Maximizing Your Earnings: 7 Tax-Saving Tips for Realtors

Real estate professionals often miss out on valuable tax breaks they’re entitled to. Financial misunderstandings and a lack of effective expense management systems are common culprits. However, CPA Greg Antipoff aka “The Real Estate Accountant" is on a mission to empower agents and brokers with the savvy to retain more of their hard-earned money.

Advice from Realtors to Realtors

Discover seven key strategies that Antipoff will discuss during NAR’s 2024 Tax Summit, a comprehensive webinar series hosted by the Center for REALTOR® Financial Wellness every Wednesday throughout February. These insights promise to revolutionize how you approach taxes in your real estate business.

1. Expense Tracking: Implementing a simple yet effective expense tracking system can ensure you don’t miss out on potential deductions. Antipoff will share practical methods to streamline your expense management process.

2. Deductible Items: Real estate professionals enjoy numerous tax advantages compared to traditional employees. Learn how to leverage these benefits, including deductions for home offices, vehicles, meals, travel, and more.

3. Bonus Depreciation: Stay informed about changes in bonus depreciation rules, particularly concerning investment properties. Antipoff will dissect the latest updates and their implications for real estate investors.

4. Business Entity Compliance: Operating as an LLC or S-Corp offers additional tax benefits, but it’s crucial to navigate legal requirements effectively. Antipoff will unravel the complexities of BOI reporting and its consequences for business entities.

5. Strategic Deductions: Rather than relying on generic deduction lists, learn to tailor deductions to your specific business activities. Antipoff will reveal how to transform ordinary expenses into valuable tax write-offs.

6. Home Office Deductions: Unlock the full potential of home office deductions by understanding the IRS guidelines. Antipoff will provide insights on establishing a qualifying home office and optimizing deductions.

7. Retirement Investments: Start planning for retirement early by allocating a portion of your commission checks to investment funds. Antipoff will outline retirement funding strategies tailored to real estate professionals.

Incorporate these tax-saving strategies into your business plan to gain an edge in real estate. With CPA Greg Antipoff's guidance and insights from NAR's 2024 Tax Summit, navigate taxation confidently. Remember, maximizing earnings means keeping more of what you earn. We're here to support your growth and learning. Contact us for assistance and let's elevate the industry together.

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