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Are You Preparing for Tax Time?

By
Real Estate Agent with Brown Realty, 210-789-4216, TREC #0492321

Are You Preparing for Tax Time?

By now many of us self-employed professionals have received all of our 1099’s, and other tax statements to prepare for the 2011 Income Tax Filing. But, the biggest task for me every year is to get organized with all my receipts, and supporting documents to prepare my itemized deductions. It doesn’t matter if you are using H & R Block, a CPA, Turbo Tax, or a personal tax counselor, you will need to take the time to get ready to file your income tax return by the deadline, or you will be requesting that extension.

For those that need a check list and a few tax tips for your deductions, take a look at this Tax Preparation Check List, and these 2011 REALTOR® Tax Tips below.

Tax Preparation Checklist   (Information and charts prepared by Independence Title)2011 Realtor Tax Tips

Comments(34)

Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Looks like a pretty comprehensive list. Good reminder and perfect timing to get it together.

Margaret

Feb 22, 2012 11:53 AM
Doug Bullwinkel
E Mortgage Capital, Inc. NMLS 1416824 - Roseville, CA
Mortgage Loan Officer NMLS #281609

I could have gone all day without thinking about doing taxes.  But, since the only thing we can be sure of is death and taxes, this checklist can save us all a lot of time and energy when we finally get around to doing them.   Thanks for the help in getting ready.

Feb 22, 2012 01:13 PM
Linda Holloway
Keller Williams Realty Tampa Central - Tampa, FL
REALTOR®, Your Next Home in Tampa Bay Starts Here!

Hi Jerry, This is a great idea for a post!  I'm not sure I needed a reminder... more the motivation... lol.. to work on my taxes!

Feb 22, 2012 11:54 PM
Shirley Parks
Sands Realty 210-414-0966 - San Antonio, TX
Broker, 210-414-0966, San Antonio TX Real Estate

Hi Jerry, Yesterday my huband took our tax stuff to our CPA who btw, is also a real estate broker. Ha!

Feb 23, 2012 12:46 PM
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Good morning Jerry,

Great, useful post...every year tax time seems to sneak up on so many - this will help get them ready early (or, maybe not).  LOL 

Have a wonderful weekend!

Feb 23, 2012 09:00 PM
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Tom, I am glad you found those QR codes useful.

Feb 26, 2012 10:13 AM
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Good for you Anita. I believe I will be on time myself this year. Have a Great Week!

Feb 26, 2012 10:14 AM
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Bliz, I am like you. I don't like doing them either. I know I had needed another extension last year, but I am ready this time around.

Feb 26, 2012 10:15 AM
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Brenda, I have been comfortable with using Turbo Tax for years now. I will most likely continue to use that product.

Feb 26, 2012 10:16 AM
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Frank. I know you enjoyed Mardi Gras and I enjoy watching golf season too. Should be lots of action to watch in 2012. Tax Time is something we all can look forward too again.

Feb 26, 2012 10:20 AM
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Ron, I think it's a great idea to keep up with our taxes quarterly. I trust all these tips were helpful for you.

Feb 26, 2012 10:21 AM
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Good for you Kathleen. I had to file for extension last year too, but I am preparing to be on time this year. Starting early does make it easier.

Feb 26, 2012 10:23 AM
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Jennifer. I am sure your accountant is up on all these rules and tips to help you prepare your taxes, and save you money too.

Feb 26, 2012 10:24 AM
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Christine. You have a nice advantage with your husband as your CPA. I am sure he does a great job with your taxes every year.

Feb 26, 2012 10:26 AM
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Jennifer, That's the hardest part is getting all your documents and receipt over to your CPA early. It's nice to be ahead of the game.

Feb 26, 2012 10:27 AM
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Margaret. There's nothing like be prepared and ready to go with your taxes every year. Have a Great Week!

Feb 26, 2012 10:29 AM
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Doug, I have found that these check lists are very helpful. I don't think anyone really enjoy doing their taxes.

Feb 26, 2012 10:30 AM
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Yes. Linda. I think you said it right. We all need that motivation since most of us dread getting ready to do them.

Feb 26, 2012 10:31 AM
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Shirley, Being a Real Estate Broker and CPA is a great combination. You have your interests in good hands.

 

Feb 26, 2012 10:33 AM
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Lisa. This list will help anyone get ready. Hopefully, many will not have to file for that extension, and save themselves from paying any penalties.

Feb 26, 2012 10:35 AM