Real estate agents can possibly achieve tax savings by electing to be taxed as a Subchapter S Corporation under the Internal Revenue code. A Subchapter S Corporation generally does not pay income tax. The earnings flow through to your personal […]
A real estate broker I worked with years ago had a simple way of keeping up with his estimated tax payments. Every year he would look at his tax return and divide his total taxes (income and self-employment tax this […]
Once you get tired of paying estimated tax penalties in April or even the following October, you may decide to start paying quarterly, estimated tax payments. The problem is that self-employed people do not have steady income, which is easily […]
The IRS has released proposed regulations for the new Qualified Business Income Deduction that was part the tax law change passed in 2017. Realtors have been exempted from the Specified Service Trade or business limitations on the business income deduction. This […]
Money spent now on an addition or bathroom remodel is sure to be recouped when you sell your home, right? Unfortunately, no. The truth is that very few homeowners completely recover the costs of their remodeling projects. For 2016, the […]