Dimond Tax Services - An Oakland Calfornia based Tax Return Preparation Firm
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AUTO TRAVEL: PROFESSIONAL FEES & DUES:
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AUTO TRAVEL: PROFESSIONAL FEES & DUES:
Your auto expense is based on the number of qualified
business miles you drive. Expenses for travel between
business locations or daily transportation expenses between
your residence and temporary work locations are deductible;
include them as business miles. Expenses for your trips
between home and work each day, or between home and one
or more regular places of work, are COMMUTING expenses
and are NOT deductible.

Document business miles in a record book as follows:

(1) give the date and business purpose of each trip; (2) note
the place to which you traveled; (3) record the number of
business miles; and (4) record your car’s odometer reading at
both the beginning and end of the tax year. Keep receipts for
all car operating expenses – gas, oil, repairs, insurance, etc. –
and of any reimbursement you received for your expenses.
OUT-OF-TOWN TRAVEL:

Expenses accrued when traveling away from “home”
overnight on job-related and continuing education trips are
deductible. Your “home” is generally considered to be the
entire city or general area where your principal place of
employment is located. Out-of-town expenses include
transportation, meals, lodging, tips and miscellaneous items
like laundry, valet, etc.

Document away-from-home expenses by noting the date,
destination and business purpose of your trip. Record
business miles if you drove to the out-of-town location.
In addition, keep a detailed record of your expenses – lodging,
public transportation, meals, etc. Always list meals and
lodging separately in your records. Receipts must be retained
for each lodging expense. However, if any other business
expense is less than $75, a receipt is not necessary if you
record all of the information in a timely diary. You must keep
track of the full amount of meal and entertainment expenses
even though only a portion of the amount may be deductible.

Dues paid to professional societies related to your profession
are deductible. However, the costs of initial admission fees
paid for membership in certain organizations or social clubs
are considered capital expenses.

COMMUNICATION EXPENSES:

The basic local telephone service costs of the first telephone
line provided in your residence are not deductible. However,
toll calls from that line are deductible if the calls are
business-related. The costs (basic fee and toll calls) of a
second line in your home are also deductible if the line is used
exclusively for business.

CONTINUING EDUCATION:

Educational expenses are deductible under either of two
conditions: (1) your employer requires the education in order
for you to keep your job or rate of pay; or (2) the education
maintains or improves skills in your profession. Costs of
courses that are taken to meet the minimum requirements of
a job, or that qualify you for a new trade or business, are
NOT deductible.

EQUIPMENT PURCHASES:

Record separately from other supplies the costs of business
assets that are expected to last longer than one year and
cost more than $100. Normally, the costs of such assets are
recovered differently on your tax return than are other
recurring, everyday business expenses like business cards,
office supplies, etc.

SUPPLIES & EXPENSES

Generally, to be deductible, items must be ordinary and
necessary to your real estate profession and not reimbursable
by your employer.

The information provided in this brochure is an abbreviated summary of the rules for the job-related expenses applicable to realtors.
For additional details as to specific business expenses, the records required and the various governmental regulations,
consult the firm providing this brochure.


OB25 © ClientWhys, Inc.

Tax Deductions for:
Realtors
OccupationalSeries
Advertising, Signs, Flags & Banners
Appraisal Fees
Attorney Fees
Bank Charges
Briefcase
Business Meals (enter 100% of expense)
Business Cards
Clerical Service
Computer Software & Supplies
Courier Service
Entertainment (enter 100% of expense)
Equipment Repair
FAX Supplies
Film & Processing
Finder’s Fees
Gifts & Flowers
Greeting Cards
Insurance - Errors & Omission and Liability
Legal & Professional Services
Lockboxes, Keys & Locksmith
Map Book
Multiple Listing Service
Office Expenses
Open House Expenses
Photocopy Expenses
Postage
Referral Fees
Rent
Repairs to Sell Listed Property
Shipping
Stationery
Other:
introductionIn order to deduct expenses in your trade or business, you must
show that the expenses are “ordinary and necessary.” An ordinary
expense is one that is customary in your particular line of
work. A necessary expense is one that is appropriate but not
necessarily essential in your business. The application of these
terms to you relies heavily on the “facts and circumstances” of
your unique situation.Realtors
Tax
Deductions for:
PROFESSIONAL Fees & Dues: COMMUNICATION Expenses: SUPPLIES & Expenses:

Association Dues
Chamber of Commerce
License
Realty Board
Other:
Other:
OUT-OF-TOWN Travel:

Cellular Service
Fax Transmissions
Paging Service
Pay Phone
Toll Calls
Internet Access
Other:
Airfare
Bus & Subway
Bridge & Highway Tolls
Car Rental
Laundry
Lodging (do not combine with meals)
Meals (do not combine with lodging)
Parking
Porter, Bell Captain
Taxi
Telephone Calls (including home)
Train
Other:
CONTINUING Education:

Correspondence Course Fees
Materials, Supplies & Textbooks
Seminar Fees
Other:
Other:
Other:
EQUIPMENT Purchases:

AUTO Travel:

Answering Machine
Calculator
Camera
Computer Equipment
Copy Machine
Fax Machine
Pager
Recorder
Telephone
Other:
Other:
Other:
Other:
Client Meetings (mi)
Continuing Education (mi)
Escrow & Loan Office Trips (mi)
Out-of-Town Business Trips (mi)
Showing Property (mi)
Parking Fees ($)
Tolls ($)
Other:
Other:



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