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.
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