REAL ESTATE PROFESSIONALS

Are you a real estate professional? Here is a helpful list of the many deductions available to you.

Advertising

  • Billboards
  • Brochures/Flyers
  • Business Cards
  • Copy Editor Fees
  • Direct Mail
  • Email Marketing and Newsletters
  • Graphic Designer Fees
  • Internet Ads (Google, Facebook, etc.)
  • Leads/Mailing Lists
  • Marketing Services
  • Networking Event Costs
  • Post Cards
  • Print Ads (Newspapers and Magazines)
  • Promotional Materials
  • Radio Ads
  • Signage/Banners
  • Television Ads
  • Web Design
  • Web Hosting and Domain Fees

Agent Improvement

  • Books (Sales Books, RE Books, etc.)
  • Continuing Education
  • Magazine Subscriptions
  • Newsletter Subscriptions
  • Sales Training/Coaching
  • Seminars
  • Textbooks/Reference Books
  • Trade Publications

Auto

Either Business Mileage (55.5 cents per mile) Or…

Auto Expenses

  • Car Washes
  • Depreciation/Lease Payments
  • Gas
  • Insurance
  • Interest
  • License/Registration
  • Maintenance
  • Repairs
  • Tires

Both Methods can Deduct

  • Car Washes
  • Tires

Business Travel

  • Airfare
  • Car Rental
  • Dry Cleaning/Laundry
  • Lodging
  • Meals
  • Parking/Tolls
  • Taxi, Train, Subway, Bus
  • Tips

Business Meals, Business Entertainment, Communication

  • Answering Services
  • Cell Phone Service
  • Fax Expenses/Efax
  • Interactive Voice Response (IVR)
  • Internet Service
  • Office Telephone/VOIP
  • Pagers (those still exist?)
  • Toll Free Number

Equipment

  • Briefcase
  • Calculator
  • Camera/Lenses
  • Cellphone/Smartphone
  • Cleaning Equipment (Vacuum Cleaner)
  • Computer
  • Equipment Repair
  • Flashlight
  • GPS
  • Hard Drives/Thumb Drives
  • Ipad/Tablet PC/Android
  • Laptop
  • Lock Boxes/Locksmiths/Keys
  • Maps
  • Printer
  • Scanner
  • Staging Items – Furniture
  • Tape Measure
  • Video Camera

Employee Wages

  • Clerical Support
  • Family Wages (kids/spouses… really)
  • Payroll/Unemployment Taxes
  • Sales Assistant
  • Virtual Assistant

Health Insurance, Home Office

  • Insurance
  • Mortgage Interest/Rent
  • Property Taxes
  • Repairs/Maintenance
  • Security System
  • Utilities

Office Expenses

  • Desk Fees
  • Client Refreshments (Coffee, Water, etc.)
  • Copier Fees
  • Janitorial Services
  • Office Furniture
    • Bookshelves
    • Chairs
    • Desks
    • Filing Cabinets
  • Office Supplies
    • Envelopes
    • Folders
    • Paper
    • Pens
    • Postage
    • Stationary
    • Toner/Ink
  • Office Rent
  • Online Storage of Business Files
  • Software

Professional Fees

  • Association Dues/Fees
    • NAR
    • NAIREB
    • NAREB
    • NAEBA (how many combos of those letters are there???)
    • CREA
    • Chamber of Commerce
  • Bank Fees
  • Bookkeeping Fees
  • Business Licenses
  • E & O Insurance
  • Franchise/Affiliation Fees
  • Interest on Business Purchases
  • Legal Fees
  • MLS Fees
  • Tax Prep Fees

Retirement

  • Defined Benefit Plan
  • Self Employment Pension (SEP)
  • Simple IRA
  • Solo 401k

Selling Expenses

  • Appraisal Fees
  • CL100 Fees
  • Client Gifts (<$25 per client)
  • Closing Attorney Fees
  • Concessions
  • Courier Services/Delivery Fees
  • Finder Fees/Referral Fees
  • Home Repairs to sell listed property
  • Home Warranty
  • Inspection Fees
  • Notary Fees
  • Open House Expenses
  • Photo Editing
  • Staging Fees

Start Up Expenses

  • Including organizational costs