By: Guest Author, Virginia REALTORS® Project Manager & Content Manager, Laura Jones
It’s time to dust off your calculator and brush up on and boost your tax laws knowledge. (Do REALTORS® even still use traditional calculators?) Whether you are crunching numbers on your own or with the help of an accountant or digital service, it is important to make sure that you are being proactive this tax season and protecting your business by staying in-the-know about the Tax Cuts & Jobs Act—you could potentially save thousands of dollars!
If you are an independent contractor or sole proprietor, your tax liability can be cut by 20%, which could lead to a solid savings. NAR has compiled a series of helpful webinars to help breakdown the many avenues of interest that have come out of this act that can help you not only as a REALTOR®, but also as a homeowner or renter. It is important for you and your clients that you stay abreast of these changes.
Some people, like myself, are not able to retain a lot of information just by listening. NAR thought that through as well and has provided transcripts and downloadable PDF slideshows for your convenience to supplement the webinars. Check out this example of the slideshow featuring information about major changes facing individuals. This multi-faceted resource has the conceivable promise of being an extremely handy tool during this tax season and beyond.