DESCRIPTION: Taxes are a reality and it is often said it isn’t about what you make, but about what you keep. Knowing the questions to
Taxes are a reality and it is often said it isn’t about what you make, but about what you keep. Knowing the questions to ask the tax professionals can make a huge difference in tax dollars paid versus tax dollars saved. Most real estate licensees are independent contractors, a status that is ultimately determined by the IRS. Licensees need to be aware of the benefits and pitfalls of independent contractor status—especially as they apply to taxation. Client’s need to be made aware of the tax implications as they relate to a transaction. This course discusses taxes related to a real estate licensee’s business and how this interacts with the client’s transaction. The purpose of this course is to make licensees aware of parts of the tax code that affect the licensee’s business and the interaction with client and customer relations. Upon completion of this module, participants will be able to accomplish the following:
• Choose a proficient tax preparer.
• Apply allowable deductions against commission to reduce tax liability
• Calculate taxable income for an independent contractor
• Apply methods to calculate automobile deductions Classify allowable expenses.
INSTRUCTOR: Ray Sherman
Ray started his Real Estate Career in 1979 and has been a Manager/Trainer/Coach since 1983 when he opened his first office. Has been a Broker for Century 21, Moore and Company, Coldwell Banker Van Schaack, Keller Williams, Equity Colorado, Private Label Realty and now eXp Realty. Ray has managed offices as large as 350 agents and his KW office was the #1 office in Colorado in 2006. Ray is an excellent trainer and was selected as the Colorado Association of Realtors, Educator of the Year in 2007. He currently teaches the Colorado Real Estate Commission Update class, plus the Ethics and GRI classes for various Realtor Associations. He also serves as a Mediator and is currently on the Board of Directors for the South Metro Denver REALTOR® Association. Ray was selected as the 2017 SMDRA REALTOR® of the Year.
Continuing Education Credits:4 hours CE
SMART Designation Points: 4 Points
SMDRA Member Price: $50
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REFRESHMENTS PROVIDED BY SMDRA AFFILIATE BUSINESS PARTNER: TBD | TBD
(Monday) 1:00 pm - 5:00 pm MST
South Metro Denver REALTOR® Association
6436 South Racine Circle