In this weeks meeting we will be covering the following:
✅-New Member Introductions (Level 1 Accounts)
✅-MP3 Recoridngs (Review)
✅-Expensify (Tracking Business Expenses)
✅-Clockify (Tracking Work Hours)
✅-Easify (SMS Automation-Cold Leads List)
✅-Open Q&A
Our biggest topics to cover will be "Expensify and Clockify" as these address business goals for you as a real estate professional. According to the IRS for a company or LLC to file their 1099 they need to be able to report "Material Participation" or show proof that their self-employment is not just a hobby.
The benefits of using Expensify and Clockify will help you meet the IRS requirement of 10 hours per week or meet the 500 hours rule annually for self-employment.
We will cover and understand how to help you become a better business by applying these two FREE resources. We will discuss the benefits of having each resource as well theimplications and benefits if your expenses supercede your profits and how to make it positive tax rerurn eitherway as your loss can be applied to next year or if you are filing with a spouse how that can reduce their taxes owed and offer a bigger return.
Disclaimer: I am not a financial advisor or tax professional. I am a simply a qualified consultant who can offer suggestive direction when it comes to your real estate business goals. If you need help defining or appling any tax benefits, please reach out to a qualified and licensed tax professional.
See you at the next meeting..........save the link: