Tax Deductions for Realtors: Continuing Education, Credit Card Fees, and More скачать в хорошем качестве

Tax Deductions for Realtors: Continuing Education, Credit Card Fees, and More

Learn how to maximize your tax deductions as a realtor with our comprehensive guide on Schedule-C expenses. This video covers continuing education, credit card fees, and dues and subscriptions. Discover what expenses are deductible and how to claim them effectively. Don't miss out on valuable tax savings! What’s Covered Continuing education expenses and what qualifies as a deductible course Books, seminars, and self-improvement programs related to job performance Why real estate license exam prep is not deductible — but may qualify for the Lifetime Learning Credit How to compare the benefit of a deduction vs. a tax credit Requirements for the Lifetime Learning Credit (e.g. accredited institutions) Deducting credit card fees: late fees, over-limit fees, annual fees, and replacement card charges When credit card interest is deductible—and when it’s not Dues and subscriptions: chamber memberships, trade associations, networking groups Which memberships are not deductible (e.g., country clubs, gyms, hobby-based clubs) Examples of deductible subscriptions (e.g., real estate journals, staging and décor magazines) Key Takeaways Continuing education must be for maintaining or improving skills — not entering a new profession Credit card fees and charges can be easily overlooked but are often deductible Only business-related dues and subscriptions are deductible; recreational memberships are not Carefully document your deductions and always ask “why?” to determine where they belong on your tax return 0:00 Introduction - Other Expenses Part 2 1:09 Continuing Education - Classes, Books & Seminars 4:27 Lifetime Learning Credit - Alternative to Deductions 6:35 Credit Card Fees - What You Can Deduct 8:35 Dues & Subscriptions Overview 8:38 Professional Membership Fees - Boards & Chambers 9:57 Non-Deductible Dues - Golf Clubs & Gyms 11:10 Deductible Subscriptions - Trade Journals & Magazines 12:12 Wrap Up & Next Steps This lesson empowers real estate professionals to find overlooked deductions, avoid IRS red flags, and categorize their “other expenses” accurately and confidently. 👇 Have tax questions? Drop them in the comments and explore more Realtor tax strategies on our channel. 📺 Watch the full playlist for more tax & payroll strategies 📘 Learn deeper tax & business strategies:👉 OvernightAccountant.com 🔔 Subscribe for weekly tax, payroll, and business insights.