Tax Deductions for Foreclosure Business – Part Four

November 25th, 2008

Tax Deductions for Foreclosure Business (Continued)

Multiple listing service (MLS) fees to find distressed properties and motivated sellers
Measuring tools and devices to check out distressed properties
Newspapers, legal, foreclosure listings (purchase or subscription)
Newspapers, other, listing properties for sale and legal notices (purchase or subscription)
Notary fees for legal documents
Notary licenses, bonding and renewals for legal documents
Notepads and clipboard to evaluate distressed properties
Odor killers kill to foulest of odors in distressed properties
Phone and / or cell phone for your foreclosure business
Photographs of distressed houses and sending to the lender
Photo supplies and accessories
Pre paid legal services pertaining to foreclosures and other legal matters in your business
Prepayment penalty for early payoff of a mortgage
Publications on foreclosure lists and courthouse information
Re estate data such as REDI (cost or subscription)
Record keeping software such as Quicken or Quick Books for your foreclosure business
Recording and other fees for legal documents
Seminars on foreclosures to attract distressed sellers, motivated buyers and investors
Shirts, jackets, or other apparel with ” I buy houses ” information