Many real estate pros struggle through tracking mileage, separating business and personal expenses, staging and photography expenses, and trying to determine what gifts, meals, or travel can be written off on their taxes. My practice is primarily focused on serving Realtors, builders and developers, landlords, appraisers, and other real estate professionals, and we can help. It’s amazing how many people are in the market for homes that don’t even know they have a federal IRS or Ohio tax lien.

 

And what is REALLY deductible as home office expense?

 

Busy real estate pros don’t always have time to research all the seemingly contradictory rules in the convoluted IRS code.

 

Worse yet, many tax preparers out there don’t know the difference between a desk fee and a commission split, or how new IRS Obamacare reporting requirements impact the self-employed. Do you really trust them to do your taxes?

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Tax Deductions for Realtors you may not be aware of:

• advertising expenses, including websites, mailing lists, newspaper advertising, fliers, online advertising, postcards, promotional materials, logo clothing, and anything else you pay for to market your real estate business

 

• car and truck expenses, including business mileage, depreciation, insurance, interest on car loans, lease payments, license plate fees, parking expenses, and tolls

 

• bookkeeping, accounting and legal fees

 

• business gifts (up to $25)

 

• business meals and entertainment (at 50%)

 

• Uber, and cab fares for business travel

 

• cell phones

 

• computer software

 

• computers

• office equipment office expenses, including rent, cleaning and maintenance, and utilities

 

• desk fees

 

• education to maintain or improve required skills

 

• home office expenses

 

• insurance, including health insurance, errors and omissions insurance, business liability insurance, and business equipment insurance

 

• interest, such as interest for business loans, interest paid on business credit cards

 

• internet access fees

 

• map books

 

• office supplies

 

• 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

 

• 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.

We can also help your clients with liens and other IRS issues.

 

We want you to  understand the process we use to resolve your tax problems. The IRS, the Ohio Attorney General, BWC, and Department of Taxation have differing eligibility requirements; and we let you know what options are available to you. This is based on a review of your IRS and State tax filings, and other tax and accounting records you supply.

Brad Hennebert

CPA, Tax Resolution Specialist, Business & Real Estate Tax

(614) 524-4888

6650 WALNUT ST.
NEW ALBANY, OH 43054

Also, check out my new book GET THE IRS OFF YOUR BACK! available on Amazon now.

WE RESOLVE EACH CASE WITH THE STEPS NEEDED TO SOLVE YOUR TAX PROBLEM

Steps we can take:

• NEGOTIATE AN OFFER FOR A DISCOUNTED SETTLEMENT.
• ASK FOR AN APPEAL OF THE TAXES.
• REQUEST A REDUCTION IN PENALTIES.
• OFFER A PAYMENT PLAN.
• FILE UNFILED TAX RETURNS.
• IF NECESSARY, WE WILL REPRESENT YOU IN AN IRS AUDIT OR HEARING SO YOU DO NOT HAVE TO APPEAR.