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Deductions & credits
By having a license, you are essentially able to "collect" commissions for real estate sales, something you weren't able to do before. Getting a license is almost always a "new" profession. Another common example: an accountant may be crunching numbers on his existing job, but becoming a CPA qualifies him to do more. Initial CPA and real estate licenses are almost never deductible and a guaranteed red flag at the IRS.
‎June 4, 2019
10:17 PM