by Bob Jablonsky EA | Aug 2, 2021 | Dallas TX, IRS Audit, IRS Notices, IRS Problems, Real Estate Agents, Real Estate Agents Tax Deductions, Uncategorized
In a previous blog, I mentioned that as a Real Estate Professional, you file Schedule C, the Tax Form that is the form most audited by the IRS. The IRS has found that Schedule C’s contain a large number of errors compared to other forms and finds that they are...
by Bob Jablonsky EA | Jun 7, 2021 | bookkeeping, IRS Debt Relief, IRS Debt Settlement, IRS Tax Lien, Real Estate Agents, Real Estate Agents Tax Deductions, Real Estate Tax Deductions
While you tax Professional should be able to provide advice on deductions that are available to you, it is you as the Real Estate Agent or broker to understand the concepts of Bookkeeping for Realtors. They understand tax law but they don’t know what is going on...
by Bob Jablonsky EA | Apr 5, 2021 | IRS Compliance, IRS Problems, Real Estate Agents, Real Estate Agents Tax Deductions, Realtors, Small Business Tax Tips, Tax Deductions, Uncategorized
As Self-Employed Independent Contractors, Real Estate Agents may need help in running their business and sometimes it makes sense to hire family. Today, we’ll cover a few areas where it might be helpful to hire your children as well as adult family members to...
by Bob Jablonsky, EA | Mar 18, 2021 | Dallas TX, Real Estate Agents, Real Estate Agents Tax Deductions, Real Estate Tax Deductions, Realtors, Uncategorized
A question that comes up from my Realtor clients along with many other small business owners, is can I deduct my Home Office costs. This has become even more of an issue due to COVID as more and more of us work out of our homes. Today we’ll touch on when...
by Bob Jablonsky, EA | Mar 1, 2021 | Real Estate Agents, Real Estate Agents Tax Deductions, Realtors, Tax Deductions, Tax Deductions Real Estate
As a Real Estate Agent, you most likely find yourself sometimes showing a potential buyer tens of homes before they make a decision to purchase a property (or don’t). While that can be frustrating, it’s important to make sure that as a Realtor you get the...
by Bob Jablonsky | Jan 27, 2020 | Business Tips, Cancelled Debt and Taxes, CP2000 Notice, Dallas TX, Debt Forgiveness, Expense Reduction Tips, Form 1099C, Form 982, Frisco Tx, Garland TX, IRS Assessed Tax, IRS Notices, IRS Penalties, IRS Problems, Offer-In-Compromise, Plano TX, Real Estate Agents Tax Deductions, Richardson TX, Small Business Tax Tips, Tax, Tax Compliance, Tax Deductions, Tax Problems, Tax Relief
As I wrote a week ago, in general, if you borrow money and you are legally obligated to repay that debt at a future date, and if that debt is forgiven in full or in part, the cancelled debt becomes taxable income to you. I also discussed Amounts that could be excluded...
