Tax-Deductible Expenses for Real Estate Agents
Tax-deductible expenses for real estate agents is such an important area for their sales business. Knowing how and what to deduct can help reduce taxable income and ultimately lower the amount of income tax owed to the government. Everyone wants that, right?! Real...
Accounting Fun Facts? Yes!
You probably didn’t know that many celebrities got their start in accounting, and that many accountants made the history books. As you’ll see from these fun facts, accounting can inspire you, turn you into an author, make chart-topping hits, and help to put mobsters...
How does having a profit and loss statement help me achieve my personal and professional goals?
A profit and loss statement empowers you to make informed decisions, allocate resources efficiently, and track your journey toward personal and professional goals.
The Benefits of Paying Estimated Taxes
While there are no criminal penalties for not paying your real estate business’ taxes every quarter, there are distinct advantages for doing so. You can save considerable money—and avoid unnecessary stress—by making an estimated payment every quarter instead of trying to pay them all at once after the year ends.
2021 Tax Deductions Every Real Estate Agent Should Know
COVID-19 has taken a financial toll, and the recovery process is in full swing. To give Americans a little push in the right direction, the U.S. government and the IRS are adjusting several deductions, most of which will help you keep a little extra money in your pocket.
Why You Should Create a Budget for Business and How it Affects Your Family
The profit you gain from your business can only be of use to you and your family if you manage expenses correctly. Having a set budget broken is the best way to achieve that goal.
Importance of Having a Profit and Loss Statement for Your Business
A glance in your financial rearview mirror often looks good for you as a real estate agent: You met your gross commission income (CGI) goal, you closed several good deals, and, most importantly, your business is still alive and well. But is it thriving or merely...
Build Your Real Estate Business Using the Lead Domino Effect
Building a Business? What is your Lead Domino? Building your real estate business as a rainmaker takes a lot of planning and, consequently, comes with a never-ending list of “to-do’s”. Most importantly, it takes TIME, which should be protected and spent deliberately....
Why You Need a Business Plan
In the highly competitive field of real estate, your survival depends on your ability to stand out, and a successful business plan will get you there. It’s a harsh reality that many people with big real estate dreams fail within the VERY FIRST YEAR. In fact, some...
Is your Assistant an Employee or an Independent Contractor?
Differences Between Independent Contractors and Employees Deciding whether to hire an independent contractor or a regular employee is a big decision and not one to be taken lightly. There could be financial consequences if you hire someone as an independent contractor...