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16 Deductions for Real Estate Agents

| Mar 23, 2017
The following is a list of possible tax deductions for real estate agents. Not every deduction may be applicable to each individual agent, so talk to your tax preparer about the following possibilities. For more information, click the links and read the rules directly from the IRS.
 
1. Commissions paid
 
Commissions paid by your business to other agents or employees that work with or under you are generally fully deductible business expenses. Here's more information.
 
2. Standard auto deduction
 
The current rate is 54 cents per mile. Here's more information at the IRS site.
 
3. Legal and professional services
 
Real estate agents can deduct legal and professional fees to the extent they are an ordinary part of and necessary to operations.Read more here.
 
4. Advertising expenses
 
 
5. Home office deduction
 
 
6. Charitable donations
 
Itemize your charitable activity and donations.
 
7. Self-employment tax
 
 
8. Business entertainment
 
 
9. Conventions, trade shows and seminar
 
 
10. Education and training
 
 
11. Office rent
 
 
12. Member dues
 
Talk to your tax preparer and read more here.
 
13. Office expense
 
 
14. Tax preparation fees
 
 
15. State and local income tax
 
 
16. Self-employed health insurance deduction
 
 
List compiled by expense tracking app Hurdlr. Additional links added to IRS website for more information. The information is for informational purposes only and is not meant as tax advice. Consult a tax expert for individualized advice.

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