True or False: When Entertaining for Business, Your Meal Is Deductible
False. For business entertainment deductions, you are allowed to take a meal deduction only for the client, and only if...
Business Tip of the Day
3 Must-Know Rules for Deductions
According to the IRS, to ensure your deductibles qualify, a real estate business expense must be: ordinary and necessary; directly...
Do You Have a Business Credit Card?
If you maintain a balance on your business credit card, the interest rate is deductible as a business expense.
Standard Mileage Deduction
If you drive 10,000 miles or more per year for your real estate business, it's likely you'll get the greatest...
Why You Should Have a Business Account
Agents who set up separate business bank accounts can track their transactions easier, especially if they also use expense tracking...
Maximize Deductions and Minimize Expenses
Qualified deductions like mileage, meals, and entertainment are all set by the IRS. Consult IRS publication 334 for small businesses...
Office Supply Deduction Tip
Large office purchases can be expensed in full, or depreciated over a number of years. This includes furniture, fax machines,...
Deduct Your Computer Expenses
Any software needed to run your business is fully deductible, including lead generation subscription services such as customer-relationship management (CRM)...
Spend A Lot of Time in Your Car?
For every 1,000 miles driven, $500 in tax deductions can be produced, but the IRS needs documentation of all business...
Software and Business Tools Deductions Tip
Software products such as QuickBooks Self-Employed not only help you automatically track your expenses and mileage, but may be deducted,...
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