I obtained my realtors license in 2008. I'm wondering what I am allowed to deduct as business expenses in 2008.
I was told I could deduct the following type of expenses and I'm wondering if you can validate for me. I did NOT generate ANY income (sales) in 2008 (for somewhat obvious reasons) -
- Mileage (miles used by personal vehicle for Realtor activities) - since I saw you can not deduct the actual costs of the classes to obtain the license, are we able to deduct the mileage for any Broker required training AFTER obtaining the license?
- Computer Equipment bought (computer, printer, etc.)
- Office Supplies (Folders, envelopes, stamps)
- Service Costs (Cell Phone, Internet Service, Newspaper)
- Realtor Dues & Fees
- Fingerprinting
- Business Cards & Photo
- Names Riders
- Business Name tags
- Advertising (Business Ad in Local publication)
- Costs for joining Business Networking Group (BNI)
- Meals (@50% for networking meetings)
When is educational expense deductible? How is it deducted?