. It covers nine of the top deductions that can help you keep more of those hard earned dollars. Vehicle Mileage, Office Supplies, and even software are included in this must-read article.

 

2)  Real Estate Tax Tips from the IRS

The IRS has compiled several great tips specifically for people in the real estate industry. Whether you are an employee or self-employed, you will find some great advice on this website.

 

 3)  5 Real Estate Tax Secrets the Rich Don’t Want You to Know

If you have any investment properties, then this blog post from realtor.com is for you. The highly wealthy are maximizing their tax savings every year, so why shouldn’t you? here are a lot of great tips here, including taking advantage of ‘safe harbors’,  depreciating your rental property, and taking advantage of the 1030 exchange.

 

4)  7 Tips to Help Late-Filing REALTORS® Avoid an IRS Audit

Let’s face facts: REALTORS® are busy. Like many Americans, we often wait until the last week to prepare and file our taxes. If you fall into this category, make sure you read this article from RISMedia on how to avoid an audit from the IRS.

 

5)  NAR Discount on QuickBooks® Self-Employed + TurboTax®

Finally, if you are preparing your own taxes this year, the National Association of REALTORS® is offering several discounts on QuickBooks® Self-Employed + TurboTax®. Find out more details here.