Checklist: Tax Deductions for Real Estate Agents
Checklist: Tax Deductions for Real Estate Agents
Deductions
Description
Vehicle Mileage
Deduct miles driven for business.
Buy or Lease A New Car Home Office Deduction Real Estate Software/Apps Cellphones and Tablets
Deduct lease payments or depreciation on vehicle purchase.
Deduct a percentage of rent, utitilies based on space used for business. Deduct CRM, open house software, CMA software used for business.
Deduct the cost of mobile devices used for business.
Office Supplies
Deduct paper, pens, ink and other supplies used for business.
Virtual Assistants/Bookkeepers
The amount paid to virtual assistants and bookkeepers is deductible.
Office Rent
The amount paid to rent office space, including CAM charges.
Office Equipment & Supplies Purchase of office desk, printers and computers for business.
Internet & Phone Costs
Monthly internet and phone system costs for the office are deductible.
Marketing/Advertising Costs Flyers, website, signage, business cards are tax deductible.'
Travel & Entertainment Conventions and Conferences
Airfare, hotel lodging, rental car fees for business trips are deductible.
Registration fees to attend a convention or conferences are deductible.
Taxi or Uber Fare
Fees paid for transportation to/from the airport are deductible.
Client Meals/Entertainment Deduct up to 50% of meals/entertainment with clients.
Client Gifts ($25 or less)
Deduct up to $25 per client on thank you gifts purchased.
Retirement Plan Contributions Contributions to retirement plans are tax deductible.
Desk Fees
Desk fees are tax deductible.
Continuing Education(CE)
Fees paid to attend workshops and seminars for continuing education
Annual
Dues/Membership Fees
Fees paid to professional license fees.
associations
as
well as your
realtor
Insurance
Payments to purchase insurance to protect your business are deductible.
Legal/Professional Services Fees paid to lawyers and CPAs are tax deductible
Interest on Loans/Credit Cards
Interest paid on a business loan, line of credit or credit card are deductible.
Franchise Fees
Franchise fees paid to an agency are tax deductible.
Wages/Benefits Paid To Employees
Payroll payments made to employees are tax deductible.
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