Pro-ledgers Blog

Real Estate Sales Representative - Royal LePage / Moneyledgers Software
Just released this new intro video on bookkeeping software designed for Real Estate Agents in the USA.   Features include: Free apps for smartphones and tablets, take pics of receipts that attach themselves to your entries,  import data from online accounts. Super easy to use & setup in minutes. ...
As a Real Estate Agent, do you clearly understand the differences between the services of a bookkeeper and an accountant?  Both are enormously beneficial to your business, it is important you understand the differences.  Here are 3 mistakes to avoid: Never expect a bookkeeper to do the job of an ...
From time to time a real estate agent may travel away from home to attend a conference, seminar, or conduct other business related activities. On these business trips, you may be able to deduct lodging, meals, transportation, and other related business expenses. It is important to understand that...
In the back of every agent and business person's mind is the potential for a tax audit.  Don't wait until that day comes, be prepared in advance and be familiar with the process and what can be expected.   Here are a few tips that may help: What can trigger a tax audit? Tax returns with errors Ra...
A common question Real Estate Agents have is whether they should buy or lease their vehicle.  Let's take a look at some of the Pro's and Con's of each. Generally, leasing a car instead of buying only makes financial sense if you prefer a new car every 3 or 4 years and drive an average amount of m...
There are 2 methods you can use as a Real Estate Agent to deduct your auto expenses.  Which method is right for you?    This chart may help: IMPORTANT TAX TIPS:  For a Car you OWN:  use the standard mileage rate for the first year your vehicle was in service.  After that, you can calculate both m...
Now that you are in “business” you cannot afford to be careless in keeping track of your income and expenses.Real Estate Agents... "Open up a separate bank account & keep the personal stuff out!" Here are 4 reasons real estate agents should have a separate bank account for business: It makes book...
Many Real Estate Agents do their own bookkeeping, some will hire a bookkeeper... but what about virtual bookkeeping? How does "virtual bookkeeping" work? Why & when should an agent consider a "virtual bookkeeper"?  Here is a flowchart on the "HOW" question:  A few thoughts on "WHY" use a Virtual ...
Agents will typically spend a good part of the day in their vehicle conducting business in the local market... this article will discuss...  ... what is considered a deductible local business trip?  Costs of local travel are deductible if: They are ordinary and necessary for your business The cos...
As a Real Estate Agent there are many types and kinds of operating expenses.  Rather than just list them all, it is best to understand the criteria of an operating expense. Here is a chart that can that you can use as a guide: A few tips to note:Is It Ordinary?  Is the expense common for your bus...

Steve Penner

REALTOR / Owner of Moneyledgers
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