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Mount Laurel, NJ: Tips On Missed Tax Deductions for Real Estate Agents

By
Industry Observer with OnPoint Resolution LLC

I represent taxpayers in Mount Laurel and the rest of New Jersey (NJ). List of tips for missed tax deductions for real estate agents. Meet with me today!

1) Tips on Internet Advertising Deduction

Create a folder called "Vendor Bills" on your computer or in your e-mail box create and  use it to save all of your online purchase receipts. That way they will all be in one place and easily accessible when you need them. 

2) Tips on Automotive Expenses Deduction

Keep a travel  log so you can record mileage and expenses that you incur during work based travel time. You can purchase these expense log books at Staples and office supply stores. 

3) Tips on Write-offs for Treating Your Clients Well

Have backup documentation such as receipts or invoices to ensure that the IRS will allow the deduction. The best possible documentation includes:

  • Expense amount
  • Reason for the Expense
  • Date and time of the expense
  • Names of the people you were with and your business relationship to them
  • A receipt or invoice

4) Tip on Office Supplies

Get in the habit of taking a  picture of your receipts with your camera phone. You can then email them to yourself, a great free app for your smart phone that will turn your photos into expense reports in a few clicks. 

OWE BACK TAXES?

If you owe the IRS or state $10,000 or more and are feeling blindsided every year by a huge tax bill -  don't wait. We can help! Call us today at 973.840.7350 for more information about how we will work to settle your debt so that it doesn't become impossible tomorrow. Meet with me today!

Fanta Kaba

OnPoint Resolution LLC

309 Fellowship Road, suite 200

Mount Laurel, NJ 08054

Tel. 973.840.7350

Fax. 347.344.6942

onpoint@onpointresolution.com

www.onpointresolution.com

 

Comments (2)

Roy Kelley
Retired - Gaithersburg, MD

Thank you very much for sharing your experience and your advice.

Have an outstanding week.

Sep 12, 2022 06:06 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Thank you for sharing the information. Wishing you continued success.  Have a wonderful day and sell a house.  bill

Sep 12, 2022 06:15 AM