The Real Estate Agent S Tax Deduction Guide

"A complete guide to tax deductions for people in the business of selling real estate, whether as a broker or salesperson. It provides all the information agents need to know to maximize their deductions and minimize their taxes"--Provided by publisher.

Selling real estate can be fun; paying taxes is much less fun. Income Taxes for Real Estate Agents is the must-have guide to understanding how the tax system works for real estate agents. This easy-to-read book covers how to report income and expenses; the different types of taxes involved; selecting a business entity; getting tax help from pension plans; how to deduct your health insurance; tracking auto expenses; qualifying for an office in home deduction; staying audit-ready; and best practices for getting along with your tax preparer.

Attention Real Estate Agents! How You Can Save up to $22,300 or more on your TAXES THIS YEAR! Almost every real estate agent is self-employed, and the tax code has countless deductions built into it that only self-employed business owners such as you can take! These deductions can mean saving many thousands of dollars of your HARD- EARNED money - money YOU USED TO HAVE TO SEND TO THE IRS. But not any longer! There is one hitch, though....The IRS doesn't spontaneously apply those deductions on your behalf for you. You have to know, in advance, what the tax law allows you to write off as a deduction. Most of these deductions are NOT AVAILABLE to W2 employees who get a regular paycheck every two weeks. And you have to know how to plan for these deductions, and properly document them. The strategies and methods in this manual are geared toward normally motived real estate professionals, and take little in the way of financial investment to make them succeed. No special skills, or even moderately-hard work are required! Just follow the plan! I can virtually guarantee that there are thousands of dollars in deductions, that you would be eligible for, that you aren't taking now! If you're not taking deductions to which you're entitled, its like flushing your money down the toilet! You could be wasting the proceeds from one or two closings you made this year, just on bad tax planning! Don't let that happen because there's some specialized knowledge you DON'T have. We'll also keep you out of trouble with the section on common Tax Myths - things people write off all the time, that they're just not allowed to! Just knowing what not to do can save you a ton of money in penalties, interest and stress! UPDATED WITH A NEW CHAPTER ON PROPERTY FLIPPING.

Now, South-Western Publishing brings you Ed's plain-English guide to keeping your money. Ed Lyon's Instant Tax Relief for Real Estate Agents offers six easy-to-understand sections outlining how the tax system works, what you need to know about starting your business, tax strategies for buying residential and commercial property, and the most comprehensive list of deductions, credits, loopholes, and strategies for agents anywhere. Special planning guides, filing guides, land mines, and Internet guides flesh out these strategies and give you the tools to help you plan and prepare your financial future.

The Real Estate Agent's Tax Guide is a must have resource for all real estate agents. Everything you need to know regarding taxes is here. You don't have to be a tax expert, but this book will help make you one. The Real Estate Agent's Tax Guide Includes:•Passive losses for the real estate professional•A discussion of all the business expenses that a real estate agent is likely to have•An in depth look at car and truck expenses; the home-office deduction; and travel, meal, and entertainment expenses•All of the taxes associated with Obamacare•In depth look at how the Individual Mandate and premium tax credits may affect real estate agents•The most common way real estate agents get into trouble with their taxes•How to solve their tax problems if they already exist

Understanding Real Estate Investment" is a comprehensive guide that equips readers with the knowledge and strategies to navigate the complex world of real estate investing. Whether you are a beginner seeking to grasp the fundamentals or an experienced investor looking to refine your techniques, this book provides invaluable insights to help you succeed. Starting with a clear definition of real estate investment, the book explores various types of investments, ranging from residential properties to commercial ventures. It elucidates the advantages of investing in real estate, such as long-term appreciation, cash flow, and portfolio diversification. Additionally, it delves into the risks involved, ensuring readers are well-prepared to mitigate potential pitfalls. One of the core sections of the book is dedicated to real estate investment strategies. It offers practical guidance on identifying lucrative investment opportunities, securing financing for properties, analyzing market trends, and developing effective investment plans. By following these proven strategies, readers can make informed decisions that optimize their returns. The book also outlines the essential steps to investing in real estate. It covers critical aspects such as establishing a budget, accurately determining property values, and effectively negotiating offers to close successful deals. Moreover, it provides valuable insights into finding reliable tenants, ensuring a consistent stream of income. Finding the right property is a crucial element of real estate investment, and this book offers comprehensive guidance on conducting property research, evaluating conditions, selecting the ideal location, and analyzing property values. Armed with these insights, readers can make informed decisions that align with their investment goals. Financing real estate investments is another vital aspect covered in this book. It offers a thorough understanding of various financing options, helps readers assess the risks and rewards associated with different approaches, and provides guidance on building a strong credit score. Moreover, it offers practical advice on working effectively with lenders, streamlining the financing process.

You may have already figured out that there are a few myths passed on in the real estate taxation world. Most accountants tell you incorporating is not beneficial but you always wonder why so many real estate investors incorporate their portfolio anyway. You may wonder the different type of deductions are available as a real estate investors and whether you would still have any money left after the Tax Man grab his share. This book gives you all the answers you need to start your Canadian real estate investing journey. From basic taxation 101 to setting up multi layered corporate structure, this books provides a practical guide to maximize your deductions and lower your tax liability.

The first, and still the best, book on tax deductions for residential landlords. This book is designed to be reader-friendly for the millions of small landlords who can’t afford high-priced tax help. It covers everything from depreciation to deducting rental losses to filing a landlord tax return.