Spend A Lot of Time in Your Car?
For every 1,000 miles driven, $500 in tax deductions can be produced, but the IRS needs documentation of all business and personal trips. The QuickBooks Self-Employed automatic mileage tracker can help.Audit Advice – True or False: You’re more likely to be audited it you don’t report adjusted gross income.
True. You’re 5x more likely to be audited if you don’t report AGI (5.26% compared to .85%, according to the IRS). It’s easy to avoid applying appropriate deductibles when you track your business receipts.Real Estate and Retirement
A retirement plan that works well for real estate agents is the Solo 401(k), which allows you to save up to $54,000 ($60,000 for agents over 50) per year and deduct it from your taxes.Know Your Deductibles
Top agent deductibles include: marketing materials; mileage; desk & association fees; home office fees (if you don’t have a desk fee); software & business tools; office supplies; meals & entertainment; and travelMarketing and Advertising Deduction Tip
Did you know that production costs such as writing and design fees, whether the materials are produced by an agency or part-time hire, are also deductible?
Strategies to Boost Your Content’s Visibility
What’s the point of having a social media game plan if your content isn’t getting in front of the right people? Here are a few ways to improve your brand’s visibility and reach on social media.
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