Plan Ahead on Taxes and Double Down on Savings


 December 10, 2018
Plan Ahead on Taxes and Double Down on Savings

As 2018 draws to a close, it’s an excellent time for real estate professionals to get a jump on tax season. Planning ahead involves more than organizing tax records. It also includes purchasing necessary business-related equipment, supplies and services — expenses that are directly associated with running real estate businesses and may be eligible to be deducted against business income.

Fortunately, members of the National Association of REALTORS® (NAR) can complete many tax-saving purchases before the end of 2018 while also taking advantage of additional savings through NAR’s REALTOR Benefits® Program. Over 30 companies provide unique savings and offerings to REALTORS®, including the following organizations which supply products and services often considered as qualified business expenses.

Dell: Now is a great time to consider a technology upgrade. Dell offers NAR members exclusive discounts up to 40 percent on select products, including notebooks, tablets, desktops, servers, electronics and accessories in its Consumer and Small & Medium Business lines, along with free U.S. ground shipping. 

Lenovo™: For more savings on technology solutions, Lenovo™ offers discounts up to 35 percent on its entire product line, including award-winning ThinkPad® notebooks, as well as the highly acclaimed IdeaPad multimedia notebooks, IdeaCentre and ThinkCentre desktops, PCs, tablets, convertibles and accessories. Free ground shipping is available on all online orders.

FCA US LLC (including Jeep® Grand Cherokee): Most real estate professionals use their vehicle extensively for business purposes. As a result, purchasing or leasing a new car or truck for business use may offer a significant tax deduction. Consult a professional tax advisor for details on rules regarding eligibility.

FCA US LLC, NAR's Official Automobile Manufacturer, offers REALTORS® and family members a $500 cash allowance on the purchase or lease of select new automobiles, which can be combined with other incentives for even greater savings! Additionally, REALTORS® receive an extensive vehicle maintenance package on the purchase or lease of select Chrysler, Dodge, Jeep®, Ram, FIAT® and Alfa Romeo models.

When combined, the cash allowance and Mopar® Vehicle Protection package offer $1,000 in total savings to REALTORS® — which is the equivalent to NAR membership dues for more than six years! 

Intuit®: Preparing for tax season isn’t always easy; however, the burden can be less for those who use QuickBooks® Self-Employed from Intuit. Track mileage, capture receipts and categorize expenses, all from the convenience of a smartphone, laptop or desktop. NAR members enjoy exclusive savings on QuickBooks® Self-Employed, as well as TurboTax®, America’s best-selling tax software. There is also a bundle option to help maximize savings when purchasing the products together, allowing brokers and agents to pay quarterly and year-end taxes online through a seamless integration.

Intuit has developed four short and informative “tax tip” videos specifically for REALTORS®, which can be viewed at NAR.realtor/RealtorBenefits/Intuit. Get smart on allowable tax deductions on business expenses, advertising expenses, home office space, mileage tracking and much more.

End the year on a high note

Successful real estate professionals must make sharp business decisions, which include securing professional tax advice on deductible business expenses and purchasing qualifying products and services at the best prices. Count on partners in the REALTOR Benefits® Program to help accomplish these goals in 2018 and beyond.

The REALTOR Benefits® Program is the exclusive member benefits program of the National Association of REALTORS®, bringing savings and special offers just for NAR members. Program partners are carefully selected and understand the unique needs of real estate professionals. Learn more by visiting NAR.realtor/RealtorBenefits. “Like” us on Facebook at Facebook.com/NARRealtorBenefitsProgram to stay up to date on new announcements, special offers and shareable tips for NAR members. 

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