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Don’t Miss a Deduction!

February 22, 2013

What can you deduct?

There are a lot of possible tax deductions for real estate professionals. All expenses for your real estate business is deductible if it is:

An expense doesn’t have to be indispensable to be necessary; it need only help your business in some way, even if it’s a small way. A one-time expense can be ordinary and necessary.

You cannot deduct personal expenses. Example, the cost of a personal computer is a deductible operating expense only if you use the computer for business purposes; it is not deductible if you use it to pay personal bills or play games.

Checklist of deductions

  • advertising expenses, including websites, mailing lists, newspaper advertising, fliers, online advertising, postcards, promotional materials, logo clothing, and anything else you pay for to market your real estate business;
  • bookkeeping, accounting and legal fees;
  • business gifts (up to $25);
  • business meals and entertainment (only 50 percent deductible);
  • cab fares for business travel;
  • car and truck expenses, including business mileage, depreciation, insurance, interest on car loans, lease payments, license plate fees, parking expenses, and tolls;
  • cell phones;
  • computer software;
  • computers;
  • desk fees;
  • education to maintain or improve required skills (but not courses you take to pass the real estate licensing exam);
  • home office expenses (if you qualify);
  • insurance, including health insurance, errors and omissions insurance, business liability insurance, and business equipment insurance;
  • interest, such as interest for business loans, interest paid on business credit cards;
  • Internet access fees;
  • map books;
  • office equipment (cost may be deducted in one year using bonus depreciation or IRC Section 179);
  • office expenses, including rent, cleaning and maintenance, and utilities;
  • office supplies;
  • postage;
  • professional dues and fees — for example, multiple listing service dues and dues paid to the local Chamber of Commerce, Realtor associations, and real estate license renewal fees;
  • referral fees and commission rebates;
  • retirement plan contributions;
  • subscriptions to professional journals;
  • real estate franchise fees;
  • taxes, including payroll taxes for employees, state and local business taxes;
  • telephone service fees;
  • travel to business conventions, including transportation, lodging and food;
  • wages and benefits paid to employees.

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With Platinum Mortgage you’ll enjoy competitive pay, benefits and rewards. With 23 years of experience, a solid reputation and a loyal customer base, we provide you with endless opportunity to develop your career. Our open and collaborative environment lets you grow both personally and professionally.

To be reviewed for hire by our team: Visit our website at and submit your resume and application to us!

Call or email a Platinum Representative for further inquiries.

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Phone: 800-385-3657  |  Fax: 866-598-9987 

Corporate Office: 915 Highland Pointe Dr. Ste. 250, Roseville, CA 95678

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