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?
- Home office
- Business gifts
- Travel related expenses
- 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®
- Deduct all business related travel – Get the Equivalent of Free Gas for Your Car (See A. below)
- Deduct meals – Meals that make you money (See B. below)
- Deduct entertainment – Double your fun with entertainment deductions (See C. below)
- Deduct your home office – A Tax Deduction Goldmine (see D. below)
- Deduct your business gifts – Give gifts at discount prices (see E. below)
Helpful resources from TAXBot:
- A. http://resa.as/fug7ycp
- B. http://resa.as/wfw9mtc
- C. http://resa.as/ai95tpc
- D. http://resa.as/pehym6b
- E. http://resa.as/ope8dnw
* 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.