By Adam Fenner
FOR REAL ESTATE AGENTS
Unreimbursed Employee Expenses Once a favorite section to capture additional deductions for those who itemized their deductions in order to capture more than the standard deduction would allow. These have been completely eliminated. This is where agents need to act more strategically, and start operating with those expenses in mind. As compared with previous years where the deductions were often only considered at tax time.
The two big favorites for agents have been mileage and home office deductions. These are both eliminated. These deductions have been eliminated from the personal tax return, not for businesses. This has been done to simplify the individual returns. In the past these deductions…