Tax time is already upon us, and next season will be here before we know it. A real estate agent’s tax return is complicated enough, so don’t let poor record-keeping or murky expenses make the end of winter harder than it already is. Avoid these seven wrong turns when filing your taxes to steer clear of IRS accidents – and, more importantly, audits.
Real estate agents spend their own funds and resources everyday to help people find homes. But are your expenses business, personal or something in the grey zone? The answers aren’t always black and white, leading to lost deductions and overpaying the IRS.