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Is Premium a tax deductible expense?

 

http://support.resaas.com/hc/en-us/articles/204882180-Is-Premium-a-tax-deductible-expense-

 

It is our understanding that agents and brokers can claim their RESAAS subscription as a tax deductible expense as it is a software relating to the sales and marketing of their business.

(All comments are based on the United States and Canada)

Q: What can you deduct as a real estate professional?

  • Mileage
  • Meals
  • Entertainment
  • Home office
  • Business gifts
  • Travel related expenses
  • Tools
  • Cell phone
  • Auto expenses
  • Office supplies
  • Office equipment
  • Website fees / domain expenses

Why does RESAAS qualify as a tax deductible expense?

RESAAS would be a deductible expense because it is a tool being utilized to facilitate your business.

In which countries does this apply as a tax deductible expense?

US & Canada – May be deductible in other countries – please speak with your tax professional.

Tax Tips for REALTORS®

  1. Deduct all business related travel – Get the Equivalent of Free Gas for Your Car (See A. below)
  2. Deduct meals – Meals that make you money (See B. below)
  3. Deduct entertainment – Double your fun with entertainment deductions (See C. below)
  4. Deduct your home office – A Tax Deduction Goldmine (see D. below)
  5. Deduct your business gifts – Give gifts at discount prices (see E. below)

Helpful resources from TAXBot:

* As a RESAAS Member you have access to the RESAAS Marketplace at 50% off!

 

To access the RESAAS Marketplace, log in to your RESAAS account and click on the Three Lind box in the top right corner and Marketplace in the drop down menu.

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