2021 Tax Deductions Every Real Estate Agent Should Know
COVID-19 has taken a financial toll, and the recovery process is in full swing. To give Americans a little push in the right direction, the U.S. government and the IRS are adjusting several deductions, most of which will help you keep a little extra money in your pocket.
Why You Should Create a Budget for Business and How it Affects Your Family
The profit you gain from your business can only be of use to you and your family if you manage expenses correctly. Having a set budget broken is the best way to achieve that goal.
Importance of Having a Profit and Loss Statement for Your Business
A glance in your financial rearview mirror often looks good for you as a real estate agent: You met your gross commission income (CGI) goal, you closed several good deals, and, most importantly, your business is still alive and well. But is it thriving or merely...
Build Your Real Estate Business Using the Lead Domino Effect
Building a Business? What is your Lead Domino? Building your real estate business as a rainmaker takes a lot of planning and, consequently, comes with a never-ending list of “to-do’s”. Most importantly, it takes TIME, which should be protected and spent deliberately....
Why You Need a Business Plan
In the highly competitive field of real estate, your survival depends on your ability to stand out, and a successful business plan will get you there. It’s a harsh reality that many people with big real estate dreams fail within the VERY FIRST YEAR. In fact, some...
Is your Assistant an Employee or an Independent Contractor?
Differences Between Independent Contractors and Employees Deciding whether to hire an independent contractor or a regular employee is a big decision and not one to be taken lightly. There could be financial consequences if you hire someone as an independent contractor...
Is This Your Situation: Getting Through Monthly and Year End Closings
You know that at the close of each month, you need to complete a month-end report to keep your accounting statements updated. You also have to issue a yearend report and mail out IRS Form 1099s to vendors for their taxes. There are a lot of issues you have to address:...
Is This Your Situation: Trying to Estimate Business Taxes
When you work for someone else, your employer generally takes out an appropriate amount of taxes from your paycheck for your federal taxes. But when you're self-employed, a sole proprietor or the owner of an S-corporation, you're responsible for paying your federal...
Is This Your Situation: Facing Problems in a Family-Owned Business
If your company is going strong and is profitable (or on the way to being profitable), there are things you can do to keep things civil, and even better, joyful. As Inc. contributor Carolyn M. Brown explains, "Conflicts are a part of a normal experience for many small...
Is This Your Situation: You Don’t Have a Business Plan
A business plan helps counterbalance your emotional response to your business so that you can step back and take an objective look at what you're doing and why, what you know for a fact, and what you're still trying to figure out. A business plan helps you launch...