Tax day is coming and I am not ready.

By
Real Estate Agent with Soleil Real Estate

This is the first year that I will be filing my taxed as a real estate agent.  I have had business before but I am looking for some online resources for tax write offs for real estate agents.  I have always prepared my own taxes so I am pretty savy on most of the deductions, I just want to make sure that I have all of the bases covered.

 

I am sure that I will be filing an extension, as usual. 

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Rainmaker
409,252
Karen Monsour
Coldwell Banker Fort Lauderdale Beach - Fort Lauderdale, FL
REALTOR, SSRS - Sells FL Waterfront, Short Sale Expert!
Me either, my daughter sent me an extension and I was sure I was going to do it today...didn't happen...will have to lock my self in the house this weekend, I'm thinking Sunday... I wrote a blog about this as well and got a lot of pointers...about 2 weeks ago.
Apr 03, 2008 03:15 PM #1
Rainer
86,640
Ron Parise
LocateHomes.com - Cape Coral, FL

my motto is "when in doubt.... deduct!"

try this for some better advice

http://www.realtax.com/professionals/deductions.html

Apr 03, 2008 03:23 PM #2
Rainer
6,398
Andrew Magliochetti CCIM
Helios Realty and Development - Chicago, IL

Seriously, extend and hire an accountant.  It might be relatively easy for you to do your taxes this year, but next year and the years to follow it will be (with any luck) more complicated.

Your accountant will not only help you this year, but will give you advice on how to plan your expenses and maximize your deductions moving forward.

As for tax advice from realtors (me included), you know what they say about opinions and realtors...everybody's got one.

Good luck and congrats on your first year!

Apr 03, 2008 03:33 PM #3
Ambassador
629,485
Roland Woodworth
eXp Realty - Clarksville, TN
eXp Realty
Ouch.... please don't remind me of the dreadful tax dead line.... :)  I don't think anyone truly likes this day... It is like Christmas for the good ol IRS
Apr 03, 2008 05:48 PM #4
Rainer
56,180
-- Casey Brischle
Columbia Bank - Spokane, WA
Spokane Home Loan Mortgage Professional

Mel,

 

There are some good accountants in town here that do a great job.  It would cost you around $150-$200.  Money well spent if you ask me for peace of mind.

Apr 04, 2008 02:54 AM #5
Rainer
6,784
Amanda Harper
Essential Properties, Inc. - Goodyear, AZ
This is my first year of real estate and tax deductions as well. I will check out that website for more info, but I appreciate any advice as to what is deductible vs. not. Thanks again for the posts
Apr 04, 2008 05:45 AM #6
Rainer
52,868
Patrice Estess
PB APPRAISALS - Kerhonkson, NY
Oh, I'll be saving this post...I want to be sure I get everything I can...great post idea...thanx
Apr 04, 2008 06:00 AM #7
Rainmaker
409,252
Karen Monsour
Coldwell Banker Fort Lauderdale Beach - Fort Lauderdale, FL
REALTOR, SSRS - Sells FL Waterfront, Short Sale Expert!

Forgive me, but I'm going to provide this link to my post a few weeks ago as there are 30 comment's and a lot of good information and contacts ...Only 3 more week's until April 15th...yikes!.  I wouldn't do this, normally, however there are only 10 day's left and perhaps you can get some good info as I did from these posts. 

Mel, If you don't want this info, you can delete it...however, time is running out and I would like everyone looking to survive...

Karen

Apr 04, 2008 01:56 PM #8
Rainmaker
82,231
Meg Zoller
Keller Williams - Houston, TX
Houston Fine Homes
Mel - Oh my goodness . . . I can't believe it's that time of year again.  Good luck getting the extension sent.  It always seems like I wait until the last day!
Apr 04, 2008 03:14 PM #9
Rainer
3,735
Tim Walsh
Strano and Assc. - Belleville, IL
A good tax advisor can save you lots of money -- something to consider!
Apr 06, 2008 02:46 PM #10
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Mel Miller

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