Agents' 3 common misconceptions on tax deductions

Real Estate Tax Talk

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

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.