An audit isn’t scary if you have the 5 W’s documented: Who, What, When, Where, and Why. 👉 Strategy: Take a photo of the receipt, type the 5 W's in the caption, and save it to a "Taxes 2026" folder on your phone immediately. Tip: Keeping your receipts organized and easily accessible will save you time and stress when it’s tax season. Are you a ‘shoebox full of receipts’ person or a ‘digital folder’ person?

Be careful! The IRS limits client gift deductions to $25 per person per year.👉 The Loophole: Branding is key. If your gift has your logo permanently on it (like a high-quality closing sign or a branded cutting board), it can often be classified as marketing, which has no dollar limit! - Tip: When giving gifts, make sure they have your branding to avoid the $25 limit. What is the most creative closing gift you’ve ever given?

Did you know you can rent your home to your business for up to 14 days a year for “business meetings,” and the rental income is tax-free to you personally?👉 Win-Win: Your business gets a 100% deduction for the rent paid, and you pocket the rental income tax-free. Tip: Make sure the rental is legitimate (business meetings, client appreciation events, etc.). Keep detailed records. Could you host a team meeting or a client appreciation night at your house?

If you use your cell phone for business calls, social media, or client texts, it’s now even easier to deduct it in 2026. The IRS allows you to deduct the percentage of your bill that corresponds to your business use. 👉 What’s new for 2026: If you have a dedicated work line, you can deduct 100% of that specific line’s charges — no need for complex calculations anymore. Tip: If you have one phone for personal and business use, make sure to track the business percentage and apply it to the deduction. How many hours a day do you think you spend on your phone for business?

If you or someone you know is 65 or older, the IRS has made the standard tax break even better for 2026!👉 Here’s what’s new: - The standard deduction for 2026 has increased — meaning lower taxable income for everyone. - On top of that, seniors (age 65+) can now get an extra standard deduction of ~$2,050 if single (and ~$1,650 per spouse if married). - Plus! There’s a separate bonus deduction that allows seniors to deduct an additional $6,000 (or $12,000 if both spouses qualify), regardless of whether they itemize. - These tax changes can make a big difference in how much you keep from your hard‑earned income as a real estate professional! Do you know an agent age 65+ who could benefit from this? Tag them and share what tax strategy you’d recommend first!