Deductions for Real Estate Agents

Accounting & Tax Prep

Advertising

• Newspapers
• General Magazine
• Proprietary Magazines
• Radio
• TV
• Billboard
• Internet
• Internet Design Work
• Home page, access, email fees- Giveaway Items
• Business Cards
• Signs
• Flyers
• Direct Mail
• Telemarketing
• 1-800 Number
• Web Site Maintenance Fee
• Advertising - Other

Automobile Mileage

• Need to keep a log of all miles
• IRS has accepted a 3 month average in certain cases
• Make sure to get service done on your automobile at the beginning of every year so you have a starting and ending mileage
• _____ Total Business Miles (Standard rate 2017 = $0.53.5 per mile)
• _____ Total Miles

Actual Automobile Expenses includes:

• Fuel
• Repairs – Oil Changes, tires, other repairs
• Insurance
• Vehicle registration, license
• Vehicle lease or rental fees

Bank Charges

Charitable Contributions (Deductible on Personal Return)

Clothes / Uniforms

• Uniforms only !

Computer Expenses

Contract Labor

• Technology Support
• Coach

Copies

Credit Reports

Customer Gifts

• $25 per person ($50 per couple)

Continuing Education

• Books
• Newsletters
• Tapes / CDs
• Seminars
• Magazine Subscriptions

Dues

• MLS
• NABOR
• Board of Realtors
• Other

Equipment

• Copier
• Fax
• Computer
• Cell Phone
• Interest / Finance Charges

Home Office

• NEW Simplified Option ($5 p/sf -- $1,500 Max) Can not take if S-Corp

Insurance

• E&O
• Insurance – Health
• Property - Office
• Legal

Meals & Entertainment (50% Deduction)

SUPRA Keys

Office Supplies

• Paper
• Ink & Cartridges
• Photography
• Postage/Freight/Delivery
• Printing (Non-advertising)
• Professional Fees

Rent – Office

Repairs & Maintenance

• Office
• Janitorial & Cleaning
• Computers
• Copier

Payroll Expenses

• Staff (Gross Pay)

Telecommunications

• Phone Line
• Cell Phone
• Answering Service
• Internet Line