In the real estate industry, time is literally money, and we love to partner with useful applications that save us time. Breakthrough Broker users are telling us that Realtyzam is one of those applications. In an increasingly complex tax environment, real estate professionals need the ability to track their expenses each month. This process can be complex and agents may be tempted to put these important responsibilities on the back burner. If you are anything like me, that makes April a very stressful month!
Next Door published an article about tips for filing taxes for Realtors, and the #1 tip is to collect all appropriate documentation before taxes are due. It’s not easy to keep track of your expenses throughout the year, and they are often forgotten, costing us potentially thousands of dollars of tax deductions. Almost every year, I speak with real estate professionals in March and April who are scrambling to look back to find the most deductions they can. Realtyzam can help you eliminate this stress by categorizing your purchases throughout the year and making it easy to identify all tax-deductible expenses with a click of a button.
Real estate agents are self-employed, which means you have plenty of opportunities for tax deductions. Although this can save you tons of money, it requires focused work to track all of those expenses. Try to imagine tracking all of the purchases you make toward marketing, coaching, licensing fees, transportation, airfare, home offices, and gifts under $25. On top of that, if you own any depreciating assets like a car, you will have to keep records from the last few years to receive any deductions. Sounds like a headache, huh?
That’s why we have partnered with Realtyzam, a real estate-focused tax application that makes it easy to track expenses and get the most out of your tax return. Realtyzam is unlike other tax programs because it’s specially made for real estate agents so they can stay on top of their monthly accounting, and as Shelly says, “It’s so freaking easy!”
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