The real estate agent"s tax deduction guide
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The real estate agent"s tax deduction guide

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Published by Nolo in Berkeley, CA .
Written in English


  • Tax deductions,
  • Real estate agents,
  • Real estate business,
  • Taxation,
  • Law and legislation,
  • Popular works,
  • Handbooks, manuals

Book details:

Edition Notes

Includes bibliographical references and index.

StatementStephen Fishman
LC ClassificationsKF6385 .F57 2012
The Physical Object
Pagination432 p. :
Number of Pages432
ID Numbers
Open LibraryOL25202483M
ISBN 109781413316438, 9781413317091
LC Control Number2011032242

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Note: If you're looking for a free download links of Real Estate Agent’s Tax Deduction Guide, The Pdf, epub, docx and torrent then this site is not for you. only do ebook promotions online and we does not distribute any free download of ebook on this site. HEALTH INSURANCE FOR SELF-EMPLOYED TAX REMINDER As members gather their tax information for their filings, questions arise about the deduction for health insurance premiums. The allowable deduction of health insurance premiums paid by self-employed individuals is % of the premium. Note that the deduction does not apply to premiums that are paid either to an employer's .   Licensed real estate agents are statutory nonemployees and are treated as self-employed for all Federal tax purposes, including income and employment taxes, if: Substantially all payments for their services as real estate agents are directly related to . Sec. A: Deduction for qualified business income. In January, the IRS released Notice , which provides safe-harbor requirements for rental real estate to qualify as a trade or business under Sec. A. To qualify, the real estate must be owned directly or through a disregarded entity.

Some real estate agents prefer to take the standard mileage deduction, which is 50 cents per mile for That means $12, may be tax-deductible for automobile expenses. References (1). Most real estate agents and brokers receive income in the form of commissions from sales transactions. You're generally not considered an employee under federal tax guidelines, but rather a self-employed sole proprietor, even if you're an agent or broker working for a real estate brokerage firm. This self-employed status allows you to deduct many of the expenses you incur in your real estate. The only tax deduction guide specifically for real estate agents and brokers. The tax code is full of deductions for real estate agents and brokers- from travel expenses to wages for employees. But all the deductions in the world won't do you any good unless you know how to take advantage of them. This book covers everything real estate professionals need to know about all the valuable tax. Get this from a library! The real estate agent's tax deduction guide. [Stephen Fishman] -- "Understanding tax deductions can be the difference between having a successful year--or not--for real estate agents and brokers. By taking advantage of the many tax deductions available to them.

+ Real Estate Agent Deductions ***Use this checklist as a starting point for gathering your deductible expenses. Please note that there are certain rules that need to be taken into account in order to legally write off some of these Size: 62KB.   Rehabilitation Tax Credit - Real Estate Tax Tips Taking credit for history. Installment Sales - Real Estate Tax Tips Time is on your side. Involuntary Conversions - Real Estate Tax Tips Destroyed, stolen, or condemned property? Like-Kind Exchanges - Real Estate Tax Tips Defer your gain under Internal Revenue Code Section   The Real Estate Agent's Tax Deduction Guide is a complete guide to tax deductions for people in the business of selling real estate, whether as a broker or salesperson. Chock full of interesting examples and tax cases dealing with real estate agents' unique situations and problems, it provides all the information agents need to know to maximize.   Understanding tax deductions can be the difference between having a successful year--or not--for real estate agents and brokers. By taking advantage of the many tax deductions available to them, real estate professionals can end each year with more money in /5(11).