GRI 202 - Taxes and the Real Estate Professional

Content
18 modules
Rating
Course length
3 hours
Instructor
Niki Ackels

Description

This course discusses taxes related to a real estate licensee’s business.

The purpose of this course is to make licensees aware of parts of the tax code that affect the licensee’s business.

It is not the purpose of this course to make you professional tax preparers, but to give some guidance as to the impact of financial choices to you and your client.

The Tax Cuts and Jobs Act of 2017 (TCJA) made significant changes to the tax code. Some of these changes are set to expire in 2025. However, we never know what Congress will do in the future, so in this course we will not mention on indicate any provisions which may be expiring as a result of the TCJA.

Objectives

Upon completion of this course, participants will be able to accomplish the following:

  • Choose a proficient tax preparer
  • Calculate taxable income for an independent contractor
  • Apply methods to calculate automobile deductions
  • Classify allowable business expenses
  • Discuss the importance of a home office
  • Apply allowable deductions against commission to reduce tax liability
  • Review retirement and savings plans available to the independent businessperson.

1.
Introduction
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2.
Income and Taxation
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3.
Knowledge Check: Income and Taxation
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4.
Expenses and Tax Deductions
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5.
Activity: Standard Mileage Rate
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6.
Expenses and Tax Deductions Continued
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7.
Knowledge Check: Tax Expenses and Deductions
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8.
Travel, Transportation, and Entertainment Expenses
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9.
Activity: Expense Tracking
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10.
Other Expense Deductions
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11.
Exercise: Possible Business Expenses
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12.
Self-Employment Issues
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13.
Knowledge Check: Expenses
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14.
Retirement and Savings Plans
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15.
Other Topics
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16.
IRS Recordkeeping Guidance
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17.
Knowledge Check: Tax, Retirement, and Capital Gains
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18.
Resources and Appendices
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Added 9 days ago, by Marianne
 
Added 15 days ago, by Anderson
 
Added about 1 month ago, by Veronica
 
Added about 1 month ago, by Valecia
throughout the course in general, there are typos and i really would like a review after exams to know what i got wrong, this course is also dated, there is a statement in GRI 201 that says, "Since there is no way of knowing what Congress might do before 2025 (and its many years away)"- it seems silly to be reading and having to memorize facts about things that may not even be true anymore- the format of the exercises could be more user-friendly.
 
Added about 2 months ago, by Erle
 
Added 2 months ago, by Mark
 
Added 3 months ago, by Gregory
Very informative...
 
Added 3 months ago, by Elizabeth
 
Added 4 months ago, by Charles
 
Added 6 months ago, by Anonymous
I do not like that I cannot review my incorrect answers. How can I learn, if I do not know what I marked incorrectly? Also, there are errors on the coursework and the test. The test had a question and answers where the material had a different answer. This is highly ridiculous. There are also numerous spelling and grammatical errors.

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