For every 1,000 miles driven, $500 in tax deductions can be produced, but the IRS needs documentation of all business and personal trips. The QuickBooks Self-Employed automatic mileage tracker can help.
Top agent deductibles include: marketing materials; mileage; desk & association fees; home office fees (if you don’t have a desk fee); software & business tools; office supplies; meals & entertainment; and travel
Know how much you really earned for each real estate transaction. Did you know QuickBooks Self-Employed helps you easily record commissions and expenses for each listing—plus, you can also deduct the cost of them?
True. You’re 5x more likely to be audited if you don’t report AGI (5.26% compared to .85%, according to the IRS). It’s easy to avoid applying appropriate deductibles when you track your business receipts.