Give yourself this gift before December 31

By
Services for Real Estate Pros with Marte Cliff Copywriting

You can ask Santa for all sorts of things, but the gift you’ll really appreciate in a few months is one you must give yourself: An investment in your marketing.

Even though now is the time to be thinking of gifts for other people, it is also a good time to  stop and tax paymentthink about what you’ll need to make 2018 your best year yet, so you can make that investment before the tax year ends. Then give yourself a gift or three.

Why now? It will be just as deductible next year, won’t it?

Sure (well, probably) – but if all goes well in Congress, your tax rate will be lower next time around.

Even if you don’t take delivery of products now, if you pay in advance or make a deposit, those dollars will be deductible. And of course, the sooner you have those items, the sooner you can start using them to build your business.

So what do you need to get 2018 off to a roaring start?

Some of these items cost only a few dollars while others might set you back a bit, but making those purchases and/or commitments this year will save you money on tax day 2018.

Remember to deduct those client lunches and gifts…

two business women at dinnerIf you’re meeting clients, past clients, or member of your sphere of influence for lunch, coffee, or cocktails, be sure to save those receipts and deduct them as a business expense! The same holds true for client gifts – just remember that there’s a limit per client on the price of those gifts.

If you’re hosting a client appreciation party, remember to document all of those expenses, too.

Once upon a time I knew a retired military man who didn't bother with his deductions at all. He said he was glad to pay his taxes and didn't need to lower them.

That's a fine sentiment - but after watching the way our elected people like to toss our dollars into the wind, I'd just as soon keep them and spend them myself.

 

Tax image courtesy of FrameAngel at FreeDigitalPhotos.net

Ladies at dinner Image courtesy of nenetus at FreeDigitalPhotos.net

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Ambassador
4,261,566
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Marte- a good reminder to keep track of everything!! It's a lot easier to do if you document as you go. It's also a good time to order any printing you will need for the new year. 

Dec 11, 2017 03:32 PM #1
Ambassador
2,305,570
1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

I have been busy... stocking up on the things needed at the office!  

Dec 11, 2017 03:37 PM #2
Ambassador
1,956,718
Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Great idea Marte Cliff  you are a very smart lady

Dec 11, 2017 03:48 PM #3
Rainmaker
466,382
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Good info, Marte Cliff .  With the tax debate still ongoing, we don't know for sure what the final outcome will be, but it is always good to do end of year tax planning.  I try to take as many deductions as I can in December, such as prepaying marketing costs, in order to reduce income and, hopefully, lower the taxes I owe.

Dec 11, 2017 04:28 PM #4
Rainmaker
776,438
Andrea Bedard
Thompson Company, REALTORS® - Silver Spring, MD
M.A.; REALTOR® Silver Spring, MD and beyond

I am so not counting on a tax cut.. if my filing status is truly being eliminated, I'll be paying much more. But, your advice is sound and it did remind me to file a few receipts away before I forget all about them!

Dec 11, 2017 06:59 PM #5
Rainer
16,780
Tyra Hatcher Mitchell
Alliance Realty - Portland, ME
Southern Maine Realtor

Great advice and/ or reminder to track ous expenses as we invest in ourselves and our business

Dec 11, 2017 07:55 PM #6
Rainmaker
2,868,746
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

A little tax break really does make everything better and almost all areas of life look a little shiny!

Dec 11, 2017 08:36 PM #7
Rainmaker
4,386,212
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Marte, I was thinking I needed more deductions for this year, and just bought a new camera.   

Dec 12, 2017 06:35 AM #8
Rainmaker
2,004,737
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Buy if you are going to use it though. Just throwing money at a device or program won't do much good but the gift of the well written word is a perfect present for under the real estate office tree. Tax deduction reasons to do some spending too. Polishing up the marketing is always worthwhile because we all have slack somewhere. It helps us reinvent what we do to keep it new and exciting Marte Cliff ! Thanks for the list suggestions! Office LED signs are costly but have come way down on price. Everyone reading your post can think of other items to add that would benefit their effectiveness.

Dec 22, 2017 04:00 AM #9
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