Free tax tutorials on 20 percent business deduction, and more
Changes to the tax code that could save REALTORS® thousands of dollars were enacted last year. The most significant change is a new business income deduction that allows independent contractors to deduct 20 percent of net business income.
To help you understand the changes and see how they may apply to you, the National Association of REALTORS® (NAR) has released a series of video tutorials. These tutorials cover topics that affect your taxes as a REALTOR® and as a homeowner or renter.
Don’t wait until tax season is in full swing – learn about the changes and how they affect you now so that you can take full advantage of the tax savings.
NAR tax tutorials
Elimination of business entertainment deduction
Taking the 20 percent business income deduction
Changes to the mortgage interest deduction
Limits on state and local tax deductions
Curtailment of casualty deduction
Curtailment of moving expenses deduction
Retention of capital gains exclusion on home sale proceeds
Increase in standard deduction
Elimination of personal exemptions
Access and share page that includes videos, links, slides, transcripts, and embed codes
Comments are closed.