Tax Deductions for Foreclosure Business – Part Three

October 24th, 2008

Tax Deductions for Foreclosure Business (Continued)

Flyers to sell your foreclosure properties
Gifts (limited to $25) to finders of information on bargain properties
Greeting cards (with you company name) to homeowners and finders of information
Hardware and supplies for quick repairs to your foreclosed properties
Internet expenses and advertising for your foreclosure business
Laptop (notebook) computer to take with you for negotiations with homeowner or on travel
Dictionary of legal terms including foreclosure terminology
Legal forms (agreements, contracts, leases, etc)
Locks, keys and quicksets to change locks on your foreclosed properties
Lockbox for easy showing of your foreclosure properties for sale
Mailing costs to homeowners in preforeclosure – postage, stationery, handling
Mailing costs to banks for REOs and short sales – postage, stationery, handling
Mailing costs to attract cash investors to help finance foreclosure buys
Mailing lists of homeowners in foreclosures and distressed sellers
Mailing lists of investors as a source of cash for your bargain buys
Maps and atlases to locate distressed properties
Marketing costs to promote your foreclosure business
Mortgage amortization – book, calculator, or software