Industry News

Agents’ 3 common misconceptions on tax deductions

Real Estate Tax Talk
Published on Oct 14, 2011

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by CareyBot

Taxes are complicated. As a result, lots of people are not fully informed when it comes to tax deductions. Here are three common misconceptions that can cost real estate professionals dearly:

1. You must pay cash to get a deduction

When you buy stuff for your business, such as a computer or automobile, the cost is deductible through depreciation or expensing.