ARCHIVED BLOG POSTS
2017
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. ...
12/29/2017
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 ...
12/15/2017
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...
12/12/2017
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...
12/11/2017
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...
12/08/2017
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...
12/06/2017
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...
12/05/2017
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 ...
12/04/2017
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...
12/01/2017
Rainer
131,157
131,157
Steve Penner
REALTOR® / Pro Ledger Online (owner)