As the realization that taxes are due in 10 weeks sets in, most real estate agents are desperately trying to find every deduction and loophole to help minimize their tax obligation.
- Look at write-offs like business equipment, state and local taxes and commissions paid, which can quickly take big chunks out of your potential tax bill.
- Open a dedicated tax savings account to put 30 percent of your gross earnings away throughout the year and avoid tax season stress.
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