Tax Deductions for Foreclosure Business – Part One
July 1st, 2010
Below are some tax deductions ideas for your real estate business.
Tax deductions pertinent to the foreclosure and distressed property business:
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Auto expenses to check out distressed properties, visit preforeclosure homeowners and banks
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Ads in newspapers and other publications such as “I buy houses” ads
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Ads in newspapers and other publications to sell your foreclosure properties
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Appraisal fees – foreclosures and other real estate properties
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Assumption fees for taking over mortgages of preforeclosures and other properties
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Attache case for foreclosure forms and other real estate forms
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Accountant’s fees pertaining to foreclosures and other legal matters in your business.
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Attorney’s fees pertaining to foreclosures and other legal matters in your business.
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Batteries for flashlights, cameras and other business paraphernalia
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Books, tapes, publications, software on foreclosures
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Books, tapes, publications, software on related real estate topics
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Brochures about your real estate investment company, specializing in foreclosures
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Business cards and other stationery that your use as a foreclosure investor such as ” I buy houses”.
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