The Real Estate Agent S Tax 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.

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.

In clear, simple language, The Real Estate Investor's Tax Guide helps real estate professionals and property owners understand the complicated area of real estate investment tax law. Containing practical tax planning strategies, sample forms, and warnings about costly planning errors, this is a must-have reference for making sound investment strategies. This guide also discusses taxation at the time of sale, like-kind exchange rules, real estate investment during troubled times, and applying the passive loss regulations.

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.

"I would consider this the bible for any Canadians wanting to invest in US real estate." —W. Brett Wilson, Entrepreneur, Recipient of the Order of Canada, and former Dragon The thought of buying property in the United States has been on your mind. Perhaps family members or friends already own real estate in the Sunbelt and you've enjoyed the occasional visit. You sense the market isn't as frenzied as it once was but there is still very good value to be found. Whether you are looking for a vacation home or an investment property, you are certainly not alone. Canadians continue to buy U.S. real estate at a record pace. But as the economy and laws change around ownership of U.S. property, Canadians need to have the most current information possible at their fingertips. Buying U.S. Real Estate: The Proven and Reliable Guide for Canadians is written by experts who own U.S. property and addresses the many cross-border issues and requirements, such as: How to begin your search and find relevant data Finding the experts you need on your side Knowing that a property meets your lifestyle needs and wants Knowing all of your finance options How to proceed with renovations or upgrades What you need to know about U.S. tax laws What type of ownership is best aligned with your strategy How to create an estate plan For Canadians generally, and boomers especially, the right property in the right destination point is integral to their life-rich philosophy. Buying U.S. Real Estate: The Proven and Reliable Guide for Canadians puts all of the pieces of the puzzle together and is an essential guide to reaching one's ultimate destination.

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.

Federal Taxation of Real Estate Exchanges is a crash course in the art of the deferred real estate exchange. Learn easy steps to sell old real estate and buy new without paying federal income taxes by using IRS safe-harbor exchange rules. It's the definitive guide to taxation of real estate exchanges for real estate investors and serious professionals who are seeking a growing sophistication and appreciation of how powerful the deferred exchange is in the fast changing world of real estate investments. Federal Taxation of Real Estate Exchanges was first born as a three-day continuing education seminar which author Rich Robinson wrote and taught to thousands of real estate agents, CPAs and investors from coast-to-coast. During this time Rich teamed up with real estate broker and Qualified Intermediary, Jim Maxwell. By combining Rich's years of experience as a CPA, writing and teaching federal taxation of real estate transactions and Jim's practical "street smart" knowledge and background in real estate exchanging, they created a new educational program presented at the National Association of Realtors(R) Annual Convention. This course is based on that highly successful program.

"A Real Estate Agent's Guide to Pay Less Tax & Build More Wealth" by Michael Haller is a comprehensive exploration of powerful tax-saving tools designed to reduce yearly tax burdens for real estate professionals significantly. This guide not only offers insights into various tax-saving strategies but also provides paths for building a greater financial net worth.