What’s the #1 Thing a Realtor Can Do To Cut Taxes?

What’s the number one thing a Realtor can do cut taxes?

There are any number of different things Real Estate Agents and Brokers can do to cut taxes,  including…

  • tax strategies to implement
  • deductions to take
  • tax credits to claim, and
  • legal loopholes to take advantage of

Heck, in one YouTube video alone, I shared over 100 tax deductions for Realtors, in alphabetical order, A-to-Z.

Deductions and Tax Credits Alone Won’t Profit You

The truth is, on April 15th, it doesn’t matter how many different tax deductions you know about.

It doesn’t matter how good your CPA is with your pile of expense receipts in March or April

Because most tax preparers take your last year‘s numbers, put them on last year‘s tax forms, and then tell you what you owe.

They give you your bottom line, but give you no plan to lower your tax the coming year

We consider this to be a reactive process. A recording of history, if you will.

We prefer a proactive process we call “tax coaching”.

In Real Estate Sales, it’s Not What you Earn. It’s What you Keep.

You look to your broker or to a real estate coach to help you make more money.

You should look to a tax coach to help you keep it.

So what exactly is “tax coaching”, and how can you benefit from the tax coach process?

Tax coaching–or tax planning–is something to do in November or December, not after the ball drops in Times Square.

For example, if you didn’t know you could write-off your child’s braces as a business expense, and take the steps necessary to implement this strategy before December 31st, there’s nothing your CPA can do to help you in April.

So what’s the process? What does tax planning look like?

  1. We start out by providing a free review of your prior year return. We look for any missed opportunities or mistakes.
  2. We find out how much you’re spending each year in taxes that you don’t have to be paying.
  3. We then create tax savings for you by implementing a proactive plan.  We tell you what to do, when to do it, and how to do it, using IRS approved and court-tested tax reduction strategies.

The number one tax mistake agents make

The biggest mistake agents make–that costs them thousands–if failing to plan.

Because failing to plan is planning to fail.

Conversely, the #1 thing Realtors can do to cut taxes is take a proactive approach.

Unfortunately, most agents are reactive. They treat record-keeping and taxes as a once a year event–and they wait to schedule it until it’s time to prepare their return.

That’s too late. That’s called tax preparation. Recording history.

And the difference between tax preparation (recording history) and tax planning (writing your future history) is December 31st.

To learn more about the process, and how it can benefit you, simply click HERE.

Clicking the link gives you access to a free 15 minute phone conversation to find out more. It’s a non-decision making, fact-finding phone call.

Because we’re here to help you avoid overpaying the IRS.


Success to you,

Jim Flauaus, EA